TANKERS INTERNATIONAL USES MAGENTA'S MULTI-AGENT SCHEDULING SOFTWARE (OCEAN) TO OPTIMISE ITS FLEET PERFORMANCE

Tankers International (TI), one of the largest operators of modern double hull VLCCs (Very Large Crude Carriers), uses Magenta's leading edge multi-agent software (Ocean) to help identify and schedule the most profitable combination of cargoes for its fleet of more than 40 vessels. The market in which TI operates is extremely volatile with demand and transportation costs fluctuating on a daily basis. Magenta has worked closely with TI's London-based agency, Tankers (UK) Agencies Ltd., to develop and deliver a sophisticated, real-time, ocean logistics tool to help optimize the performance and management of its modern double hull fleet.
The Magenta solution allows TI to assess potential cargoes in the marketplace, match these against its vessels’ specifications and calculate voyage profitability. Further, unlike traditional rules-based systems, multi-agent technology responds to real world changes affecting a schedule and re-plans the most advantageous schedule at that point in time. For instance, when a new cargo is available, the system decides on the optimum vessel for the cargo, based on TI’s fleet strategy.
Jon Birkholm, Deputy CEO at Tankers (UK) Agencies, said "We are pleased to be running the live version of this software and already see its benefits. Operating and scheduling a large fleet requires constant attention. We need to react speedily for customers, providing schedule and vessel flexibility to meet their cargo programs and we need to make optimum use of the vessels to keep unproductive idle time to a minimum. Ocean is helping us to maintain our high service standards.”

Frank Lee, Executive Chairman of Magenta added: “The adoption of this unique technology is indicative of TI’s innovative and open-minded approach to their operations and we look forward to more companies following their lead.”
Applied to resolving Tankers International’s scheduling requirements, Magenta’s Ocean fleet scheduling software:
• Generates and ranks all feasible shipping options for all vessels within seconds,
• Calculates detailed Activity Based Costing, Key Performance Indicators and financial results based on scheduling decisions,
• Delivers effective management of shipping data on a state-of-the art platform,
• Provides a web-based application for effective global team working.
A free demo of Magenta’s Ocean Fleet Scheduling Software is available online on Magenta’s Website;

http://www.magenta-technology.com/solutionsandservices/oceanscheduling/demo/

Launched in 1999, Magenta Technology is recognised as a world-leader in the development and commercial application of multi-agent technology, developing applications that enable businesses to gain competitive edge by enhancing traditional technology and enabling companies to react quickly and intelligently to real-world events as they happen. Ground breaking systems have been developed in the areas of supply chain logistics, scheduling, resource allocation and manufacturing.
Magenta's clients are innovative companies that wish to gain competitive edge within their markets and are willing to invest in technology to secure a successful future. Typically these companies turned to Magenta to deliver success after traditional package-based solutions have been found wanting.
Magenta employs over 140 people, with software development taking place in Russia. This has proven to be an excellent location for securing the services of highly experienced, skilled and creative staff who challenge and enhance Magenta's customers' thinking.
Magenta Corporation Ltd is one of the portfolio companies of Eurovestech Plc (www.eurovestech.co.uk)
For more information about Magenta Technology please go to www.magenta-technology.com

Magenta technology
www.magenta-technology.com
Nadia Yakounina
nadia.yakounina@magenta-technology.com

This release was published on openPR.