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Wednesday, October 17, 2018

New database established for Freight and Demurrage claims

INTERTANKO has set up a new database on its website for members. Members are encouraged to enter details of all demurrage and freight claims which have been paid. This will enable us to build up a database of the average length of time it takes particular charterers to pay claims and to formulate a league table of charterers showing those that have the quickest payment times compared to those which have the slowest.

We would like to encourage all our members to enter details of their paid freight and demurrage claims on the database. There are separate report forms for entering details of demurrage and freight claims. Once sufficient data has been entered onto the database members will be able to conduct a search to find out, say, the average time it takes a particular charterer to pay demurrage claims. Also, it will be possible to obtain a league table of charterers commencing with those that pay the quickest. It is hoped that by publishing such league tables charterers will be encouraged to improve the time in which it takes them to pay claims. We hope that all our members will enter details of their claims on this new database so that a substantial amount of data will be available on which to calculate the average payment times and so ensure that the figures are as representative as possible. Once we have sufficient information on the database we will advise our members that they can now access information on charterers payment records.

We would like to stress the importance we attach to the confidentiality of the data entered by our members. Once the data have been entered it will not be possible for any member to identify the names of any vessels chartered or which owners have fixed to which charterers.

Members are invited to report their paid claims on our database. To access the database, please click here

Members may contact should they wish to discuss further any aspect of the Freight and Demurrage Database.