World News
StormGeo Adds Imarex's Forecasting Tool to Time Bunker Fuel Purchases
Voyage optimisation firm StormGeo has upgraded its bunker management platform with a forecasting system from Imarex Technology to help shipowners decide the best time to buy marine fuel.
The company has integrated Imarex Technology's Traffic Light System into its s-Insight Bunker Management platform, StormGeo said in an emailed statement on Wednesday.
The system incorporates predictive models designed to optimize the timing of bunker fuel procurement, according to Imarex Technology's website.
"This integration makes StormGeo's Bunker Management the most comprehensive bunker decision-support tool on the market," Julie Nielsen, global head of bunker sales at StormGeo, said.
"Our platform already tells operators where and what to bunker; with Imarex's proven forecasting, we can now also tell them when."
Imarex claims its system has improved buying accuracy by more than 60% and helped clients save around $7/mt this year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 482.00 | 1.00 | 679.00 | 2.00 |
| Rotterdam | 442.50 | 1.00 | 665.00 | 3.50 |
| Houston | 461.50 | 0.50 | 660.00 | 1.00 |
| Fujairah | 483.50 | 1.00 | 736.50 | 2.50 |
| Global 20 Ports Average | 515.00 | 2.00 | 760.00 | 0.50 |
| Global 4 Ports Average | 467.50 | 1.00 | 685.00 | 0.00 |
| Global Average Bunker Price | 557.00 | 1.50 | 801.00 | 2.50 |
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