18 June 2021
Recently, Teekay embarked on a project to transform the way we collect, analyze, and report market insights and financial information to our partners. The resulting digital systems, CRAFT & HELM, allowed us to improve efficiency, empower decision making, and increase transparency with our roster of clients.
Our Commercial Management team has always taken pride in the high level of personalized service and expertise we bring into our customer relationships. For many years, our dedicated teammates took a manual approach to noting, analyzing, and reporting on market trends. As we continue to pursue large scale digitalization projects across the Teekay Group, our Commercial Management team devised a way to democratize access to fleet performance and market data to improve the way we work and provide increased transparency to our partners.
Enter CRAFT and HELM: two integrated digital solutions that power our Commercial Management Franchise (The Teekay Revenue Sharing Agreement, or ‘RSA’), with real-time data and market analysis while also delivering the transparency our RSA partners rely on to empower their business decisions.
CRAFT is a cloud-based database utilized by our Chartering, Bunker Procurement, and Business Development teams across the world to collate real-time systems driven and manual entry data all in one place. CRAFT provides our team with a system to capture fixtures in the market, record all transactions, and generate reports. Utilizing these capabilities results in better decision making and improved earnings.
The HELM is a web-based dashboard that pulls data from CRAFT to provide real-time commercial market data, vessel performance, and voyage analysis to our RSA partners.
Together, CRAFT and HELM work to deliver industry-leading insight to our partners on all ships and transactions in the market, giving the RSA and our partners a competitive edge. The systems eliminate the labor-intensive process of manually inputting data entries and enables access to this data across all teams. By making it easier to input and access data, CRAFT and HELM can power our chartering team’s decision making and enable them to produce detailed market analysis and reporting.
By utilizing these systems, RSA partners gain access to:
- detailed daily market reports covering all transactions in the market including market assessments by the chartering teams
- projected earnings and distributions,
- fleet finances,
- market commentary,
- operations data,
- and historical fixtures and voyages for the fleet.
We are proud to showcase the industry-leading collaboration and transparency CRAFT and HELM enables between Teekay and our RSA partners.