Online disbursement accounting platform provider Harbor Lab has introduced a new online tool that instantly generates a port cost estimate for shipping lines.
The Port Cost Estimator provides operators with an estimate of port expenses to support travel cost calculations and timely decision making to determine the best option for the vessel.
Traditionally, port rates are obtained directly from the port or shipping agent, take time to obtain, and are often the last expense operators need to perform TCE (Time Charter Equivalent) calculations to secure an expedition.
With Harbor Lab’s new tool, an operator enters the ship’s name, port of arrival, activity – for example loading / unloading – type and quantity of cargo, and other specifications of the ship. The software, accessible through any computer or mobile device connected to the web, then instantly calculates a rough cost based on those details.
The tool was launched in July 2021 and complements the Harbor Lab Disbursement Accounting (DA) tool launched in March of last year.
The Port Cost Estimator is powered by high quality DA tool data and sophisticated algorithms to provide accurate estimates.
Harbor Lab CEO and Founder Antonis Malaxianakis said: âWe are delighted to launch our Port Cost Estimator which allows the ship operator to control the second largest expense of a voyage, after the costs of bunker fuel. With our new tool, the ship operator will no longer have to deal with delays due to different time zones in order to retrieve this information and gives the operator a head start over his competitors. Having worked in the disbursement field for Greek shipowners earlier in my career, I am aware of the time it can take to get reliable data on port costs and potentially lose business. Harbor Lab’s Port Cost Estimator was designed with ship operators in mind and key information is just a few clicks away.
While the estimates generated by the software are instantaneous, they are customized to the specific requirements of the vessel taking into account all the details provided. Costs are calculated using real-time port data collected from around the world by Harbor Lab’s team of experienced data scientists and maritime professionals.
Users can generate unlimited shipping cost calculations with annual fixed charges for using the tool.
Port costs are one of the many variable expenses required for accurate TCE calculations. Others include bunkering charges, agent charges, canal transit charges, and towing and pilotage charges. Harbor Lab’s DA tool provides a transparent overview of all expenses and connects the operator to agents through the system. The DA tool integrates seamlessly with the Port Cost Estimator to provide a fast, comprehensive and transparent overview to the operator.
All the tools are on the platform and no software downloads are required. Harbor Lab can also easily integrate its software with all ERP (enterprise resource planning) systems.