Both companies operate in the expanding software as a service (SaaS) maritime sector.
Q88 founder and president Fritz Heidenreich said “Both iMarine and Q88 share a vision for making the global shipping industry more open and connected. Substantial value can be unlocked when users are empowered to share selective information and work collaboratively, to access disparate information, and to turn static data into powerful insights. When given the right technology guiding the right people, the possibilities are endless. I believe both companies are well positioned for strong future growth.”
“The partnership between Q88 and iMarine Software came naturally as we both share a technology vision and how it can be deployed to connect the industry and create efficiencies. Existing solutions have not been adapting to current market needs and technology trends, and SeaProc is positioned to be the preferred solution for the industry,” said iMarine Software president and chief executive Issa Odeh.
Q88 was founded in 2001 by Mr Heidenreich and the company is best known for developing Questionnaire 88 or Q88 which is described as a tool for capturing and sharing business-critical vessel, vetting and officer data among authorised stakeholders. This was recently updated.
Q88 has since produced SaaS products in tanker broking, commercial management, cargo handling and tank cleaning. The company also now provides similar SaaS products for the dry bulk sector.
The expansion of the product range has been organic and through acquisition. In 2008, Milbros Software, a company that had a database of over 10,000 chemical cargoes, sold its software to Q88. That database has since been expanded to over 12,000 chemical cargoes.
With a reported 3,000 clients covering over 10,000 vessels, a move to the procurement side of SaaS is a logical step. SeaProc is described as giving access to real-time procurement information, streamlined communications, and many other features to improve procurement management.
It is an entirely cloud-based technology, accessible from any internet enabled device and is said by Q88 to be far more efficient and cost effective than any other online marketplace.
Tanker vetting will be discussed by CDI general manager Capt Howard Snaith, JB Inspections director Capt John Bussell and Sunstone Assurance head of assurance Capt Mandeep Singh at the Tanker Shipping & Trade Conference, Awards & Exhibition, 20-21 November 2018.