Signal Ventures Ecosystem stories: Harbor Lab and Disbursements
This article examines recent progress and initiatives by the shipping industry to meet new IMO targets and provides Signal Ocean Platform data on emissions developments and trends.
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Disbursements: finding and eliminating invisible costs
Computer science is at the heart of Signal Ventures’ ecosystem of startups. Harbor Lab’s Chief Executive, Antonis Malaxianakis, explains how his disbursements platform uses technology to uncover hidden costs and supports shipping professionals
The thread that runs through Harbor Lab and all the members of the Signal Ventures ecosystem is using data to drive better decision making. Strides in data analytics, the increasing sophistication of owners and charterers and increasing transparency across the supply chain have powered a boom in tech startups and innovation. What sets the Signal ecosystem partners apart from its peers is its deep shipping know-how. This is certainly true for my company, Harbor Lab. Prior to setting up the business I worked for two major Greek shipping companies for more than seven years. During that time I realized how difficult it is for vessel charterers and operators to get a hold of accurate port tariff costs - a vital piece of information when calculating freight rates.
Today, Harbor Lab’s analysts unravel matrices that determine individual ports’ tariffs and create the complex algorithms that drive our online DA (Disbursements Accounting) and Port Cost Estimator Tools. It’s driven by software that offers a transparent and time-efficient way of working instead of relying on paper-heavy and error-prone DA checking procedures that require manual resources. We use technology to uncover invisible costs, create a level playing field and speed up company processes.Similarly, Signal, through its Signal Maritime and Signal Ocean divisions, is using computer science to deliver efficiency and commercial advantage to its customers. With so many synergies between our two companies it makes sense for us to share our experiences and collaborate where possible, and I was delighted to be invited to connect with Signal Group as a Signal Ventures Ecosystem Partner.
Starting a new business is never easy. It takes vision, courage, determination and hard work and I always tell my team that the first five years are the most difficult. Working with Signal Ventures during these early years for my company has, however, reduced many of the pain points startups usually experience and been extremely rewarding. It has exposed Harbor Lab to potential new clients and given us access to key industry players.
Panos Dimitracopoulos, CEO of Signal Maritime, has also shared invaluable advice, including the mistakes Signal made when it started operating nearly eight years ago, so that we can avoid repeating them. This insight has enabled Harbor Lab to grow as a company and develop new software far more quickly than I anticipated when I set up the company nearly two years ago.
Signal Group is also benefitting from the partnership.
Signal Maritime is using our DA Tool to handle its disbursement accounts for its ship management operations. I was delighted when Spyridon Fousteris, an associate disbursements analyst with the company, informed me that our online tool enables each associate to manage four times more vessels than it could with paper-based processes.It's evident that our software is supporting the industry in the way it was intended.
Fousteris’ team was also instrumental in the development of Harbor Lab’s Port Cost Estimator Tool and trialled the software whilst Harbor Lab’s software engineers fine-tuned the program.
Fundamental to the success of any fledgling business is the ingrained belief that what is being offered is important, and genuinely brings value to customers and the industry in which it operates.
Signal Group CEO Ioannis Martinos is taking a pioneering approach and bringing digitalisation to our millennium-old industry. Our collective desire to offer maritime new and better ways of working offers exciting opportunities and it is an honour to be an Ecosystem Partner with Signal Ventures as we work towards our shared vision for the industry.
Creating a sustainable world requires us to embark on a journey towards a zero emission future, where every step is a commitment to preserve our planet for future generations.
Albert Greenway
Environmental Scientist, Sustainability Expert
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Increased Use of Renewable Energy:
Shipping companies are embracing renewable energy sources to power onboard systems and reduce emissions during port operations. Solar panels and wind turbines are being installed on vessels to generate clean energy, reducing reliance on auxiliary engines, and cutting down emissions. Shore power facilities in ports allow ships to connect to the electrical grid, eliminating the need for onboard generators while docked.
Collaboration and Industry Partnerships:
Recognizing that addressing emissions requires collective action, shipping companies, governments, and organizations have formed partnerships and collaborations. These initiatives focus on research and development, sharing best practices, and promoting knowledge transfer. Joint projects aim to develop and deploy innovative technologies, improve infrastructure, and create a supportive regulatory framework to accelerate the industry's transition towards a greener future. The Zero Emission Shipping - Mission Innovation.
To pave the way for a greener future in shipping, the availability of alternative fuels plays a vital role in their widespread adoption. However, this availability is influenced by factors such as port infrastructure, local regulations, and government policies. As the demand for cleaner fuels in shipping rises and environmental regulations become more stringent, efforts are underway to improve the accessibility of these fuels through infrastructure development, collaborations, and investments in production facilities.
Liquefied Natural Gas (LNG) infrastructure has seen significant growth in recent years, resulting in more LNG bunkering facilities and LNG-powered vessels. Nonetheless, the availability of LNG as a marine fuel can still vary depending on the region. To ensure consistent availability worldwide, there is a need for further development of LNG supply chains and infrastructure. For biofuels, their availability hinges on production capacity and the availability of feedstock. Although biofuels are being produced and utilized in various sectors, their availability as a marine fuel remains limited. Scaling up biofuel production and establishing robust supply chains are imperative to ensure wider availability within the shipping industry.Hydrogen, as a fuel for maritime applications, is still in the early stages of infrastructure development. While some hydrogen vessels have been tested or introduced in the first quarter of last year, the infrastructure required for hydrogen production and distribution needs further advancement.
Ammonia, as a marine fuel, currently faces limitations in availability. The production, storage, and handling infrastructure for ammonia need further development to support its widespread use in the shipping industry.Methanol, on the other hand, is already a commercially available fuel and has been used as a blend with conventional fuels in some ships. However, its availability as a standalone marine fuel can still be limited in certain regions. Bureau Veritas in October 2022 published a White Paper for the Alternative Fuels Outlook. This white paper provides a comprehensive overview of alternative fuels for the shipping industry, taking into account key factors such as technological maturity, availability, safety, emissions, and regulations.
Creating a sustainable world requires us to embark on a journey towards a zero emission future, where every step is a commitment to preserve our planet for future generations.
Albert Greenway
Environmental Scientist, Sustainability Expert
Increased Use of Renewable Energy:
Shipping companies are embracing renewable energy sources to power onboard systems and reduce emissions during port operations. Solar panels and wind turbines are being installed on vessels to generate clean energy, reducing reliance on auxiliary engines, and cutting down emissions. Shore power facilities in ports allow ships to connect to the electrical grid, eliminating the need for onboard generators while docked.
Collaboration and Industry Partnerships:
Recognizing that addressing emissions requires collective action, shipping companies, governments, and organizations have formed partnerships and collaborations. These initiatives focus on research and development, sharing best practices, and promoting knowledge transfer. Joint projects aim to develop and deploy innovative technologies, improve infrastructure, and create a supportive regulatory framework to accelerate the industry's transition towards a greener future. The Zero Emission Shipping - Mission Innovation.
To pave the way for a greener future in shipping, the availability of alternative fuels plays a vital role in their widespread adoption. However, this availability is influenced by factors such as port infrastructure, local regulations, and government policies. As the demand for cleaner fuels in shipping rises and environmental regulations become more stringent, efforts are underway to improve the accessibility of these fuels through infrastructure development, collaborations, and investments in production facilities.
Liquefied Natural Gas (LNG) infrastructure has seen significant growth in recent years, resulting in more LNG bunkering facilities and LNG-powered vessels. Nonetheless, the availability of LNG as a marine fuel can still vary depending on the region. To ensure consistent availability worldwide, there is a need for further development of LNG supply chains and infrastructure. For biofuels, their availability hinges on production capacity and the availability of feedstock. Although biofuels are being produced and utilized in various sectors, their availability as a marine fuel remains limited. Scaling up biofuel production and establishing robust supply chains are imperative to ensure wider availability within the shipping industry.Hydrogen, as a fuel for maritime applications, is still in the early stages of infrastructure development. While some hydrogen vessels have been tested or introduced in the first quarter of last year, the infrastructure required for hydrogen production and distribution needs further advancement.
Ammonia, as a marine fuel, currently faces limitations in availability. The production, storage, and handling infrastructure for ammonia need further development to support its widespread use in the shipping industry.Methanol, on the other hand, is already a commercially available fuel and has been used as a blend with conventional fuels in some ships. However, its availability as a standalone marine fuel can still be limited in certain regions. Bureau Veritas in October 2022 published a White Paper for the Alternative Fuels Outlook. This white paper provides a comprehensive overview of alternative fuels for the shipping industry, taking into account key factors such as technological maturity, availability, safety, emissions, and regulations.
Signal Ventures Ecosystem stories: Harbor Lab and Disbursements
Posted by
Antonis Malaxianakis
|
March 24, 2022
Disbursements: finding and eliminating invisible costs
Computer science is at the heart of Signal Ventures’ ecosystem of startups. Harbor Lab’s Chief Executive, Antonis Malaxianakis, explains how his disbursements platform uses technology to uncover hidden costs and supports shipping professionals
The thread that runs through Harbor Lab and all the members of the Signal Ventures ecosystem is using data to drive better decision making. Strides in data analytics, the increasing sophistication of owners and charterers and increasing transparency across the supply chain have powered a boom in tech startups and innovation. What sets the Signal ecosystem partners apart from its peers is its deep shipping know-how. This is certainly true for my company, Harbor Lab. Prior to setting up the business I worked for two major Greek shipping companies for more than seven years. During that time I realized how difficult it is for vessel charterers and operators to get a hold of accurate port tariff costs - a vital piece of information when calculating freight rates.
Today, Harbor Lab’s analysts unravel matrices that determine individual ports’ tariffs and create the complex algorithms that drive our online DA (Disbursements Accounting) and Port Cost Estimator Tools. It’s driven by software that offers a transparent and time-efficient way of working instead of relying on paper-heavy and error-prone DA checking procedures that require manual resources. We use technology to uncover invisible costs, create a level playing field and speed up company processes.Similarly, Signal, through its Signal Maritime and Signal Ocean divisions, is using computer science to deliver efficiency and commercial advantage to its customers. With so many synergies between our two companies it makes sense for us to share our experiences and collaborate where possible, and I was delighted to be invited to connect with Signal Group as a Signal Ventures Ecosystem Partner.
Starting a new business is never easy. It takes vision, courage, determination and hard work and I always tell my team that the first five years are the most difficult. Working with Signal Ventures during these early years for my company has, however, reduced many of the pain points startups usually experience and been extremely rewarding. It has exposed Harbor Lab to potential new clients and given us access to key industry players.
Panos Dimitracopoulos, CEO of Signal Maritime, has also shared invaluable advice, including the mistakes Signal made when it started operating nearly eight years ago, so that we can avoid repeating them. This insight has enabled Harbor Lab to grow as a company and develop new software far more quickly than I anticipated when I set up the company nearly two years ago.
Signal Group is also benefitting from the partnership.
Signal Maritime is using our DA Tool to handle its disbursement accounts for its ship management operations. I was delighted when Spyridon Fousteris, an associate disbursements analyst with the company, informed me that our online tool enables each associate to manage four times more vessels than it could with paper-based processes.It's evident that our software is supporting the industry in the way it was intended.
Fousteris’ team was also instrumental in the development of Harbor Lab’s Port Cost Estimator Tool and trialled the software whilst Harbor Lab’s software engineers fine-tuned the program.
Fundamental to the success of any fledgling business is the ingrained belief that what is being offered is important, and genuinely brings value to customers and the industry in which it operates.
Signal Group CEO Ioannis Martinos is taking a pioneering approach and bringing digitalisation to our millennium-old industry. Our collective desire to offer maritime new and better ways of working offers exciting opportunities and it is an honour to be an Ecosystem Partner with Signal Ventures as we work towards our shared vision for the industry.
