Tanker operators don’t have to be…
The factors that influence the operating environment for businesses are complex. Indeed, it is difficult to imagine an industry that has more complexity to deal with than the shipping industry.
Market forces dictate that the performance of tanker businesses is indexed to market price fluctuations of the cargo. Margins are often slender, and one ever-attendant problem is consistently achieving good profitability.
M&A activity is a natural result of competition in a marketplace. Competitive pressures expose weaknesses in businesses. Those that are slow to respond to changes in the market can fall behind and be ripe for the taking.
Stock market insight and analysis firms have a lot to say to the global investment community about the fortunes of shipping; perhaps it shouldn’t come as any surprise that speculation about M&A in the shipping industry is something of a running narrative.
Using manual methods like spreadsheets, or outdated legacy software systems is a weakness that is often the root cause of businesses underperforming financially.
These are things which give the general impression that the shipping industry is 5 years behind the curve of current trends and thinking. However, tanker operators using the most up-to-date technology solutions are overcoming this rather unflattering view.
Get ahead of the curve and ride the bow wave with Q88VMS
Q88VMS is the fastest-growing voyage management system on the market. It’s helping leading tanker operators to maximize operational efficiency and boosting profitability to outperform industry averages. It doesn’t just put you on the curve, it actually puts you ahead, letting you quite literally, ride the industry bow wave!
Q88VMS provides the vital hard decision support information that informs on how much money you can make (or lose!) on every voyage. The system is dynamic and real-time. It provides the key numbers you need in seconds, rather than minutes or hours, so you can react faster and seal those crucial deals more quickly.
Enter key variables and get instant indications of TCE. Factor in bunkers and take into account the costs of fuel loaded at different prices. Take into account laden and unladen speeds and get forward visibility to join up operations for several voyages ahead.
TCE is further enhanced by the Unique Variance Indicator which shows the positive or negative cost impacts of changing variables such as routeing, canal, port and anti-piracy security. The Unique Variance Indicator is not found in any other comparable system.
Q88VMS is a modular system in a layout of tile icons familiar to Microsoft Windows and Office 365 users. The modules offer access to a comprehensive and logical set of tools that use computing resources and centralized data in the cloud:
- Open Positions – Overview of cargo discharge and availability to take on new loads
- Estimates – Calculator for reckoning the financials of each voyage
- Voyages – Provides Financial Management for new business and Account Management functions to manage voyages
- Invoices – Tracks invoices and balances and part payments, compliant with accounting standards and bespoke integration with standard accounting systems
- Email – Integrate with operational email Inbox – one-click functionality to automatically go from an email to the info for each numbered voyage
- Reports – Powerful analytics – with Q88VMS it takes 30 seconds to do what takes half a day with Excel or half-an-hour with a comparable system
Q88VMS is priced to make financial sense paying for itself quickly. Annual costs for each vessel break down into a per day rate that makes it a ‘no-brainer’.
Be on the right side of the M&A equation with Q88VMS
While markets remain volatile and the operating environment uncertain, it is impossible to predict where the tides of business may take your tanker business in the future.
When businesses need to make consolidation decisions about merging or acquiring it is much better to be able to enter into negotiations from a position of strength.
Tanker businesses using Q88VMS are best positioned to have rock-solid operational financials that give them the advantage when matters such as consolidation are being considered.