FIVE of the world’s leading shipbroking firms have launched a purpose-built recap and charter party management platform.

Arrow, Gibson Shipbrokers, Howe Robinson, Ifchor Galbraiths and SSY have collaborated to introduce Ocean Recap, an innovative solution to meet changing needs in the ship broking business, as rapid consolidation and digitalisation of charter parties has given rise to fears of an overconcentration of data control.

The platform, designed to address the growing concerns of monopolisation and data security in the recap and charter party space, was developed in partnership with Signal Ocean over the past 18 months. 

Born out of a shared vision from its founding partners, Ocean Recap says it is structured to operate independently and provides a secure environment for customer data. 

Initial testing has produced more than 1,000 charter parties for about 75 clients in the dry and tanker markets. The platform has cleared several tests and milestones over the past months and is now set for a soft launch.

These include an independently performed penetration test, implementation of an information security management system and ISO27001 implementation, as well as strategic collaborations with prominent charterers and owners.

Netherlands-based Ocean Recap is now entering its final testing stage by making a limited number of spaces available for early adopters who can register for free from today but would be encouraged to provide feedback. A general release is scheduled for mid-2025.

Chief executive Jeroen Wolthuis said: “By uniting some of the most respected names in shipbroking, we are creating a platform that prioritises independence, security and industry collaboration.”

He added: “Ocean Recap represents a defining moment for the maritime industry... it’s a commitment to preserving the integrity and privacy of our client’s data while revolutionising how recaps and charter parties are managed.”