https://gcaptain.com/cargometrics-founder-and-ceo-scott-borgerson-resigns/
Boston-based CargoMetrics Technologies was founded by Borgerson in 2010 as data-driven investment company that uses proprietary software to provide real-time insight into the global shipping industry. The company has long been considered a front-runner in the space of big data in shipping and has attracted investments from tech bigwigs such as Eric Schmidt, former CEO and executive chairman of Google, and hedge fund investor Paul Tudor Jones. In 2017, the company entered into an equity agreement with Maersk Tankers, giving the A.P. Moller-Maersk unit access to CargoMetrics’ data and software.
https://gcaptain.com/maersk-tankers-invests-tech-hedge-fund-cargometrics/
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.
The investment is in line with the more than 100-year old conglomerate A.P. Moller-Maersk’s push into new technologies as global trade becomes increasingly more digital.
“In the partnership, we will accelerate our use of digital solutions to enable our business strategy,” said Maersk Tankers Chief Strategy and Transformation Officer Soren Meyer.