More information
Description
eShip will become a Software as a Service Solution that applies state-of-the-art ICT tools to the traditional chartering business model, generating significant value added to all market participants in three key aspects: i) optimization of freight rates by intelligent matching of ships and cargoes; ii) reduction of back-office expenses by automation of repetitive, information heavy procedures; and iii) application of business intelligence and data analytics to optimise the entire supply chain. eShip digitizes the entire chartering process from market search to voyage completion, including contracts of affreightment and charter party negotiations, real time voyage tracking, demurrage/dispatch calculations, freight invoice generation, bills of lading, post-voyage analysis and regulatory compliance.This will be accomplished through the development and commercialization of an innovative product that is aimed at the digitalization of the maritime industry and the application of state-of-the-art transport technologies. Additionally, eShip will promote cooperation between business, research and education, a key factor for innovation and sustainable growth. It should be noted that eShip complements other Blue Economy projects funded by the European Commission, such as MixMove (for the optimization of road transport) and JUL (single logistics window currently being developed in Portugal).The goal of the project will be to develop and demonstrate the eShip solution, from early prototypes towards TRL7 – Demonstration Systems.The solution will be demonstrated in two different pilot actions:One with an LNG (Liquified Natural Gas)Other with a dry bulk carrierEarly support from target clients is a critical success factor. Interest to participate in the pilots or support the business requirements definition has already been secured from Oil & Gas Operators, shipowners, port authorities, multimodal operators, among others.
Summary of project results
eShip digitizes the entire chartering process from market search to voyage completion, including contracts of affreightment and charter party negotiations, real time voyage tracking, demurrage/dispatch calculations, freight invoice generation, bills of lading, post-voyage analysis and regulatory compliance. eShip will become a Software as a Service Solution that applies state-of-the-art ICT tools to the traditional chartering business model, generating significant value added to all market participants in three key aspects:i) optimization of freight rates by intelligent matching of ships and cargoes;ii) reduction of back-office expenses by automation of repetitive, information heavy procedures; andiii) application of business intelligence and data analytics to optimise the entire supply chain.The goal of the project will be to develop and demonstrate the eShip solution, from early prototypes towards TRL7 – Demonstration Systems.The solution will be demonstrated in two different pilot actions:One with an LNG (Liquified Natural Gas)Other with a dry bulk carrierEarly support from target clients is a critical success factor. Interest to participate in the pilots or support the business requirements definition has already been secured from Oil & Gas Operators, shipowners, port authorities, multimodal operators, among others.
The project resulted in a collaborative platform integrating various systems. Market analysis provided insights into the global market and ICT tools. Technology assessment at Reykjavik University ensured suitability, evaluating technology readiness levels (TRL) against project requirements. The eShip platform, reaching TRL 8, focused on a Minimum Viable Product (MVP) through Living Lab feedback, covering end-to-end processes, intelligent matching, integration, and collaboration.
The exploitation plan prioritized cost-effective marketing, onboard mechanisms, and IPR exploitation. Promotion and dissemination, guided by the communication plan, utilized a website, brochures, videos, social media, events, and scientific papers. Project management maintained coherence and compliance. The primary challenge was the closed nature of the tramp shipping market, relying on informal communication and trust. Stakeholders need an innovation plan for adoption. Despite reaching the proposed TRL, the team believes scaling up the e-Ship platform for real testing in a multinational, digital-ready company will elevate chartering readiness.
Summary of bilateral results
The donor project partner has brought a combination of technical and strategic support that significantly enhanced the project''s chances of success and long-term sustainability. The partnership fostered collaboration, shared resources, and a collective effort to address complex challenges and achieve meaningful outcomes. Reykjavik University’s partnership offered numerous benefits to the eShip project, enhancing its overall effectiveness and impact. The most obvious benefit, considering the ICT solution in place, was the additional resources, including expertise and technology. The state-of-the-art in digital technology for the chartering cluster, considering the current state of Industry 4.0 and technological applications applied in the shipping/chartering industry, was the main input given by the technology assessment and research in smart algorithms to match cargo and ships and automation of chartering procedures, framed in activity 2. Revision of different technologies that the eShip consortium mentioned in its internal discussions, helped the donor partner to define relevant metrics to evaluate how well the chosen technology fitted the project. With this bilateral partnership, the project accessed specialized skills and tools that would not be available otherwise. Capacity-building opportunities enhanced the skills and knowledge of the project team, especially the development team, making it more capable of addressing project challenges and achieving goals.