ZeroNorth acquires Euronav’s FAST platform
Denmark-based technology company ZeroNorth has reached a deal with Belgian shipping company Euronav to acquire and manage the tanker major’s Fleet Automatic Statistics and Tracking (FAST) platform. As part of the deal, Euronav will become a customer of ZeroNorth’s full platform offering.
FAST collects advanced high-frequency data in real-time from sensors across Euronav’s fleet. The platform has been implemented across the company’s fleet for the purpose of ship reporting, voyage optimization and ship optimization.
As disclosed, the FAST has helped improve collaboration between ships and all shore departments, optimized vessel and fleet utilization, reduced fuel consumption, and lowered OPEX. These improvements have had a tangible positive impact on Euronav’s bottom-line results and have also helped improve its sustainability strategy.
Over time, the plan is for ZeroNorth and Euronav to integrate FAST’s data and full functionality with the ZeroNorth platform.
The transfer comes at a time of increasing transformation for the global trade value chain, with digitalization and data now at a tipping point for impact.
“By acquiring FAST and incorporating it into our existing platform, we believe we will accelerate the transformation and sustainability strategies of a large part of the global fleet,” Pelle Sommansson, Chief Growth Officer & EVP, ZeroNorth, said.
“High-frequency data is the solution to many industry challenges. Optimized journeys play a major role in achieving zero emissions in our industry. That’s why we are proud to work with like-minded leaders at Euronav, because together we can change the way that our customers, and shipping as a whole, operate for the better.”
“Euronav has a clear ambition to be a leader in sustainability and efficiency. We are proud to partner with ZeroNorth, which is already making a significant impact on enabling green global trade,” Patrick Declerck, Operations Manager, Euronav, added.
“Together, we are leading brands focused on creating a better world. We believe this new partnership will enable us to drive the journey to zero emissions across the shipping industry to decarbonise today and navigate tomorrow. This will make more parties aware of the transformative impact data can have on their operations.”