Release Notes 2022
Several new features and enhancements are available in IMOS. For more information, see the 2022 Changelog.
December 2022
Send intercompany payments and receipts to a specific IC account by default
Requires configuration flag CFGUseSpecificICAccountOnPaymentsAndReceipts
Intercompany payments and receipts are sent to the company account listed in the Intercompany Info section of the payment/receipt by default when the configuration flag CFGUseSpecificICAccountOnPaymentsAndReceipts is enabled. The IC account is based on the company's W address book record. If no IC Account is defined, the system will use the IC Account from Account Periods. This enhancement will minimize IC account assignment errors when working with many internal companies.
This is an additional solution and requires a separate license. You must have the General Trading Module Right selected. Access to other forms and actions also requires specific Module Rights. Your configuration might differ from the information shown.
The logic for the Trading Profile flag "Keep TCTO In Exposure When One Contract is Index-Linked“ has been updated to handle Time Charter exposure on TCTO voyages. When the flag is selected, and there is a commenced TCTO voyage, then Exposure Days and Exposure Tons will reflect the remaining days in the voyage.
Pre-populate Upcoming Ports in the Onboard workspace
Upcoming Port information will now be pre-populated in Onboard forms based on the voyage itinerary. Veslink Forms containing the Upcoming Ports field, such as the standard At Sea noon report, will automatically carry over Upcoming Ports entries when submitted through the Onboard workspace. If the form group setting Enter Multiple Upcoming Ports is enabled, all upcoming ports in the itinerary will be pre-populated; otherwise, only the next port will pre-populate.
New in Sustainability: CII data and scores included in the Carbon View on the Estimator
Requires database schema version of 391 or greater. Requires configuration flags CFGEnableCarbonView and CFGEnableCiiCalc.
It is now possible to analyze your vessel's emissions performance as guided by the IMO CII ratings and assess emissions impacts while creating voyage estimates. Enable the new configuration flag CFGEnableCiiCalc to display the Carbon View on the Estimator, where you can find estimated CII grades for the voyage.
Automatically switch between demurrage and despatch rates when applicable
The Auto-update from itinerary checkbox will now synchronize the demurrage and despatch rates from the Cargo contract with the estimated demurrage rate.
November 2022
New in Vessel Vetting: Final score column added to the Evaluations grid
Requires configuration flag CFGEnableVettingWorkflow and the Edit Vessel Vetting Module Right to be selected under Actions in the Data Center.
The Vessel Vetting tab now includes a Final Score column that calculates a percentage score by dividing the number of positively answered questions by the total number of questions. This feature will allow you to compare a vessel’s score against the constituent scoring data.
Automatically update the Estimated Demurrage form with linked itinerary data
Requires configuration flag CFGEnableMultiEstDem
The Auto-update from itinerary checkbox is now included on the Estimated Demurrage form when the configuration flag CFGEnableMultiEstDem is enabled. When checked, the Days Used field automatically calculates from the corresponding itinerary line and will also reflect in the P&L.
New to index-linked TC contracts: correlation values built into the pricing structure now adjust exposure days
Index-linked Time Charter contracts can now account for correlation values built into their pricing structure, improving your ability to assess market risk. The new checkbox “Apply Corr. to Days” is now in the Unpriced Components form on TC contracts when the "Structure" checkbox is selected. When enabled, VIP adjusts the calculated Exposure Days with a formula that subtracts the correlation value in the structure to better reflect the number of days in the period exposed to the market.
Associate an FFA/Paper Trade contract with a specific vessel
Requires configuration flag CFGAddVesselNameToPaperTrade
A Vessel Name field will be added to the Paper Trade form when you enable the configuration flag CFGAddVesselNameToPaperTrade. The field is for information only and will not impact the linked-trades functionality. When a Paper Trade has this field populated, the specific vessel name will show up under that vessel in the Trading P&L Summary and Details Lists. This enhancement will improve reporting on trades at the vessel level and help you capture the necessary trade contract information.
New in the Messaging Service: Updates to interservice cargoes are now supported
Enhancements to the cargo import interface now allow you to update interservice cargoes in the Messaging Service.
October 2022
LNG MMBTU Pricing included in Time Charter Bunkers
Requires database schema version 381.
Time Charter Bunkers now contains columns to enter LNG MMBTU and calorific value information for LNG carrier ships. Time charter payments and the hire statement will display LNG bunker units in MMBTU. These enhancements will help track the commercial management of 'heel' amounts in MMBTU and facilitate the invoicing workflows and hire statement reporting. To view the new columns, enable the configuration flag CFGEnableTimeCharterLNGPricingInMMBTU.
New fields in Estimated Demurrage: Deductions from Days Used and Remarks
Requires database schema version 385.
In the Estimated Demurrage form, you can now enter deductions in the Deduction From Days Used field to impact the calculation of estimated demurrage or record notes in the Remarks field.
Create journal notifications for Monthly Accruals for reporting without impacting the general ledger
Requires notificationsIncludeList configuration flag to have ‘invoice’ included.
You can now generate journal notification messages without posting them to the general ledger by enabling the configuration flag CFGCreateSimulatedAccrualNotifications. When enabled, a Create Simulated Notifications button will appear on the Accruals form. This allows you to extract data for different Accrual configurations for reporting purposes without creating a journal in VIP.
New in Tasks and Alerts: Expose the Bunker Planning table of a Voyage Estimate
Fields in the Voyage Estimate Bunker Planning table are now available in a Task & Alert Rule set.
September 2022
Post an invoice to the next open accounting date if the original posting period is closed
You can now use the next open accounting date if the original posting period is closed when the configuration flag CFGAutoinvUseNextOpenPeriod is enabled.
Use the actual/projected delivery date as the start date of TC exposure
This is an additional solution and requires a separate license. You must have the General Trading Module Right selected. Access to other forms and actions also requires specific Module Rights. Your configuration might differ from the information shown.
You can use the actual/projected delivery date as the start of exposure for TC contracts by applying the "Use Proj/Act Delivery Date for TC Exposure“ profile flag in the Trading Profile. The actual/projected delivery date will populate on the contract instead of the estimated delivery date.
Set a threshold for line item amounts in monthly accruals
You can now set a threshold for monthly accrual line item amounts by enabling the configuration flag CFGAccrualThreshold. When you set the value to a number greater than 0, line items that have an accrual amount with an absolute value below the threshold will not be selected in the accrual program by default.
Reverse an invoice with the Messaging Service interface
You can now reverse an invoice through the interface by using the message type <invoiceReverse> and specifying the VIP transaction number to reverse with <transNo>. You can optionally set the parameter <deleteBill> to True to delete the operations invoice when you reverse the financials invoice. You have the option to include the <reversalReason> parameter as well.
Warning when a Veslink Form is overwriting another
The system will now display a warning if one form is overwriting another with the same form type and date.
August 2022
Create Ad Hoc Voyage Journals that reflect in Voyage P&L
You can now create ad hoc voyage journals accounted for in the P&L Actual and Posted columns by enabling the new configuration flag CFGEnableAdhocVoyageJournals. These new journals will have a description of Ad Hoc Journal and replace the Non-Voyage Journal description used when the configuration flag is disabled.
Scale tables freight pricing now supports commingled groups
You can now price VC In contracts via scale tables using a commingled quantity as an input to get a more accurate capture of your freight contracts in VIP.
Apply Index-Linked Hire Rate to Trading P&L
This is an additional solution and requires a separate license. You must have the General Trading Module Right selected. Access to other forms and actions also requires specific Module Rights. Your configuration might differ from the information shown.
Index-Linked Time Charter contracts that use Unpriced Components for pricing are now properly calculated in the Trading P&L Summary and Details lists. The unpriced component pricing structure determines the forward rate for the contract and becomes the base (contract) rate in the exposure calculations. This change allows for better tracking of unrealized P&L and insights into your risk and position in the market. You can use Unpriced Components when you enable the configuration flag CFGEnableGeneralUnpricedComponent.
Onboard forms window enlarged
The viewing window for forms in Onboard and the Agent Portal is now wider so you can view more form details without scrolling. You can resize the window if you prefer a smaller or larger screen.
New Cargo reporting enhancements were made to various lists and the report designer.
The fields First Load Cargo Handling Seq No. and Last Disch Cargo Handling Seq No. are now available in the Cargo table in Report Designer. These fields also provide one-to-one links to their corresponding voyage cargo handling records.
The TC Brokers (All) column is now available in the Transaction Summary, Payables, and Receivables lists.
If you bulk-post an invoice with a specific accounts-related warning, an error message will appear and you will be able to review and repost manually.
You can now open related payments/journals on the Cashflow report via hyperlink.
July 2022
Improved TC bunker exposure calculation for TCTO voyages with reposition leg
This is an additional solution and requires a separate license. You must have the General Trading Module Right selected. Access to other forms and actions also requires specific Module Rights.
The TC bunker exposure calculation can now handle TCTO voyages with reposition legs following redelivery when you apply the profile flag “Include TC Bunker ROB Exposure” in the Trading Profile. When the flag is enabled, bunkers ROB after the vessel has been redelivered and prior to voyage completion will now be included in the Trading P&L.
Multiple demurrage and despatch rates now supported for FOB cargoes
Requires configuration flag CFGMultiDemRate
You can now set multiple demurrage and despatch rates in laytime calculations for FOB cargoes when the configuration flag CFGMultiDemRate is enabled. Previously, the laytime calculator did not support multiple rates for FOB cargoes.
New in Financial Control: Define specific groups for each invoice approval level
Requires configuration flag CFGEnableFinancialControlBasedApprovals
You can now define user groups allowed to make first, second, and third approvals for specific invoices using the Financial Control form when CFGEnableFinancialControlBasedApprovals and CFGEnableFinancialControlInVIP are enabled. You must create user groups in the User Groups field before including them in the approval groups.
New in Chartering: Carbon Pricing in Estimates
Requires configuration flags CFGEnableCO2Pricing, CFGCO2DefaultCurrency, CFGCO2Default Price to be set. Requires schema version 360 or higher
You can now use Carbon Pricing in the Chartering module to improve cost estimates related to carbon expense management when the configuration flag CFGEnableCO2Pricing is enabled. The Carbon Pricing feature gives you insight into the CO2 emitted for each voyage leg and provides Sea vs. Port percentages to represent regulations for each region. Estimates will show 100% as the default percentage, but you can update the percentages to be used in emission calculations. You can set the default currency and price with the configuration flags CFGCO2DefaultCurrency and CFGCO2DefaultPrice.
Add voyage itinerary sustainability metrics to the voyage emissions table using the Report Designer
Requires configuration flag CFGSustainability. Requires schema version 360
To simplify emissions reporting, you can now add voyage itinerary sustainability metrics to the Voyage Emissions data table in the Report Designer. By selecting the Synchronize Voyage Itinerary checkbox in the Emissions Data form found in the Sustainability panel, you can enable reporting on total emissions metrics per voyage. This enhancement allows you to generate voyage emissions reports that can be shared with your counterparties. To access the Sustainability panel, the configuration flag CFGSustainability must be enabled.
Cargo Bunker Consumption and Estimates now in Report Designer
Requires schema v37.5
There are new tables for estimated and actual cargo bunker consumptions in the Report Designer. For more accurate reporting on cargo bunker consumption in both estimates and voyages, you can include these fields in your reporting: Heating Rate and Days, Cooling Rate and Days, IGS Rate and Days, and Cleaning Rate and Days.
June 2022
Commissionable CVEs Now Included in P&L
Requires configuration flag CFGEnableCommissionableCVEs
Commissions from CVEs that are marked as commissionable in time charter contracts will appear in P&L when CFGEnableCommissionableCVEs is enabled.
Operations > Voyages > Voyage Manager > Select a vessel > P&L
New Trading Profile Option: Extend Physical Bunker Exposure By One Month
This is an additional solution and requires a separate license. You must have the General Trading Module Right selected. Access to other forms and actions also requires specific Module Rights. Your configuration might differ from the information shown.
You can apply the “Move Physical Bunker Exposure Ahead One Month” profile flag in the Trading Profile to move bunker exposure forward into the following month. You can also apply a sub-flag to specify the number of days that have passed in the month before the bunker exposure moves to the next month. If the sub-flag is unchecked, all physical bunker exposure will move a month past the system exposure date. This profile flag does not impact Bunker Swap or Bunker Swap Options.
Trading > Trading Profile
Improved vessel valuation for bunkers now includes pricing by fuel type
Requires the Trading & Risk module. Configuration flag CFGEnableVesselValuation must be enabled, and you must have the Vessel Valuation Module Right selected, under Quick Links in Trading.
To improve bunker visibility and calculation accuracy, the Vessel Valuation tool now generates bunker prices by each fuel type across all selected vessels. Previously, the Vessel Valuation tool provided only Sea vs. Port pricing by default. All new vessel valuations will generate fuel types while existing vessel valuation records will be preserved. If no fuel type is selected, the sea vs. port pricing will show by default.
Home > Trading & Risk > Vessel Valuation
New Financial Control UI
Requires configuration flag CFGEnableFinancialControlInVIP
A new financial control setup form is available in the Financials module that allows you to define rules for specific invoice types when the configuration flag CFGEnableFinancialControlInVIP is enabled.
You can also set the number of approvals required for a specific invoice type by enabling the configuration flag CFGEnableFinancialControlBasedApprovals. To apply the same Financial Control rules when posting an invoice, you can enable the configuration flag CFGExtendApprovalRightsToFinancials.
Financials > Financial Control
May 2022
Change Paid By or For Account to TCI Owner or TCO Charterer on Bunker Liftings
Requires configuration flag CFGEnableNonOperatorBunkerPurchases
Previously, when toggling Paid By and For Account fields on a record linked to a Bunker Purchase, the system defaulted to Operator for each Bunker Lifting record. Now, you can change Paid By or For Account to either TCI Owner or TCO Charterer and the record will stay linked with the Bunker Purchase, when configuration flag CFGEnableNonOperatorBunkerPurchases is enabled. Bunker Invoices paid by TCI Owner/TCO Charterer cannot be invoiced.
Operations > Voyages > Voyage Manager > Select a vessel > Bunkers dropdown > Bunker Liftings
Account for TCTO Voyage Ballast Legs in Time of Delivery (ROB) Calculations
This is an additional solution and requires a separate license. You must have the General Trading Module Right selected. Access to other forms and actions also requires specific Module Rights. Your configuration might differ from the information shown.
To help you get the most accurate bunker exposure information, you can apply the “Include TC ROB Bunker Exposure” profile flag in the Trading Profile to have the TC in ROB calculation account for TCTO voyage ballast legs until TC out has been delivered.
Trading > Trading Profile
Apply CVE Off Hire to Select Voyage Expenses
Requires configuration flag CFGEnableOptionalOffHireForCVEs.
A new checkbox column is available in the Time Charter common voyage expenses grid that allows you to apply off hire to selected items. Checkboxes for all items will be checked by default and can only be unchecked for non-cleaning, non-lumpsum CVEs. Each item checked will apply per-period to the Estimate P&L, Voyage P&L, and Invoicing and Hire Statement. To view the new checkbox column, the configuration flag CFGEnableOptionalOffHireForCVEsmust be enabled.
Chartering > TC In - List or TC Out - List > TC Code, Details View
New Financials Option: Apply Cargo Itinerary Allocation % to all invoice detail lines
Requires configuration flag CFGEnableActInvDetProrationByItin to be enabled and you must have an interface license.
The Cargo Itinerary Allocation sub-form now includes an additional “OK (Apply to All)” button within the Details grid on the Financials Invoice form. This button allows you to apply selected percentage values for a given detail line to all other lines in the invoice. This enhancement allows you to enter the Cargo Itinerary Allocation amounts one time instead of multiple times when the CFGEnableActInvDetProrationByItin flag is enabled.
Financials > Transaction Data Entry or Journal Entry > Invoice Details
New Fields Added to Customizable Voyage Estimator Itinerary Grid
Requires configuration flag CFGEnableVoyestCustomItinGrid.
On the Custom tab of the Voyage Estimate itinerary grid in the Chartering module, you can now view extra sea days (XSD), fuel type arrival ROB, and fuel type departure ROB fields, along with the same columns available in the Charterer tab. To view the Custom tab, the CFGEnableVoyestCustomItinGrid configuration flag must be enabled.
Chartering > Estimates > Estimate, Details View > Itinerary Grid
April 2022
Add Additional Date Validation to Forms in Veslink Form Designer
In Veslink Form Designer, you can now add a date validation field under Visible When, Valid When, and Warn When as part of the form's acceptance criteria. This can help you validate your form data resulting in fewer errors.
Create Configurable Alerts in Financials
You can now create configurable alerts that will appear on the Transaction Data Entry and Journal Entry forms that can guide or get a user’s attention, or prevent an invoice or journal entry from being posted if a rule is violated. To configure alerts, navigate to the Tasks & Alerts Rule Set List and select “Financials Invoice” as the Applies To object.
Ignore Save-Preventing Alerts in Invoice Bulk Posting
Configuration flag CFGIgnoreSavePreventingAlertsInInvoiceBulkPosting must be enabled.
When bulk-posting invoices or journals in Financials through the Transaction Summary list, Post Invoices list, or Post To Financials functionality in Voyage Cost Allocation and Demurrage Cost Allocation forms, if any invoice or journal violates a previously configured alert rule it will fail to post and the rest will be posted when the CFGIgnoreSavePreventingAlertsInInvoiceBulkPosting flag is enabled.
March 2022
Export Multiple Veslink Voyage Reporting Forms at Once
You can now bulk download up to 10 Veslink Voyage Reporting forms at a time by selecting the forms you wish to download and then selecting the new "Download” button.
Reject Previously Approved Forms in Veslink Voyage Reporting
Feature Board request
You can now reject previously approved forms with the status "approved" or "open for resubmit."
Part Cargo/Parcel Factor Is Adjustable & Visible in Cargo Form
Requires database version 35.9 and CFGPartCargoFactorOverride must be enabled
Manually adjust the Part Cargo Factor for your part cargos on the Cargo form in the Exposure tab to ensure that the exposure is being accurately calculated. Once saved, the adjusted factor will be used to calculate the exposure in the Trading P&L.
"From Port Country" and "To Port Country” Columns Added to "Voyage Leg Summary" and “Voyage Leg Details Tables
The Report Designer now includes “To Port Country” and “From Port Country” columns in the “Voyage Leg Summary” and “Voyage Leg Details” tables.
Cost of Carbon Calculated in Sub-P&L Line Items in Voyage Estimate
Requires schema version 360 and CFGEnableCO2Pricing must be enabled.
In preparation for future regulatory carbon pricing schemes in the maritime industry, the Voyage Estimate now displays the effects of C02 pricing in the estimated P&L as additional lines. These lines include the total CO2 Cost, a CO2 adjusted Profit and a CO2 adjusted TCE. This data is driven by existing CO2 emission information and new CO2 pricing fields in the Bunker planning form. Defaulting the CO2 pricing fields can be done via CFGCO2DefaultCurrency and CFGCO2DefaultPrice.
February 2022
Add Attachments to All VVR Forms
You can now add file attachments to all submitted forms in Veslink Voyage Reporting using the new "Add Attachment" button.
View Combined P&L Report for Mirrored Voyages
A new built in report called Mirrored Voyage Profit & Loss has been added to Voyage Manager's Reports dropdown that allows you to view the combined P&L for mirrored voyages. The report will only appear on voyages that are mirrored, via cargo contracts, either from or to another voyage. It displays the Source and Mirrored voyage P&L categories side-by-side. For categories that the two voyages have in common, a variance is displayed for each P&L column (Estimate, Actual, and Posted). For categories unique to one voyage or the other, the variance is blank.
Edit the Rate Table Logic from the Cargo/COA Form When Scale Table is Selected in Extra Freight Terms
Configuration flag CFGEnableExtraFrtRateScaleTable must be enabled
When adding extra freight to a scale table contract, you can edit the structure of the scale table using two new options in the Extra Freight Term grids:
Choose Scale Table: you can select a specific scale table to apply to the Extra Freight Term line on the contract
Edit Scale Table: you can open the Rate Table form for the line item and make changes if you have the necessary security permissions
Time Charter Estimates Considers Common Voyage Expense Periods
Time Charter Estimates now import Common Voyage Expenses (CVEs) from the base time charter and apply time dependent CVEs correctly in the Misc. Expenses section of the estimate's P&L calculations.
Submit Multiple Veslink Forms In One Email
You can now submit multiple Veslink forms in a single email.
Rebilled Bunkers Now Appear On the Hire Statement of a TCO Contract
Configuration flag CFGEnableTcoBunkerOnOwner must be enabled
Full/partial rebilled bunkers are now included in the TCO Hire Statement when the CFGEnableTcoBunkerOnOwner flag is enabled.
January 2022
Send Voyage Instructions as PDF attachments
Feature Board suggestion
You can now email voyage instructions as PDF attachments by checking both "Veslink will automatically send an email to the vessel when Voyage Instruction forms are submitted" and "Send Voyage Instructions as PDF attachments."
Delete Attachments from Veslink Forms
In the Agent Portal, you can now delete attachments that were added to a form in Veslink Forms.
Delete Saved Forms Drafts in Veslink Onboard
You can now delete saved forms drafts in Onboard.
New Icon Shows Number of Validated Forms Pending Approval in Voyage Manager
On the Forms link in the Voyage Manager workspace side panel, an icon has been added that displays the number of forms associated with the voyage that have been validated and are pending approval.
Apply Laytime Calculation Deductions to Entire Port Call
Default behavior when CFGAggregatePortTabOnLaytime is enabled
Laytime calculation deductions can now be synced across common port calls. When CFGAggregatePortTabOnLaytime is enabled, syncing will be the default behavior for new deductions.
New Visual Link Between Laytime Cargo Handling and Port Activity Grids
The first column of the Laytime Calculation Cargo Handling grid is now populated with radio buttons that, when selected, open the corresponding Port Activities tab, providing a visual link between the two.
Capitalize and Amortize Costs Before Performing Period on Monthly Accruals Form
Default behavior when CFGDefaultPnLCalcCapAmortContractFulfillmentCosts is enabled
On the Monthly Accruals form, a new P&L Calc Option called “Capitalize and Amortize Costs Prior to Performing Period” has been added that allows capitalization and amortization of costs incurred as a result of fulfilling a contract prior to the performing period of the contract, and after the nomination date.
When selected, the costs incurred between the Nomination Date and the Start of the First Load port will be capitalized and then amortized over the performing period as defined by the Start of First Load to the end of Last Discharge on the voyage. The amortization will happen as a percentage of the performing period completed on the accrual date. Costs incurred during the performing period will not be affected by this option.
This option will be selected by default when CFGDefaultPnLCalcCapAmortContractFulfillmentCosts is enabled. It requires additional business rules to be added to account for the journals generated from this logic using the following prefixes: "CAP," "AM," "EXP," and "CM" for capitalized costs, amortized costs, costs expensed to the period and all other journals respectively.