Sea bridges gap in digitising freight industry with acquisition of MarDocs

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Sea, the intelligent marketplace for fixing freight, has announced the agreed purchase of MarDocs – a recap and charterparty management platform – from Marcura, alongside a new strategic partnership between the two companies. This will further accelerate Sea’s progress in digitising and managing chartering workflows from pre-fixture negotiation to documentation.

Providing the preferred platform for recaps and charterparties across all market segments, reflected in an annualised volume of over 43,000 fixtures and in use by over 800 customers and 550 broking companies, Sea now bridges the documentation gap in the industry benefitting charterers, brokers, and owners.

Sea says the acquisition marks a new era, particularly in the wet markets where documentation management is an acute challenge with contracts dispersed across different platforms. Sea’s ecosystem enables management of the entire fixture process, providing simplicity, driving greater efficiencies, and streamlining processes.

Sea will be working closely with Marcura to ensure all MarDocs customers are transitioned to the Recap Manager platform. This will mean clients – including some of the largest oil companies in the world – now benefit from the enlarged offering.

Sea will also form a new strategic partnership with Marcura, a collaboration which will help in driving the industry towards greater digitisation in freight. This partnership will focus on bringing insights from Marcura’s analysis into the Sea platform and vice-versa, including in-depth analysis of vessel behaviours in port and the cost implications upon the multiple clauses governing port activity.

Peter Schrøder, CEO of Sea, said: “We are very pleased to announce the acquisition of MarDocs, which will move the industry forwards with its digitisation efforts. Together with our clients and partners, we are driving real change in the maritime industry, aiming for a complete ecosystem of workflow solutions that will bring simplicity and efficiency for all companies in this space and benefit the entire value chain.”

Jens Poulsen, Group CEO of Marcura, said: “At Marcura, digitalisation of the seaborne trade execution is a priority. Our aim is to enable a maritime data standard for seamless digitalisation of pre- and post- fixture processes. In selling MarDocs, we can focus on post-fixture solutions that will share data with the freight solutions of Sea.

“We know our customers want fewer and better platforms and more actionable data. We look forward to announcing the first data integrations of Marcura Maritime Master Data with Sea. With PortLog, shipping companies can measure and manage port-related risks and time, leading to better voyage profitability.”

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