Oceaneering International Inc. has launched OceanSMART Cargo Logistics and Maritime Technology, a new business focused on eliminating waste and increasing transparency within the bulk commodity cargo logistics industry, on June 16.

Over the past 18 months, Oceaneering’s Maritime Intelligence and Technology team worked to develop the OceanSMART offering to address serious industry challenges. The bulk commodity industry amounts to around 60% of world seaborne commodity movements. These cargoes include oil and gas, agricultural, and mineral products. The industry is one where there is little transparency, inherent conflicts of interest, tremendous waste, and misinformation. This environment results in delays, reactive decision making, unnecessary risk, excess cost, and other environmental impacts. This presents an incredible opportunity to revitalize the way the industry currently does business by more effectively using data and technology, getting away from paper-driven tasks and aging legacy applications.

OceanSMART is a combination of software as a service (SaaS) products, data science tools, and resourcing services that will provide cargo owners with real time visibility of their vessels, cargoes, and maritime assets. The service provides transparency to risk, hidden costs, inefficiency, and waste as well as provides the solutions to significantly save time and money and vastly improve decision making.

“OceanSMART is a perfect complement to our existing maritime business and fits well into our ‘innovate and expand’ strategic objective. We are very excited about what the team has built over the last 18 months and the growth opportunities this business offers,” Rod Larson, president and CEO of Oceaneering, said.

The OceanSMART portfolio currently includes the SaaS products SMART Position and SMART Analytics. Data science advanced algorithms have been developed that can analyze port and terminal performance in near-real time with developing predictive analytics. On the resourcing side, OCEAN Demurrage and OCEAN Barge have both received significant demand signals from the market. Additionally, OceanSMART has launched the SMART AIS mobile app. Over the next 12 months, several new SaaS products, data science algorithms, and resourcing services will be released to expand the OceanSMART product line.