World News
Bunker Buying Function Forms Part of Ship Management Software to Launch next Year
A bunker-purchasing feature as part of the Nereus ship management software package is to launch in January next year.
The software, developed by Cyprus-based technology company Veltrone, allows users to monitor bunker price movements, submit enquiries and follow the bunkering operation through to completion. Additional security is achieved by incorporating blockchain technology.
"It is a fully comprehensive software package," chief executive of Veltrone Nikolas Gkikas told Ship & Bunker.
The bunker purchasing feature, which is supported by the software's analytics function, is to launch in January with operations and chartering pushed out the following month.
Gkikas' stints at bunker firms LQM and Shipoil has informed the software's development and he says that feedback from shipping clients has been positive.
"The testing with our shipping clients has gone well and we have a number of pre-orders for the product."
The bunkering function operates blockchain technology which provides for the strongest level of security, he said.
Veltrone has a core staff of 12 and its initial clients are European shipping companies. Further ahead, the company will market its product in the United States and China. Veltrone's head office is in Nicosia with bases in Athens and London.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
Popular Now More
-
Apr 28Failing to keep track of energy density variations could be costing shipping companies as much as $25/mt in fuel bills, Shipergy CEO Daniel Rose tells Ship & Bunker. -
Apr 28Gross profit from the marine segment was $35.7 million in Q1 2025, down from $48.4 million a year earlier. -
Apr 23Initial Ship & Bunker analysis shows ships would need to use between 17.6% and 23.3% biofuel in B100 terms to avoid penalty charges in 2028.