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Monday, September 6, 2021 

Data analytics provier ioCurrents says it has recently experienced an overwhelming increase in interest for its edge computing platform MarineInsight, and has set up a new EMEA division.

MarineInsight is designed to provide ship owners and charterers with meaningful insights into vessel fuel consumption, parts failure predictions and condition-based maintenance planning. It makes use of artificial intelligence (AI) and machine learning to analyse data from sensors around a vessel to provide actionable results. The company believes that digitalisation has been embraced by the maritime industry as it recognises  the efficiency gains that can result from switching manual processes and procedures to online. This move has accelerated even further of late due to the pandemic but the industry lacks many of the skills required to benefit from certain digital innovations such as processing and analysing the huge amounts of data that vessels can generate.

This has led to the new EMEA division, which will be headed by Toby Harris (pictured), whose experience includes ship brokering and chartering with Tokyo Marine (Europe) and the Kennedy Marr Group. Most recently he was Sales Manager at Ericom Software where he specialised in advising clients about cyber security threats.

Harris said: “Since joining ioCurrents I’ve not had a minute to spare. The new decarbonisation regulations coming into force means that charterers are under pressure to reduce fuel emissions by up to 80% so having accurate dashboards that can produce reports in real-time is an absolute must. ioCurrents has the right capabilities to help provide the most up to date information so charterers can view the results and make instant improvements in consultation with vessel owners. Fuel emission reduction and parts failure predictions  saves both time and money by reducing the amount of vessel off-hires, leading to greater operational efficiencies.”

Jesse Brink, ioCurrents CEO, said: “We’re so pleased to have Toby on board and I’d like to welcome him to the company. His wealth of experience in the chartering and brokering sectors will be a great asset as we expand into Europe. He can demonstrate how ioCurrents can provide the answers for these markets to enable them to function more efficiently and comply with all necessary maritime regulations.”

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