Latest news with #VesonNautical
Time of India
6 hours ago
- Automotive
- Time of India
Where are Houthis? China's automakers taking shortcut to European markets
1 2 Chinese automakers are shipping cars to Europe through the Red Sea and Suez Canal, nearly two years after the Iran-backed Houthi militia in Yemen started attacking vessels in the critical Middle East transit route. Other automakers are still shipping cars from Asia by way of a much longer, and expensive, trip around Africa. Last month, at least 14 car-carrier ships travelled from Chinese ports to Europe through the Red Sea and Suez Canal, according to a new analysis by Lloyd's List Intelligence, a British maritime information service. About the same number made the voyage in June. The trips have continued even after the Houthis used drones, grenades and gunfire to sink two cargo ships last month. Most shipping analysts assume that the Chinese govt has reached an understanding with Iran or the Houthis not to harm car-carrier ships from China. It seems that "China has found a way to deal with the Iran-backed Houthi rebels, and they have been told that their ships will not be targeted," said Daniel Nash, associate director of valuation and analytics at Veson Nautical, a maritime data firm. Travelling through the Red Sea and Suez Canal saves 14 to 18 days on each round trip between Asia and Europe, compared with going around Africa. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo This reduces costs for fuel, crews and the ships themselves by a couple hundred dollars per car. Going around Africa "adds considerable costs to a shipowner's fuel bill, increases pollution from the vessel and ultimately adds costs for buyers of new cars," said Rob Willmington, a senior analyst at Lloyd's List who led the review of voyages by car-carrier ships. Shipowners in Europe and Asia mostly refuse to allow companies to charter their vessels for such trips. Commercial insurers in London have become wary of insuring such voyages, charging higher rates when they do. The state-owned SAIC Motor, previously known as the Shanghai Automotive Industry Corporation, and BYD did not respond to our requests for comment. In addition to Chinese-owned ships, several car-carrier ships owned by a South Korean company or by a joint venture of businesses in Abu Dhabi and Turkey also sailed through the Red Sea and Suez Canal after stopping at car-loading ports in China, Willmington said. In a written reply to questions, China's ministry of foreign affairs did not mention car-carrier ships but said that, "China has been playing an active role in easing tensions since the situation in the Red Sea escalated, and will continue to contribute to the early restoration of peace and tranquillity in the Red Sea."
Associated Press
29-05-2025
- Business
- Associated Press
Veson Nautical Expands IMOS Platform with AI-Powered Claims Management
BOSTON, May 29, 2025 (GLOBE NEWSWIRE) -- Veson Nautical (Veson), a global leader in maritime data and freight management solutions, today announced the launch of IMOS X Claims CoCaptain, an AI-powered extension of claims management capabilities within IMOS designed to streamline the demurrage claims process. For decades, Veson has partnered with clients worldwide to solve challenges and drive continuous innovation across the full freight management lifecycle through the IMOS Platform. One challenge that could not be ignored is claims management. Claims teams are often overwhelmed by manual processes and time-consuming document collection—spending the bulk of their time preparing to process claims rather than analyzing them. This burden only grows with large, complex cases, leaving even less time for strategic decision-making. Developed using the latest advancements in artificial intelligence, Claims CoCaptain marks a significant evolution in managing claims. The solution automates time-intensive tasks, speeds up decision-making, and empowers analysts to focus on outcomes that drive business value. As part of the IMOS Platform, changes in Claims CoCaptain automatically update P&Ls, financial reporting and integrated systems throughout the claim lifecycle–providing a single end-to-end platform. 'Claims CoCaptain reflects our deep commitment to solving maritime challenges with technology that is both innovative and grounded in real-world workflows,' said Eric Christofferson, Chief Product Officer at Veson Nautical. 'As the claims settlement process is a critical and costly part of the freight contract lifecycle, managing both from a single platform provides numerous efficiencies and reduces errors. The IMOS foundation and data will allow claims specialists and operators to more strategically manage the claims outcome.' Built on IMOS. Powered by AI. Claims CoCaptain is a module offered within the IMOS Platform, Veson's market-leading solution for commercial freight management and voyage execution, and is accessed through IMOS X, Veson's new, fast, and mobile-friendly user experience. It was developed with maritime claims teams in mind, drawing on twenty years of domain expertise and focused research and development. Analysts typically spend countless hours reviewing statements of facts (SOFs), gathering timestamps, and calculating laytime—often across fragmented sources. Claims CoCaptain automates much of this manual work by using AI to organize and extract key data from emails and voyage documents in a centralized workspace. This enables analysts to concentrate on strategic aspects of the claim, improving accuracy, responsiveness, and overall outcomes. Improving visibility and creating a decision advantage Claims teams have long operated with limited visibility into the size, scope, and urgency of active claims—making it difficult to prioritize workloads and respond quickly. Claims CoCaptain solves this by centralizing information in one place and intelligently categorizing claims based on complexity and time sensitivity. IMOS X Claims CoCaptain is now available to existing and new IMOS Platform clients. Learn more and request a demo at About Veson Nautical Veson Nautical empowers the global maritime industry to navigate compounding complexity on all sides of the trade. Multi-jurisdictional regulations, geopolitical disruptions, decarbonization, cybersecurity threats, and more are forcing industry participants to recalibrate their risk tolerance. By combining trusted maritime data with built-for-purpose workflows, Veson gives clients the decision-making confidence to manage risk and maximize profit. With a heritage of innovation and expertise across all maritime related contracts, Veson serves more than 38,000 users across 2,400 companies in more than 100 countries and is uniquely positioned to enable a decision advantage. Learn more at If you have any enquiries, please contact the press team: Kevin Baxter Senior PR & Communications Manager [email protected] +44 (0) 20233970102 Veson Nautical Press Team [email protected] Office +44 (0)20 3397 0102
Yahoo
29-05-2025
- Business
- Yahoo
Veson Nautical Expands IMOS Platform with AI-Powered Claims Management
IMOS X Claims CoCaptain leverages AI trained specifically to enable companies to tackle costly inefficiencies in demurrage management BOSTON, May 29, 2025 (GLOBE NEWSWIRE) -- Veson Nautical (Veson), a global leader in maritime data and freight management solutions, today announced the launch of IMOS X Claims CoCaptain, an AI-powered extension of claims management capabilities within IMOS designed to streamline the demurrage claims process. For decades, Veson has partnered with clients worldwide to solve challenges and drive continuous innovation across the full freight management lifecycle through the IMOS Platform. One challenge that could not be ignored is claims management. Claims teams are often overwhelmed by manual processes and time-consuming document collection—spending the bulk of their time preparing to process claims rather than analyzing them. This burden only grows with large, complex cases, leaving even less time for strategic decision-making. Developed using the latest advancements in artificial intelligence, Claims CoCaptain marks a significant evolution in managing claims. The solution automates time-intensive tasks, speeds up decision-making, and empowers analysts to focus on outcomes that drive business value. As part of the IMOS Platform, changes in Claims CoCaptain automatically update P&Ls, financial reporting and integrated systems throughout the claim lifecycle–providing a single end-to-end platform. 'Claims CoCaptain reflects our deep commitment to solving maritime challenges with technology that is both innovative and grounded in real-world workflows,' said Eric Christofferson, Chief Product Officer at Veson Nautical. 'As the claims settlement process is a critical and costly part of the freight contract lifecycle, managing both from a single platform provides numerous efficiencies and reduces errors. The IMOS foundation and data will allow claims specialists and operators to more strategically manage the claims outcome.'Built on IMOS. Powered by AI. Claims CoCaptain is a module offered within the IMOS Platform, Veson's market-leading solution for commercial freight management and voyage execution, and is accessed through IMOS X, Veson's new, fast, and mobile-friendly user experience. It was developed with maritime claims teams in mind, drawing on twenty years of domain expertise and focused research and development. Analysts typically spend countless hours reviewing statements of facts (SOFs), gathering timestamps, and calculating laytime—often across fragmented sources. Claims CoCaptain automates much of this manual work by using AI to organize and extract key data from emails and voyage documents in a centralized workspace. This enables analysts to concentrate on strategic aspects of the claim, improving accuracy, responsiveness, and overall outcomes. Improving visibility and creating a decision advantage Claims teams have long operated with limited visibility into the size, scope, and urgency of active claims—making it difficult to prioritize workloads and respond quickly. Claims CoCaptain solves this by centralizing information in one place and intelligently categorizing claims based on complexity and time sensitivity. IMOS X Claims CoCaptain is now available to existing and new IMOS Platform clients. Learn more and request a demo at About Veson Nautical Veson Nautical empowers the global maritime industry to navigate compounding complexity on all sides of the trade. Multi-jurisdictional regulations, geopolitical disruptions, decarbonization, cybersecurity threats, and more are forcing industry participants to recalibrate their risk tolerance. By combining trusted maritime data with built-for-purpose workflows, Veson gives clients the decision-making confidence to manage risk and maximize profit. With a heritage of innovation and expertise across all maritime related contracts, Veson serves more than 38,000 users across 2,400 companies in more than 100 countries and is uniquely positioned to enable a decision advantage. Learn more at If you have any enquiries, please contact the press team: Kevin BaxterSenior PR & Communications Managerkbaxter@ +44 (0) 20233970102 Veson Nautical Press Teampress@ Office +44 (0)20 3397
Yahoo
29-05-2025
- Business
- Yahoo
Veson Nautical Expands IMOS Platform with AI-Powered Claims Management
IMOS X Claims CoCaptain leverages AI trained specifically to enable companies to tackle costly inefficiencies in demurrage management BOSTON, May 29, 2025 (GLOBE NEWSWIRE) -- Veson Nautical (Veson), a global leader in maritime data and freight management solutions, today announced the launch of IMOS X Claims CoCaptain, an AI-powered extension of claims management capabilities within IMOS designed to streamline the demurrage claims process. For decades, Veson has partnered with clients worldwide to solve challenges and drive continuous innovation across the full freight management lifecycle through the IMOS Platform. One challenge that could not be ignored is claims management. Claims teams are often overwhelmed by manual processes and time-consuming document collection—spending the bulk of their time preparing to process claims rather than analyzing them. This burden only grows with large, complex cases, leaving even less time for strategic decision-making. Developed using the latest advancements in artificial intelligence, Claims CoCaptain marks a significant evolution in managing claims. The solution automates time-intensive tasks, speeds up decision-making, and empowers analysts to focus on outcomes that drive business value. As part of the IMOS Platform, changes in Claims CoCaptain automatically update P&Ls, financial reporting and integrated systems throughout the claim lifecycle–providing a single end-to-end platform. 'Claims CoCaptain reflects our deep commitment to solving maritime challenges with technology that is both innovative and grounded in real-world workflows,' said Eric Christofferson, Chief Product Officer at Veson Nautical. 'As the claims settlement process is a critical and costly part of the freight contract lifecycle, managing both from a single platform provides numerous efficiencies and reduces errors. The IMOS foundation and data will allow claims specialists and operators to more strategically manage the claims outcome.'Built on IMOS. Powered by AI. Claims CoCaptain is a module offered within the IMOS Platform, Veson's market-leading solution for commercial freight management and voyage execution, and is accessed through IMOS X, Veson's new, fast, and mobile-friendly user experience. It was developed with maritime claims teams in mind, drawing on twenty years of domain expertise and focused research and development. Analysts typically spend countless hours reviewing statements of facts (SOFs), gathering timestamps, and calculating laytime—often across fragmented sources. Claims CoCaptain automates much of this manual work by using AI to organize and extract key data from emails and voyage documents in a centralized workspace. This enables analysts to concentrate on strategic aspects of the claim, improving accuracy, responsiveness, and overall outcomes. Improving visibility and creating a decision advantage Claims teams have long operated with limited visibility into the size, scope, and urgency of active claims—making it difficult to prioritize workloads and respond quickly. Claims CoCaptain solves this by centralizing information in one place and intelligently categorizing claims based on complexity and time sensitivity. IMOS X Claims CoCaptain is now available to existing and new IMOS Platform clients. Learn more and request a demo at About Veson Nautical Veson Nautical empowers the global maritime industry to navigate compounding complexity on all sides of the trade. Multi-jurisdictional regulations, geopolitical disruptions, decarbonization, cybersecurity threats, and more are forcing industry participants to recalibrate their risk tolerance. By combining trusted maritime data with built-for-purpose workflows, Veson gives clients the decision-making confidence to manage risk and maximize profit. With a heritage of innovation and expertise across all maritime related contracts, Veson serves more than 38,000 users across 2,400 companies in more than 100 countries and is uniquely positioned to enable a decision advantage. Learn more at If you have any enquiries, please contact the press team: Kevin BaxterSenior PR & Communications Managerkbaxter@ +44 (0) 20233970102 Veson Nautical Press Teampress@ Office +44 (0)20 3397 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Euronews
18-04-2025
- Business
- Euronews
Trump administration announces fees on Chinese-built vessels at US ports
ADVERTISEMENT The Trump administration has announced the imposition of fees on Chinese-built and Chinese-owned vessels docking at US ports, marking a further escalation in the trade war between the world's two largest economies. The decision, revealed by the Office of the United States Trade Representative (USTR), follows a one-year investigation initially launched under the Biden administration. 'Ships and shipping are vital to American economic security and the free flow of commerce,' said Ambassador Greer. 'The Trump administration's actions will begin to reverse Chinese dominance, address threats to the US supply chain, and send a demand signal for US-built ships,' the USTR said in a statement. Under the new policy, Chinese-built and owned ships will face fees calculated based on net tonnage per voyage into the US. The first phase of the policy will take effect in 180 days. A second phase, targeting foreign-built liquefied natural gas (LNG) vessels, is scheduled to be implemented in three years. Background on China's shipbuilding practices In April 2024, the USTR launched an investigation into China's shipbuilding practices under Section 301 of the 1974 Trade Act. The probe proposed service fees of up to $1 million for each Chinese-built vessel and $1.5 million for foreign-owned ocean carriers with fleets that include Chinese-built ships. Amid China's rapidly expanding automotive and shipping sectors, the country has significantly increased its global maritime footprint. According to data from Veson Nautical, Chinese-built vessels accounted for 81% of the global shipbuilding market share in 2024. In the energy sector, China holds approximately 48% of the liquefied petroleum gas (LPG) vessel market and 38% of the LNG market. The USTR stated that five national labour unions had petitioned for an investigation on 12 March 2024, citi concerns over China's growing dominance in maritime logistics and shipbuilding. The USTR concluded that this dominance is 'unreasonable because it displaces foreign firms, deprives market-oriented businesses and their workers of commercial opportunities, and lessens competition. It creates dependencies on China, increasing risk and reducing supply chain resilience.' In response to the initial proposal last year, China's Ministry of Commerce called the US investigation 'a mistake on top of a mistake.' No further response has yet been issued following the USTR's latest announcement. Trump hints at no further tariff increases on China In a contradictory comment, Trump said that he does not want to raise tariffs further on Chinese goods, citing concerns that trade between the two countries could stall. 'At a certain point, I don't want them to go higher because at a certain point, you make it where people don't buy. So I may not want to go higher, or I may not want to even go up to that level,' he told reporters at the White House, 'I may want to go to less because, you know, you want people to buy.' The Trump administration has imposed 145% tariffs on all Chinese imports. In retaliation, China has implemented tariffs of 125% on US goods. China said last week that it would 'ignore' Trump's tariffs, calling it a 'meaningless numbers game.' Instead, China indicated it may shift retaliatory measures to the US services sector, such as legal consultancy, tourism, and education.
