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AuctionConnect: Buyers must embrace online auction technology to reduce bunker costs

Bunker buyers can utilise bunkering procurement technologies that simplify the complexities of traditional price negotiation, increase transparency and reduce the cost of procurement, says firm.

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AuctionConnect: Buyers must embrace online auction technology to reduce bunker costs

Reducing the cost of fuel ‘at source’ needs to be included and considered as the first part of the optimisation process to mitigate against rising fuel costs, said AuctionConnect, an online auction platform for bunker procurement within the shipping industry, on Monday (7 October). 

This is even more important given the significant increase in the cost of future fuels that will drive the energy transition and enable the shipping industry to meet its decarbonisation targets. 

Most procurement departments purchase marine fuels via brokers, traders or direct with suppliers. However, there is also the opportunity to utilise bunkering procurement technologies, available today and free-to-use, that simplify the complexities of traditional price negotiation, increase transparency and reduce the cost of procurement by always ensuring that fuel buyers get the best possible price. 

Platforms like AuctionConnect enable buyers to invite multiple fuel suppliers to bid against each other in reverse auctions and drive bunker fuel prices down below Platts’ rates. Buyers can make substantial savings on each tonne of fuel they purchase, depending on the circumstances in the market and the specific bunkering port.

With future fuels being a key element of meeting the shipping industry’s decarbonisation targets by 2050, there is increasing concern in the market of the high cost of these fuels, which could be as much as five times more expensive in 2030 than fossil fuels. This could become a significant barrier to their development and uptake and impact the meeting of shipping’s sustainability ambitions. 

Many vessel owners’ immediate response to this challenge is to invest in clean technology and efficiency solutions. While they are an important part of the decarbonisation process and in reducing fuel costs, they are also a significant capital investment on top of the increased costs of future fuels. Online auctions offer an easy and low-cost way for buyers to reduce fuel bills even before they consider the hardware or technology to improve energy and fuel efficiency. 

Per Funch-Nielsen, Director, AuctionConnect, said: “Ship owners and operators are already familiar with the importance of using clean technology to reduce fuel consumption to mitigate against rising fuel costs, particularly in a future fuels’ world, 

“Purchasing departments within these organisations now need to change their mindset in relation to fuel procurement and seize the opportunity of reducing the cost of fuel at source, which they should view as the first part of the vessel optimisation process. While the traditional elements of bunkering will always exist in the relationship between buyers and suppliers, the opportunities of digitalising and using technology for transactions are huge in creating efficiencies, transparency and reducing costs.” 

AuctionConnect analysed 1.3 million tonnes fixed on the platform across a range of global ports over an 18-month period against a Platts benchmark, identifying total cost savings of USD 7 per tonne. In a future fuels’ world, this opportunity for cost saving is greater and even more important with the rising costs of fuel.

Funch-Nielsen concludes: “With fuel already the major constituent part of an owner’s operational costs, it is clear that any reduction in these bills is commercially critical, no matter the fuel being used. With fuel costs only rising over the coming years in line with the energy transition, reducing fuel costs, by stripping complexity out of price negotiations and increasing their transparency will be of huge value to owners and operators in an increasingly complex supply chain.”

 

Photo credit: AuctionConnect
Published: 8 October, 2024

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Emissions reporting

ZeroNorth and Veracity by DNV launch end-to-end emissions reporting, verification service

New offering combines ZeroNorth’s Vessel Reporting and Emissions Analytics platform with Veracity platform and DNV’s Emissions Connect verification services to deliver an end-to-end compliance solution.

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ZeroNorth and Veracity by DNV launch end-to-end emissions reporting, verification service

Maritime technology solutions provider ZeroNorth on Friday (16 May) said it has partnered with Veracity by DNV to launch a fully integrated emissions reporting and verification service for the maritime industry. 

Teekay is the first customer that will be implementing the service across its fleet, following successful testing and development.

As regulatory requirements tighten, ZeroNorth said maritime operators face growing demands for emissions transparency and reporting integrity. At the same time, poor data quality remains an industry-wide challenge. 

“The new offering combines ZeroNorth’s Vessel Reporting and Emissions Analytics platform with the Veracity platform and DNV’s Emissions Connect verification services to deliver an end-to-end compliance solution,” the company said in a statement. 

“The offering simplifies compliance by integrating automated data reporting with expert validation, reducing administrative burdens and improving data reliability.”

A key differentiator is the multi-layered data quality feedback loop, which ensures emissions data undergoes rigorous validation at multiple stages. Verification warnings from Veracity by DNV are automatically flagged to ZeroNorth’s data quality team, which then works directly with vessel crews to resolve discrepancies before final submission to authorities. 

This reduces compliance risks and enhances regulatory confidence while supporting continuous monitoring of EU MRV, IMO DCS, CII ratings, EU ETS and FuelEU Maritime compliance.

Teekay, a long-standing customer of ZeroNorth, participated in early testing of the solution and providing operational feedback. Since its successful implementation with Teekay, the service has been rolled out to two additional customers, and further deployments are underway.

Anders Schulze, Chief Operations Officer at ZeroNorth, said: “The maritime industry faces growing pressure to ensure emissions data is not just reported, but verified to the highest standards. Yet fragmented systems and manual processes continue to undermine data quality and increase compliance risk. 

“By combining ZeroNorth’s data and analytics capabilities with Veracity by DNV’s verification expertise, we are directly addressing this challenge. Our goal is to build trust in emissions data and reduce complexity for shipowners and charterers. We’re especially pleased that Teekay, a long-time partner, played a central role in shaping and validating the service.”

Mikkel Skou, Managing Director at Veracity by DNV, said: “At Veracity by DNV, the value of our ecosystem is built on strong partnerships, exemplified by our collaboration with ZeroNorth.

“By integrating trusted data and solutions like ZeroNorth’s Vessel Reporting and Emissions Analytics platform, we create a robust network that supports collaboration and drives sustainable growth in the maritime industry. 

“We look forward to continuing working towards our ambition to deliver trust and connectivity to the industry through this partnership with ZeroNorth.”

Mikkel Seidelin, Chief Commercial Officer at Teekay, said: “Partnering with ZeroNorth improves our ability to navigate complexities seamlessly, leveraging on data and technology to optimise our performance and reduce inefficiencies.

“When we are equipped with verified, end-to-end data, it empowers us as owners towards seamless decision-making, resulting in real sustainable and operational target-achievements.”

 

Photo credit: ZeroNorth
Published: 16 May, 2025

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Business

Shipergy expands global presence with two key hires in Hong Kong and New York

Kingsley Chan joins the company’s operations in Hong Kong, while Michael Bergendorff, who was Managing Director and Partner at The Bunker Firm, takes on a key role in New York.

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Shipergy expands global presence with two key hires in Hong Kong and New York

Tech-driven marine fuel trading company Shipergy on Tuesday (13 May) announced the appointment of two seasoned industry professionals to strengthen its global presence and enhance its service capabilities. 

Kingsley Chan joins the company’s operations in Hong Kong, while Michael Bergendorff takes on a key role in New York, marking significant steps in Shipergy’s ongoing expansion strategy.

“We are delighted to welcome Kingsley and Michael to our growing team,” said Michael Stig Nielsen, CCO of Shipergy. 

“Their extensive industry experience and regional knowledge will be invaluable as we continue to expand our global footprint and deliver exceptional value to our clients across key maritime hubs.”

Bergendorff has over 17 years of experience in the shipping, logistics, and bunkering industry to Shipergy. Most recently serving as Managing Director and Partner at The Bunker Firm, where he oversaw operations in the Americas and APAC regions, Bergendorff’s expertise in developing effective strategies that optimize operations and enhance customer satisfaction aligns perfectly with Shipergy’s client-focused approach.

Chan joins Shipergy with 20 years in sales, account management, and business development. Previously a Bunker Trader at Baseblue, Shipergy said Chan’s experience in the Hong Kong market and understanding of marine products and services will strengthen the company’s presence in the Asian region.

The company has its proprietary technology platform, The Wave, which uses real-time data, AI, and machine learning to provide visibility into fuel quality, availability, and decarbonisation potential.

 

Photo credit: Shipergy
Published: 13 May, 2025

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Technology

Endress+Hauser and Bunkerchain prepared for end-to-end digital transactions of e-BDN integration ops in 2025

Entities showcased their complete solution to delegates during the 23rd Singapore International Bunkering Conference and Exhibition.

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E+H eBDN

Swiss-based mass flowmeter (MFM) manufacturer Endress+Hauser and digital bunkering solutions provider Bunkerchain is preparing their systems in advance for seamless digital bunkering transactions of the Maritime and Port Authority of Singapore (MPA)’s pioneering electronic bunker delivery note (e-BDN) project, learned Manifold Times.

During the 23rd Singapore International Bunkering Conference and Exhibition (SIBCON 2024), spokesmen from Endress+Hauser and Bunkerchain explained to delegates how their systems work in unison to prepare for the upgrade.

“At SIBCON 2024, we showed our digital bunkering solution together with Bunkerchain, one of our partners for e-BDN,” said Mohamed Abdenbi, Global Business Manager Solutions, Endress+Hauser.

“As soon as a bunker operation is completed, our MFM system automatically transmits ticket data to the bunker app of Bunkerchain for e-BDN documentation.

“With this set up we are ready to support end-to-end digital transactions of e-BDN in Singapore.”

According to Mr Abdenbi, full digitalisation of e-BDN implementation at Singapore port will further significantly increase the efficiency to the republic’s bunker industry due to automation and the likelihood of wrong data filled into bunker checklists being reduced to a minimum.

“Data can be easily shared between the different parties to make daily workflows more efficient. This will have a positive effect on productivity of the bunker industry,” he explained.

“We can confirm this when looking at our own Endress+Hauser paperless production processes and the response of our customers who make use of our Netilion* cloud offering.

“Inconsistent data along the different system components would raise questions and doubts.

“Therefore, we believe it is of great importances the MFM vendor offers a complete and interoperable system for data transmission to ensure necessary integrity of data to make life easy for MFM users and authorities by having a central contact.”

FMS Digital Bunkering Solution 03c page 0001

Leon Ling, CEO of Bunkerchain, echoed Mr Abdenbi’s thoughts.

“At SIBCON 2024, Bunkerchain showcased direct connectivity between Endress+Hauser’s MFM system and our e-BDN solution,” he shared.

“This setup enabled seamless data transfer from the MFM to our e-BDN system onboard vessels, even without internet connectivity. This innovation ensures critical bunker data is securely captured and processed in real-time, paving the way for full digitalisation of e-BDN implementation at Singapore port in 2025.”

Use of MFMs, combined with solutions such as e-BDN, streamline workflows by automating data capture to reduce manual errors for secured real-time data sharing among stakeholders, he noted.

These advancements enhance operational accuracy, improve compliance, and establish a robust framework for efficient and sustainable bunker operations.

Global Energy Trading Pte Ltd (GET), the trading arm of Singapore bunker supplier Global Energy Group, earlier announced the successful implementation of Bunkerchain’s e-BDN system.

During Singapore Maritime Week 2024, Bunkerchain signed a Memorandum of Understanding (MoU) with S&P Global Market Intelligence and MPA to pilot the use of digital ship identity in the republic.

*Netilion is a cloud-based IIoT ecosystem designed by Endress+Hauser for industrial processes. It connects the physical and digital worlds to send information from the field straight to the user’s phone, tablet or other device. 

Related: Global Energy Trading selects Bunkerchain e-BDN solution in Singapore
Related: SMW 2024: MPA partners with S&P Global and Bunkerchain in digital ship identity

 

Photo credit: Endress+Hauser
Published: 13 May, 2025

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