B&V's Vision for the Future of Demurrage
CEO Evangelos Efstathiou outlines Burmester & Vogel’s strategic direction for transforming the demurrage process through digital innovation.
The Scale of the Problem
Demurrage—a measure of inefficiency in cargo operations—represents a significant global cost affecting commodity prices worldwide. It is essentially a tariff that impacts GDPs globally, disproportionately affecting developing nations with limited infrastructure.
The Current State
The demurrage industry relies on outdated methods: a fragmented, entrenched process dependent on unstandardized physical documents, rudimentary spreadsheets, and email inboxes. This creates inefficiencies that ripple through the entire supply chain.
Our Approach
Rather than forcing industry behavior change, B&V proposes leveraging artificial intelligence and machine learning to streamline existing workflows. Our platform aims to:
- Automate demurrage workflows — Reducing manual processing time
- Digitize critical documents — Including Notices of Readiness and Statements of Facts
- Audit claims automatically — Enabling faster settlements and predictable costs
Our Foundation
We have accumulated four decades of maritime expertise serving over 1,000 clients across 100+ countries. This positions us uniquely to bridge industry practices with modern technology.
The future of demurrage is digital, and we’re building the platform to make it happen.
