The National Shipping Company of Saudi Arabia (Bahri) has set up an initiative to develop data analytics to improve ship performance. BahriData is a new data platform that the owner of 88 ships intends to use to improve operating performance and unlock growth opportunities.
Bahri has identified the big data trend as the next frontier for sustainable business growth in the maritime industry. It is an exponent of data-driven decision making and thus has assembled a team of specialists to embed sustainable analytics into the fabric of the organisation. It will support development of an ecosystem of partners from the maritime industry and academia to drive data-driven advancements and promote their application in the shipping industry.
“Big data is already playing a larger role in shaping the future of the maritime industry than previously imagined,” Bahri chief executive Ibrahim Al Omar said. “By embracing analytics and turning data into actionable insights, shipping and logistics players have an opportunity to drive improved efficiency and quality. In the long run, this will help transform their organisations into smarter, more dynamic entities that have a more informed picture of market trends and demands and are better prepared to meet the challenges of tomorrow.”
He added: “We have already seen how, by maintaining a sustained focus on data innovation, we are able to eliminate, or mitigate, many of the risks typically associated with the shipping industry, while gaining a clearer understanding of how the market is shaping up and how challenges can be turned into opportunities.”
Bahri is developing several data models in its BahriData platform that will help streamline and enhance all aspects of the company’s operations. The models cover a number of key business areas including chartering, voyage management, fleet operations, maintenance, and customer services. It operates a fleet of 88 vessels including 36 very large crude carriers (VLCCs), 31 chemical carriers, 10 refined petroleum product tankers, six multipurpose vessels and five dry-bulk carriers. It also has 10 VLCC newbuildings on order.