The deal makes Marfin BunkerTrace's first commercial partner. Image Credit: File Image / Pixabay
Marine fuels tracking service start-up BunkerTrace has announced its first commercial partner, Monaco-based ship manager Marfin Management SAM.
Marfin "will use BunkerTrace to track marine fuel, using synthetic DNA markers at specific points of the supply chain and record each transaction in a blockchain-based solution," BunkerTrace said Wednesday.
"We're delighted to form this alliance with BunkerTrace to ensure our vessels are compliant with IMO 2020 and to manage the risk of non-compliant or contaminated fuel," Marfin CEO Alex Albertini said.
"As managers, we have responsibility for safety and compliance across the whole bunkering process; and working with BunkerTrace gives us a new level of confidence in how we do that.
"Our aim is to take back control of the entire bunkering process, from insurance and supply to purchasing and bunkering.
"By adding BunkerTrace's unique tags at specific points of the bunkering process from terminals to bunker barges and being able to validate the stem in real time onboard the vessel, while uploading all the process information on a blockchain infrastructure will create full transparency and accountability for every stakeholder in every bunkering operations."