The Logbook
Welcome to Veson Nautical’s maritime shipping blog, The Logbook.
A logbook is a record of important events in the management, operation, and navigation of a ship. It is essential to traditional navigation, and must be filled in on a regular basis. Veson’s Logbook is the centralized record where our team of experts provide key insights on industry, technology, innovation, and more.
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May 27, 2020
A critical ingredient to any organization’s ability to develop and grow successfully is ready access to knowledge. As technology develops, businesses can choose from an ever-expanding range of specialized tools and systems to help them run specific areas of their business more efficiently. This offers huge benefits for growing business...
May 20, 2020
Risk management is top of mind for business executives across industries and geographies. This rings particularly true for the maritime industry, which is notorious for its volatile markets, strong business cycles, capital intensiveness, seasonality, and other nuanced complexities. Every day, maritime shipping professionals are faced with substantial risk tied to...
May 13, 2020
90 percent of the world’s trade is transported via sea. And yet, the seaborne supply chain represents a critical gap in visibility and control for most businesses. From exceedingly complex contracts, to highly specialized processes, changing regulations, and vast distances, the unique characteristics of oceanic trade make it all but...
May 6, 2020
When global maritime commerce regains momentum post-pandemic, 67% of shipping professionals plan to increase investment in technology—with supply chain visibility and real-time data as their chief priorities. And for good reason. Comprehensive visibility and access to high-integrity data have the ability to optimize nearly every business activity and drive a...
Apr 28, 2020
Digitalization is making waves in the maritime shipping industry. As the movement unleashes its potential to transform the industry for the better, it continues to become ever-more critical for maritime shipping leaders to develop digitalization strategies of their own. Today, two-thirds of shipping companies have begun their digital journey, and...
Apr 22, 2020
From pre-fixture chartering decisions through to post-voyage financials and analysis, each stage of the commercial maritime workflow is reliant on the people who drive action for every voyage. These many functional roles are essential building blocks that together enable the movement of ships and cargoes around the world. The maritime...
Apr 14, 2020
As COVID-19 Coronavirus affects more and more people worldwide, millions have been forced to work from home. Not surprisingly, this has led to a substantial uptick in the use of modern tools for project management and collaboration. Microsoft Teams, for example, has seen a 500% uptick in the number of...
Apr 8, 2020
In part one of this blog series on data standards and connectivity, we addressed why there is a need for data standardization in the maritime industry, requirements for achieving “standards,” and benefits that it offers to different maritime professionals. In part two, we will address the current state of the...
Apr 1, 2020
Did you know that approximately 70 percent of scenarios in which a digital transformation was unsuccessful were attributable to poor user adoption or lack of behavioral change? The reason? Not for choosing the wrong solution. Not for unmet requirements. The lion’s share of digital transformations fail because users are not...
Mar 25, 2020
We at Veson are incredibly fortunate to have a vast and diverse user base that is full of great ideas. It is no secret that we owe our success to our close partnerships with clients, who have consistently guided us towards building and deploying valuable solutions for the industry. However,...
Mar 18, 2020
The COVID-19 Coronavirus has swept across the globe, affecting entire countries, governments, industries, and not to mention our day-to-day lives. Restricting the spread of this viral respiratory disease, officially declared a pandemic by the World Health Organization (WHO) last week, is at the top of the global agenda – resulting...
Mar 11, 2020
The recent launch of IMO 2020 and ISO 19030, coupled with a wave of digitalization, has the maritime shipping space abuzz with talk of performance technology. And for good reason. The relationship between environmental impact and vessel performance is clear. Poor hull and propeller performance currently account for some 10...
Mar 3, 2020
It’s been about two months since IMO 2020 came into full effect. The regulation caps the amount of sulfur in emissions from commercial shipping voyages at 0.5% worldwide and at 0.1% in certain emission control areas, making it the most drastic bunker regulation that the industry has seen. As January...
Feb 26, 2020
Rooted in globalization, the maritime industry has been facilitating the exchange of goods and services for centuries. This sharing of resources requires a great deal of communication and collaboration across supply chains despite boundaries such as language, culture, geography, government, etc. However, as markets open, stakeholders multiply, omnichannel models proliferate,...
Feb 19, 2020
In recent years, the maritime industry has rallied behind digital technology. As more and more industry participants recognize the commercial benefits that come from digitalization, the maritime space is increasingly adopting corporate strategies to better reap those benefits. As this continues, organizations that do not harness the momentum of technological...
Feb 12, 2020
As technology advances and industry dynamics evolve, more and more maritime businesses are focusing their time, energy, and resources on digitalization—or is it digitization? These terms are frequently used interchangeably in articles, publications, and conversation, making the differences between them difficult to decipher. And yet, they are not synonymous. Gartner...
Feb 4, 2020
It’s no secret that cloud computing has become a way of life for enterprises across sectors. Industries like banking and biotech have been moving core enterprise functions to the cloud for well over a decade. In the maritime space, however, the move to the cloud has been characteristically cautious; as...
Jan 29, 2020
First of all, what is UI? User Interface (UI) design is the process of making interfaces in software that users will find highly usable, efficient, and intuitive. This is central to how we interact with technology on a daily basis, which is why SaaS companies care so much about it....
Jan 22, 2020
In the maritime world, demurrage is almost universally experienced. For the charterer, the cost of demurrage is financial. For the ship owner, however, the financial cost of demurrage is recouped, but its delays can have a lasting downstream impact. Demurrage rates are built into every freight contract, and typically focus...
Jan 15, 2020
Every day, traders and risk managers are faced with massive quantities of commercial and operational information. Markets are moving, traders are negotiating deals, and operators are running voyages, all at the same time. The sheer volume of data can be overwhelming. In order to properly manage your risk and market...
Jan 8, 2020
Digital tools are revolutionizing nearly every major industry in the world, including the maritime industry. As demand and processing power continues to soar, advanced technologies are becoming cheaper and therefore more ubiquitous, fueling ever-increasing data points and connection capabilities. Properly leveraged, this information presents tremendous opportunity for innovation that translates...
Jan 2, 2020
The Veson IMOS Platform (VIP), Veson Nautical’s end-to-end software platform for commercial marine freight and fleet management, is constantly evolving. With an average of 500 new features added to VIP every year, our clients are empowered with the tools they need to do their jobs efficiently and make data-driven decisions....
Dec 18, 2019
As we reflect on 2019, our thoughts turn gratefully to those who have made our progress possible. To our clients, partners, and friends around the world, thank you for another incredible year. Your partnership inspires us to constantly innovate for a better future of shipping. The Veson team put together...
Dec 6, 2019
“How is technology transforming the maritime industry?” When asked this question, the team of innovative leaders at Eagle Bulk Shipping reported that technology enables stronger connectivity, collaboration, and efficiency; which together propel sustainable growth and competitive advantage for maritime business. Eagle Bulk has witnessed the effects of digital transformation on...
Dec 6, 2019
The IMO 2020 bunker regulation is designed to reduce GHG (Green House Gas) emissions from commercial shipping lines, which account for nearly 90% of sulphur oxide and dioxide emissions internationally. The regulation reduces the sulphur cap for maritime fuel from 3.5% to 0.5%, effective January 1, 2020. With full compliance,...
Dec 6, 2019
As the shipping industry continues its digital transformation, industry innovators are leaning into technology tools that streamline workflows through connectivity and data automation. Taking advantage of technology’s power to drive efficiency and profitability is Norvic Shipping, a rapidly growing international dry bulk operator. In 2014, Norvic Shipping operated 77 annual...
Dec 6, 2019
Are you still managing voyage financials out of spreadsheets? Imagine the manual effort you could eliminate and the errors you could prevent if your voyage accounting data and processes were directly integrated with the chartering and operations workflows of your commercial marine business. As a financial professional, you know all...
Dec 6, 2019
Efficient, effective voyage management is the core function of any maritime Operations department, driving the practical and financial performance of individual voyages and entire fleets. The ramifications of one wrong decision echo throughout the rest of the deal chain. As the freight market continues to evolve, commercial maritime operators must make...
Dec 6, 2019
Quickly and accurately calculating freight is the core function within any Chartering department and forms the basis for the practical and financial performance of a given voyage. The ramifications of one wrong decision – one missed opportunity – ripples throughout the rest of the deal chain. As the shipping industry...
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