Home World NORDEN streamlines charter party management by adopting Sea/contracts from Maritech

NORDEN streamlines charter party management by adopting Sea/contracts from Maritech

 

  • Sea/contracts delivers time efficiencies and improved governance for NORDEN
  • NORDEN embeds Sea/contracts across Panamax, Supramax and Handy size dry cargo operations

NORDEN, one of the world’s leading operators of dry cargo vessels, has implemented Sea/contracts, the cloud-based document creation and management module designed for the shipping industry. It has embedded the document management module across its Panamax, Supramax and Handysize dry cargo operations, covering 11 offices and a fleet of 275 vessels.

As one of the world’s largest operators globally of dry cargo vessels, NORDEN requires a significant number of charter parties – contracts between a charterer and a vessel owner– produced against its fixtures.

Sea/contracts, an agile document management tool for the production and management of recaps, charter parties and other shipping documents, is used by over 1,000 users across charterers, owners, and brokers. As well as meeting NORDEN’s specific requirements, the module provides a full audit trail of changes, stronger collaboration across key stakeholders and streamlined workflow with the use of electronic signatures.

Christian Vinther Christiansen (Head of Dry Operator), NORDEN, says: “With the volume of documentation that we produce, it was necessary to rethink our operations to ensure the systems and tools we have will support our overall Digital Strategy. We needed to ensure recaps and charter parties would be produced in a standardised and efficient way, with stronger controls around terms. With Sea/contracts in place, our business is heading towards improved efficiency, and the business has increased confidence around its governance of terms and minimisation of human error.

“Sea/contracts provides us with lots of data around our charter parties, which we otherwise wouldn’t have had. As we own the data, it can also be applied to our in-house advanced analytics helping us to achieve our business goals.”

Jeff Woyda, Chairman, Maritech said: “We are delighted that a company of NORDEN’s scale, has signed up to Sea/contracts. Not only does it demonstrate the industry’s demand for smarter charter party management, but it also highlights the increasing need for better compliance to mitigate risk.”

Sea/contracts is currently one of eight interoperable modules on the Sea/ platform that can be used either together or separately. The full Sea/ platform is designed to improve the day-to-day working of shipping professionals, byenabling better informed trading strategies, ensuring stronger collaboration between market participants and providing operational tools for success from within a single platform. Sea/is designed for shipping professionals by shipping professionals.