HarborLab, a port cost management platform based in Athens, has addressed the challenges facing technical managers in Asia. This study shows that many technical managers in the Asia region still continue to use traditional tools like Excel for managing their husbandry costs. Meanwhile, port costs, especially in the areas of fuel supply, crew changes, and inventories, clearly require updating and optimization.
Challenges in Husbandry Cost Management
Anthony Malakianakis, founder and CEO of HarborLab, points to the lack of transparency and visibility of profit and loss in husbandry costs. He states: "Husbandry costs have never been as transparent as commercial port costs." This lack of transparency has led to husbandry costs being subject to less oversight.
One major issue in this area is the complexity of invoices. A port call may involve hundreds of pages of documentation from port authorities, captains, tugboat operators, customs brokers, fuel suppliers, and repair companies. Pricing can even vary within a specific port, and additional costs such as demurrage and equipment rental may be added later.
Comparative Analysis and Potential Savings
HarborLab's research indicates that 75% of technical managers in the Asia-Pacific region still use Excel for managing husbandry costs, while this figure is 40% in the Europe, Middle East, and Africa (EMEA) region. This difference highlights the necessity for a change in cost management approaches in Asia.
In a controlled three-month trial with one of its clients, HarborLab demonstrated that vessels managed with this platform saved $220,000, while other vessels saved only $70,000. Malakianakis states: "The difference is not due to a single factor, but the biggest factor is comparison and evaluation." This evaluation allows managers to compare their costs with previous rates and other ports.
As the transportation industry increasingly uses data to analyze fuel consumption, vessel performance, and trip economics, Malakianakis argues that the same level of attention should be directed to every factor received from the port. In the area of husbandry costs, much of the information still remains in Excel spreadsheets.
