Data Convergence

to Insight
GRE G WI LKI NS
VICE PRESIDENT, GLOBAL COMMERCIAL SOLUTIONS
VESON NAUTICAL
Agenda
• Introduction

• Why Are We Discussing Big Data?

• General Example of Big Data

• Shipping Examples of Big Data

• Conclusion
Integrated Maritime Operations
System (IMOS) and Veslink
PLATFORMS FOR COMMERCIAL SHIPPING DATA

Charterers Counterparties

Operators Service Providers

Finance Voyage Partners

Traders Vessels
Today’s Challenging Shipping
Market
• 8 years of market volatility
• No clear indication it is going to improve
• Low rates
• Baltic rates vary around the globe
• Global supply and demand changing dramatically
• Bunker costs vary greatly

“Freight rates and secondhand values are expected to remain low

during the next two to three years, while newbuilding prices are
expected to return to the lower levels seen in early 2013.”
- Danish Ship Finance (Danmarks Skibskredit
A/S) Shipping Market Review, May 2015
Data Analytics to Make Decisions

“In a rapidly changing global business environment,

the pressure on organizations to make accurate and
timely decisions has never been greater. The ability
to identify challenges, spot opportunities, and adapt
with agility is not just a competitive advantage but
also a requirement for survival.”
Harvard Business Review 2012: “The Evolution of
Decision Making: How Leading Organization Are
Adopting a Data-Driven Culture”
How Are You Making Decisions?

In good markets, only

the most disciplined will
ask themselves how
they can improve.

In difficult markets,
everyone needs to ask
themselves how they can
improve.
In good markets only the most disciplined will ask themselves how they improve. In difficult markets you are challenged to make your self better to

Adapt or Die
 What is an example
Credit Score
of Big Data? MORTGAGE

data data

725
data data
data

data
data
data
data
data

data data data

data
data data
data
data

data data data

data data data

data
data data
data
data

data
What is the Conclusion?

USA Credit Score

Excellent Credit 750+
Good Credit 700 – 749
Fair Credit 650 – 699
Poor Credit 600 – 649
Bad Credit Below 600
The Data

Volume Variety
Collect lots of data and Capture data from
ensure it’s diverse scenarios,
comprehensive representing a broad
view

Veracity Velocity
Assess sources of Efficiently collect data in
information and validate near real time
it’s correct

Source: IBM
Ask Insightful Questions
What action should I
take?
Decision management

What could happen?

Predictive analytics

2
Why did it happen?
Reporting and analysis
1
What happened?
Discovery
Example 4.
Sharing Data with Partners
Sharing Data with Partners

International
global materials
company
Hires vessels in on
spot or short TC basis
Sharing Data with Partners

Wanted to…
• Share ETA and Change
information with:
• Customers
• Internal Traders
• Management
• Manage port costs and
agent information
International
effectively
global materials
• Ensure visibility to
company
loading
Hires vessels in on and off-loading
spot or short TC basis
data in a usable format
Sharing Data with Partners

Prior to Veslink
• All done via email
• Not standard nor
recorded
• Not associated with
any context
International
• No standard
global materials process of
company delivering
information to other
constituents
The Solution

With Veslink
• Automate the process
of data gathering
• Standardize the flow of
information
• Store that information in
a standard format that
could be easily utilized
• Visualize and report on
International the information to all
global materials the recipients
company
• Automate the process
of delivering the
information
Questions our Customers Use
Data to Answer
• For Operators:
• What is the profitability of a contract?
• How is budget performing against forecast?
• What is the profitability of a particular route?
• How is a vessel performing?
• Should I slow steam?
• For Owners:
• Where is my vessel?
• How is it preforming vis-à-vis the contract?
• Cash flow vs. budget vs. market?
• For Charterers:
• Are my estimates right?
• Where are my exposures to the market?
• Can I do it more profitably vs. the market?
• What is available in the market today?
Conclusion
• Research to understand the variables that
affect your business.

• Compile and integrate data from your sources

to achieve visibility.

• Ask insightful, predictive questions that your

data can answer.

• Monitor and adjust the questions you are

answering as-needed.

• Visualization will help to make your data more

readable and usable to a broader audience.
 Thank you!

For more information, please contact

gwilkins@veson.com or info@veson.com