Signal Group released several new services at Posidonia 2022 and called for shipping entrepreneurs to come forward with new ideas for its incubator model
Signal Group is a rapidly evolving company with several well-established services and companies in its portfolio.
One of the latest to be included in its incubator model is Shipergy, a bunker operation co-founded by chief executive Daniel Rose. Mr Rose is well-known in the bunker industry with a career spanning Integr8 Fuels, OceanConnect Marine and LQM Petroleum Services.
“Initially, Shipergy will be a service for the (pool) fleets under Signal,” he said.
Signal Maritime chief executive Panos Dimitracopoulos is a director, reflecting the special incubator nature of the arrangement where the Signal Group provides support for early stage technology start-ups and entrepreneurs in the shipping, logistics and commodities space.
At the Signal Group reception at the Stavros Niarchos Foundation on 9 June during Posidonia 2022, other entrepreneurs were encouraged to come forward with their ideas.
In other Signal Group news, Signal Ocean, in partnership with General Index, announced an agreement to publish a revolutionary set of ocean freight and CO2 benchmarks.
The new benchmarks will provide a series of unique indexes which combine Signal’s vessel and voyage data with General Index’s quantitative and well-established methodologies.
This combination will deliver market participants with an accurate view of fluctuating freight rates, allow them to monitor their historical and estimated vessel emissions and quantify the financial cost of these emissions.
Using its tuned models, Signal will provide detailed estimates of greenhouse gases emitted on a vessel-by-vessel basis.
The service will cover the key global trading routes for crude oil and refined products, starting in the Atlantic Basin. General Index will operate the benchmarks via its tech-native methodologies and production systems, incorporating trade information from its data contributors. The ocean freight and CO2 benchmarks are the first phases of an ambitious plan of collaboration between the two firms.
The collaboration will provide the industry’s first normalised emissions benchmark allowing shipowners and charterers to trade CO2 emissions.
Signal Group chief executive Ioannis Martinos said, “Signal Ocean, like General Index, is a data-driven technology company that uses high-quality data and trusted modelling. We have combined this with decades of market knowledge and experience as a commercial vessel operator to create a unique set of data APIs that help solve a number of persistent problems in the analysis of shipping markets.”
He added, “Partnering with General Index will allow us to provide new tools to help market participants better understand their emissions performance and manage their financial exposure.”
