Periodic Reporting for period 2 - Next Gen Bluetech (Making container shipping more sustainable and efficient through digital technologies and data science)
Berichtszeitraum: 2019-03-01 bis 2020-02-29
Ocean shipping continues to play a key role in the economic development of Europe, where a single port like Antwerp contributes 5% to the GDP of Belgium. But endemic overcapacity and rising awareness about the environmental impact of mega vessels are forcing leading container carriers and port operators to look for new ways to increase the efficiency of their operations. After years of hardware improvements, they are looking to the promise of digital technologies and advanced decision support tools to make the next leap forward.
Portchain is a tech company founded in 2017 with the mission to help container carriers and ports realize the digitization potential and help create a greener, more efficient industry. Portchain builds cloud-based software products, powered by artificial intelligence, that optimize utilization of core resources. With main offices in Copenhagen, the company employs a highly skilled workforce of data scientists, software engineers and shipping professionals.
Before the Horizon 2020 project was launched, a successful trial was performed in one of Europe’s largest container ports. The main objective of the project is to replicate the results of the initial trial across several additional ports and geographies to prove the viability of the solution for the industry at large and define the right scale-up model.
Portchain is a tech company founded in 2017 with the mission to help container carriers and ports realize the digitization potential and help create a greener, more efficient industry. Portchain builds cloud-based software products, powered by artificial intelligence, that optimize utilization of core resources. With main offices in Copenhagen, the company employs a highly skilled workforce of data scientists, software engineers and shipping professionals.
Before the Horizon 2020 project was launched, a successful trial was performed in one of Europe’s largest container ports. The main objective of the project is to replicate the results of the initial trial across several additional ports and geographies to prove the viability of the solution for the industry at large and define the right scale-up model.
The Horizon 2020 project was carried out according to plan, and it has proven very successful.
Overview of work carried out in the project:
1) Leading container carriers and terminal operators were engaged early on in the project to initiate joint trials of the Portchain solution. Subsequently, the product was configured in close collaboration with end users across several ports and regions, and the trails were carried out.
2) These trials provided valuable insights about the robustness and scalability of the product in different customer segments and operational environments. In the early stages of the trials, significant efforts were made to understand user needs and operational constraints that might impact the adoption of the new planning tool. Further configuration followed with ongoing customer feedback loops, and eventually a new workflow was rolled out in live operations. With each successful trial completed, the product was validated in a new environment and one step closer to full market validation.
3) Finally, a roadmap to continue the positive growth trajectory and scale the company's footprint beyond the end of the project was developed.
Summary of exploitable results from the project:
1) The project led to close partnerships with some of leading shipping companies in the world, which have since developed into long-term customer relationships.
2) The positive traction also helped Portchain close a funding round with a group of prominent angel investors from the global shipping and tech scene.
3) The company's workforce grew by more than 100% over the course of the project by the addition of top technology talent from countries such as Italy, Germany, Latvia and Turkey.
4) Following the successful completion of the project, other customer trials have been scheduled or already kicked off.
Overview of work carried out in the project:
1) Leading container carriers and terminal operators were engaged early on in the project to initiate joint trials of the Portchain solution. Subsequently, the product was configured in close collaboration with end users across several ports and regions, and the trails were carried out.
2) These trials provided valuable insights about the robustness and scalability of the product in different customer segments and operational environments. In the early stages of the trials, significant efforts were made to understand user needs and operational constraints that might impact the adoption of the new planning tool. Further configuration followed with ongoing customer feedback loops, and eventually a new workflow was rolled out in live operations. With each successful trial completed, the product was validated in a new environment and one step closer to full market validation.
3) Finally, a roadmap to continue the positive growth trajectory and scale the company's footprint beyond the end of the project was developed.
Summary of exploitable results from the project:
1) The project led to close partnerships with some of leading shipping companies in the world, which have since developed into long-term customer relationships.
2) The positive traction also helped Portchain close a funding round with a group of prominent angel investors from the global shipping and tech scene.
3) The company's workforce grew by more than 100% over the course of the project by the addition of top technology talent from countries such as Italy, Germany, Latvia and Turkey.
4) Following the successful completion of the project, other customer trials have been scheduled or already kicked off.
For the shipping industry and society as a whole, the expected impact of the project goes way beyond the positive results for the company. Portchain’s sophisticated decision support tools can increase the utilization of a typical container terminal by +5%, reduce fuel consumption through better fleet management and increase the speed and accuracy of multi-stakeholder port call coordination. This translates into real value for carriers and port operators, and it has a potent environmental upside: the potential annual CO2 reduction from the Portchain solution is equivalent to the emissions of a city of 1.5 million people.