ABB & MeteoGroup Partner for Maritime Advisory Software
Switzerland-based power & automation giant ABB Ltd. ABB has partnered with weather information provider, MeteoGroup, to equip 140 Maersk Line container ships with advanced software. This will help the vessels optimize their routes by accurately forecasting weather and ocean conditions.
Inside the Headlines
ABB plans to integrate its Octopus motion-monitoring, forecasting and decision-support software with MeteoGroup’s SPOS Seekeeping plug-in to avoid adverse situations during voyages. This innovative software will not only enhance the capacity of on-board loading process but is also capable of locating areas in the ocean that will keep the ship’s motion under threshold values, thereby ensuring its safety.
ABB’s highly competent Octopus advisory suite, when fused with MeteoGroup’s SPOS Seekeeping, will create a tailored software that will harmonize environmental factors like wind, current and swell with individual vessel needs. This, in turn, will drive optimum results.
Apart from safeguarding crew members, the advisory software is also capable of protecting the cargo by improving hull design and providing regular weather updates. In other words, this software will help decide the most economical and safest route for container ships, which will allow timely transfer of cargos.
ABB’s Octopus suite has earned a solid reputation among a wide variety of clients including liquefied natural gas tankers and big cruise ships. Apart from Octopus, ABB also offers Emma, another advisory suite that reduces fuel and energy costs of fleets. In fact, ABB has established a strong foothold in the maritime market, backed by its diverse portfolio of marine advisory and optimization systems.
To Conclude
ABB’s partnership with MeteoGroup mirrors the company’s vision of Internet of Things, Services and People (IoPTS) and its proper utilization for offering maximum benefits for clients. The company believes their latest advisory suite, manufactured for one of the world’s largest container shipping companies, will help the client maximize efficiency and minimize costs.
The company also believes that long-term demand outlook for its principal markets, namely, utilities, industry, and transport & infrastructure, is largely positive. Keeping this in mind, ABB remains increasingly focused on improving its industrial productivity through IoPTS, which has become the cornerstone of its coveted Next Level strategy. At present, the company is keen on developing energy-efficient transport and infrastructure to boost its competitive position in the market.
ABB currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the broader industrial goods sector include AO Smith Corp. AOS, AZZ incorporated AZZ and Ideal Power, Inc. IPWR. While AO Smith sports a Zacks Rank #1 (Strong Buy), both AZZ Incorporated and Ideal Power hold a Zacks Rank #2 (Buy).
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