EMEA News
To Know Your Customer, get to Know the Rules, Says Boss of Software Firm
The complexity of emissions regulations to curtail shipping's greenhouse gas output has prompted a response from software companies.
One such firm, Hamburg-based OceanScore, has set its sights on helping shippng firms work the European Union's FuelEU regulation to their advantage.
For OceanScore's managing director, Albrecht Grell, there is a competitive advantage to be had from having a good understanding of how the regulation works in practice.
"The difference in commercial outcomes depending on the decision-making is significant. In the end, it's a zero-sum game. If you are better informed, you will win the game, if not, you'll lose. And information is critical in giving this advantage."
Whereas the emissions trading scheme is a cost, FuelEU has scope for firms to make money. But its complexity means that there are no easy wins. OceanScore's AI-driven software allows ship operators to better understand how the regulation can suit their own interests.
OceanScore is geared towards the demand side, the bunker fuel buyers, but what of the supply side, the bunker companies themselves?
"Our customers are the shipping lines but we are seeing interest from the bunker providers," he said. Knowing what your customer is seeing [from the regulation] is a worthwhile goal.
Is OceanScore thinking of producing something on the regulation specifically for bunker players? Not exactly, but it is certainly open to enquiries.
"If I was a bunker company, I would come to OceanScore, and ask,'Help me to understand why, for example, Maersk wants to buy these bunkers, what's the advantage [to Maersk] that would allow me to price the fuel more appropriately?'," Grell said.
Grell was speaking at event in London on October 2.
