HarborLab Reveals Significant Savings in Port Call Expenses

• The shipping industry faces mounting costs in various areas, including fuel, insurance, crewing, environmental compliance, and digital security.
• Disbursement accounts, covering port-related expenses, are emerging as a significant financial burden for operators, ranking second only to fuel costs.
• HarborLab, a port cost management software provider, helps identify and rectify discrepancies in port expenses, saving operators substantial amounts.
• Case studies illustrate the platform’s impact, enabling informed financial decision-making and fostering cost efficiency across global shipping operations.

According to Hong Kong Maritime Hub, Shipping operators are navigating multiple financial challenges as they prepare for 2025. These include rising fuel prices, increased insurance premiums, higher crewing expenses, and substantial investments in environmentally compliant technologies and digital security measures.

A particularly significant cost is disbursement accounts, encompassing all port-related expenses during vessel port calls. These costs frequently rank as the second-largest expense for commercial vessels after fuel, exacerbated by spot trading and rerouting caused by geopolitical factors. Such conditions lead to unpredictable and often inflated port expenses.

Port Expense Management Challenges

The unpredictability of port expenses arises from a lack of standardization and transparency in tariffs across global ports. Calculations are often complicated by outdated data, unclaimed rebates, and improper adjustments for actual operations. Even within the same port, costs can vary significantly due to differing terminal or berth pricing policies.

These complexities make it challenging for operators to accurately calculate or predict port costs, often leading to errors and financial inefficiencies.

HarborLab’s Solution to Port Cost Discrepancies

HarborLab, an Athens-based software provider, offers a port cost management platform designed to address these issues. The software detects discrepancies in port expenses, helping operators make informed financial decisions and reduce costs.

Key discrepancies identified by HarborLab include differences between charged port expenses and official port tariffs, outdated data, and errors in the application of port rules. For instance, operators may be charged unnecessary Light Dues if a vessel revisits the same port within a specific timeframe.

Case Studies Demonstrating Cost Savings

Several case studies highlight HarborLab’s effectiveness in identifying and rectifying port expense discrepancies:

• A dry bulk carrier operator saved $231,250 across 142 port calls, averaging $1,628 per call.
• Another dry bulk carrier operator with 20 vessels saved over $792,000 in port call fees.
• A tanker operator with 20 vessels achieved savings of $1.26 million over two years, averaging $1,085 per port call.

Simplifying Port Expense Processes

HarborLab’s platform offers real-time access to up-to-date tariff data and comprehensive cost analysis tools, streamlining port expense management. The software reduces reliance on outdated manual accounting methods, which often lead to inflated costs, disputes, and inefficiencies.

According to Antonis Malaxianakis, CEO of HarborLab, the platform empowers ship operators to navigate port expenses effectively by offering the most accurate and transparent data available.

Addressing a Global Problem

Port expense discrepancies are a global issue, not limited to specific regions or ports. By leveraging HarborLab’s solutions, operators can:

• Avoid duplicate charges.
• Optimize service requirements, such as the number of tugboats used.
• Ensure compliance with the latest tariff rules.

These efforts lead to improved financial planning, minimized disputes, and enhanced operational efficiency, helping operators navigate the growing complexities of global shipping costs.

Conclusion

HarborLab’s innovative approach to port cost management enables shipping companies to save millions by addressing discrepancies and inefficiencies in port expenses. By providing accurate data and decision-making tools, HarborLab empowers operators to manage costs effectively, ensuring sustainability and profitability in an increasingly challenging economic environment.