Release Notes 2023
Several new features and enhancements are available in IMOS. For more information, see the 2023 Changelog.
December 2023
Improved visibility and support for Emission Allowance Invoice and Emission Allowance Transfer price differences
Requires the configuration flag CFGApplyAllowancePriceDiffToPnL.
When the new configuration flag CFGApplyAllowancePriceDiffToPnL is enabled, any difference in price between the Emission Allowance Invoice and the matching Emission Allowance Transfer will be reflected on the Voyage P&L. The price of the allowance(s) that are transferred will be the price used for a given emissions expense line item on the voyage.
EU ETS defaults to 0% when traveling between the outermost territory and the same EU member state
In alignment with EU regulations, legs between ports in the outermost territories of a country or between a port in the outermost territory and the parent country will show ETS Sea and Port percentages of 0% by default.
Cargo conversions apply the Alternative Quantity for Emissions Metrics when the Cargo Qty has an unsupported UOM (unit of measurement)
When Transport Work Calculations and Cargo Emission allocation can not convert a lifting's BL quantity to MT, the calculation attempts to convert the lifting's Alt Qty to MT.
New in Trading & Risk: Set user permissions to confirm Carbon Allowance Trades and Bulk Confirm Trade(s) is now supported
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.
A new Module Right security permission, “Set Carbon Allowance to Confirmed,” prevents users without permission from confirming trades, ensuring that controls are properly followed. Additionally, the Bulk Confirm Trade(s) logic is now supported in the Carbon Allowance List, which marks the trades as confirmed and adds a broker confirmation number if one does not already exist.
Added Interface Support for the Carbon Allowance Contract and API handling
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.
New API endpoints are available for creating, updating, and deleting paper trades. This interface support includes all paper trades (FFA/Option, Bunker Swap/Option, Commodity/Option) and new Carbon Allowance trades. Access to the API endpoint requires the Trading Module license. The endpoint for creating and/or updating is ApplyUpdatePaperTrade, and the endpoint for deleting is DeletePaperTrade.
New in Chartering: Filter out specific Time Charter contracts from the TC Code dropdown
Requires the configuration flag CFGExcludeStatusFromVoyageTCDropdown.
You can filter out Time Charter contracts by status in the TC Code dropdown on the Create New Voyage and Voyage Estimate forms when the configuration flag CFGExcludeStatusFromVoyageTCDropdown is enabled. Time Charters with Closed, Canceled, and Withdrawn status will be excluded by default.
November 2023
New in Trading & Risk: Allowance Settlement Support for TC Out Contracts
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. Requires a minimum schema version of 433 and the configuration flag CFGEnableTCEmissionsAllocation.
With the new configuration flag CFGEnableTCEmissionsAllocation, you can see the Emissions tab on Time Charter In and Time Charter Out contracts. The Emissions tab lets you capture the Allowance Settlement details on the Time Charter contract for handling the new EU ETS regulation. You can choose to have no settlement (N/A), settle with Cash, Allowances, or a hybrid of both. You can specify the billing period and the payment terms, separate from the billing period and payment terms for Hire on the contract.
When you choose a Cash settlement, the Cash Invoice grid is visible in the tab. On a Time Charter In contract, invoices received from the TC Owner for certain periods of the contract can be recorded. Voyages in the selected period are updated, and emissions expense is realized for the period, while the uncovered period on the voyage reflects the remaining estimated emissions expense. These invoices follow the standard invoicing workflow and can have a pending, invoiced, and posted status. On a Time Charter Out contract, invoices can be generated for the charterer on the contract to cover emissions expenses.
When you choose Allowance settlement, the Allowance Invoice and Allowance transfer grid is visible in the tab. The Allowance Invoice grid is used on the Time Charter In contract to capture invoices received from the owner for a given Allowance quantity. The Allowance Transfer grid lets you select designated allowances (Carbon Allowance Trades) and mark them as transferred to the owner. Allowances can only be transferred on a posted invoice, similar to a cash payment. Once the allowances are transferred, the Carbon Allowance trade’s available balance is reduced accordingly and reflected in the Trading module. On a Time Charter Out contract, this process will be used to track the invoices for allowances sent to the charterer. Allowances marked as transferred are for reference purposes only, and the Carbon Allowance trade with the given quantity received from the counterparty still needs to be captured in the system.
When you choose the Hybrid option, all three tables are visible. You can generate a combination of cash and allowance invoices for given periods of the Time Charter contracts.
New in Tasks & Alerts: Cargo Exposure fields are now supported
The Exposure tab fields, including Benchmark Estimates, Cargo Exposure Bunkers, Exposure Method, and Benchmark M2M Basis, are now available in Cargo Task and Alert Rule Sets, allowing you to create rules to achieve regulatory compliance and set internal standards.
October 2023
New Demurrage Summary Bookings List
Requires the configuration flag CFGEnableDataFormsBasedDemurrageSummaryBookingsList
A new Demurrage Summary Bookings List version is now available in the Operations module.
Enable the configuration flag CFGEnableDataFormsBasedDemurrageSummaryBookingsList to access the new list. The list shows projected and actual laytime calculation rows when the configuration flag is enabled. When accessing the new list, select the Reset User View to Default button at the top of the list to apply default filters, which improves performance and allows data beyond a year to show.
When Port Activities include ROBs, the berth consumption calculation uses the difference in ROBs between the first All Fast and the final Last Line Port Activity; this value updates the Port consumption in the Carbon Calculator. The consumption prior to berth arrival is added to the previous sea leg, and the consumption after leaving the Berth is added to the subsequent sea leg. This update reflects the EU ETS logic that defines sea legs as berth-to-berth.
New in Sustainability: CO2 exposure updates automatically when the Benchmark Estimate changes
Requires the configuration flag CFGEnableCO2Exposure.
When Cargo/VC-In uses the Benchmark Estimate exposure method, and the configuration flag CFGEnableCO2Exposure is enabled, CO2 exposure values update automatically following CO2 changes in the estimate.
September 2023
New in Chartering: Ballast port included in the Carbon View
When switching to Carbon View in the Estimator, the column view now displays the ballast port, allowing you to account for ballast consumption.
Include the "Apply Carbon Expenses to Period“ P&L calculation on the Monthly Accruals form by default
Requires the configuration flag CFGDefaultApplyCarbonExpenseToPeriod.
The "Apply Carbon Expenses to Period“ P&L calculation option on the Monthly Accruals form is selected by default when the configuration flag CFGDefaultApplyCarbonExpenseToPeriod is enabled. The Voyage P&L uses this calculation option when the configuration flag is enabled.
Attribute ETS emissions and costs in the Carbon Calculator to individual cargoes
You can attribute ETS emissions and costs from the Carbon Calculator to individual cargoes using the Carbon Emissions Table in the Report Designer. Using a filter based on a specific Booking No, Vsl Code plus VoyNo, or Cargo ID, the system prorates emission and cost for each itinerary line based on the specific cargo’s quantity versus the total amount of cargo on board. Calculations require conversion to MT. The Carbon Emissions Table is a standalone table and is not joinable.
New in Trading & Risk: Allowance Settlement Type added to the Commodity Trade form
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. Requires the configuration flag CFGEnableCO2Exposure.
A new settlement option, “As Allowance,” shows on the Commodity Trade form when the Carbon checkbox is selected. When you use this settlement type on the trade, the trade settles by converting into a Carbon Allowance trade on expiration. The trade can be settled with cash or as allowances.
New in Trading & Risk: Invoicing support for Carbon Allowances
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. Requires the configuration flag CFGEnableCO2Exposure flag.
Invoicing support has been added to the Carbon Allowance trade. The Create Invoice button on the trade will generate a new invoice form with details populated from the underlying contract. This workflow is completed after the trade is booked in the system and the invoice has been received.
August 2023
New in Trading & Risk: CO2 emissions expenses in the Freight Matrix
CO2 Emissions expenses are now available in the Freight Matrix, allowing you to assess the carbon impacts when pricing freight. The schema version must be 429 or higher to save results on a matrix.
New in Sustainability: Berth vs. Port consumption in the Carbon Calculator
The Carbon Calculator now assigns Anch In and Pilot-to-Berth emissions to the previous sea leg and Berth-to-Pilot and Anch Out emissions to the following sea leg instead of assigning them to port emissions.
Updated Voyage Transport Work and Total Cargo Carried calculation
Voyage Transport Work calculation now uses BL Quantities when the lifting is actualized.
Equipment column added to Vessel Schedule
The Vessel Schedule now displays an Equipment column when voyage equipment data is present.
July 2023
Automatically create per-port, per-counterparty Estimate Demurrage records on voyage creation
In the Data Center, you can apply the setting ‘Auto Create Per-Counterparty Per-Port Estimated Demurrage’ to a voyage template to create per-port, per-counterparty Estimate Demurrage records automatically on voyage creation when configuration flags CFGEnableMultiEstDem and CFGAutoCreateEstVoyageDemurrage are enabled.
Vessels Value CII Webhook is now available.
Requires a valid subscription to VesselsValue and configuration flag CFGVesselsValueKey.
A new standard webhook is available in the Estimator for VesselsValue CII data. This webhook requires an API key in the new CFGVesselsValueKey configuration flag. When added to a Tasks and Alerts Rule Set, it will display the CII Rating, Current AER, Previous Distance, and Previous CO2 Emissions for a vessel. Requires a valid subscription to VesselsValue.
New in Sustainability: Include TCO emissions expenses in the PnL
Requires schema version 360 or greater and the configuration flag CFGEnableCO2Pricing.
You can include TCO emissions expenses in the PnL by selecting the Emissions checkbox in the Estimate's Column view.
New in Sustainability: Include emissions expenses from the Carbon Calculator in P&L automatically. The new configuration flag CFGDefaultIncludeCarbonExpInPnl allows you to automatically include emissions expenses from the Carbon Calculator in the P&L.
View the Notifications panel in the Estimate Column view
Requires configuration flag CFGEnableAgGridInNotificationsPanel
When the CFGEnableAgGridInNotificationsPanel configuration flag is enabled, you can select a double arrow icon on the Worksheet Estimate Column view to expand the Notifications panel for that Estimate, including Tasks, Alerts, and Webhooks.
Voyage Fixture Report XML includes Description and Dangerous flag for each cargo grade.
When multi-grade cargoes are enabled, the Voyage Fixture Report XML now includes the Description and Dangerous flag state for each individual cargo grade.
June 2023
Inactive fuels are hidden for new Time Charters
Requires the configuration flag CFGBunkerDeactivation.
Newly created Time Charters will now hide fuel types marked as Inactive on their associated vessel when the configuration flag CFGBunkerDeactivation is enabled. Historic Time Charters will still display deactivated fuel types.
Refined Carbon Calculator logic for EU emissions sea and port percentages
The Carbon Calculator logic for EU emissions sea and port percentages has been improved to handle Mayotte, Akrotiri, Dhekelia, Bonaire, Saba, Sint Eustatius, and Gibraltar.
Expanded “Apply Corr. to Days” functionality
The “Apply Corr. to Days” checkbox, visible when you select the “Structure” checkbox for Unpriced Components in Chartering, now has expanded functionality. If the “Apply Corr. to Days checkbox” and the Use Corr/Adj from Index-Linked Contract Trading profile flag are selected, the correlation will be applied to the contract days exposure of the linked contract.
Exclude specific fields from TC Contract mirroring
Requires the configuration flag CFGTCMirroringExcludedFields.
The new configuration flag CFGTCMirroringExcludedFields allows you to exclude a comma-separated list of the TC fields Department, LOB, TradeArea, and BillVia from TC contract mirroring.
Sustainability metrics account for LNG using the density factor
The Sustainability Panel now utilizes the LNG's density factor from the first load to calculate the associated carbon emissions, including MT consumption and Total CO2.
New aggregation added to itemized bunker journals under Voyage Period Journals
Requires the configuration flags CFGItemizeBunkerJournal and CFGAggregateItemizedBunkerJournal.
When running Voyage Period Journals after adding new off-hire bunkers or changing bunker consumption, the reversal and the additional line items are aggregated while still preserving the itemization by bunker type when the configuration flags CFGAggregateItemizedBunkerJournal and CFGItemizeBunkerJournal are enabled.
May 2023
Streamline your fuel type data with Fuel Deactivation
Requires a minimum schema version of 407.
The Fuel Deactivation enhancement allows you to preserve historic fuel type data but visualize only relevant fuel types when the configuration flag CFGBunkerDeactivation is enabled. This enhancement introduces a new column, Inactive, on the vessel. When a fuel type is marked as inactive for a vessel, new Voyages, Estimates, and Time Charters for the vessel will no longer display the inactive fuel type in bunker-related grids or consume it. If you need to correct the status of a fuel type on a Voyage, you can reactivate hidden fuels by selecting Re-activate Fuels on Voyage in the Voyage Bunkers dropdown list. You can resync the Voyage to the Vessel by selecting Sync Fuel Deactivation From Vessel in the same Voyage Bunkers list.
New in Sustainability: Access the Carbon Calculator in the Voyage Manager
Requires schema version 411 or greater and the configuration flag CFGEnableCO2Pricing.
You can now launch the Carbon Calculator form to access the itinerary-level ETS emissions calculation in the Voyage Manager. You can access the CO2 fields from the Sustainability Panel under the Voyage table in Report Designer.
New in Sustainability: View total EU ETS emissions in the Carbon Calculator
Requires schema version 411 or greater and the configuration flag CFGEnableCO2Pricing.
In the Carbon Calculator, you can now view the total EU ETS emissions in MT to track tonnage and cover emissions exposure on a voyage.
CO2 Exposure fields available in Cargo.XML
Requires configuration flag CFGEnableCO2Exposure.
The CargoSaleExport and CargoPurchaseExport type XMLs now include the following CO2 XML fields: co2Symbol, co2Qty, co2Price, co2Currency, and co2CurrencyExchangeRate. When the configuration flag CFGEnableCO2Exposure configuration flag is enabled, these fields will be added to the XML when the cargo is saved.
New in Trading: Bunker Basis Tons added to Trade Details and 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. Requires configuration flag CFGBunkerBasisExposure. Requires Trading Profile flag "Include TC Bunker ROB Exposure" and sub-flag "Ordered Bunkers Only" to be selected. Requires schema version 376 or greater.
A new value called Bunker Basis Tons is available in the Trade Details List and Trading P&L Summary when the new configuration flag CFGBunkerBasisExposure is enabled. This enhancement lets you quickly see the physical bunker exposure for your trades and the swap exposure so you can make necessary decisions to offset your risk.
New in Chartering: Brokers grid now includes the bank’s IBAN
In the Brokers grid for TC In contracts, the Broker field dropdown list now includes the bank’s IBAN (International Bank Account Number) adjacent to the Bank Account field.
Vessel Valuation is now Freight Matrix
Vessel Valuation has been renamed to Freight Matrix. The Freight Matrix form enables you to both compare any number of vessels against a benchmark vessel, across a matrix of estimates to determine each vessel's appropriate Ratio % (correlation) value and across a range of target TCEs and bunker prices to see how the delta against the benchmark will change with market fluctuations. Security rights may need to be granted to the module by admins.
April 2023
New in Trading & Risk: Carbon Exposure fields are now available in the Trading module
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 view the CO2 Exposure fields when the configuration flag CFGEnableCO2Exposure is enabled.
The Cargo Contract field captures the contract’s carbon exposure and the base price for the Benchmark Estimate and Manual exposure methods. The Trading P&L Summary and the Trade Details list now include several fields to display a contract’s CO2 exposure in tons and unrealized P&L against the market.
In the Trading Profile, the CO2 Market is now an applicable contract type. You can now choose from different commodity market types within the Veson IMOS Platform and add new commodity symbols to capture the market rates for carbon in the system. To capture these in the correct non-USD currency, enable the configuration flag CFGCommodityMarketCurr.
A new Carbon Allowance contract is available in the Trading module, where you can track allowance purchases and sales and add them to your inventory when the configuration flag CFGEnableCO2Exposure is enabled. The Carbon Allowance contract will be displayed in the Trade Details List and the Trading P&L summary as a new contract type.
New in Operations: Additional fields in the Survey Costs form
Requires schema 408 and above
The Survey Costs form now includes fields recording survey date, survey type, incident type, incident reporting information, and vendor info.
New in Operations: Additional fields in Survey Bunker Cost form
Requires schema 408 and above
In the Survey Bunker Cost Form, you can now record quantities prior to resurveying, a price for that quantity, and associated information such as fuel grade, supplier, and the barge name.
New in Tasks and Alerts: Additional Voyage-related joins are now available
For added port compliance, you can now use voyage-related joins in Tasks and Alerts rule sets to prevent the posting or saving of invoices if an invoice links to a voyage with specific ports.
March 2023
New in Sustainability: Phase-in percentages are now supported in the Carbon Calculator
Requires database schema version 400.
To reflect the expected phase-in logic for the EU ETS application to maritime, the Carbon Calculator supports Phase-In percentages in the Chartering module. The Phase-in logic applies the relevant percentage for that year to the carbon expense and displays the values in the Phase-In % column. For cross-year scenarios, emissions will be allocated based on the portion of a voyage leg that is in a specific year.
Voyage Manager’s Sustainability Panel shows AER and estimated CII rating for each voyage
Requires database schema version 391 and configuration flag CFGEnableCiiCalc.
To help you monitor decarbonization metrics and CII goals, the Sustainability Panel now shows AER and estimated CII ratings for each voyage when the configuration flag CFGEnableCiiCalc is enabled.
AER and CII are now available in Report Designer and Tasks & Alerts
Requires database schema version 404 and configuration flag CFGEnableCiiCalc.
You can now access AER and CII ratings from the Sustainability Panel under the Voyage table in Report Designer and Tasks & Alerts.
New in Financials: Apply TC Rebills to Period in the Monthly Accruals form
A new flag, Apply TC Rebills to Period, is now available on the Monthly Accruals form to ensure rebillable items associated with Time Charter Contracts are accrued in the same period as the original expenses. When the Apply TC Rebills to Period flag is selected, the system recognizes any un-invoiced TC Rebill line items in the month of the accounting date of the original expense item when that expense is posted. When the original expense is not yet posted, the system will recognize the TC Rebill item in the month of the invoice date of the original expense item. When the configuration flag CFGDefaultPnlCalcApplyTCRebill is enabled, the flag on the Monthly Accruals form is checked by default.
Display Berth information in the Laytime Calculation form
When the new configuration flag CFGLaytimeEnableBerths is enabled, Berth information is displayed as a column in the New Laytime Setup screen and Cargo Handling grid.
COA Planning Period added to Cargo Import XML
You can now update the planning periods via API using the following fields in the Cargo Import XML: planningPeriodFrom, planningPeriodTo, and usePricingFromCOA. These fields can be included, along with a COA number, to assign Cargoes and VC Ins to specific COA Planning Periods when the configuration flag CFGEnableCOAPlanningPeriod is enabled.
February 2023
New in Sustainability: Transport Work and EEOI calculations in the Carbon View
The Carbon View now includes Transport Work fields and EEOI calculations for estimates, allowing you to visualize pre-fixture emissions impacts and incorporate this information into your decision-making processes.
New in Chartering: Introducing the COA/CVC Analysis form
With the COA/CVC Analysis form, you can run estimates to assess potential contract of affreightment (COA) or consecutive voyage charter (CVC) opportunities in the market by looking at how the offered rate compares to the market prices. The input section of the form allows you to select the estimate ID, a time frame for the analysis, market data routes, symbols, and several additional fields. The output section shows the value of the trade against the market after running an estimate across the market rates in those forward periods. To request access, contact your VIP administrator to enable the configuration flag CFGNewChartering and assign security rights to the appropriate users or user groups.
New in Trading: Support for non-base (USD) currency in commodity trade
contracts and market data prices.
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.
When the configuration flag CFGCommodityMarketCurr is enabled, the currency is added to the Commodity Symbol and Market Data forms. The system accounts for the exchange rate conversion when calculating exposure on the Commodity Trade form in the Trade
Details List and the Trading P&L Summary.
Improved Unavailable Days Logic on TC Contract for exposure 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.
When the configuration flag CFGUnavailableStartAndEndDaysOnTC is enabled, two new columns allow you to capture specific start and end days in the Unavailable Days grid in the Exposure tab of the Time Charter Contract form. When you select the new profile flag “Deduct TC Unavailable Days from Exposure Days,” the Trading P&L will account for the available days on the Time Charter contract and deduct them from the Exposure Days in the period(s) they overlap.
Select VC In as the Cargo in Voyage Other Revenues and Expenses
VC In contracts can now be associated with Voyage Other Revenue & Expense invoices using the Cargo field.
Load Line Routing is now available in the Voyage and Estimate forms, allowing you to select load line zones to avoid in routing.
New in Tasks and Alerts: Vessel Owner Address Book join to Vessel T&A
Tasks and Alerts now supports joins on a Vessel Owner Address Book from Vessel, Estimate, and Voyage rules.
January 2023
New in Financials: User Defined Fields available on TDE and in posted invoices
A new applicability option, Financials Invoice, is available in the User-Defined Fields setup form in the Data Center.
A new Properties tab in the Transaction Data Entry (TDE) form allows you to specify related values for User-Defined Fields.
A new optional element, invoiceUserProperties, has been added to the invoice interface notification XML which contains values from the invoice's Properties tab.
Enhanced Carbon View in the Estimator Worksheet now includes fields from the Classic View, including Speed Ballast/Laden, Commence Date, and port information that will give you additional context when updating your estimates.
New in Sustainability: Include Carbon Intensity Indicator (CII) in Combined Estimates
The Voyage Estimate Combination form will show a total AER score across multiple selected estimates and a combined CII rating when the configuration flag CFGEnableCiiCalc is enabled. The CII rating requires the selection of the same vessel across estimates.
Connect CII fields to estimator webhooks in the Carbon View for more accurate CII calculations. The Carbon View now supports updates via webhook calls using the fields prevDistance and prevEmissions. This feature allows you to import previous distance and emissions data for a vessel from an external system.
Update vessel names in TC contracts
If you have the Update TC Vessel Names permission assigned in Module Rights, you can now update TC vessel names even after the contract has been saved.