We recently released our maritime tracker update and included some new segmentations and features.
One of the key additions of the new update includes utilising the Clarkson’s World Fleet Register which enabled us to reduce the double counting of vessels between ship owner, ship operator and ship management companies in the sample. This had two profound effects; our total vessel count from the sample dropped slightly but the total number of listed shipping companies expanded significantly.
In addition to this, we have also included some ARPU analysis for each vessel. As service level agreements are highly confidential between the shipping company and service provider, we have attempted to provide a “best effort” gauge on service fees to allow readers to understand commercial aspect of the maritime connectivity marketplace. These service fee estimations are based on our annual research report, “The Future of Maritime Connectivity” and end-user interviews who provide estimates to us.
These monthly revenue bands have been applied to each vessel in the database. This is for the airtime package only and excludes revenues from L-band backups, VSAT equipment leasing, other hardware and other value-added services.
These monthly ARPU ($) bands are:
· Band A: below $1,500
· Band B: $1,500 – $2,000
· Band C: $2, 001 – $3,000
· Band D: $3,001- $4,000
· Band E: $4,001 – $5,000
· Band F: above $5,000
Consequently, we have been able to calculate an airtime package commercial total revenue for each of the segments: overall sample, general merchant, container merchant, tanker merchant, bulk merchant, ro-ro merchant, offshore energy and passenger.
We also have a segmentation for VSAT system provider showing the shares of Intellian, Cobham, KVH and others.
Readers should note – this is a sample of the VSAT vessel equipped market. At present, we have collected 16,534 vessels. However, with the removal of vessels that do not have active VSAT connectivity, such as new builds or inactive vessels, our total figure decreases to 15,095 vessels. These numbers have decreased from the last quarter for two reasons, the first is that our vessel-by vessel methodology has allowed to remove unconnected vessels. Secondly, double-counted vessels between companies with group relationships have also been removed. The inclusion of ship management companies can also result in double counting. We aim to build up the sample to the total global VSAT commercial market of approximately 48,000 to 50,000 vessels.
Key Headlines
- Inmarsat Solutions overtook Marlink to become the largest service provider, in our market share sample, based on the number VSAT vessels served.
- There is still a significant gap in the number of vessels noted between the mentioned top two companies and the other service providers. However, KVH and Navarino also hold a substantial lead over the rest service providers within the sample collection.
- SES, with its direct-to-market business, is growing strong and manages more than 500 vessels directly. Readers should note this does not include vessels on its Skala platform served by other service providers.
The chart presents all the vessels collected in the database by VSAT service provider – VSAT Vessel Count by Service Provider
Finally, Starlink Maritime has 116 vessels noted within this tracker update edition, excluded from the above chart. However, the actual number of vessels using its new maritime services will surprise many readers. We have a dedicated Starlink Maritime report which readers can purchase, please email info@valourconsultancy.com and insert “Starlink Maritime” in the subject line.
For more information about our maritime tracker service, please click here.
