MarineTraffic has teamed up with the Ioannis Martinos-led Signal Group to provide ship valuations on its vessel tracking platform.
The Greek digital technology company announced on Wednesday that it has partnered Signal Ocean to provide value estimates on each ship’s details page on the MarineTraffic site.
The current valuation will be available free, while accessing historical valuations will require a paid subscription.
“Additional data over the ship’s voyage or lifetime are critical to our millions of users,” said MarineTraffic chief executive Dimitris Memos.
The company said the move is part of its 2022 strategy to broaden the data available.
“Our vision is to leave no waters uncharted and provide more information via our platform than ever before,” Memos said. “We will be announcing further significant enhancements to MarineTraffic in the coming months.”
The valuation data, to be updated weekly, is derived from recent transactions and an algorithm taking into account the vessel’s age, size, equipment, retrofits and where it was built.
MarineTraffic said data will initially be available for tankers 25,000 dwt and above and bulkers 20,000 dwt and above.
As it stands, the company provides vessel locations via automatic identification system data, along with ship particulars such as length and dwt, historical voyage data and photos.
“The data we provide on the Signal Ocean Platform and by way of APIs is popular with professionals looking for independent and accurate insight into the current values of fleets or individual vessels,” said Signal’s vice president of business development, David Watts.
“We’re excited to see our data available on such a popular site.”
Athens-based Signal Group, which also controls commercial ship manager Signal Maritime, launched the Signal Ocean Platform in 2018.
