Lloyd’S Register acquires Greensteam

Classification society Lloyd’s Register (LR) announced Thursday that it has acquired GreenSteam, a marine data intelligence company specializing in improving vessel efficiency through machine learning.

The acquisition will be integrated and managed by i4 Insight, a subsidiary of Lloyd’s Register. i4 Insight, part of LR’s Maritime Performance Services business, is a digital platform that enables shipowners, operators and charterers to access information on vessel performance and the fuel consumption of their vessels. fleets. LR has expanded its portfolio of risk, technical advisory, business efficiency, vessel performance and voyage optimization services following the divestment in June 2021 of its Business Assurance and Inspection Services division.

The acquisition will see GreenSteam’s range of machine learning services, from fouling analysis and trim planning, to their dynamic trim and speed optimizers, fully integrated into the platform. i4 Insight. The move expands LR’s vision of solving complex problems with integrated software solutions, leading to further reductions in greenhouse gas emissions and operating costs, the company said.

Nick Brown, CEO of LR, said: “We want to help our customers drive growth and solve complex problems through human expertise, integrated software solutions and deep understanding of data. When certainty is scarce, a trusted advisor is vital, which is why Lloyd’s Register is expanding its portfolio of fleet management and fleet optimization services. Our i4 Insight platform, now enhanced with the acquisition of GreenSteam, will enable our customers to optimize their operational efficiency and the performance of their vessels, making their activities more sustainable in an increasingly competitive world.

Shaun Gray, Executive Chairman of GreenSteam, said, “Our experience with i4 Insight as one of its inaugural alliance partners is positive proof that this acquisition is the right thing for our business. Lloyd’s Register is an ambitious organization with a long history in shipping and exceptional relationships with its customers. This, combined with the innovative spirit of i4 Insight to give the shipping industry the tools to make truly informed fuel economy decisions, is a win-win. Together, we will help shipowners optimize vessel operations while meeting emissions targets. “

Joel Meltzner, Director of Fleet Optimization and CEO of i4 Insight, said: “GreenSteam is a leader in vessel-based machine learning for hull and vessel performance improvement and as a A current partner of the i4 Insight alliance, it has already improved the digital capabilities of the platform. . GreenSteam was one of the first companies to apply machine learning to vessel performance data and its system can analyze data from thousands of vessels, continuously learning, adapting and updating what it knows. on each ship. The acquisition of GreenSteam supports our goal of providing our customers with a single source of information to solve key operational challenges and achieve significant operating cost savings. “

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