Leading global commercial maritime software company Venson Nautical has announced its strategic acquisition of Oceanbolt, a dynamic data solutions product for bulk commodity trade flow analysis and marine shipping intelligence.
According to Venson, Oceanbolt's data solution provides web-based and API access to high integrity, real-time data on commodity trade flows, freight tonnage flows, live and accurate vessel positions, port congestion, port activity, and turnaround times – instrumental insights for strategically managing demurrage.
Since the inception of the Norway-based venture in 2019, Oceanbolt's innovative data platform has earned the respect of an impressive client base of dry bulk owner-operators, commodities traders, supply chain coordinators, and tonnage charterers.
Oceanbolt combines a best-in-class AIS processing engine with a proprietary geospatial database of port and berth polygons to allow computationally expensive calculations to be processed in a matter of seconds. The company processes 30+ billion data points, makes 60+ million daily observations, and tracks 5+ billion tons of cargo each year over 140 commodities.
As the appetite for decision-ready data continues to intensify, Oceanbolt will provide Veson clients with the opportunity to benefit from a robust and dynamic data intelligence solution with more direct access to key market insights and analysis of trade flow, congestion, and global vessel events. By providing real-time data on a multitude of external variables that impact decisions for all stakeholders in the marine contract, Oceanbolt will strengthen the integrity, depth, and breadth of data available to Veson clients in support of its goal to transform the way they work and make decisions. In addition, the company will also provide Veson with new opportunities to serve commodity traders and supply chain scheduler users more robustly. It will be offered as a standalone product for Veson clients, with future potential to integrate its data into the Veson IMOS Platform directly.
Commercial capabilities
As a robust commercial platform with a value that is widely recognised by the world's leading owner-operators, commodities traders, and tonnage charterers, the Veson IMOS Platform provides Oceanbolt clients with the dynamic tools and capabilities needed to bring data to life in the moments where it can make a significant possible impact. Besides, Veson possesses robust expertise and specialised functionality that can add tremendous value to clients in the dry bulk, tanker, and energy segments.
John Veson, CEO, Veson Nautical, said, ' Our two organisations are deeply aligned in our mission to empower the maritime shipping and commodity trading communities to make the best possible decisions with the greatest possible agility.'
Niclas Dæhli Priess, Co-founder, Oceanbolt, said, 'There are clear benefits from combining Oceanbolt's analytics-focused solution with Veson's extensive suite of products and industry knowledge. With shared resources from Veson, we expect to see the accuracy and functionality of Oceanbolt's algorithms further enhanced. Additionally, VIP users will benefit from having additional data and increased visibility at the right time when making trading or commercial freight decisions.'