MarineTraffic, the world's leading provider of ship tracking information and maritime analytics, has partnered with maritime data specialists Signal Ocean to provide vessel valuations on its platform. MarineTraffic users will now see Signal Ocean's estimated value of the ship when viewing the 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.
The move is part of the MarineTraffic 2022 strategy to broaden the data available on its platform to its professional users and build a hub for the maritime industry. Since its launch in 2007, MarineTraffic has brought shipping movements to the world: the service currently has three million subscribers and achieves an average of six million visits to its website every month.
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.”
Signal Ocean Vice President of Business Development and Partnerships, David Watts said:
“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.”
In 2021 Chinese dry bulk port congestion helped drive freight rates upwards, lifting sale & purchase transaction volumes and the average value of dry bulk carriers. In January 2022, Signal's benchmark assessment for a 5 year old capesize bulk carrier was up 37% vs January 2021. Tanker valuations over the past 12 months have seen an accelerated drop in values, although the New Year started on an upward trend.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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