The development of a new technology called ‘Blue 5.0.’ plans to implement analytics and machine learning to benefit shipping and predict pilotage transit durations and allow terminals to plan and allocate their resources more efficiently.
Singapore-based PSA Marine, a marine services provider, awarded a contract to tax and transaction advisory services Ernst & Young Solutions (EY) in February 2018 to design and develop the optimization application.
PSA Marine has claimed that Blue 5.0 will help vessel operators and vessel charterers estimate the total duration of voyage within the port of Singapore more accurately.
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Peter Chew, Managing Director of PSA Marine, said: “We are pleased to select EY as a partner of choice to work alongside us on this application.
“This is a key milestone in our digital transformation journey as we seek to change mindsets and embrace emerging technologies to bring greater value to our customers and stakeholders in the port of Singapore.”
Jimmy Koh, Head of Pilotage in PSA Marine, commented: “Leveraging data generated from our business operations and investing in data analytics are timely and necessary.
“We are confident that the findings will provide useful insights and enable us to provide more effective and efficient services to terminals, the shipping community and the port of Singapore.”