Demurrage goes online

Voyager Portal has launched a new web-based tool for optimising the often complex demurrage process, while streamlining claim calculations and management. The company's new demurrage module reduces processing time by automatically capturing, logging and registering data from statements of fact to help companies improve contracting and port operations. "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," said Matthew Costello, CEO, Voyager Portal, adding that disruptions caused by the war in Ukraine has already seen dry bulk demurrage rates soar to US$70,000 per day for shipments from Russia.