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Global Hub Agency

Inchcape Shipping Services (ISS) pioneered the outsourcing of agency management services, and is in the unique position to offer an integrated outsourcing solution that creates enterprise value throughout the principal’s operations, from chartering through operations to accounting and finance.

All services are delivered in a truly open and transparent manner, with full oversight of all financial transactions and operational data relating to port calls through YourISS, ISS’ comprehensive port agency management application. In addition to cargo, bunker, canal and husbandry agency, ISS can offer standard solutions for crew logistics, spares logistics and Cash to Master services, as well as specialist solutions for launch services and other services specific to certain ports.

YourISS has been integrated to a number of Enterprise Resource Planning solutions, enabling principals to manage its entire shipping operations, from the planning stages over chartering, operations and technical management, supported by financial and operational port call data delivered from YourISS. The integrated solution optimizes asset utilisation and cashflow through more precise operational data, enabling a migration from a controlling enterprise to a predictive planning enterprise, where the ERP solution creates significant competitive advantage. Following the acquisition of ShipNet, YourISS has been deeply integrated to this market-leading ERP solution. Integration to Principal’s ERP solution is optional.

ISS takes pride in operating under a global QA certification (ISO9001:2008) covering all its offices, and with a comprehensive set of operating policies that are aligned with its principals’ policies, enabling a move from being the Partner of Choice, to becoming a Strategic Partner for its principals, which are drawn from all sectors of the international shipping industry, the principals’ operational and financial management of the port calls.

Hub agency services can be provided also when ISS is not the performing agent, supporting the principals’ operational and financial management of the port calls.

The constituent elements of ISS’ unique service offering include:

Port agency services

Please refer to the product definitions ‘Port Agency – Performing Agency’ and ‘Port Agency – Protective Agency’ for further details.

Financial hub agency services

ISS’ global finance hub handles all aspects of Disbursement Account management, from verification of Proforma Disbursement Accounts (PDA) from performing agents, through funding of agents to validation of Final Disbursement Accounts (FDA), with monitoring of variances and controlling that only valid expense items are included.

The ISS global finance hub will split DAs into owners and charterers expenses in accordance with principals’ instructions, and implement procedures to improve the DA turnaround time, supporting principals’ cashflow management.

The DA management process is fully transparent, and principals can monitor the evolving port costs, from PDA through to FDA in YourISS. Supporting invoices are uploaded to YourISS, which also enables online approval of FDAs, saving time and transaction costs.

By using ISS’ global finance hub, principals have a single-point of remittance for port costs, saving remittance and courier costs, and freeing up resources in the principal’s own organisation. The single-vendor structure means that the principal will have one off-setting entry in its books, replacing hundreds or thousands of entries made to track advances to agents against individual agents’ accounts.

Through YourISS principals are able to run port cost analysis reports to identify cost saving opportunities. ISS account codes are mapped to the principals’ Chart of Accounts to simplify oversight of data and facilitate transfer to the principal’s internal systems.

Operational hub agency services

The experienced hub staff creates value for the principal throughout the port call process. PDAs from performing agents are scrutinized to ensure that costs are competitive. If costs are not competitive, the hub will engage in a negotiation with the performing agent to secure the best costs for the principal.

The ISS operational hub will oversee that the principal’s instructions to agents are adhered to, and closely monitor the operational performance of the performing agents. Concurrently, ISS monitor the financial and operational status of performing agents, supported by vendor checks.

Through proactive assistance on vendor dealings ISS will help the principal identify opportunities for cost optimisation through volume discounts, early payment rebates and other commercial options.

ERP services

Please see our ERP Solutions page for a detailed description

For further information about Global Services please contact:

Senior General Manager Commercial
Jeff Clark

Direct Line : +44 (0) 1375 651722
Mobile : +44 (0) 7817 856 213
Contact Jeff Clark