ZeroNorth acquires Euronav’s FAST platform, accelerating shipping industry’s journey to zero emissions
Euronav is set to fully adopt the ZeroNorth platform, further increasing organisation’s sustainability impact
Copenhagen, Denmark; 31 January 2024: Technology company ZeroNorth and shipping company Euronav have today announced that ZeroNorth will acquire and manage Euronav’s Fleet Automatic Statistics and Tracking (FAST) platform. As part of the deal, Euronav also becomes a customer of ZeroNorth’s full platform offering.
FAST collects advanced high-frequency data in real time from sensors across Euronav’s fleet. Euronav has successfully implemented the FAST platform across its fleet, using ship reporting, voyage optimisation and ship optimisation through the use of high-frequency data. FAST has significantly improved collaboration between ships and all shore departments, optimised vessel and fleet utilisation, reduced fuel consumption, and lowered OPEX. These improvements have had a tangible positive impact on Euronav’s bottom line results and have also helped improve its sustainability strategy.
The data can power up voyage and vessel optimisation decisions, allowing crew and shoreside teams to collaborate in making the most detailed live adjustments to improve sustainability and profitability for Euronav’s diverse fleet of globally operating vessels.
Over time, the plan is for ZeroNorth and Euronav to integrate FAST’s data and full functionality with the ZeroNorth platform. This high-frequency data and FAST’s existing functionality will drive ZeroNorth’s data flywheel, accelerate the industry’s green transition and massively increasing the company’s positive impact on the market.
The transfer comes at a time of increasing transformation for the global trade value chain, with digitalisation and data now at a tipping point for impact. The new collaboration between the two companies will radically accelerate the digitisation of shipping, uniting two sustainable shipping leaders with a shared vision to make a positive impact on the planet.
Pelle Sommansson, Chief Growth Officer & EVP, ZeroNorth, said: “We are extremely excited by this new partnership with Euronav, which is already recognised as one of the most sustainable and progressive companies in the shipping industry. By acquiring FAST and incorporating it into our existing platform, we believe we will accelerate the transformation and sustainability strategies of a large part of the global fleet.
High-frequency data is the solution to many industry challenges. Optimised journeys play a major role in achieving zero emissions in our industry. That’s why we are proud to work with like-minded leaders at Euronav, because together we can change the way that our customers, and shipping as a whole, operate for the better.”
Patrick Declerck, Operations Manager, Euronav, added: “Euronav has a clear ambition to be a leader in sustainability and efficiency. We are proud to partner with ZeroNorth, which is already making a significant impact on enabling green global trade.
Together, we are leading brands focused on creating a better world. We believe this new partnership will enable us to drive the journey to zero emissions across the shipping industry to decarbonise today and navigate tomorrow. This will make more parties aware of the transformative impact data can have on their operations.”
About ZeroNorth
Recognising the challenges posed by climate change, technology company ZeroNorth was founded to accelerate the transition to greener global trade. By blending cutting-edge data-driven technology with human expertise, the ZeroNorth platform provides a range of software solutions that are helping the global shipping industry cut emissions and reduce its impact on the climate, whilst maintaining commercial performance.
ZeroNorth offers one platform with multiple services and is an industry leading software developer, which interconnects data into insights and actions, optimising global trade for cargo owners, vessel owners, commercial operators, charterers, and bunker suppliers. The company’s software offers a full range of services which support the value chain to increase earnings and reduce CO2 emissions.
About Euronav NV
Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav’s owned and operated fleet consists of 1 V-Plus vessel, 20 VLCCs (with a further three under construction), 21 Suezmaxes (with a further five under construction) and 2 FSO vessels.
