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DNV VERACITY AND ASTRUP FEARNLEY JOIN IN EMISSIONS PREDICTION CALCULATOR PROJECT

DNV VERACITY AND ASTRUP FEARNLEY JOIN IN EMISSIONS PREDICTION CALCULATOR PROJECT

Thursday, July 1, 2021 

Astrup Fearnley and Veracity by DNV (Veracity) have signed a Memorandum of Understanding (MoU) to jointly deploy an Emissions Prediction Calculator to the shipping industry, which will provide ship brokers, owners, and charterers with quality assured emissions data predictions over the Veracity platform.

Søren Greve, CEO Fearnleys shipbroker, part of the Astrup Fearnley group, said: “We have identified common interests – in shipping and ocean industries, reducing emissions and developing technology to create a data driven transformation in this sector, and we want to collaborate for a more sustainable future.

DNV offers experience and expertise in building algorithms for emission calculations and provides validation on modelled results. Utilising its competence and availability of trusted data in combination with the power in the Veracity industry data platform, DNV will develop the Emissions Prediction Calculator with one lead source of validated emissions data. DNV and Astrup Fearnley will work together to introduce it to the market.

“This is an important sustainability project to us, combining commercial expertise with industrial data and modern technology. With the purpose of supporting decarbonisation in ocean industries, we will work to contribute to the ongoing processes towards energy transition,” said Greve.  

The solution will be based on existing principles and data pipelines, developed and quality assured in DNV. Delivering quality emissions data estimates via an API to Astrup Fearnley, the Emissions Prediction Calculator will enable the shipbroker to use trusted, independently predicted emissions data for enriching its business.

Decarbonisation in the maritime industry is being actively encouraged by stakeholder groups throughout the value chain, from regulatory bodies to financial institutions, customers, ship managers, charterers and the ship owners themselves. For shipbrokers, such as Astrup Fearnley, who want to support the decarbonisation of the industry, the Emissions Prediction Calculator will assist in predicting emissions for potential trade. It will enable environmentally conscious ship brokers and charterers to select business based on its environmental footprint. 

“We are delighted to work with Astrup Fearnley on this project. As a world leading ship broker, Fearnleys has a strong position in the market and their engagement in this project shows how the broker and charter industry can make a real impact in reducing carbon emissions in shipping,” said Mikkel Skou, Executive Director, Veracity. Our Calculator is being calibrated based on actual emissions data that has been validated and verified, by DNV. It is run through well tested algorithms, developed by DNV’s maritime experts and data scientists over more than 10 years.”

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