Online position lists: an aid to the tanker broker, not a replacement
27 Mar 2019by Craig Jallal
The tradition tanker brokers’ position list can now be instantly checked against an online system
VesselsValue has launched Position List, an AIS-based product that uses VesselsValue’s proprietory cleaned-up AIS information and artificial intelligence algorithms to instantly and confidentially indicate if a tanker is available to work within laycan dates of a loading area.
VesselsValue’s chief operating officer Adrian Economakis was keen to point out that Position List does not replace the tanker broker. “Position List is an aid for tanker brokers and charterers to instantly pinpoint the availability of tankers.”
The first question is, of course, how does VesselsValue know if a tanker is open? “We don’t know 100%, no one does as some fixtures are private. We use logic and research, and we can show levels of accuracy,” said Mr Economakis.
In practical terms, the user can compile their own position list using parameters such as ship specs, location, arrival dates, speeds and use of transit zone, which are saved into the system.
The launch version covers VLCC, Suezmax and Aframax tankers.
The Position List system uses the following logic engines:
- Fixtures Logic: Fixtures are collected in real-time from hundreds of global sources. The fixtures are input and cleaned for inaccuracies, duplications, rumours and misinformation. Historical fixtures have been checked against related vessel movements to determine if the charter likely took place. Current and future reported fixtures are compared against current vessel positions and destination logic to determine if they could realistically happen.
- Destination Logic: Uses current and historical AIS data, derived AIS trading history and geographic restrictions to make a meaningful prediction of where the vessel is heading. This is now version 3.1 of the logic.
- Open Logic: A vessel will typically be open if it is in ballast and is within the specified sailing days of the load location. However, laden vessels, or those in shipyards can also be open if they can discharge their cargo at their destination or finish their time in the shipyard and make it to the load location in ballast within the laycan.
- Exclusion Logic: Examples of reasons for vessels being excluded are: too far away to make it to the laycan, not a spot market participant, vessels not emitting AIS for a prolonged period, vessels used for storage or in layup, extended ballast journeys and transit zone restrictions.
- Fixtures Logic: Past, current and future reported fixtures are checked through multiple processes to eliminate rumours and misreporting.