Voyage Accounting News

Many investors are asking questions about the dynamics of the tanker market and asked us to confirm their views on vessel utilisation across the tanker market. This answer is very much linked to how supply and demand balance one another in a bulk tramping market. Whilst there is no precise correlation between earnings and supply, it is critically important to understand that small changes can have major impact on the market as a whole. When the market is undersupplied with tankers, there is little or no resistance to pricing and when the market is oversupplied with just a few tankers, the market has no support and indeed owners have been known to even transport cargo at a negative gross cash flow! The speed of the vessel is one of those changes that can have an impact on the market.

Veson Nautical, a provider of maritime commercial management and trading software solutions, today announced that Dampskibsselskabet NORDEN A/S (NASDAQ OMX Copenhagen A/S: DNORD), one of the oldest and most respected listed shipping companies in the world, has purchased Veson Nautical’s Integrated Maritime Operations System (IMOS). Veson Nautical’s IMOS software will now manage chartering, operations, and voyage accounting related functions for NORDEN’s modern fleet of 210 dry cargo and product tanker vessels. “We selected Veson Nautical because IMOS met our expectations for a flexible shipping system that fits well into our business processes,” remarked Sture Freudenreich, Director / Head of IT at NORDEN.

BOSTON, MA and OSLO, Norway – March 30, 2011 –Veson Nautical, the premier provider of maritime commercial management and trading software solutions, today announced that Oslo-based Stenersen Chartering AS, the commercial arm of Rederiet Stenersen AS of Bergen, Norway has purchased Veson Nautical’s IMOS (Integrated Maritime Operations System). Veson Nautical’s IMOS6 software will now manage chartering, operations, and voyage accounting related functions for Stenersen Chartering’s fleet.

Chevron Corporation is one of the largest global energy companies with over 51.000 employees in over 180 countries. The company is involved in every aspect of the energy trade. Chevron Corporation entered into an agreement with ShipNet 23rd June 2004 to provide solutions to manage Chartering, Operations and Voyage Accounting world wide. November 1st Chevron Corp. successfully went live with ShipNet, after a significant project including more than 50 distinct modifications totaling more than 2500 man hours of software development. The software is in place, the staff has been thoroughly trained and the solution is running smoothly. Chevron Corp.