Maritime software provider Veson Nautical has taken over Norway-based Oceanbolt, a data-as-a-service company that offers marine shipping intelligence for the dry bulk commodities and shipping operations market.

Oceanbolt’s data solution gives web-based and application programming interface (API) access to real-time data, including freight tonnage flows, commodity trade flows, live vessel positions, port congestion and port activity.

By integrating an automatic identification system (AIS) processing engine with a geospatial database of port and berth polygons, Oceanbolt quickly processes computational calculations, stated Veson Nautical.

Commenting on the deal, Veson Nautical CEO John Veson said: “The industry expertise, marketing insight, and technical capability that the Oceanbolt team has delivered to the industry is truly remarkable.

“Our two organisations are deeply aligned in our mission to empower the maritime shipping and commodity trading communities to make the best possible decisions with the greatest possible agility.”

Oceanbolt co-founder Niclas Dæhli Priess said: “With shared resources from Veson, we expect to see the accuracy and functionality of Oceanbolt’s algorithms further enhanced. VIP users will benefit from having additional data and increased visibility at the right time when making trading or commercial freight decisions.”

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The acquisition is anticipated to expand Veson’s expertise and resources.

Veson clients will gain more direct access to market data and analysis of trade flow, bottleneck and international vessel events from Oceanbolt’s solution.

The solution is also said to enhance the ‘integrity, depth, and breadth of data available to Veson clients’ by offering real-time data on several external variables.

In addition, the deal is expected to offer Veson new opportunities to support commodity traders as well as supply chain scheduler users.

With future prospects for direct amalgamation of Oceanbolt data and the Veson integrated maritime operations system (IMOS) Platform, Oceanbolt will be offered as a standalone product for Veson’s clients.