PortLog, the world’s first port time management platform, and a subsidiary of Marcura, announced a landmark deal to provide its solution to the entire fleet of Pacific Basin, one of the world’s leading owners and operators of modern handysize and supramax dry bulk ships.
The PortLog platform will be utilised across all of Pacific Basin’s over 260 owned and chartered vessels, which make over 5,000 port calls every year in around 600 ports across 100 countries. This will enable the company to dramatically reduce the risks and costs associated with time spent in ports, as well as driving operational, cost and environmental efficiencies within the port environment and ‘last mile’ of the supply chain.
The development also plays a part in Pacific Basin’s wider sustainability strategy; increasing their vessels’ operational efficiencies thereby reducing fuel consumption and associated emissions within the port environment. This not only supports the wider industry drive to meet the International Maritime Organization’s (IMO) decarbonisation targets, but also increases Pacific Basin’s competitiveness in the eyes of customers as an efficient and progressive operator.
PortLog is a single platform and digital solution combining standardised Statement of Fact (SoF) data with AIS, weather, and berth-level restriction data, which will enable Pacific Basin to measure and analyse its vessels’ turnaround times in ports, and deliver insights into costs, berth-level restrictions and productivity.
Using PortLog, Pacific Basin will be able to estimate ports costs (including potential discounts and tariffs), reduce risks and identify opportunities related to port stays by predicting port time and delays at a terminal level, having up-to-date information on real-time terminal restrictions, weather and rain impact as well as port holidays.
Through adopting PortLog’s knowledge management infrastructure, the ‘Learning Loop’, Pacific Basin will have the capability to share key insights at terminal level across the company and its entire fleet, starting with the more than 1,400 Marcura Observations available in the platform from day one. The PortLog team will also work with Pacific Basin to ensure customised implementation of the solution for chartering managers and operations managers, enabling the powerful analysis of specific data to drive usage and set KPIs, as well as developing intelligence and insights from Pacific Basin’s port calls.
Much progress has been made within the shipping industry to increase operational efficiencies within seaborne trade through vessel optimisation, digitalisation and clean technologies. However, there is a significant latent efficiency within ports where vessels will spend as much as 40% of their time, incurring large costs, unplanned downtime and an increase in unnecessary and avoidable emissions.
Commenting on the development, Kristian Helt, Chartering Director, Pacific Basin, said:
“The shipping industry is rapidly transforming, becoming increasingly complex and rightly focusing on how it can reduce emissions and meet IMO decarbonisation regulations. We embrace the challenge of decarbonisation and have integrated sustainability into our business and strategy. We are investing in digitalisation and state-of-the-art systems and digital solutions that are needed to drive greater operational and cost efficiencies and reduce our environmental impact. In conjunction with this, harnessing data to provide real insight and intelligence enables better decision making. Utilising an advanced platform like PortLog is representative of our strategy and commitment to such investments and to delivering a more optimised and efficient freight service in our customers’ supply chain. This enhances our competitive advantage, provides more value for our customers and supports the decarbonisation of the shipping industry.”
Jens Poulsen, Group CEO, Marcura, said:
“There are a host of tools within the market available to help ship owners and operators optimise and drive efficiencies while at sea. It is now clear that the opportunity for tramp shipping to further improve efficiencies and reduce costs and emissions now lies within the port environment; with PortLog we are helping companies solve this crucial last piece of the voyage optimisation puzzle. We are delighted that a company with a market leading reputation like Pacific Basin has chosen to partner with us. We are confident that we will be able to make a significant and sustainable difference to their operations, enabling them to better estimate their time spent in ports, increase efficiencies, reduce risks and emissions and solve the unpaid time problem that many owners and operators are currently suffering from.”