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PortDA

Portda.com

UAE
Market: Logistics and warehouses, Transport, Financial services
Stage of the project: Operating business

Date of last change: 13.07.2020
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Idea

A Virtual Agency Network which connects Cargo Owners, Ship Owners and Ship Agents globally.

Current Status

PortDA is an operating Virtual Agency Network controlling more than 50% of the general cargo shipping business between China and GCC; and now the plan is to be a global player.

Market

There are more than 53,000 merchant ships trading internationally (statista.com). In addition, according to the World Shipping Council, the average ship makes about 2 port calls per week. As a result, the market size is 53,000 x 2 port calls per week x 4 weeks x 12 moths = 5,088,000 port calls per year and this number is increasing every year.

Problem or Opportunity

Time is a very important factor in shipping business and for any ship owner to get the cargo business he/she needs to calculate the cost of shipment and offer a freight rate to the cargo owner as soon as possible to avoid losing the business to another faster competitor. However, traditional port agents takes up to 24 hours to send the port expenses to the ship owner because of the time difference between countries and slow calculation process.

Solution (product or service)

PortDA.com has created a revolutionary Port Dues Calculator which provides port costs in few seconds for major ports of more than 100 countries globally.

Note: We are the only global service provider with a US patent application.

Competitors

We are the only global service provider of the Port Dues Calculator with a US patent application.

Advantages or differentiators

Being the only global service provider of the smart Port Dues Calculator with a US patent application gives PortDA a competitive advantage than any other traditional agency networks.

Finance

Depending on the investment and marketing budget, we can assume to have a target market share between 1% to 5 % in the first 3 to 5 years, this is between 50,880 to 254,400 port calls per year.

Business model

As we stated above section, our agency network is charging the agent a commission of 1000 usd per port call against securing the agency business.

Money will be spent on

Global expansion, customer acquisition, software development.

Offer for investor

9% share of the company.

Team or Management

Risks

There is no risk. However, there is a global challenge of digitalizing the shipping industry and convincing the people to adapt to new technology.

Incubation/Acceleration programs accomplishment

Nothing Yet.

Won the competition and other awards

US Patent Application.

Invention/Patent

US PATENT APPLICATION # 15/970,896

Photos

Photo 1 - Portda.com

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video