Shoultz Invited to Speak at SNAME Maritime Convention

October 27, 2016

Marine Technology Trailblazer to Talk on IoT and Predictive Analytics

Dean Shoultz, the Chief Technology Officer of MarineCFO, has been invited to present his paper “Internet of Things (IoT), Machine Learning, and Predictive Analytics for the Maritime Industry” at the 2016 Maritime Convention of the Society of Naval Architects and Marine Engineers being from November 1-5 in Bellevue, Washington. The paper focuses on the impact of continued and rapid transition of maritime technology into mainstream fleet operations, marine safety management systems, and shipboard maintenance systems.

“The advent of affordable Big Data, Machine Learning, and the Internet of Things has generated a renewed interest in not only maritime Predictive Analytics but in a broad spectrum of technology-based tools which have become essential optimization tools regardless of fleet size, trade, or organizational framework”, Shoultz explained.

Maritime Predictive Analytics and Conditioned Based Maintenance was pioneered by the University of New Orleans in the early 1990s through private-public funding spearheaded by the Ship Owners Co-operative Program (SOCP). The resulting ShipNET initiative was later released commercially as WAVE and marketed through Lloyd’s Register but was deemed cost prohibitive due to the high implementation expense.

“Marine technology has certainly made huge strides since the 1990s especially in terms of functionality, accessibility, and ROI. Today a small Louisiana workboat company with limited financial resources can create a competitive edge through world class maritime enterprise technology solutions that were affordable to only the wealthiest and largest carriers less than 25 years ago,” Shoultz said, “Because of maritime technology’s downward cost trend and greater market accessibility the competitive gap between small and large vessel operators will continue to aggressively shrink.”

The Internet of Things (IoT) has spawned new and emerging applications for waterborne commerce which includes energy distribution monitoring, voyage planning (based on weather, traffic, and safety concerns), real time machinery monitoring, and ballast water management among other things according to Shoultz. Along with IoT has come a vibrant discussion on maritime cyber security of which Shoultz has been at the forefront suggesting that Safety Management Systems should require a cyber security component.

“The increasing move towards shipboard systems automation interfacing with shore-based systems via the internet can create cyber vulnerabilities which, if subjected to cyber attack, could do real harm to navigation, engineering, or communication software. Protection of these systems from hacking should be of utmost concern to vessel operators,” Shoultz suggested.

Shoultz’s MarineCFO has been serving the United States offshore and inland workboat industry since 1999 with the mission to be the technology thought leader which provides products and services that empower workboat operators with Vessel Enterprise Resource Planning through sustainable data collection, tasking, and decision making tools.

About MarineCFO
MarineCFO provides technology leadership and digital transformation solutions to the maritime industry, enabling our customers to operate more safely, securely, and profitably.

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