Synthetica joined the Intercem Shipping Forum 2024, held on January 22-23 in Rome, Italy. Bringing together over 120 professionals from the cement and shipping sectors, the forum provided a platform for in-depth discussions on the latest industry trends and developments.

The diverse array of participants, ranging from cement manufacturers and traders to ship owners, brokers, terminal operators, and service providers, convened to explore the challenges and opportunities 2024 brings for both industries. Key topics included the ambitious decarbonisation targets set and adjusting to new regulations to reduce CO2 emissions in the coming year.

The panel discussions brought updates on key policies within the shipping sector, shedding light on how these regulations will impact various aspects of the cement trade, including trade routes, port operations, vessel availability, and more. Furthermore, the event unveiled the latest international cement market forecasts and comprehensive freight rate analyses, providing valuable insights for industry professionals as they plan their strategies for the year ahead.

Damianos Oikonomidis, co-founder of Synthetica, discussed the implementation of Artificial Intelligence technology in the maritime sector. He highlighted how AI technology can address unresolved problems in the industry, emphasising that:

  • AI adoption is accelerated by reduced connectivity costs and strict emissions targets
  • 60% of CIOs plan for widespread AI adoption across departments by 2025
  • 10% of maritime operations could be automated by AI technology

He also outlined the main challenges associated with AI implementation, including integration with existing systems, cybersecurity and data privacy, collaboration between tech experts and maritime professionals and workforce training.

Finally, Damianos presented a case study showcasing how Synthetica Vision transforms vessel operations. In a scenario involving a bulk carrier experiencing a leak resulting in engine oil contamination with seawater, Synthetica's automated monitoring software detected the issue, after the vessel crew did not act for over 10 hours. This prompt intervention saved millions of USD in damages and loss of hire, contrasting with a similar incident on a vessel lacking such technology, which led to catastrophic M/E damage.

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Synthetica Vision is a comprehensive remote maritime monitoring solution that emphasises safety, efficiency, and cost-effectiveness. The system runs continuously in real-time, reducing the need for frequent manual checks. Learn more