VV’s automated Position List allows users to see which vessels are available to pick up cargo at any global location with the click of a button. The service complements the traditional position list through providing an alternative and instant, objective and data-driven view of candidate’s vessels, competition and availability, all with deep supporting data.
It also helps users understand localised vessel supply to help in negotiation, rate prediction and related decision making.
How does it work?
In typical VV style, users are able to fully design their own position list, picking criteria including ship specs, location, arrival dates, speeds and use of transit zone. Location can be any port, region or country in the world, as well as any possible location though selecting it on an interactive map.
Compared with traditional methods, VV generates an automated position list based on AIS vessel positions, GIS location information, vessel specifications and four key processes:
- Open Logic: Whether the vessel will be ‘open’ to receive cargo at user-defined locations. Laden vessels or those at shipyards can also be open if they are able to make it to the load location in ballast within the laycan.
- Destination Logic: Captain’s reports can be unhelpful or misleading, therefore Destination Logic has been built (and is now at v3) to predict the vessel’s next move. Current and historical AIS data, derived AIS trading history and geographic restrictions make a meaningful prediction of where the vessel is heading.
- Exclusion Logic: Vessels being on COA, used for storage, in layup, or subject to transit zone restrictions are, amongst others, reasons to exclude a particular vessel.
- Fixtures Logic: Past, current and future reported fixtures are checked through multiple processes to eliminate rumours and misreporting.
“We are continuing to revolutionise the maritime industry, from algorithm driven valuations to real-time vessel trade analysis,” says Adrian Economakis, COO and Head of Trade and Position List products at VV. “Now the automated Position List based on big data and cutting edge technology will provide much needed real-time and objective intelligence to the chartering and trading markets.”
Speaking about automation of jobs within the shipping industry, Adrian states: “Our technology helps our clients work more efficiently and effectively by automating laborious and time-consuming tasks. This allows our users to concentrate on making good decisions rather than spending time collating and interrogating data.”
Economakis has set his sights slightly further than other data providers. “We currently provide this service for VLCC, Suezmax/LR3, and Aframax/LR2, with the other Tanker, Bulker and Gas types to be provided to our clients shortly.”