Estonian bunker trader Arte Bunkering on Tuesday (29 June) said it is using Bunkertech, the energy trading risk management (ETRM) system owned by Inatech, to integrate operations as it expands its global presence.
Arte Bunkering in 2020 added Greece and Singapore to its existing centres in Estonia, Germany and the US.
An extension to Inatech’s Techoil software for managing complex physical oil trading, Bunkertech focuses particularly on the sourcing, sale and delivery of a wide range of bunker fuels for ships.
It gives bunker suppliers flexibility speed and certainty in reacting to the evolving landscape of regulations and new fuels.
Along with full ETRM support, Bunkertech includes enterprise resource planning (ERP) that is seamlessly integrated into a complete management and financial accounting system.
This gives the entire company access to the in-built support necessary for fast and accurate decision-making, even extending to real-time information on credit lines and trading P&Ls which are key to success in bunker trading.
With front-office functions simplified, and back office truly integrated, it also covers all regulatory reporting and complex taxation requirements that are specific to each location.
“We operate in a complex and competitive business environment so we need reliable and adaptable trading tools that function across our network and have the potential to grow with us,” said Seva Tkachenko, Commercial Manager at Arte Bunkering.
“Bunkertech gives us a complete system that is now being used across our offices—and it is scalable as we continue to expand.”
The cloud-based structure combined with Inatech’s 24/7 support services enabled remote implementation even during the Covid-19 pandemic lockdowns.
“Managing trading risks is challenging at any time but has been especially so during the pandemic,” said Alok Sharma, Senior Vice President of Inatech, a unit of Glencore.
“Business resilience is crucial in this environment, so the market, operational and credit risk management capability that is integrated into Bunkertech offers valuable reassurance.”
Photo credit: Bunkertech
Published: 30 June, 2021
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