The new capability will flag potential and
actual route changes caused by the geopolitical crisis in the Red
Sea empowering stakeholders to take action and mitigate further
delays
LONDON, Dec. 20,
2023 /PRNewswire/ -- Windward (LSE: WNWD), the
leading Maritime AI™ company, has announced the launch of Route
Deviation (RDV) Exception, a new capability part of Windward's
Ocean Freight Visibility solution, to flag route changes caused due
to the geopolitical crisis in the Red Sea. The new capability
provides stakeholders with early alerts of changes to container
shipments that have shifted away from entering the Red
Sea,enhancing visibility and enabling them to efficiently adapt to
changes and mitigate negative outcomes.
Recently, Iranian-backed Houthi rebels in Yemen have attacked vessels going through the
Red Sea leading major shippers to reroute vessels to avoid the area
and the Suez Canal. The collective vessel market share of MSC,
Hapag Lloyd, and Maersk, all of which have rerouted vessels away
from the area, accounts for approximately 60% of global
trade. Many of the impacted vessels previously heading to
Europe from Asia via the Red
Sea are now sailing around the Cape of Good Hope in
South Africa, likely adding 10 to
14 days of travel time. As of the week of December 17th, 2023, Windward's data shows a
two-year low of area visits in Bab-el-Mandeb for container vessels,
which marks a decrease of 27% compared to the weekly average in
2023.
The newly launched route deviation capability will provide
stakeholders with enhanced visibility, enabling them to anticipate
challenges and develop contingency plans, thus minimizing
disruptions to the supply chain and allowing them to manage costs
more effectively. Early knowledge of impacted shipments enables
companies to optimize their operations, whether it's
adjusting timelines or reallocating resources to ensure timely
delivery.
"Windward has its finger on the pulse with all matters related
to maritime risk, be they compliance or supply chain related," said
Ami Daniel, Co-founder and CEO of
Windward. "Less than a month into Russia's invasion of Ukraine, we launched our Russia compliance tool, now we have launched
this capability to equip our customers with a first of its kind
tool to deal with this unprecedented new challenge. This rapid
deployment shows the robustness of our platform and technology and
its ability to swiftly adapt to clients' changing needs."
Windward's models, developed by maritime and AI specialists, are
specifically trained to understand the multitude of factors
affecting the movement of goods at sea. Using Deep Learning (DL)
models, Windward's Route Deviation Exception will alert
stakeholders to any deviation from the original route. This allows
supply chain partners – including logistic service providers,
freight forwarders, cargo owners, shippers, container ports,
terminals, liners, and more – to take the next step and utilize
actionable insights, to make more well-informed, fact-based
decisions, and provide accurate updates for both internal and
external stakeholders.
About Windward
Windward (LSE: WNWD), is the leading Maritime
AI™ company, providing an all-in-one platform for risk
management and maritime domain awareness needs to accelerate global
trade. Windward's AI-powered decision support platform and
exception management offers a 360° view of the maritime ecosystem
and allows stakeholders including ocean freight forwarders,
shipping companies, insurers, energy companies, banks, and
governments to make real time, predictive intelligence-driven
decisions to achieve business and operational readiness.
For more information visit: https://windward.ai/.
Media Contact
David Hoffman
Headline Media
david@headline.media
+972-52-842-1955
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SOURCE Windward