Smart traders check online. File image/Pixabay.
Danish tanker owner Torm has signed up to a piece of kit which allows it to make better-informed decisions about where and when to buy bunkers, according to the app's developer.
Inatech's Smart Trader "enables companies to track their vessels on an integrated system that manages fuel levels onboard and updates with live prices and news for supply en route".
The interactive platform will show which ships in the fleet are running low on fuel.
It can assess bunker fuel" compatibility with availability and optimal pricing in the direction of travel" or suggest rerouting.
"Potential suppliers are checked for quality and credit references to control counterparty risk.
"The technology moves the bunker buyer from operational to analytical," the company said.
Smart Trader uses S&P Global Platts' price data. Inatech is a subsidiary of commodity trading house Glencore.