“We are in the midst of transformational change in maritime analytics,” says David Francoeur, chief marketing officer at Genscape Vesseltracker.
Boston, MA (PRWEB) October 02, 2014
Capable of tracking over 120,000 ocean-going vessels each day, a new breed of innovation-minded services now offer unprecedented granularity, accuracy, and transparency within global commodity and energy maritime markets.
The demand for comprehensive coverage and high data quality is not only increasing, but growing in complexity. Financial and physical market participants require more reliable ship tracking and even predictive analytics. Today’s more integrated ground-and-ocean-based supply chains are accelerating demand for greater transparency of market fundamentals.
“We are in the midst of transformational change in maritime analytics,” says David Francoeur, chief marketing officer at Genscape Vesseltracker. “Our proprietary network delivers an exceptionally high level of accuracy and comprehensive geographic coverage.”
Genscape’s sophisticated new maritime intelligence network aims to not only track, but also predict, the destinations and arrival times of the world’s entire maritime fleet. While Genscape’s self-learning artificial intelligence engine isn’t fully out of development, the raw ability of its proprietary monitoring infrastructure is already adding a new level of transparency to this historically opaque market.
Recently, Genscape Vesseltracker’s network highlighted that a cargo of Alaskan North Slope crude loaded September 26, 2014 at the Alaskan port of Valdez for delivery into the South Korean refining center of Yeosu.
As reported by Reuters on September 30, the U.S.-flagged tanker, Polar Discovery, sailed from the ANS export terminal at Valdez, Alaska, for east Asia. Yeosu is home to a GS Caltex-operated 775,000 bpd refinery, the world's fourth largest. Genscape Vesseltracker data indicates that The Polar Discovery is expected to arrive at Yeosu on October 10.
According to the U.S. Energy Information Administration, no Alaskan crude oil has been exported outside of the United States since 2004. Overseas exports of ANS are permitted by U.S. Federal law.
Responding to increased demand for its proprietary services, Genscape has set up a special website for market participants who wish to beta test their new maritime tracking and prediction services. For more information, please visit: http://info.genscape.com/vesseltracker
Genscape is the leading global provider of real-time data and intelligence for commodity and energy markets, driven to improve market transparency and efficiency. With thousands of patented monitors strategically deployed worldwide, Genscape is unique in its ability to collect and report proprietary market fundamentals in real-time or near real-time. Genscape delivers innovative solutions across a number of asset classes including: Oil, Power, Natural Gas and LNG, Agriculture, Petrochemical and NGLs, Maritime, and Renewables. Genscape clients often gain a competitive advantage, improve risk management, or increase operational efficiency. For more information, please visit: http://www.genscape.com
CORRECTION: ** A previous version of this press release had inaccurately stated the year in the headline as 1984. The correct year is 2004.