The joint venture is based in Singapore. File Image / Pixabay
Marine fuel supplier Minerva Bunkering is set to join forces with technology firm Rise-X.IO on a digital bunkering service in Singapore.
The two firms have established a joint venture in Singapore, ADP Clear Pte Ltd, to combine Minerva's ADP digital bunker supply service with Rise-X.IO's DIANA Ecosystem Operating Platform to provide an end-to-end service, Minerva said in an emailed statement on Thursday.
The new system will provide end-to-end transparency on bunker trades from nomination to settlement, simplified one-click purchasing and contract nominations, and real-time data analysis, compliance management and reporting, the company said.
"Our partnership with rise-x.io allows us to extend the capabilities of ADP driving end to end digitalization and the resulting visibility and cost savings that reach from the front office to the to the back office and beyond," Tyler Baron, CEO of Minerva, said in the statement.
Minerva launched its ADP service earlier this year.