Voyager automates the demurrage process
Voyager Portal has launched a Demurrage Module, a new online tool for optimising the demurrage process while streamlining claim calculations and management.
The module reduces processing time by automatically capturing, logging and registering the data from Statements of Facts (SOF) to help companies improve contracting and port operations. Matthew Costello, the CEO, of Voyager Portal, stated: “Demurrage has always been a risk factor and a significant cost in bulk and break-bulk shipping, especially during any supply chain disruption when problems with demurrage can be accentuated.”
By uploading SOFs into the module’s parser, users can access a dashboard of automatically generated insights including port/berth congestion, average load/discharge rates, weather delays, and durations such as Notice of Readiness (NOR) to berth. Relevant events are then passed into a laytime calculator to evaluate deductions and create final demurrage estimates.
Costello continued: “Extracting data from SOFs has always been a tough problem to solve, until now. Our new Demurrage Module helps our customers unlock insights and demurrage- saving opportunities 95% faster than they could before. Chartering, demurrage, and operations teams will see tremendous value from this new addition to the Voyager Portal product line.
“With accurate and comprehensive data in hand, insights can really help with demurrage claims and the upfront negotiation of contract clauses for COAs or spot deals. Enhancing shipping operations and demurrage through technology has always been Voyager’s core business. But this new tool is a real game changer for charterers, traders, shipowners, brokers, agents, surveyors, terminals, or any other group that makes decisions based on information extracted from Statements of Facts.”