Oldendorff Taps Harbor Lab for Port Transaction Accounting

April 9, 2024

Oldendorff Carriers and Harbor Lab team (Photo: Harbor Lab)
Oldendorff Carriers and Harbor Lab team (Photo: Harbor Lab)

Harbor Lab announced it has secured a new contract with one of the world's largest dry bulk shipping companies - Oldendorff Carriers.  

Harbor Lab’s software-as-a-service (SaaS) platform centralizes and simplifies the management of port fees and related costs, providing real-time, accurate information on disbursements that brings clarity and efficiency to port transactions for all parties.  

Sven Möller, Managing Director Operations of Oldendorff Carriers, said, “Whilst a lot of shipping companies are watching and waiting, Oldendorff has always been embracing change and efficiency at all levels. Digitalization and platforms such as Harbor Lab who are offering automated solutions/processes will continue to change how our industry will operate in future.

"It will reduce operational cost, improve efficiency, data quality and give our employees more time to concentrate on Oldendorff's core business.”

Known as “disbursements accounts”, DAs are the costs that arise to a cargo ship during its time in port and it’s the second largest annual expense for a ship management company. By pre-planning the costs that will be incurred during a port visit, DAs allow the charterer or operator to ensure that the vessel is not incurring any unnecessary charges. These DAs are highly irregular, varying from port to port depending on local factors as well as global economic trends. These payments are largely still handled through manual processes which lack transparency. Harbor Lab said its SaaS platform reduces the administrative burden for shipping companies and improves the transparency and cost evaluation for settling DAs.

"We are beyond thrilled to embark on this journey with a titan in the maritime industry, Oldendorff Carriers," said Antonis Malaxianakis, founder & CEO of Harbor Lab. "To have one of the largest bulk shipping companies in the world decide to contract with us is a testament to the strength, and global nature of our platform."

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