New Platform Launched for Buying and Selling Bunkers

Tuesday November 26, 2013

A new web based platform for buying and selling marine fuel has been launched, its Cyprus-based owners Bunkering at Sea (BAS) Ltd have told Ship & Bunker.

The website, BunkeringAtSea.com, is designed to act as a mediator, connecting bunker sellers to bunker buyers around the world and letting them manage the bunker bidding process completely online through an "always available" system.

"We have created the first integrated electronic platform for bunkers which connects all vessel operators and owners to physical suppliers, brokers, and traders," a BAS spoksperson told Ship & Bunker.

"It improves the transparency of transactions, and simplifies the process of buying bunkers, which means it can also reduce administrative costs."

Once registered, bunker buyers can set up and manage a fleet of vessels, and then place requests for fuel.

Suppliers, who register on the system separately, then bid on those requests through an auction process, where the buyers are ultimately able to accept an offer with the best terms.

BAS said the system will also help users in their decisionā€making, providing them with information such as the average selling prices and fuel trends for each bunkering port throughout the platform.

"Our goal is to provide benefits to all parties involved. By being able to place and manage many bids and offers, owners can achieve lower bunker prices, one of the major costs in the field of merchant shipping," the spokesperson said.

"While for the physical supplier, broker, or trader, they are able to reach clients from around the world, increasing its turnover."

BAS says it already has over 40 companies registered to use the platform.

"Signing up and using BunkeringAtSea.com is completely free, and our commission for completed transactions is only 0.1%," the spokesperson concluded.