The product tanker industry is a global, fragmented industry with multiple players. Due to complex supply and demand dynamics, markets are characterised by high price volatility. To win in the market, Maersk Tankers takes advantage of the volatility by forecasting where customers need vessels the most to cover their transportation needs and which markets yield the highest earnings. Based on our digital platform, we combine a wealth of data from our fleet’s 2,200-plus annual voyages to and from some 650 ports with our employees’ industry knowhow, customer insight and capabilities to increase accuracy in forecasting where, when and how our vessels can best service our customers and partners.
Another priority is to operate the vessels safely and cost-efficiently, keeping daily running costs at competitive levels, while retaining high safety standards and performance. Strong technical capabilities and experience across different vessel segments ensure maintenance is conducted timely and to the high standards of Maersk Tankers and the industry, contributing to a safe and reliable fleet and prolonging the tradable lifetime for the vessels. As a frontrunner in digitisation, Maersk Tankers is building new digital solutions that will improve ship-to-shore communications, allow vessels to increase efficiencies in managing spare parts and reduce costs through a scalable IT platform.
The third priority in the strategy is to retain and build strong partnerships across the industry, where partners pool their vessels with Maersk Tankers because we provide them with the opportunity to increase earnings and receive flexible services supporting their businesses. This provides partners with access to more customers through greater geographical coverage and greater exposure to the spot market while limiting some of the risks such as ballast legs and lengthy waiting time. Additionally, the pool points system, commission structures and reporting systems drive transparency for partners.