NSI sees room for improvement in the live pricing systems available for the bunker market. File Image / Pixabay
Brokerage NSI has launched a new digital platform seeking to give a live picture of bunker prices around the world.
The new platform, Bunker Intel, will be made available to all the firm's key accounts, the company said Friday, and a 30-day free trial will be available to new customers.
Paul Hardy, head of business development at NSI, told Ship & Bunker the new platform would be an improvement on other similar services in the market.
"For too long we saw the market driven by historic data or alternative platforms based on algorithms whereby, historic data was plugged in and the prices would miraculously tick up and down based on crude/MGO movements to seemingly create a live pricing system," Hardy said.
"We categorically did not want to go down this route.
"The idea behind the platform is to capture and present transparently what our world-leading team of brokers see in the market every day and to present it to our clients in the clearest possible way.
"The idea is the client can keep the platform open on the desktop and mobile and they can have a direct connection with what we are seeing in the market."