Last checked at 22 Feb 2022 07:00
22 February 2022
Windward Ltd.
("Windward", "the Company")
Windward Launches AI-Powered Ocean Freight Visibility Solution
First customers secured for solution which solves supply chain visibility challenges
Windward (LON: WNWD), the Maritime AI Company, today launches its Ocean Freight Visibility solution, solving it believes one of the most critical issues currently affecting global trade. The new solution uses Windward's decade of AI and maritime domain expertise, IP and technology to offer a new product for the logistics market. The Ocean Freight Visibility Product will alert freight forwarders and cargo owners to any potential delays to the shipping of their cargo in real time, allowing them to regain control of their containers' voyage data, elevate the customer experience they provide while reducing operational costs.
With an ecosystem of over 250,000 Beneficial Cargo Owners and Freight Forwarders globally, Windward's SaaS solution provides entry for the Company into significant new market segments. The first new customers have already been secured, including DSV, the Global Transport and Logistics business, Metro Shipping, the UK's leading privately owned logistics provider to leading British and international brands, and Cargo Amerford, one of the leading logistics companies in Israel. All three have been design partners in the building of Windward's Ocean Freight Visibility product.
The global supply chain has been severely disrupted during the COVID-19 pandemic. The maritime shipping industry transports around 90% of world trade1, yet ocean liner reliability has also never been lower - with a mere 30-40% rate of on-time arrival2. Meanwhile, the cost of shipping cargo has never been higher, with ocean freight rates up 1500% over the last two years3. Windward believes improved supply chain visibility powered by large data sets and predictive insights will equip freight forwarders with the information necessary to respond effectively to constantly changing conditions, be it shifting weather, workforce shortages, or port backlogs.
The Company's IPO that took place in December 2021 was aimed at providing Windward with more resources to accelerate its growth strategy, entering new markets as well as expanding within existing ones. The Company is pleased to launch the Ocean Freight Visibility solution relatively early in the year, allowing expansion into a new addressable customer base.
Ami Daniel, Co-Founder & CEO of Windward,
"The current supply chain crisis has demonstrated just how little visibility there is on the whereabouts of maritime cargo. With some market commentators suggesting it will take years for a more 'normal' situation to return, the creation of solutions to help manage supply chain risk is critical to bringing more certainty to maritime trade. Freight forwarders are key to making the supply chain more efficient, and we are proud to bring our years of expertise in Maritime AI to give them real-time visibility and provide actionable insights for their shipments so they can provide a more competitive service.
"Our team has worked tirelessly to bring this solution to market, significantly expanding our addressable opportunity, and we are delighted to already welcome our first customers."
Further information on Windward's Ocean Freight Visibility solution can be found here: https://windward.ai/solutions/ocean-freight-visibility-ofv/.
1 OECD, "Ocean shipping and shipbuilding"
2 Sea Intelligence. (27.12.21), "Schedule reliability continues to be under 40% in 2021"
3 Freightos Data, "Freightos Baltic Index (FBX): Global Container Freight Index"
For more information, please contact:
Windward Ltd. | Via Alma PR |
Irit Singer, CMO | |
Canaccord Genuity (Nominated Adviser & Broker) | +44(0)20 7523 8000 |
Simon Bridges / Andrew Potts
| |
Alma PR | +44(0)20 3405 0205 |
Caroline Forde / Kieran Breheny / Hilary Buchanan | windward@almapr.co.uk |
About Windward's Ocean Freight Visibility Solution
The solution allows users to input their containers' data, and proactively mitigate risks by monitoring critical shipment disruptions affecting container ETAs. The system alerts in real-time about any evolving delay allowing them to take action with their customers. The solution includes daily alerts and insights via email and is available through an API integration with existing transportation management systems or a web application.
Ocean Freight Visibility leverages Windward's 11 years of deep maritime expertise, military-grade insights, and Maritime AI, to provide the most accurate ETA updates and predictions. The solution uses billions of data points and data sets from various sources including carrier data, weather data, location and AIS data, as well as vessel, port, and terminal data to garner insights and predictions for freight forwarders and provide much-needed visibility into the supply chain.
About Windward
Windward (LON:WNWD), is the leading Predictive Intelligence company fusing AI and big data to digitalize the global maritime industry, enabling organizations to achieve business and operational readiness. Windward's AI-powered solution allows stakeholders including banks, commodity traders, insurers, and major energy and shipping companies to make real time, predictive intelligence-driven decisions, providing a 360° view of the maritime ecosystem and its broader impact on safety, security, finance, and business. The company is publicly traded on the London Stock Exchange, For more information visit windward.ai.