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Voyage Budget Planner

Do you want to be certain your voyages stay profitable in the long term?

Ensure your voyages stay profitable over time. Keep an accurate record of your expenses and profits and manage the financial performance of your vessels
Weather routing and voyage optimization for managing ETA
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Developing a financial plan for your voyage can be challenging, as there are a few difficulties you can come across:

● Uncertainty: fuel prices, port charges, and currency exchange rates can all be difficult to predict and can cause unexpected expenses

● Lack of information: gathering accurate information about the costs associated with a voyage can be difficult. For example, different ports may have different charges for services such as pilotage, tugboat assistance, and berthing fees. It can be challenging to obtain reliable information about these costs, especially for ports you don't visit often

● Complexity: factors such as the type of vessel, voyage distance, number of crew members and the amount of cargo can all affect the cost of the voyage. Determining the optimal route and timing of the voyage requires thorough planning and analysis

We are offering a tool designed to help ship operators in:

● Managing their finances effectively and efficiently

● Calculating the costs associated with a voyage

● Determining the most cost-effective route

● Managing the overall financial performance of a vessel

Below is the list of key features.

Voyage financial planner

Voyage cost calculation

 Vessel overview
One of the most common problems in voyage financial planning is underestimating expenses. That's why it's essential to include all potential expenses, including fuel costs, crew costs, provisions, port charges and other fees.

Calculate the costs associated with a voyage, including but not limited to:

● Fuel costs

● Port charges

● Canal dues

● Crew costs

Consider the vessel's route, speed, fuel consumption and port expenses to generate an accurate estimate of the total voyage cost.
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Profit and loss analysis

 Voyage profit and loss
Unexpected events such as weather conditions, unforeseen delays, or changes in market demand can all affect revenue and lead to financial losses.

Track the profitability of a voyage by monitoring the revenue generated by the vessel against the expenses incurred.

Compare estimated and actual data to make informed decisions about voyage planning and resource allocation.

Budget management

Keeping accurate records of expenses and revenue is essential for effective voyage financial planning. Poor record-keeping can lead to confusion and budgeting errors. It's essential to keep detailed records of all expenses and revenue, and to regularly review and adjust the financial plan as needed.

Ensure your expenses remain within the budget:

● Define revenue and expenses estimates to create a comprehensive budget for each planned voyage

● Keep historical data of previous voyages to plan more efficiently

● Review the budget as the voyage progresses and make adjustments if necessary

● Outline the extra expenses to make sure the funding is sufficient to cover the unforeseen costs

Performance vs Budget monitoring

 Vessel performance vs budget
Every ship operator has a number of performance metrics affecting the voyage's budget. Failure to acknowledge them can result in higher fuel consumption and increased expenses.

Import daily, weekly and monthly fuel consumption, speed, and other factors which affect your vessels' financial performance. Add your own budget-affecting performance metrics relevant to your fleet.
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Аdvantage of Marine Digital FOS:

Marine Digital FOS can be integrated with other system and third-party's solutions through the API. To implement vessel performance monitoring for any vessel, we are using mathematical algorithms, machine learning and the same equipment as in FOS. The more data we collect from vessels, the more precise reports and recommendations our system will perform according to your individual requirements in fleet management.

If you have any questions about the solutions and the Marine Digital platform, write to us, we will be happy to answer.
Increased business process speed
Increased business process speed
Reducing to zero the number of errors
Reducing to zero the number of errors
Best offer to the clients
Best offer to the clients
Reduction in operating expenses
Reduction in operating expenses
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