Existing Success

VAKT has solidified its presence in the European market, with over 70% of NWE Barges trades now processed through our platform. Most customers rely on VAKT for post-trade confirmations, operations, and logistics.

To build on this success, we aim to expand into new markets, with global vessels identified as the next major opportunity to enhance ROI for our customers.

The Next Frontier: Global Vessels

The introduction of global vessels will provide the largest ROI uplift to date. VAKT is collaborating with customers to extend the use of vSure and vLogistics to global vessel trades, with a full product launch targeted for summer 2025.

Why Vessel Trades Are Complex

Vessel trades involve unique challenges that require flexibility and innovation:

·      High Customization: Vessel trades often involve multiple parties and jurisdictions, creating opportunities for customization and complexities. Standardizing workflows will be critical.

·      ETRM Gaps: Specific deal details are often recorded as plain text. VAKT’s AI ensures this data is captured and structured.

·      Legal Variability: Establishing MTAs for every trade isn't feasible. VAKT supports alternatives like GT&Cs with side letters and trade recaps.

·      Global Complexity: Unlike the European market, global trade involves diverse laws, regulations, and location-specific nuances. VAKT’s AI and APIs are equipped to capture and address these intricacies.

Differentiating Through Blockchain Technology

VAKT leverages blockchain as a foundational technology to transform vessel trade operations:

·      Transparency and Trust: The decentralized blockchain ensures all participants have access to a single source of truth, reducing disputes and enhancing collaboration.

·      Immutable Records: Blockchain’s immutability guarantees trade data cannot be altered retroactively, addressing compliance and audit concerns.

·      Decentralized Communication: By standardizing and securing all post-trade data exchanges through blockchain, VAKT minimizes errors and ensures alignment between counterparties in vessel transactions.

Discrepancy Management: Enabling Seamless Vessel Trade Expansion

The complexities of vessel trades often result in mismatched trade data between counterparties, especially when multiple parties, jurisdictions, and layers of customization are involved. VAKT’s discrepancy management features and auto-pairing functionalities are purpose-built to address these challenges, ensuring accurate and efficient communication throughout the post-trade lifecycle.

These capabilities become even more critical as we expand into the global vessel market. By leveraging blockchain’s decentralized nature and advanced AI-driven data capture, VAKT provides a secure and standardized system that empowers customers to handle vessel trade complexities with confidence.

Reducing Operational Noise and Enhancing Efficiency

VAKT automates complex workflows, such as nominations, confirmations, and document exchanges. This automation minimizes errors, accelerates trade cycles, and reduces operational noise, enabling customers to focus on strategic priorities.

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Contact Us to Learn More

·      Sandip Kanago, VP Middle East and Asia – sandip.kanago@vakt.io

·      Charles Waple, Director EU and US – charles.waple@vakt.io

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