Is #laytime / #demurrage more a process or a negotiation? Feedback on this topic in the past was, of course, a mix of views, largely dependent on the industry sector commenting. The “hot” topic related to clauses, in charter parties and commodity contracts, that were open to interpretation leaving room to negotiate. The lack of clarity as a result of ambiguous laytime clauses in contracts leaves the door open to 'negotiations' and time wasted sorting them out. Often the time/effort spent by personnel sorting out the 'negotiated' point exceeds the actual value of the disagreement!! Studies have shown that more than 70% of laytime calculations are actually process based, ie: Charterer accepts the 1st Laytime claim sent in by the Owner. No to/fro negotiations needed. This is assisted by clear and explicit laytime clauses being written in the charter party. When analyzing the figures in greater detail, there appears to be a tendency for ‘negotiations’ to occur a lot more frequently in the SHEX trades where laytime clauses/exceptions are more prevalent and where such clauses are not always written in a clear, concise manner, minimizing the scope for different interpretations. A simple example relevant to all sectors is an “Anchorage-to-Berth Shifting” clause where frequently this clause is written in CPs as: ”shifting from anchorage to berth not to count as laytime – even if on demurrage”. Simple enough, it appears, until we look at the potential options for how one could interpret this clause when looking at SOF events. Is it: From ‘Pilot on board’ to ‘All fast’ Or ‘Anchor up’ to ‘1st line ashore’ Or ‘Anchor up’ to ‘All fast’ Or ‘Pilot on board’ to ‘1st line ashore’ And/or a multitude of other options if the SOF also includes ‘berthed’ as an event as well! One quickly sees how one can waste time negotiating just this point as it has been left open to interpretation. In comparison, Global Coal’s SCOTA contract form is 100pct explicit, providing: ‘’For the avoidance of doubt, the Vessel’s inward voyage to “all-fast” at any point of unloading in the Port (including any shifting between the earlier of the time of “anchor-up” and “pilot on board” at the point of anchorage and the time of “all-fast” at any point of unloading) will not be counted towards Laytime, Turntime or Demurrage’’ Explicit descriptions lead to less ‘interpretations’ and less time wasted in agreeing the ‘excepted’ event. The more one can encourage chartering and legal staff to make their CP laytime exclusion clauses explicitly describe which events should stop and restart the laytime clock, the quicker laytime/demurrage claims can be agreed. More a process than a negotiation?! Let us know what you think? #supplychain #commodities #chartering
SHINC
Software Development
Digitalising the laytime / demurrage vertical to drive port optimisation
About us
SHINC’s mission: To provide end-to-end visibility to the bulk market's laytime and demurrage vertical. SHINC aims to provide 'live' laytime data through the 'life of a voyage', from contract execution to financial payment, creating the most complete laytime/demurrage visibility in the industry. Our software engineers build user friendly software that aims to help improve processes, reduce costs, and give customers new insights into their 'laytime/demurrage book' that empower them to make proactive decisions and collaborate with partners more effectively than ever. Laytime and demurrage professionals no longer have to spend time searching through multiple emails and attachments with management not having a clear view of their overall position. The SHINC platform is driving the laytime process towards being a reactive process rather than a reactive one, enabling customers to reduce risk, save time and save money
- Website
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http://www.shinc.io
External link for SHINC
- Industry
- Software Development
- Company size
- 2-10 employees
- Headquarters
- Penryn
- Type
- Privately Held
- Founded
- 2023
- Specialties
- SaaS, Commodity, Shipping, Freight, Digitisation, B2B, Supply Chain, Logistics, and Collaboration
Locations
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Primary
Tremough Innovation Centre
Penryn, GB
Employees at SHINC
Updates
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How fast?!
SHINC's laytime management platform is Speedy!!! Up to 70pct quicker than today.... Want to see how we achieve this? DM me 'Yes' and I’ll send you a short video showing how we do it !! #demurrage #laytime #supplychain #commodities #freight #maritime #digitalisation
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Overrun with too many laytime/demurrage claims to calc, track, manage and process?
Too many laytime/demurrage claims to calculate, track, manage and process? Change is here! SHINC has #digitalised the process with our #saas solution that enables ship owners, charterers, traders, terminals and brokers to create, negotiate and agree laytime claims seamlessly. 👍 Reduce time to process claims by 50% 👍 Implement our software in hours not days/weeks/months 👍 Invite counterparts to negotiate and agree claims for FREE 👍 Manage everything in one simple screen 👍 Increase data visibility across departments eg: Chartering, Risk, Accounts Sign up for a free trial at www.shinc.io or Book a demo here: https://lnkd.in/e_a4HkfK and see how quickly your organization can benefit. #demurrage #laytime #supplychain #commodities #freight
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Is it time to upgrade how you manage your Laytime + Demurrage book???
Tired of managing your laytime / demurrage 'book' via Excel? Tired of endless email chains with pdf laytime calcs and multiple attachments? Welcome to SHINC! Speed up your laytime / demurrage process by up to 60% Interested to learn more? Book a demo with me here: https://lnkd.in/e_a4HkfK And I'll demonstrate how we can: Save you time Save you $$$$ and Reduce risk with our simple to use laytime / demurrage solution.. #laytime #demurrage #supplychain #digitalisation #commodities #freight
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Thanks to Flagship Founders for recognising SHINC in their 2024 Global Maritime Tech Startup Map alongside all the other brave new companies helping to shape the future of shipping.
🌍 Who is leading the way in the global maritime tech startup ecosystem? 🚀 Excited to introduce the 2024 edition of the Flagship Founders Global Maritime Tech Startup Map! 🚢 This year, we've mapped out 149 maritime tech startups and scaleups transforming the shipping industry from all corners of the globe. 🔍 A standout trend? The use of AI in companies has nearly doubled, showcasing the maritime sector's rapid adoption of AI technologies. This year's map is not just a snapshot of the current landscape but a testament to the dynamic and fast-evolving nature of maritime tech. 📈 As the industry continues to innovate, our map will evolve to feature new companies, categories, and regions leading maritime technology advancements. While we strive for comprehensiveness, we acknowledge the evolving and imperfect nature of our map. If you want to be considered for next year's map and fit within our criteria, we'd love to hear from you! Please email info@flagshipfounders.com. 🔗 Keen to dive deeper into our findings and understand our selection criteria? Link to our website in the comments. 💪 Our goal remains steadfast: to enhance visibility within the maritime industry, foster discussions beyond our network, identify emerging trends, and pave the way for a more digital, efficient, and sustainable maritime future. #MaritimeTech #Innovation #AI #StartupMap2024
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Multiple Emails + Attachments + Excel!! SHINC - the new and improved way to calculate and manage your laytime/demurrage exposure.
Still searching through emails and pdfs for your laytime calcs and supporting docs? Still managing your 'laytime/demurrage book' via excel?! Find it frustrating?! 😤 😤 😤 ⏱ Time spent searching ⏱ Time spent manually updating 💡 Isn't their a better way in this day and age?! Welcome to SHINC SHINC enables: 💥 Visibility of all your laytime / demurrage data on one platform 💥 Full negotiation history visible in one click 💥 Visibility for users, management, risk, accounts in a few simple clicks 💥 Simple and easy to use 👍 Save time 👍 Reduce risk 👍 Save money Want to learn more? Book a demo with us at: https://lnkd.in/e_a4HkfK or try for free at Free at www.shinc.io #laytime #demurrage #commodities #freight #supplychainsolutions #digitisation #saas #saasstartups #datavisibility #collaboration
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