Demurrage

Laytime agreements and associated demurrage costs can create significant fiscal exposure and occupy valuable resources.  Trade and supply groups are looking to demurrage teams to help reduce the financial risk and drive efficiency gains.  If you work in demurrage, then understanding when laytime has been exceeded, determining vessels and terminals that are prone to delays, and effectively negotiating claims in a timely manner, are all important to your success.

Navarik Inspection™ provides a log of operational events from inspectors/ expeditors that can be used to identify when laytime has been exceeded and demurrage incurred.  The system also generates comparison reports on vessel or terminal performance based on their reported laytime.  This information helps demurrage teams predict vessel and a terminal performance and is key to ensuring efficient and trouble free voyages.

Moreover, when demurrage has ocurred, Navarik Claims™ can help operational groups improve the management of demurrage claims through a transaction-based portal that brings together all the global parties involved in the claims settlement process.  The Navarik Claims portal standardizes the communication workflow between multiple parties and brings greater transparency to negotiations.  The increase in visibility decreases the time required to manage claims, reduces time bar issues, and improves document retention.