Burmester & Vogel Shines at Posidonia 2024: Showcasing Demurrage AI Co-Pilot in Maritime 'Shark Tank'
Burmester & Vogel participated in Posidonia 2024 (June 3-7, 2024, Athens), one of the world’s largest shipping exhibitions with over 2,000 exhibitors from 82 countries. The company showcased its Demurrage AI Co-Pilot during a ‘Shark Tank’ event organized by ShippingInsight.
The Presentation
CEO Evangelos Efstathiou presented alongside other U.S. tech innovators, highlighting how the solution addresses the maritime industry’s demurrage challenges.
Key Highlights
- Scale of Problem: Over $50 billion is spent annually on demurrage globally
- Time Savings: The average demurrage claim requires more than an hour to prepare, review, and audit
- Technology: Our AI platform builds on calculations from 2 million voyages
- Automation: The system digitizes key documents and streamlines workflows without disrupting existing processes
Looking Ahead
We emphasized future development in satellite IoT for enhanced vessel tracking. Our commitment remains focused on eliminating demurrage inefficiencies in international shipping operations.
The Posidonia Shark Tank provided an excellent platform to demonstrate how AI can transform traditional maritime processes while respecting the industry’s established practices.
