Brightoil Online V4.0 is now open to all buyers and sellers in the marine fuel market. Image Credit: Brightoil
Brightoil Petroleum (Holdings) Limited (Brightoil) has released the latest version of its online bunker platform.
Dubbed Brightoil Bunker Online V4.0, the latest version of the desktop and mobile tool contains several incremental improvements and functional updates.
The system now combines the previous "Bunkering" platform, on which Brightoil was the only supplier, and the "E-Bunkering" platform, which allows any third-party buyers and suppliers anywhere in the world to transact.
"This is an independent platform open to all buyers and sellers in the marine fuel market," Brightoil told Ship & Bunker.
parties may also opt to use open credit with Brightoil for the transaction
First launched in 2015, the company says it now has "thousands of users" that includes suppliers based in Singapore, Fujairah, Hong Kong, Houston, Shanghai, and ARA.
Over and above the functionality users might hope for in such a system, such as a "live" bid/ask process and the documentation of paper trails, the platform also contains several novel features.
Among those are its physical Fixed Forward Price (FFP) indications that allow buyers to lock-in Brightoil's bunker prices at a number of key ports - including Singapore, Rotterdam, Houston and Fujairah - up to nine months ahead.
When it comes to third party buyers' and sellers' payment options, in addition to using direct credit with each other or cash in advance (CIA), the parties may also opt to use open credit with Brightoil for the transaction.
The new platform is located at https://bunkering.brightoilmarine.com/
The Mobile version of the App can be found in the Apple App Store or Google Play by searching for "e-bunkering"