World News
New Bunkering Platform Targets Fuel Cost Transparency
Technology firm FuelTrust has launched a new bunkering platform aimed at increasing fuel purchasing transparency for the shipping industry.
The Bunker Insights application is a bunkering digitalisation service for both shipping firms and fuel suppliers, FuelTrust said in an emailed statement on Monday. The software displays fuel documents and data, including bunker delivery notes and fuel testing records, on a digital cloud-based system.
"Bunker Insights offers teams the information they need to identify and avoid fuel risks and makes it easier to monitor and manage a cleaner, greener fleet," the company said in the statement.
"Tailored to meet the needs of operators and suppliers, Bunker Insights tracks expected and actual emissions from the fuels used and provides a transparent account of regulatory compliance and associated risk.
"While maintaining an unalterable running ledger of fuel volumes, content, and deliveries for a given vessel, users can monitor and minimise GHG emissions and the risk of fraud in fuel transactions."
The platform joins an increasingly crowded market in digital services being offered around shipping and bunkering transactions. Shipping companies are increasingly turning to digitalisation to increase fuel efficiency, reduce bunker bills and cut emissions.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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