World News
Inatech Launches New Fuel Procurement System For COVID-Hit Mid-Size Ship Operators
Glencore-owned software provider Inatech has launched a new version of its bunker fuel management system designed for small to mid-size ship operators.
The new system, ShiptechLite, is suited to firms with a fleet of less than 40 ships - the segment hit hardest by the Covid-19 fallout, the company said in an emailed statement Wednesday.
"These operators often lack options to weather a crisis, such as keeping ships in storage, and typically have lower cash buffers and resilience," the company said.
Tools on offer via the platform include access to marine fuel pricing data at more than 200 bunkering ports from leading marine fuels publication Ship & Bunker.
"While addressing the needs of smaller shipping firms today, ShiptechLite is an affordable and permanent product offering", said Alok Sharma, Senior Vice President at Inatech in London.
"We have collaborated closely with smaller shipping companies to match the product very closely to their differing needs at a price point that suits their business models."
The system is a decision support tool that aims to automate parts of the bunker procurement process, including sending out requests, making port recommendations, and analysing the tactics of suppliers.
Readers interested in learning more about ShiptechLite, which is available for a free trial, can visit: http://www.inatech.com/products/marine-fuel/shiptechlite/
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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