VLCC pool giant Tankers International (TI) is to start offering subscriptions to its fixtures app for the first time in exchange for upgraded features.
The app has carved out a niche in shipping by becoming the only publicly available source of comprehensive data for the global VLCC fleet — information once provided to just a select few brokers.
The new subscription will see different tiers of payment available, but a free version will remain in use.
The idea is to provide even better functionality for users and support market players in understanding current market developments.
The app was first launched in 2014 and is used by brokers, charterers, shipowners and investors for comprehensive planning and market intelligence.
It has received over 259,000 visits a month since it was re-launched in December 2021.
Paid subscribers will now benefit from faster data updates.
Users of a “plus” tier will benefit from additional information on bunker prices, fixing rates, laycan, demurrage and commissions, as well as a full breakdown of time charter equivalent (TCE) earnings calculations.
The company told TradeWinds this breakdown will include elements on storage, expenses for charterers’ and owners’ accounts, port costs, canal transit fees and net earnings.
“Pro” users will additionally benefit from cargo forecasts as well as WhatsApp notifications. Users will also have an option to receive fixture data via an API feed to integrate into their own systems.
The free app will be known as “basic”, and will continue to provide fixtures, but with some delay.
Time is of the essence
Tankers International chief operating officer Charlie Grey said: “We recognise that the current market climate means that shipowners, charterers and brokers alike all need quality data faster to support decision making.
“The new subscription options…have been designed to add even greater value and accessibility, including WhatsApp updates for top tier subscribers,” he added.
Grey added that the updates safeguard the continued development of the app, helping TI add even more functionality in the future.