MarineTraffic defining Maritime Analytics

What is maritime analytics and how is MarineTraffic defining the global maritime analytics space?

In today’s ever-changing, fast-paced digital world, the need for accurate, real-time information is growing fast. In every aspect of our lives and works we consume, produce and rely on data to understand, plan and make informed decisions. 

The shipping world is no exception. Especially as the industry embraces digitalisation further with more and more professionals making use of the power of data and analytics to understand and address pain points, improve performance, optimise operations and base business decisions – confidently, faster and more effectively.

But first things first…what is maritime analytics, and what is their role in continuously adding transparency and visibility while solving some of the industry’s biggest challenges? 

What is maritime analytics?

Data is often mentioned as the new oil. Building on this common quote, analytical output can be seen as the refined product that fuels decision-support intelligence.

Maritime analytics is the systematic analysis of data to provide stakeholders in the maritime ecosystem with insights and tools to help them make better decisions for their work lives or businesses.

Practically put, it is the process of collecting and analysing data to produce and disseminate meaningful information and actionable intelligence around shipping-related activities. At any scale and for countless of applicable use cases.

Who uses maritime analytics?

The maritime analytics field is extensive with a multitude of diverse applications ranging across use cases in the domain. Similar to other industries, shipping professionals benefit hugely from the smart use of analytics. 

From ship owners and managers, supply chain professionals and cargo owners to port authorities and global maritime organisations, the penetration of data-driven solutions and analytics keeps expanding beyond situational awareness and real-time tracking.

Indicative examples include ship owners who are able to optimally plan the maintenance of their vessels and the selection of dry-docking facilities to maximise the overall effective utilisation rate of their vessels by considerably reducing disruptions. 

Ship operators that can select the optimal combination of route deployment and vessel allocation in order to achieve higher rates and minimise the waiting times for new orders. 

Supply Chain professionals and logistics hubs acquire insights that support proper handling of their inventories and efficient planning of ordering and storing. In this way, a steady flow of goods to the market is ensured, properly connecting the supply and demand needs of involved parties and cargo owners.

Port operators and authorities can use maritime analytics to optimise port calls, reduce port congestion and improve berth and terminal utilisation while timely coordinating the provision of nautical and other maritime services in a much safer and transparent way.  

Global organisations and policy-makers can keep track of developments and pave the way for informed decisions around environmental goals, compliance, and overall guidelines. Leading market-related and financial institutions can extract invaluable information about shipping trends across markets over time and commodities flows to predict ahead. 

Why is maritime analytics important? 

Beyond specific use cases and applications, the availability of maritime analytics together with the end-to-end visibility that is brought forth make the realisation of higher goals possible. Contributing to more efficient, greener and safer operations while supporting crew wellbeing and materialising on sustainability targets.

Maritime analytics also enables enhanced and faster strategic decision-making, helping to minimise potential risks attached to any business decision leading to productivity gains, superior performance, cost optimisation and scaling economies.

Access to maritime analytics translates into next-level transparency and predictability, ensuring awareness and reliable addressing of wider industry challenges across subdomains. For example, optimal utilisation of more and more assets, improved voyage monitoring and information relay based on real-time analytics make concepts such as Just-In-Time sailing possible.

In a recent session of the MarineTraffic Maritime Analytics Conference, Stellios Stratidakis, MarineTraffic Head of Data said that there is a notable, continuous acceleration within the shipping industry to adopt data solutions over time. 

Gradually moving from what started as a potential disruption to now becoming a reliable toolbox of high quality on a global scale.

Driving future growth with MarineTraffic maritime analytics

At MarineTraffic we know how to take the vast amount of maritime data streaming into our systems every day and turn it into actionable information with the industry needs in mind.

Thanks to our ever-expanding global network of terrestrial AIS stations, we collect and process billions of data points in near real-time. Partnering up with all the major satellite providers, we combine AIS data with additional rich datasets and information sources.

Using advanced algorithms we ensure the high data quality of all fused data sources to generate maritime analytics and value-adding data products while always keeping the end-user in mind.

Our approach to data and analytics is driven by our passion and desire to address real-life challenges blending domain expertise with analysis and software development. This helps us deliver insights and tools that take the past into account, paint an accurate picture of the present, and add predictability.

The impact of analytics in a global shipping industry that is maturing digitally and accelerating forward provides the needed competitive edge. At MarineTraffic, the go-to source for global ship tracking and maritime intelligence, we are always looking for new ways to unlock more opportunities and to inspire anyone that relies on shipping, to make smarter decisions. Leading to greater efficiency and, eventually, into a more sustainable world!

 

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