Building business on facts
For Eva Errebo, Head of Intermediate Chartering at Maersk Tankers, Active Position Taking is all about using its resources in the most efficient and intelligent way.
There can easily be a 40% difference in the earnings between staying in a local market and sending a vessel somewhere different – and for an operator of more than 100 vessels, that can make a big difference on the bottom line, Errebo says.
“Our top priority is of course to win consistently in the market,” she adds. “That means we have to make money and we have to beat our competitors. To do that, we have to make sure that we engage and employ our fleet in the most optimal way.”
Previously, Cesar Niño – Assistant General Manager and Charterer for Maersk Tankers in New York – might have made the best of it and looked for a cargo to pick up in a nearby location. But when he turned to Maersk Tankers’ new analytical setup, which builds on statistical modelling and forecast data to predict where the best opportunities will come up next, he spotted something promising on the other side of the Atlantic.
“I knew I could do better in Europe thanks to the data, so I gave a discount to the customer on this particular vessel to go there,” Niño says. “In a sense, I let the market beat me – and in the past this would have been a no-no – but in the end, we beat the market and benefited in the longer term.”
Taxi to Hamburg
By arranging the trip to Hamburg to cash in on higher rates, Niño was leaning on the analytical setup and forecast data that Maersk Tankers is using to position its vessels for their next cargo, a little like planning a taxi service to be where the fares and demand will be highest.
This is part of a wider drive called Active Position Taking, under Maersk Tankers’ new Taking Lead strategy. It aims to beat the market by making the best decisions, using both historical data and forecasts to support and supplement experience and business acumen.