Shipdesk News

Shipping finance specialist Tufton Oceanic is reportedly launching an independent web-based shipping chartering exchange with a group of e-commerce and investment companies. The exchange, to be called ShipDesk, aims to become the definitive independent chartering exchange, benefiting all market participants, a spokesperson said. ShipDesk, which will go live later this year, has been developed in conjunction with U.S.-based electronic market developer OptiMark Technologies, European e-business investment firm antfactory, and private equity group Whitney & Co. The site will provide a confidential exchange for wet and dry bulk commodity trade from shipment to voyage completion.

Much as has transpired in mainstream consumer markets, the dot com craze has recently enveloped the maritime world with promises of cost savings and operational efficiencies. While an attrition and natural process of consolidation can eventually be expected, the world of e-commerce solutions for the maritime market is definitely in its infancy. While it is impossible to judge the full working models in this report, the following text contains synopsis reports on some of the more noteworthy market entrants. Recently launched by Boston-based WebPark Corp., Boat-Park.com is an on-line virtual trade show, which seeks to bring together worldwide participants into its virtual trade show, which is open 24/7.

Phenomenal is perhaps the only word adequately to describe the rampage of new, integrated e-commerce solutions that have recently swamped the maritime industry. The marine market, which has a solid reputation of following rather than leading technological surges, has gone from "zero to sixty" in record time on the e-commerce front. But while the industry today has a bevy of selections from which to choose — including portals for conducting every transaction conceivable, from fixing cargos to buying bunker fuel, spare parts or a ship's stores — the critical question revolves around not which choices are available today, rather which choices will be available one year from today.

London-based e-shipbroker LevelSeas has acquired main competitor Houston-based SeaLogistics during a week that has seen swift consolidation in the shipping e-commerce sector. LevelSeas was founded by Shell, Cargill, and London shipbroker Clarksons in April 2000, to broker ships for cargoes over the Internet. It has always been seen by the shipping industry as the lead contender, closely followed by SeaLogistics. "LevelSeas will exchange equity for the primary assets of SeaLogistics," it said a statement. The deal with SeaLogistics will strengthen LevelSeas' position in the tanker markets especially, it said. LevelSeas' core business is e-broking, but the platform also offers voyage-management and risk management tools. Freight futures trading will also be offered.

Internet shipbrokerage Levelseas is seeking to recoup payments from a sacked software developer, a move that illustrates the frustration many Internet start-ups have suffered in targeting the complex shipping industry. "The key to the issue is that they say the product works and we say it doesn't," Levelseas COO Kevin O'Connor said. "At the end of February we realized that CSC was unusable and we haven't used a single line of specification... or a single code," he added. CSC was unavailable to comment on Tuesday. Levelseas took the development of the world's first Internet ship-brokerage in-house in February and launched the finished product at the start of last month.