Maersk Tankers said on Wednesday it has entered into an equity agreement with U.S. hedge fund CargoMetrics, giving it access to analytical models and algorithms to better manage its tanker operations.
Maersk Tankers, a unit of shipping group A.P. Moller-Maersk, has invested a "significant" but undisclosed amount in the Boston-based hedge fund, which will give the firm exclusive right to its analytical models, algorithms and capabilities.CargoMetrics links satellite signals, historical shipping data and proprietary analytics for trading purposes in its systematic investment platform."Data about the ninety-percent of global trade that moves by sea is a powerful trading edge," said Scott Borgerson, Chief Executive of CargoMetrics in a statement....MORE
Robin Wigglesworth at the Financial Times has additional details and a picture: