HarborLab unveils AI tool to manage port expenses better

HarborLab has introduced a new AI-powered tool to enhance Disbursement Account analysis and port expense management for the maritime industry.

The Athens-based company aims to fully integrate artificial intelligence into its platform, offering shipowners and operators improved efficiency and cost-management capabilities. Known as HL AI, this tool is expected to transform how maritime companies handle port-related expenditures, which can be a significant financial burden. Annual port-related costs for ship owners can amount to USD $2 million per vessel per year, illustrating the importance of efficient expense management.

HarborLab, which secured over USD $16 million in Series A funding in 2024, continues to develop solutions that support the digitalisation of maritime operations. The integration of AI within HarborLab's platform is anticipated to afford ship operators greater control over their financial operations, providing real-time insights to support faster decision-making.

HL AI facilitates enhanced DA verification and approval processes by providing operators with detailed breakdowns of each port expense. This innovation is backed by HarborLab's algorithmic insights and up-to-date port tariff data. In addition, the feature simplifies the translation of tariff documents, removing language barriers by translating documents into English.

An integral part of the solution is its ability to automatically draft AI-powered email responses for expense discrepancies, streamlining negotiations with port authorities. This tool is designed to evolve alongside user interaction, refining its accuracy and creating a more effective system over time.

Antonis Malaxianakis, Chief Executive Officer and Founder of HarborLab, explained the significance of the HL AI launch: "More than $130 billion is spent globally across the industry every year on port expenses, yet many shipping companies still struggle with a traditionally opaque and time-consuming process of port cost management. With HL AI we are eliminating inefficiencies and tripling the DA review capacity of industry players, ultimately giving them greater control over their financial operations."

Malaxianakis further noted, "Crucially, HL AI is the latest step in our goal towards a fully autonomous DA management process by showcasing the power of AI in the world of commercial shipping. At present, a single HarborLab user can oversee more than 1,000 port calls per year so this latest move will enable our users to be much more efficient when it comes to DA verification and handling."

While the current focus is on port cost optimisation, HarborLab is progressively expanding into a full-service port call management platform. The company's offerings now encompass various features such as standardised event reporting, payments, claims handling, and cost validation processes, all designed to create a transparent and scalable solution for maritime operations.

HarborLab representatives will showcase HL AI at the upcoming Singapore Maritime event, highlighting its capabilities and additional software solutions for principals, vendors, and agents.