Boston-based maritime freight management solutions provider Veson Nautica has announced its intention to acquire vessel valuation expert VesselsValue, the latest sign of increasing consolidation in the market for maritime data.
The acquisition will add VesselsValue’s market-leading brand and proprietary data set to Veson Nautical’s existing products.
Founded in 2011, VesselsValue provides daily updated, automated, vessel-specific valuations, boasting a database of more than 81,500 vessels. By combining VesselsValue’s products and services with Veson’s existing solutions, customers are expected to see a more comprehensive product offering with access to reliable and timely data inclusive of vessel features.
Existing VesselsValue clients will continue to receive the same product and services, with additional benefits such as improved model updates. Mutual clients can expect access to vessel and fleet valuation data within the Veson IMOS Platform.
The acquisition is set to be finalized in early May. Upon closing, VesselsValue’s maritime brand and product line will become part of Veson’s suite of services. The area of VesselsValue that focuses on aviation will be spun out into a separate, standalone company.
“VesselsValue brings a wealth of knowledge and experience to our organization, and we look forward to them joining the Veson team,” said Veson Nautical’s CEO & Co-Founder, John Veson. “In addition to valuing the world’s fleet, VesselsValue has a sophisticated analytical valuation methodology which we will harness to provide our clients with deeper insights to promote sustainable commercial and operational decisions.”
Richard Rivlin, VesselsValue’s Founder & CEO, added: “This is a massive moment for VesselsValue. We are incredibly excited to become part of the Veson ecosystem. Connecting to Veson’s powerful platform will drive VesselsValue further towards our mission to make maritime markets transparent. Clients will now have access to a wider range of unique maritime intelligence and first-class support.”
Veson Nautical claims its solutions are responsible for managing $109 billion in freight sold and moving 4.4 billion tons in annual trade each year. VesselsValue claims 2,500 users across more than 600 global clients including major banks, leasing companies, shipowners, investment funds, hedge funds, lawyers, advisors, and government regulators. The company has nine offices globally including London, Singapore, Shanghai, Hong Kong, and Oslo.
The deal would mark the latest consolidation in the market for maritime data following the acquisition of AIS data provider MarineTraffic.com and its affiliate Fleetmon by Brussels-based data intelligence and cargo-tracking company Kpler.
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