Aegean Axis_ Digital Transformation Strategy

Agenaxis is a global leader in the shipping industry, committed to sustainability and reducing their carbon footprint. They have an impressive fleet of 85 vessels that transport various types of cargo worldwide. The process begins with a detailed contract called a charter party, which outlines all the specifics of the cargo transportation. The lay can is a key element in the charter party, determining the vessel's arrival window and potential penalties for delays. Voyage planning involves optimizing the route and coordinating with port authorities. Paperwork, including cargo manifests and certificates, must be accurately completed to avoid delays and fines. Inspections are conducted on the vessel and cargo to ensure safety and compliance with regulations. Specialized stevedores load the cargo according to a detailed stowage plan, considering weight distribution and handling needs. Post-loading surveys and inspections are done to ensure cargo security and adherence to rules. Once everyt Welcome to the Deep Dive. Today we're going to be diving into the world of maritime shipping. Specifically, we're going to be looking at Agenaxis. Sounds good. Have you ever wondered how products get from across the world to your local store shelves? Yeah, I mean it always seems like magic to me. Well today we're going to be pulling back the curtain. Looking forward to it. Agenaxis is a global leader in the shipping industry. They are. They're one of the top 100 shipping and logistics companies in the entire world. Wow. Headquartered in Piraeus, Greece. Okay. But they have offices all over the place. Oh, I bet. Singapore. Dubai. I was going to say probably Dubai. You got it. Rotterdam, Houston. Makes sense. Tokyo, Santos. They're everywhere, huh? They really are global. Yeah. And one of the things that's interesting about Agenaxis is they're really committed to sustainability. Oh, that's great. So they've been investing in fuel-efficient vessels. Oh. And they're exploring alternative fuels. Oh, wow. So they're really trying to reduce their carbon footprint. Yeah. That's awesome. And they have an impressive fleet. Oh, yeah. What do they got? 85 vessels. 85, wow. Ranging in size from HandyMax to Panamax. Okay. And they transport all kinds of dry, bulk cargo. Like what? Everything. I mean, think grain. Grains. Minerals, energy products, construction materials, industrial raw materials. So basically, all the stuff that makes the world go round. You got it. Wow. All the building blocks of our modern world. It's amazing how we don't really think about how that stuff gets to us. I know, right? Until it's not there. Exactly. Yeah. And this diversity allows them to be super adaptable. Oh, sure. To whatever the market demands. That makes sense. But to really understand how this all works. Yeah. We need to get into the details. Okay, let's do it. Of their business processes. Right. So where does it all begin? Well, it all starts with a contract. Okay. Called a charter party. Charter party. Yeah. What is that? It's basically a legally binding agreement. Okay. Between Agent Access and their clients. And it outlines every little detail about the cargo transportation. So it's like a super detailed itinerary for the voyage. Exactly. Okay, so what kind of information is included in this charter party? Everything. Everything. Yeah, and we're talking type of cargo. Okay. The quantity, the ports where it's being loaded and unloaded. Okay. The deadlines for each stage of the journey. Gotcha. Even potential penalties if there are delays. Penalties? Yeah. For delays. That sounds serious. Well, time is money in the maritime world. Yeah, I can imagine. Delays can cause a domino effect. Oh, I bet. Yeah, disruptions and big costs for everyone. Makes sense. So the charter party, it has these specific clauses in it to deal with any potential delays. So it's all about making sure things move smoothly and efficiently. Yep. So one of the key things in the charter party is the lay can. The lay can? Yeah. Lay can, okay. You ever heard of that? Not really. I think that's one of those industry jargon terms. Yeah, it stands for lay days canceling. Okay, and in plain English, what does that mean? Basically, it's like a window of time that's agreed upon in the charter party. And the vessel has to arrive at the loading port within that window. Okay. If it arrives before the lay can starts, they have to wait. Okay. And if they arrive after the lay can ends, they might have to pay penalties. So they gotta hit that sweet spot. They do. Arrive right on time. Yep, that's the name of the game. What are these penalties called? They're called demurrage charges. Demurrage, okay. Yeah. How much are we talking here? It's calculated daily. Okay. It can be tens of thousands of dollars per day. Wow. Depends on the size of the vessel and the terms of the contract. Yeah. That's a big financial risk that Agent Access has to manage carefully. So the stakes are high? Yeah, they are. All right, so the vessel arrives within that lay can window. Right. Then what? Then comes voyage planning. Okay. Which is like a giant puzzle. What are some of the pieces they have to fit together? Well, first they gotta figure out the most efficient route. Okay. And that involves looking at weather patterns. Sure. Ocean currents. Fuel efficiency. Of course. Then they gotta plan for bunkering. Bunkering? Yeah, refueling at different spots along the route. Gotcha. And then of course they have to coordinate with the port authorities. At both ends? Yeah, on both ends. To make sure? To make sure everything goes smoothly. The vessel has a spot reserved. Exactly. And that it can get in and out of the port safely. Yeah, that's important. So who's responsible for all of this? Agent Access has a whole team. Oh, wow. Of voyage planning experts. Dedicated to this. And they use all kinds of fancy software. Oh yeah, they have really sophisticated software. To zap all this out. To optimize the route. Make sure the vessel gets there safe and sound. And on time. Yeah, on time too. So it's a mix of high tech. It is. And good old-fashioned maritime know-how. You got it. Okay, so now we've got the contract signed. Right. The voyage is planned out. What's next? Now we gotta tackle the paperwork. Paperwork, uh-oh. Yeah, and I'm not talking about a few forms here. We're talking about a mountain of paperwork. What kind of documents are we talking about? Well, we've got the cargo manifest. Okay. Which lists every single item. Every single item. Everything. Wow. The weight, the dimensions, where it's going. Then there's the bill of lading, or BL. Bill of lading, okay. That's basically a receipt. Okay. For the cargo. And it shows who owns it. Gotcha. Then you've got the certificate of origin. Okay. Which proves where the goods came from. Then there's the commercial invoice. Okay. That shows the value of the goods. For customs. Right, for customs. Okay. Oh, and then there's the packing list. Packing list? Yeah, how the cargo's packed. And then, depending on what's being shipped, there's a bunch of cargo-specific certificates. Like what? Like phytosanitary certificates for agricultural products, or fumigation certificates for some other types of cargo. So a lot of paperwork. Yeah, it's a lot. What happens if some of this stuff is missing or wrong? Even a little mistake. Yeah. It can cause huge delays. Oh. Fines. Okay. Legal problems. You name it. And that could trigger those LACAN deadlines and demurrage charges we talked about. Absolutely. Wow, so accuracy is key. Absolutely, every detail matters. Okay, so once the paperwork is all in order. Right. Then what? Now the vessel and the cargo have to be inspected. Okay. To make sure everything's up to snuff. In terms of? Safety, environmental regulations. Okay. Security. Gotcha, so what kind of inspections are we talking about? Well, on the vessel side. Yeah. They check the ship's structure. Okay. Make sure the safety equipment is working. Make sure the crew certifications are all up to date. Gotcha. And that they're following international maritime rules. So basically a thorough checkup. It is. For the ship and crew. Exactly. To make sure everything is good to go. Yep. And on the cargo side? Well, they check the quality of the goods. Okay. Make sure they meet the specs. Yeah. Outlined in the charter party. Yeah. And that they comply with all the import, export regulations. So they double check that the cargo is what it's supposed to be. Yeah. And that it's safe to transport. Right. And who does all this inspecting? Independent surveyors. Okay. They're really important in the whole process. Because they? They make sure everything's safe. Yeah. And that the shipping process is legit. So it's really a carefully orchestrated process. It is, like a ballet. With every step planned out. Exactly. Okay, so the contracts are signed. Right. The voyage is planned. The ship work is all checked. Yep. Inspections are done. Right. Now we're ready to load the cargo. Oh yeah. So how do they actually load all that stuff onto those massive ships? Agent Access's crew works with specialized stevedores. Stevedores? Yeah, they're experts in loading cargo. Okay. And they follow a super detailed stowage plan. A stowage plan, what's that? It's like a giant 3D Tetris game. Okay. They map out exactly where each piece of cargo goes. Wow, I bet that's a logistical nightmare. It can be, there's a lot to consider. Like what? Well, they have to think about the weight distribution. Keep the ship stable. Exactly, that's really important. Yeah. And they gotta think about the order in which they need to unload stuff. At different ports. Yeah, because the ship might be going to multiple ports. Right. And they have to think about any special handling needs. For certain types of cargo. Right, some cargo needs to be refrigerated. Sure. Or handled with extra care. So it's a lot more complicated than just throwing stuff on the ship. Oh yeah, way more complicated. Okay, so they've loaded the cargo according to the plan. Right. Are we ready to set sail? Almost. Almost, what else? There are post-loading surveys and inspections. Right, sure. To make sure the cargo has been loaded right, that it's secure. And that they haven't broken any safety or environmental rules. So like a final quality control check. Exactly. Okay, so once that's done. Yeah. Then we're good to go. We are. The ship can set sail. It can. And start its journey. To deliver all those goods? It's amazing how much goes into loading cargo onto a ship. It is. But what happens when it gets to the other side? Yeah, well that's a whole other story. We're gonna find out. After the break. Sounds good. So the ship's made it across the ocean. Carrying all that cargo. Right. What happens when it gets to the unloading port? Well, first things first. Okay. They gotta go through port state control inspections. What's that? It's basically where the local authorities. Inspect the vessel. To make sure. To make sure it meets all their standards. Yeah, yeah. Safety, environmental stuff. Security, all that. So it's like another layer of checks to make sure everything's in order. Exactly. Before they can even enter the port. Yep, like passport control for the ship. Makes sense. So once the vessel passes inspection. Yeah. Then they gotta find a place to park. Park a ship. Yeah, it's called securing a berthing slot. Basically like finding a parking spot for this giant ship. I can imagine that's not easy. It can be tricky. Depends on the port. Yeah. How busy it is, all of that. So while the ship's getting settled. Right. What's happening with the cargo? Well, this is where the consignee comes in. The consignee. Yeah, the one who's receiving the cargo. Okay, so like the customer on the other end. Exactly. They're responsible for all the import documentation. Okay. Customs, clearance, and paying any taxes or duties. So more paperwork. Oh yeah, always more paperwork. What kind of documents are we talking about here? Well, there's import permits. Sorry. Customs declarations, certificates of inspection, all sorts of stuff. And any mistakes here could cause delays. Oh yeah, and fines too. So they gotta be really careful. They do. Okay, so the ship's parked. Right. The paperwork's in order. What happens next? Now we can finally unload the cargo. Okay, how does that work? It's kind of like loading in reverse. Okay. But there are some differences. Like what? Well, once the vessel's secure at the berth, and all the paperwork's good to go, the unloading can begin. Okay. And again, they use stevedores for this. Those cargo loading experts? Yep, the same ones. Okay. And they follow a plan, just like with loading. So there's an unloading plan too. Absolutely. What kind of stuff is in the unloading plan? Well, it outlines the order they need to unload stuff, any special handling instructions, and where each item needs to go. So it's all carefully coordinated. It is, like a well-choreographed dance. But what if something goes wrong? Like what? Like what if the cargo's damaged? Well, they actually do cargo surveys during unloading. To check for damage. Exactly. So it's like an inspection. It is. To make sure everything arrives in good condition. Yeah. And who does these inspections? Independent inspectors. They come in and check everything out. And what if they find damage? Then things can get a little complicated. Oh, so. Well, they gotta figure out who's responsible. Okay. Was it loaded improperly? Right. Was it damaged during unloading? Did something happen during the voyage? Right, like bad weather? Exactly. So it could lead to. Disputes, insurance claims. Okay. It can get messy. So there's a lot at stake. Yeah. Both financially. Right. And for their reputation. Absolutely. So Agent Access has to be really careful. Oh yeah, every step of the way. To minimize that risk. Yep. All right, so the cargo's unloaded. Right. They've checked for damage. Hopefully everything's good. What happens next? Well, then there's a post-discharge survey. Another survey? Yeah, this one's to make sure all the cargo's off the ship. Yeah. And that the holds are empty and clean. So it's like a final walkthrough. It is. Before the ship leaves. Yes, exactly. Okay, so once that's done. Then the vessel's free to go. To its next destination. Right, to start the whole cycle over again. But the story doesn't end there. It doesn't. We still gotta talk about the financial side of things. We do. How do they keep track of all the money? Well, financial reporting for a company like Agent Access. Yeah. It's a complex process. Why? They gotta track a ton of stuff. Like what? Well, there's voyage data. Okay. Things like freight rates. Okay, how much they're charging for the cargo? Right. Okay. Fuel consumption, port charges, canal fees, all that. So every dollar in and out? Pretty much. Wow. Then there's cargo handling costs. Okay. Like stevedoring fees, storage fees if they need to store the cargo. Right. And then there's crew costs. Salaries and stuff like that. Yep, salaries, benefits, travel expenses. And I'm guessing maintenance costs for the ships? Oh yeah, those can be huge. So they really are tracking everything? They are. And where does all this data go? It all goes into their accounting system. Okay. And they use that to generate financial statements. Like what kind of financial statements? Well, there's the income statement that shows their revenues and expenses. Over a certain period of time. Right. Then there's the balance sheet that gives a snapshot of their assets, liabilities, and equity. At a specific point in time? Exactly. And then there's the cash flow statement that tracks the money coming in and going out. So it's not just about knowing how much money they made? No. It's about understanding where the money came from and went? Exactly. And how well they're managing it? Yep. And who sees these financial statements? Well, they use them internally. Okay. But they also share them with investors, creditors, regulatory bodies. So there's a lot of transparency. There is, it's important. And I'm guessing there's a lot of pressure to get this right. Oh yeah. Any areas where things can go wrong. Oh sure, even a small mistake. Like misallocating an expense can mess everything up. Wow. And then there's all those accounting standards. We talked about those. If they don't follow those, they can get in big trouble. So accuracy is key here too. It is, just like with everything else. But it sounds super complicated. It is. With all the global trade. Mm-hmm, and all the regulations. Yeah. It's a lot to keep up with. So how do they manage it all? Well, that brings us to AI. AI. Artificial intelligence. And then shipping. Yeah, it's changing everything. Really? Really. How so? Well, there's a whole other conversation. Okay, so we're gonna talk about AI and shipping in the next part. Welcome back to the Deep Dive. In the first two parts, we looked at how Agent Access gets those contracts, plans those voyages, deals with all that paperwork, and loads up all that cargo. Right, and then how they handle things on the other end. Yep, all those inspections and the unloading process. And we even talked about the financial side of things. All those reports and stuff. Yeah, it's a lot to keep track of. It is. But now we're gonna talk about AI. Yeah, AI. Artificial intelligence. It's changing the game. And shipping. Yeah, and shipping. I'm not sure I see the connection. Well, think about all those potential problems we talked about. Okay. Missed deadlines, damaged cargo. Yeah. Financial errors. AI can help with all of that. Really? Really. Yeah, so where do we start? Let's start with the paperwork. Okay, that mountain of paperwork. Yep, all those documents. Well, imagine you have this AI assistant that can automatically check all those documents, make sure they're accurate, and that they comply with all the regulations, but wow. And it can even generate some of those documents from scratch. So they don't have to do it manually. Exactly. That would save a ton of time. And reduce errors. Yeah. And there's no need to delays and fines. Right, right. So what about stowage? Ah, stowage. We talked about how important that is. True story. For the ship's stability. Right. Can AI help with that? Absolutely. How so? Imagine an AI system. Okay. That can create those stowage plans. Okay. But not just static plans. What do you mean? Plans that can adapt in real time. Like if the weather changes. Exactly. Or they need to add more cargo. Yep. Having a digital expert on board. That's a good way to put it. Constantly monitoring and adjusting. Keeping the ship balanced. And the cargo safe. Precisely. This is amazing. It is. Okay, what about communication? Communication is key. Yeah, we talked about how breakdowns in communication can cause delays. Huge delays. So how can AI help with that? Well, imagine an AI system. That can translate languages. Okay. And understand all the different port regulations. Wow. And communicate with everyone involved. So no more miscommunication. Or language barriers. That would make things so much smoother. It would. Okay, what about unloading? Unloading. We talked about those potential delays with documentation and damage. Right, right. So can AI help with that too? Absolutely. How so? Well, imagine an AI system. Okay. That can prepare all the unloading documents. Before the ship even arrives. Exactly. So no more last minute scrambling. And no more delays. Wow. And it can also help assess any damage. Figure out what happened and who's responsible. So it's like having a digital detective. That's a good way to put it. Gathering evidence. Exactly. Okay, so what about the financial side? Financial reporting? Yeah, all those numbers. All those numbers. Can AI help with that too? Definitely. How so? Well, imagine an AI system. Right. That can track all the expenses. Allocate them to the right voyages. And make sure everything's accurate. So no more errors. Or missed payments. Wow. And it can even help with compliance reporting. So they don't run into any trouble with the authorities. Exactly. So it seems like AI can really transform the shipping industry. It already is. Making everything more efficient. And safer. And less risky. Absolutely. It's incredible. It is an exciting time. Well, thanks for taking us on this deep dive. It's been my pleasure. I've learned so much. Me too. And I'm sure our listeners have too. I hope so. So thanks for joining us. Yeah, thanks for having me. And we'll see you next time on The Deep Dive.