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Geospatial Insight launches new monitoring service

Published by , Senior Editor
Tanks and Terminals,

Geospatial Insight Ltd has announced the launch of TankWatch, a new service to monitor and report global oil storage.

TankWatch uses image recognition and spectral profiling combined with rapid data processing to report on critical global oil storage terminal locations and provide time-sensitive insight into global oil inventories and storage levels. The company combines cloud-penetrating radar imagery together with other high-resolution satellite gathered information to ensure that the required data is captured, regardless of weather and visibility conditions. This combination of satellite and aerial data ensures that TankWatch is able to deliver accurate oil inventory analytics, tailored to meet the needs of oil industry professionals and traders.

Driven by the recognition that official reported data from the energy sector was not always robust or comprehensive, Geospatial Insight found that accurate and up-to-date information regarding oil storage levels, particularly in some locations, was very difficult to source. In many cases it has been impossible to obtain for some countries and regions and when available, it is often at an aggregated level. TankWatch offers a more granular and reliable level of insight into current oil inventory levels, thereby gaining an understanding of the global trade balances of the physical oil market, with resultant advantage for corporate strategy and planning, fundamental analysis, trading and investing.TankWatch provides storage level data for each site within 24 hours of satellite image acquisition, ensuring that subscribers benefit from first-to-market advantage.

The company uses actively tasked satellites to capture images at the same time in monthly, weekly, or client defined measurement periods with satellites focused on key oil storage locations across Asia, the Middle East, Africa, Europe and the Caribbean. A bespoke, premium service is also available to clients that have their own list of alternative locations where they require regular storage intelligence.

Dave Fox, CEO of Geospatial Insight, said: “The completion of Geospatial Insight’s Series A fund raising last year has enabled us to invest significantly and thoughtfully in new satellite based intelligence and information sources for our global client base. TankWatch is the first of these to come to market and we are proud to be able to offer what we believe is the very best in class oil storage information source, providing the most accurate, transparent and reliable oil storage intelligence, and ultimately value to our clients.”

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