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BLOC’s BunkerTrace solution wins Next Step Challenge trophy

20 Jun 2019

The Danish company BLOC, the creator of BunkerTrace, has won the Next Step Challenge trophy for being the most scalable company within the Scale-Up Denmark centre for Offshore Industry, it says.

BLOC's BunkerTrace solution is a blockchain-based inclusive support system that enhances marine fuel traceability and provides a clear chain of custody for better quality assurance in the bunker fuel supply chain.

With a special focus on UN Sustainable Development Goal #12 ‘responsible production and consumption’ BLOC supports businesses in meeting compliance and legislations for sustainable handling and consumption of bunker oils, encouraging further collaboration throughout the supply chain, and creating more transparency and trust.

The solution allows charterers, ship owners, operators, fuel suppliers and crew to trace the provenance of fuel, both ensuring that it is safe, compliant with the upcoming 2020 sulphur cap, and enabling better tracking and validation of emissions.

A selection board of five business leaders selected the winner from the eight participating scale up companies, who had been selected amongst more than 1,000 companies to participate in the Next Step Challenge business development program.

Having participated in an intensive business development program with industry insiders, the team behind BLOC has gained valuable advice and insight on growing and proving the efficacy of its solution for tracing marine fuels.

“Our BunkerTrace application has now been validated through both the selection board from the finale, and more importantly by the advisory board that followed us through the program,” explained Deanna MacDonald, Co-founder and CEO of BLOC.

“Having insiders from the oil industry sharing knowledge and validating our business means a lot to us.”

The advisory board congratulated BLOC on the achievement: “BLOC is a very interesting company, as they have both identified an issue in the industry and created an innovative and technological solution to it,” said Rasmus Rozentals, Head of Logistics & Support to Operations in Total.

“BLOC has a unique product (BunkerTrace) that we see as a technological ‘game changer' to facilitate more efficient cooperation and more trust within a complex and global bunker industry.

“I am looking forward to experiencing the further developments from BLOC – congratulations!”

Related: BHP, NYK, GoodFuels, BLOC in Rotterdam biofuel bunkering trial
Related: Blockchain bunker fuel assurance system takes next development step
RelatedBLOC hails first blockchain bunker delivery
RelatedBLOC announces bunkering consortium for blockchain
RelatedLloyd’s Register Foundation funds blockchain study

Photo credit: BLOC
Published: 20 June, 2019

 

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