Friday, February 11, 2022

Value of Vessels Added to Popular Maritime Data Platform

Service Expansion for Information Site
Shipping News Feature

WORLDWIDE – To the three million or so subscribers who use its services, MarineTraffic, which tracks vessels and provides a range of maritime data, is an essential resouce. Now, as part of its MarineTraffic 2022 strategy to broaden the data available on its platform, it has partnered with another maritime data specialist, Signal Ocean to provide vessel valuations.

From its offices in Greece, the UK and Singapore MarineTraffic monitors global vessel movements using data gathered from a network of coastal AIS-receiving stations, supplemented by satellite receivers. It then uses algorithms and integrates complementary data sources to provide the shipping, trade and logistics industries with actionable insights into shipping activity.

The Signal group uses similar technology to provide a customised and personalised view of the tanker, dry bulk and container markets. It says this data-led approach also powers its own commercial tanker pool, Signal Maritime, enabling the in house chartering team to outperform its peers. Welcoming the partnership, MarineTraffic Chief Executive Dimitris Memos said:

“We are delighted to be collaborating with Signal to add credible vessel valuations to our platform. Additional data over the ship’s voyage or lifetime are critical to our millions of users.. Our vision is to leave no waters uncharted and provide more information via our platform than ever before. We will be announcing further significant enhancements to MarineTraffic in the coming months.”

The new agreement means MarineTraffic users will now see Signal Ocean’s estimated value of the ship when viewing a vessel’s details. This live and historical data, which is updated weekly, is derived from recent transactions and a sophisticated algorithm which takes in a range of data points including the vessel’s age, shipyard built, size, equipment or refits. The service will initially be available for tankers >25,000 DWT and dry bulk carriers >20,000 DWT. Signal Ocean Vice President of Business Development and Partnerships, David Watts commented:

“The data we provide on the Signal Ocean Platform and by way of APIs is popular with professionals looking for independent and accurate insight into the current values of fleets or individual vessels. We’re excited to see our data available on such a popular site.”