Cost-Benefit Analysis: Transitioning from Paper Logbooks to Electronic Record Books (ERB)

This analysis estimates the financial impact of switching from traditional paper logbooks to an Electronic Record Book (ERB) system for a fleet.

1. Current Cost of Paper Logbooks (Per Ship)

Category	Estimated Cost (€) Per Year
Purchase of Logbooks (10–20 per ship)	€1,000 – €3,000
Administrative Time (Manual entries, corrections, audits)	€2,000 – €5,000
Storage & Archiving (Physical space, compliance retention)	€500 – €1,500
Regulatory Fines (Errors, missing logs, late submissions)	€1,000 – €5,000
Total Estimated Annual Cost (Per Ship)	€4,500 – €14,500

2. Cost of Implementing ERB (Per Ship)

Category	Estimated Cost (€) Per Year
ERB Software License & Maintenance	€2,000 – €5,000
Hardware (Tablet/PC for logging)	€500 – €1,500
Training for Crew & Officers	€500 – €2,000
IT Support & Compliance Updates	€500 – €1,500
Total Estimated Annual Cost (Per Ship)	€3,500 – €10,000

 

3. Estimated Savings Per Ship

Savings Category	Estimated Annual Savings (€)
Reduction in Logbook Purchases	€1,000 – €3,000
Less Administrative Work (Faster logging, fewer corrections)	€2,000 – €5,000
Reduced Storage & Archiving Costs	€500 – €1,500
Fewer Regulatory Fines (Automated compliance & reports)	€1,000 – €5,000
Total Estimated Savings Per Ship	€4,500 – €14,500

 

4. Fleet-Wide Impact (Example for a Fleet of 10 Ships)

Scenario	Annual Savings Per Ship (€)	Total Fleet Savings (€) (10 Ships)
Low Estimate	€4,500	€45,000
High Estimate	€14,500	€145,000

👉 A shipping company operating 10 vessels could save between €45,000 and €145,000 annually by switching to ERB.

Additional Benefits of ERB

✅ Regulatory Compliance: Reduces risk of non-compliance with IMO, MARPOL, SOLAS, and flag state requirements.
✅ Automation & Digital Storage: Instant retrieval, digital signatures, and remote monitoring.
✅ Environmental Impact: Less paper consumption, contributing to sustainability goals.
✅ Improved Accuracy: Minimizes human errors and fraud risks.