Riviera – Expert opinions – Vortexa breathes new life into the freight market with groundbreaking tariff data

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Migrate to the digital age
I am by no means the oldest person working in the shipping industry, but in 2000 when the Nokia 6210 was introduced it was a game changer. My role as dry cargo charter assistant allowed me to attend our charter ships in ports as “super cargo” and report on progress.

Conversely, I could be contacted in the field (lunch!) To receive a response much sought after by an owner or a charterer via the broker. Back in the office, we then relied on a fax machine to receive lists and documents that would be duly annotated for review by the charter manager. Today my Nokia is considered by history to be a “cult” technology!

The evolution of data knowledge
Over the years, I have worked in many disciplines of commercial transportation. One area that has united them all to a greater or lesser degree is the large amount of data available. Many transport and trading companies have invested in data capture and recording systems; each seeking to build a large internal database that would someday be used for learning lessons and making business decisions, but none of them are real-time, nor do they contain the power to be forward-looking.

So where does this leave our modern day charterer? Always collecting tons of tonnage lists, always reviewing the myriad of opportunities, adding more computer screens to our workstations, and then, thanks to some fiery detective work and a excellent genius, to deduce what your competitors are doing! On top of that, Covid-19 has done its best to restrict our opportunities to exchange information.

What is the sentiment of the market? It still depends on who you ask!

Enter the era of empowerment
When AIS and satellite communications on board ships arrived, we could finally “see” the ships. The power of this information was the source of many satisfying conversations with an owner, who had been frugal with his vessel’s route!

Likewise, owners or operators ashore could receive ‘live’ reports and onboard data in an instant, some have even gone so far as to place their fleets on a digital map, so that visitors can see their vessels browsing. the world. However, the data has rarely been translated into its ultimate purpose; to bring scale and transparency to the physical world of shipping and allow the charter community to see real-time and future freight movements.

Welcome to the world of Vortexa!
There are of course many companies that can provide data, but there are very few systems that can turn data into something actionable and relatable. Vortexa sits at the confluence where real data meets deep technology and machine learning, bringing together all the physical aspects of the world of tanker shipping.

Vortexa launched its first four freight screens in the summer of 2021 to meet the four pillars of freight supply and demand; Fleet use, fleet allocation, vessel availability and congestion. Vortexa customers can see historical, real-time and future fleet movements and can customize the lens through which they view freight market dynamics.

I don’t claim to be a technician, but what I do know is that Vortexa’s powerful abilities are capable of accomplishing what an army of analysts would take years to assimilate; save a tremendous amount of time for charterers sifting through tonnage movement spreadsheets and, more importantly, ensure transparency in the freight market, allowing a decision to be made on something quantifiable.

The advent of Freight Pricing
It was only a matter of time before our customers asked us to answer this golden nugget: How much freight am I going to have to pay or how much will I earn?

In October 2021, we announced our groundbreaking partnership with The Baltic Exchange, the world’s leading independent source of maritime market information, to provide their freight pricing benchmarks alongside our on-time supply and demand metrics. almost real – “all in one view”.

Today, the Vortexa platform displays all the Baltic routes, but more importantly it covers the four fundamental principles described, allowing owners and charterers to see in near real time the pull and push of the dynamics of supply and demand on freight prices to assess what this could mean for future prices.

Vortexa customers now have revolutionary capabilities to trade confidently with counterparties using real-time information, efficiently time market entry, assess potential benefits and costs for each route, and mitigate downside. operational risks by assessing freight rates and metrics of tonnage demand and supply.

It is gratifying to see that we are actually solving the problems of the old and the new faces of the younger generation, who will be the architects of the maritime industry of the future.

I’ve been trying to make my team understand the link between availability and price for two years!“- Charter manager at large shipowner

It’s hard to think about the price of freight. I spend my whole week fighting fires
– Charterer at an oil major

It’s a very sophisticated tool, with great flexibility of who and what I want to show“-
Freight analyst.


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