Bahri Annual Report-2017

Bahri Data 6 Strategic Business Units 3 Delivering value through innovative solutions Annual Report 2017 82

Innovative solutions

BRISO

Bahri Data’s focus is on leveraging science, technology, data and cross- functional collaboration to deliver value—to Bahri and the maritime industry. Data has become significant in modern business for a reason: through data analysis, we gain great business insights and foresights Advanced analytics enables Bahri businesses to monitor and improve

their performance consistently. We use big data, the Internet of Things (IoT), Artificial Intelligence (AI) and Machine Learning (ML) to conceive and develop new software and platforms aimed at enhancing efficiency and performance. Our business model allows us to serve three distinct sets of stakeholders:

• Bahri businesses • Bahri customers • Maritime industry

At Bahri Data, we are also creating bespoke big data applications for the maritime industry. In 2017, Bahri Data and DNV-GL, the global quality assurance and risk management company, co-developed a new maritime application called Safe Seas which is an innovative solution that will promote maritime safety, security, quality as well as compliance with global industry regulations. We showcased the prototype of Safe Seas at the Bahri Data Forum in November 2017. Our partnership with DNV-GL is part of our strategy of collaborating and partnering with industry leaders to deliver additional value where possible to Bahri and maritime industry in general. Safe Seas will use DNV-GL’s Veracity platform to provide a simple solution for all stakeholders – fleet owners, operators, charterers, port authorities and regulators – to keep track of safety, quality and compliance. We believe that data and analytics are great tools for the global maritime industry to tackle major challenges such as overcapacity, weak demand and tight margins. Data and analytics also have an important role to play in addressing the other industry issues such as our environmental footprint.

A platform that provides various information which makes operations more intelligent and customer service more effective Ship fuel management Ship chartering based on data Managing business voyages of ships Fleet developed operations Ships that are connected to each other Preventive maintenance

Established in 2015, Bahri Data has proven to be a major success in offering innovative business enhancement tools, and is also beginning to create new revenue streams for the Company.

Achievements

One of the major achievements of Bahri Data is the development of Bahri Realtime Integrated Systems Operations (BRISO). BRISO is a platform that integrates diverse information related to shipping business, ranging from weather prediction to rate prediction, to enable better and more efficient, evidence-based decision- making. BRISO will help Bahri to grow revenues, optimize costs, make the operations smarter and improve customer service by influencing diverse areas of the business, such as: • data-driven chartering, • voyage management, • smarter fleet operations, • connected ships, • predictive maintenance, • cargo predictions, and • prediction of customer needs. In 2017, we worked closely with Bahri Ship management and other internal stakeholders to conduct data-based reviews of operations and reduce operating costs. Data analysis contributed to reducing costs in four significant areas: bunker management, speed volatility management, maintenance and crewing. During the year, we transformed the BRISO platform into a revenue-centric model by adding features such as: • commodity tracker, which allows us to monitor commodity movements globally to understand the changes in shipping demand and recognize emerging new trade routes; • third party vessel TCE prediction, providing charterers information about any ship’s time charter equivalent; • vessel trade patterns, enabling executives and charterers to gain market insights and emergence of new trade routes; and • freight rate predictions based on trade routes, providing charterers with actionable insights on vessels.

Recognition

The maritime industry has recognized Bahri Data’s capabilities and contributions. Over the past two years, we have received four major industry awards:

Cargo-related predictions Customer-needs predictions

1) Lloyd’s List Awards 2016 (Innovation) 2) Lloyd’s List Awards 2016 (Big Data) 3) SeaTrade Awards 2017 (Newcomer of the Year) 4) Lloyd’s List Awards 2017 (Innovation)