At Burmester & Vogel, we're always eager to demonstrate our innovative solutions on the global stage. Our recent participation in Posidonia 2024, one of the world's largest and most prestigious shipping exhibitions, provided an excellent opportunity to showcase our cutting-edge Demurrage AI Co-Pilot to industry leaders from around the world.

Posidonia 2024: A Global Maritime Gathering

Held from June 3-7, 2024, at the Athens Metropolitan Expo, Posidonia once again proved why it's considered the premier event on the maritime calendar. With over 2,000 exhibitors from 82 countries, the exhibition was a melting pot of ideas, innovations, and networking opportunities in the shipping industry. This was our second time as exhibitors in the United States Pavilion at the event, featuring our Head of Sales & Operations Eli Ginsberg, CEO Evangelos Efstathiou, and Global Accounts Manager Victor Reczkowski.

Burmester & Vogel Takes Center Stage in Maritime 'Shark Tank'

The highlight of our participation was undoubtedly the 'Shark Tank' event, put on by ShippingInsight, where our CEO, Evangelos Efstathiou, pitched Burmester & Vogel's groundbreaking Demurrage AI Co-Pilot to a panel of shipowners and industry leaders. This unique format allowed us to showcase how we're tackling one of the most pressing problems in the maritime industry: the inefficient, time-consuming demurrage calculation and settlement process.

Evangelos presented alongside other innovative U.S.-based tech companies, including:

• Sahil Andrews Chand, Founder & CEO of ShipSafe (Cyber Security)
• Dean Crassas, President of Port Medical Management's SeaCalm (Mariner welfare app)
• Samantha Weckesser, Founder and Chief Systems Designer of Homer LLC (Container Security)
• Pierre Forin, Co-Founder of Calcarea (Carbon Capture Technology)
• Katherine Mattikow, Founder and CEO of BulkLiquidAI (AI app for liquid cargo loading & discharge operations)

Demurrage AI Co-Pilot: Revolutionizing Maritime Operations

During his presentation, Evangelos highlighted how our Demurrage AI Co-Pilot is transforming the industry:

1. Addressing a $50 Billion+ Problem: We emphasized that over $50 billion is spent annually on demurrage, highlighting the scale of the issue we're tackling.
2. Streamlining Time-Consuming Processes: The average demurrage claim takes over 100 days to settle and more than an hour to prepare, review, and audit, so our AI solution offers significant time savings.
3. Leveraging Advanced AI/ML Models: We showcased how our models are built on a proven laytime calculation platform used for over 2 million voyages, ensuring reliability and accuracy.
4. Automating Demurrage Workflows: Our solution digitizes key documents such as voyage charter parties, Notices of Readiness, and Statements of Facts, streamlining the entire process.
5. Seamless Integration: We emphasized how our AI Co-Pilot streamlines, automates, and audits the demurrage process without disrupting existing workflows.

Looking Ahead: The Future of Maritime Technology

Our participation in the Posidonia 2024 'Shark Tank' event allowed us to showcase our innovative solution and engage with industry leaders and potential partners. The positive reception to our Demurrage AI Co-Pilot reinforces our belief that we're on the right track to revolutionizing demurrage management in the shipping industry.

As we continue to refine and expand our AI-driven solutions, including exploring satellite IoT for improved vessel tracking and arrival visibility, we remain committed to making global fleet operations more efficient and eliminating the demurrage "tax" from international trade.

Stay tuned for more updates on how Burmester & Vogel is shaping the future of maritime technology. Contact our team today for more information on how our Demurrage AI Co-Pilot can transform your shipping operations.