Optimum Voyage Selected For Voyage Monitoring For Tata Steel
Optimum Voyage has been selected to deliver a monitoring module for Tata Steel. The module will monitor vessels carrying raw materials to Tata Steel and simulate all possible route variations with respect to weather factors. This way, Tata Steel is always aware of any potential changes or delays to its ongoing voyages.
Optimum Voyage will utilize its advanced optimization algorithms to continuously simulate the upcoming voyages for the vessels carrying cargo for Tata Steel. Applying years of knowledge and the most advanced optimization algorithms on the market, Tata Steel will see an overview of the active fleet and the potential weather impact in real-time on the Optimum Voyages online platform.
As a part of the sustainability objectives and initiatives of Tata Steel to align itself and drive towards carbon emission reduction targets, access to such real time information will enable data driven decision making to optimize individual voyage route and vessel speed more quickly and efficiently.
Cem Ugur, Group Head Chartering and Operations of Tata Steel, said, “We are strongly committed to reducing our carbon footprint to help create a sustainable environment for future generations. As we take further concrete steps towards sustainability, partnering with Optimum Voyage will provide an essential tool to optimize transportation of raw materials thereby reducing our greenhouse gas emissions. We are excited to embark on this journey with Optimum Voyage.”
“We are all very excited to start this partnership with Tata Steel. The module will assist Tata Steel with real-time data on vessels carrying its materials, and will provide the needed decision support in order to achieve better voyage results.“ said Mathias Nyman, Commercial Director of Optimum Voyage.
Tata Steel Limited is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the world. The group recorded a consolidated turnover of US $21.06 billion in the financial year ending March 31, 2021.
In Europe it is one of the leading steel producers, with steelmaking in the Netherlands and the UK and manufacturing plants across Europe. Inbound shipping activities involve ocean transportation of about 20 million tonnes of iron ore and coking coal annually on between 250-300 bulk carriers. The company supplies high-quality steel products to the most demanding markets, including construction and infrastructure, automotive, packaging, and engineering. Tata Steel works with customers to develop new steel products, which gives them a competitive edge.
Tata Steel has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top five steel companies in the DJSI Corporate Sustainability Assessment since 2016. Besides being a member of ResponsibleSteelTM and worldsteel’s Climate Action Programme, Tata Steel has won several awards and recognitions including the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants, and Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India’s most valuable Metals & Mining brand by Brand Finance, featured amongst CII Top 25 innovative Indian Companies in 2020, received rating of ‘A-‘ (leadership band) from CDP for its Climate Change disclosure and Supply Chain disclosure, Steel Sustainability Champion 2020 recognition from worldsteel, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, Best Risk Management Framework & Systems Award (2020) from CNBC TV-18, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.
Source: Optimum Voyage