SAN FRANCISCO, CA--(Marketwired - October 27, 2016) - ClearMetal, the predictive logistics company using data science and machine learning technology to unlock unprecedented efficiencies for global trade, today announced that the company was selected as the winner of the Lloyd's List Intelligence Big Data Award.
"ClearMetal impressed the Lloyd's List Intelligence judging panel with their range of predictive data solutions offered to customers, including vessel capacity utilization, equipment management as well as a range of global insight tools, all of which we felt could lead to increased efficiency within the logistics chain," said Liz McCarthy, publisher of Llyod's List.
Established in 1734, Lloyd's List is an iconic trade publication for the global shipping industry. The Lloyd's List Intelligence Big Data Award recognizes the company that best demonstrated the ability to bring big data innovation to the shipping industry for improved business performance and risk management. The award recipient is chosen by entries taken from around the world and adjudicated by a distinguished judging panel.
"It's no surprise ClearMetal won this award and was recently featured on the cover of American Shipper," said John Urban, founder of GT Nexus, "because the value delivered by ClearMetal's predictive logistics technology is so transformative and urgently needed by the industry."
The Urgent Need of an Industry in Peril
Global trade plateaued around the beginning of 2015 and has decreased ever since, causing one of the worst shipping slumps in history. The effect is accentuated in the ocean freight industry, which carries approximately 90% of global trade. The world's seventh largest ocean carrier Hanjin recently collapsed under the weight. The fundamental industry issue -- beyond low freight rates and over-capacity -- is that the 'economies of scale' efforts to drive efficiency over the past two decades (megaships, alliances, mergers) are nearly tapped out. Profitability improvements are urgently needed and one of the only places left to turn is advanced technology -- which can create efficiency by being smarter, instead of just bigger.
"We are honored to receive this award among such strong nominees," said Adam Compain, CEO of ClearMetal. "We view this as a validation of the critical need for a fundamentally new approach to global trade efficiency. We've proven that predictive logistics, powered by advanced, industry-specific technology, can deliver millions in profitability gains for carriers, forwarders, terminals, and shippers. And we're excited to help usher in this new wave of truly intelligent global trade."
The Power of Prediction
As two specific examples of the technology's power, ClearMetal has proven that it has consistently delivered 30-60% better prediction of true ocean container demand and supply, which represents the heart of asset allocation, pricing, optimization, and overall trade management.
And recently a top freight forwarder estimated ClearMetal predictions could deliver tens of millions in global profitability improvement across a variety of commercial and operational applications -- from booking management and allocations, to per diems and volume incentives.
The Lloyd's List award series is about celebrating the combined achievements of the industry but also recognizing the transformation that is happening across logistics businesses. Lloyd's List believes that the future belongs to those who can successfully tap into the opportunities that this transformation presents.
To learn more about ClearMetal, please visit www.clearmetal.com.
ClearMetal is a predictive logistics company that uses data science and machine learning to unlock unprecedented efficiencies for global trade. Developed by top software engineers from Stanford University and Silicon Valley, ClearMetal's platform predicts nearly all events in the shipment cycle -- enabling asset allocation and trade management decisions that deliver unparalleled profitability gains for carriers, forwarders, terminals, and shippers. Based in San Francisco, ClearMetal is advised by the founder of GTNexus, and is funded by the founder of Navis, NEA, Skyview Fund, and the (chairman of Google) Eric Schmidt's Innovation Endeavors.