Demurrage & detention have been around for centuries, it's always been seen as that horrible charge no one wants to have. We can see why shipping Lines and carriers have to charge it but it shouldn't be to the point of getting unexpected bills and costs. Most demurrage costs come from poor planning or unfortunate circumstances such as drivers not turning up to collect a shipment or there is a delay in getting the shipment through customs or another problem. Our demurrage & detention calculator is back by the UK Department of Transport via Freight Innovation Fund.
So with our vast knowledge of freight forwarding a tool to help anyone who is moving a container and wants to get to grips with the costs. Our cloud-based system CocoonDEM is quick to set up and extremely easy to manage.
Many freight forwarders and importers manage their containers on spreadsheets and often go off to the carrier's website to try and get the latest rates. Excel is ok if you manage a few shipments, but when you get busy or you forget when the free time is about to expire, Excel has no functionality to warn you. You also have to keep v-lookups and formulas up to date and if for some reason you make a change to a formula without knowing you can instantly cost your company money.
Our system stores your customer-specific and default rates, including free time, plus any other ancillary charges. CocoonDEM then cross-match these with your shipments and calculates the costs. What could take you hours to do is instant through our system.
Our system can integrate directly with your Transport Management System (TMS) such as CocoonOPS, Cargowise, Magaya, Azyra, Multifreight etc.. via EDI or API connection. We can then either pull in your Quay Rent charges and free time directly from the TMS or you can add them through an easy-to-use interface.
Once you set the rates in CocoonDEM, we import the shipments, and off you go. The system will check your TMS daily for any updates and pull in any changes to the shipment.
You then can either keep the system purely for internal management or you can give your clients access and share one version of the truth.
If you are an importer or exporter and want to make sure that you're managing your supply chain efficiently and more importantly being charged correctly for demurrage and detention, then CocoonDEM is the ideal tool for you.
It could be that you use multiple freight forwarders and it is difficult to keep track of where all your containers are, which ones are incurring demurrage, and which ones are using free time, our system allows you to manage this. You can also use the EDI integration where we can pull the information directly from the freight forwarder. If you're managing your container shipments via Excel, then no problem at all, we can provide you with a template to populate which can be imported directly into our system, quickly and easily. Then every time you have an update you simply upload the spreadsheet and the system will automatically update any existing containers or add new ones. CocoonDEM is so advanced we can also check the data quality and make sure containers aren't delivered before they are due to arrive or the delivery date and arrival date are the same.
CocoonDEM also has some built-in features to allow you to benchmark your freight forwarders' performance as well as set your own KPIs to make sure your supply chain is as efficient as possible.
The key benefits for you:
Some key features:
If you use the Excel upload method you can be up and running very quickly.
For more information on our Demurrage & Detention Calculator please do get in contact for a demo using the form below: