Port logs or statement of facts (SOF) are currently produced by multiple parties in a variety of formats , including PDF’s, and even hand written documents. Timed and effort are required to collate and reconcile these statement s before they can be applied to calculations. They are rarely in corporated easily into the company’s Laytime Calculations.

Often the document must be manually reformatted, the data extracted, or details from the SOF manually retyped. This takes time to do, uses valuable manpower doing little more than copy typing, and often introduces errors into the calculation. In a simple trade you can see that the SOF is retyped four times (orange boxes).
With SOFeXchange the final statement is available as soon as the port call is completed. This means a substantial reduction in the time it takes to start a laytime calculation. There is the added benefit that SOFeXchange will deliver the SOF as soon as the Master completes it, rather than having to wait for it to be sent via an Agency.
This means that companies issuing demurrage claims can do so far more quickly. For trading companies, it means that there is no longer a need to put an estimate of the demurrage into the trading accounts. Now they can do the complete demurrage calculation immediately and these trading accounts are accurate and have real numbers in them. There is no need to type or transcribe any Statement of Facts when SOFeXchange is used.