Green Charter™ is a new offering from Nautilus Labs, a technology company pioneering the decarbonisation of the ocean supply chain.
Green Charter™ implements new legal frameworks into charter party agreements using machine learning-based data streams, establishing Nautilus as a trusted, independent, shared source of truth for ship owners and charterers to increase transparency and collaboration.
By creating a greener legal framework and unlocking commercial efficiency, Nautilus Labs’ Green CharterTM transforms legacy charter party arrangements, according to a statement.
Furthermore, Nautilus Labs, an industry pioneer in high-frequency data modelling, creates machine learning-based virtual reproductions of physical ships, known as Digital Twins, to accurately simulate vessel performance and operational outcomes.
The technology will be used to implement new commercial clauses that ensure every action across fleets achieves peak efficiency for increased profitability and lower emissions for both sides of the charter party – unlocking more dynamic speeds, better vessel performance, and eventually just-in-time arrival.
“Green Charter is set to transform the relationship between owners and charterers by establishing a foundation of trust based on data. With sensor data as an unbiased source of truth, Green Charter™ facilitates effective collaboration and alignment among industry leaders, leading to improved performance and accelerated progress towards Net Zero,” commented Matt Heider, CEO of of Nautilus Labs.
