Connect with us

Technology

Claritecs showcases bunker and shipping IT solutions in debut at SIBCON

Offers free one-month trial of vessel Asset Management solutions, which prices Singapore’s bunker tanker fleet.

Admin

Published

on

post 42441

Singapore-based independent maritime technology firm Claritecs Pte Ltd is showcasing several of its bunker and shipping sector solutions at the Singapore International Bunkering Conference and Exhibition (SIBCON).

The Claritecs Auto Scheduling system, mass flowmeter (MFM) Auto Profiling system, and vessel Asset Management solution are products developed to enhance operations of the Singapore bunkering industry, says Claritecs CEO Wong Hong Lee.

“Claritecs was founded by maritime veterans who are passionate about addressing work inefficiencies with technology. We recognise that there are many homegrown small and medium-sized enterprises in the maritime industry who are keen in enhancing their operations by adopting digitisation and data analytics, but have difficulties in setting aside resources to drive the process or unable to gain access to the right expertise who understands their niche business. This is Claritecs’ forte,” says Wong, who is also the Managing Director of Sovereign Shipping Global Pte Ltd.

The Claritecs Auto Scheduling system to optimise bunker operations is a top 18 finalist project at the 2018 Smart Port Challenge organised by PIER71 – an innovation ecosystem for the maritime industry founded by the Maritime and Port Authority of Singapore and NUS Enterprise.  This acceleration programme encourages the maritime industry to venture into new growth areas through collaboration with technology start-ups.

Wong shared that the Auto Scheduling system is able to reduce manual and repetitive work of bunker suppliers by digitalising bunker tanker scheduling.  

It further applies data analytics and machine learning of the bunker suppliers’ fleet, taking into consideration its tank size, type of fuel and quantity carried, to take on additional jobs for maximised fleet utilisation.

“It is about time the bunkering industry progress from using excel worksheets as their scheduling platform, and move to using technology to reduce manual work and increase productivity,” states Wong.

Furthermore, other stakeholders within the bunker supply chain – such as shipping agents of the receiving vessels and oil terminals – will gain oversight of operational schedules affecting their areas of business.

The Claritecs Auto Profiling system for MFMs is an automated tool aimed at supporting users with an analysis of their bunker meter profiles to obtain insights into their bunker operations. It is able to decipher thousands of data points into a concise report which detects abnormalities for further investigation.

“Algorithm driven analysis founded on MFM expertise forms the basis of Claritecs’ Auto Profiling System.  Currently, the manual analysis of MFM raw data and writing of the report would take a few days. Our automated 3 stage analysis provides this in just a minutes on an intuitive dashboard and is easy to use,” notes Wong.

Thirdly, the Claritecs Asset Management solution is a no-frills valuation of 45,000 international vessels, mainly tankers and bulkers, through three levels namely: Historical transactions (level 1); Opinion based (level 2); and Discounted cashflow variables (level 3).

More interestingly, it is backed by a newly developed plug-in which is able to determine the value of each bunker tanker in the Singapore fleet. Manifold Times understands Singapore-registered bunker tankers undergo a different pricing structure from regular oil tankers due to their unique configuration.

“Having one of the largest bunker tanker fleets in the world, Singapore’s bunker tanker valuations are often used as a gauge, to provide an indicative value in the global ship Sale and Purchase market. As this is a very niche sector, accurate valuations are hard to come by but Claritecs has the expertise to formulate such valuations. We trust that users would find this information very useful,” says Wong.

Note: The Claritecs Asset Management solution is available for a one-month free trial period upon enquiry at the Claritecs booth (no.46) at SIBCON.
 

Photo credit: Claritecs
Published: 1 October, 2018

 

Continue Reading

Business

Singapore: DNV FuelBoss and Equatorial Marine Fuel enter digital bunkering MoU

To build digital delivery platforms that are interoperable, compliant to data and security standards set by the MPA and Singapore Standards Council.

Admin

Published

on

By

Singapore DNV FuelBoss and Equatorial Marine Fuel enter digital bunkering MoU cover

FuelBoss, a subsidiary of DNV, and Singapore bunker supplier Equatorial Marine Fuel Management Services (EMF) on Friday (19 April) signed a Memorandum of Understanding (MoU) to further develop digital bunkering capabilities for all marine fuels.

The objective of the MoU is to strengthen the partnership between both organisations to build digital delivery platforms that are interoperable, compliant to data and security standards set by the Maritime and Port Authority of Singapore (MPA) and Singapore Standards Council.

The scope of the MoU allows the development of integrated services across both organisations’ technological platforms to provide seamless operations, real-time insights into bunker delivery processes to industry stakeholders, international shipowners, bunker suppliers, and bunker traders for all marine fuels.

It will also enable the sharing of experience, materials, and expertise between the two organisations with the industry to accelerate the pace of digitalisation and support companies in implementing digital bunkering solutions.

Singapore DNV FuelBoss and Equatorial Marine Fuel enter digital bunkering MoU 1

Singapore DNV FuelBoss and Equatorial Marine Fuel enter digital bunkering MoU

“We are committed to pioneering digital solutions that enhance the safety and trust in marine fuels transactions. This MoU with EMF underscores our dedication to advancing Digital Delivery and Live Delivery Insights in the maritime industry and we are honored to partner with them,” said Martin Wold, Head of FuelBoss.

“By collaboratively developing interoperable platforms that align with the latest data and security standards, we aim to set a new benchmark and replicate this for the rest of the industry.

“Our partnership with EMF will leverage both organisations' strengths to provide comprehensive, real-time insights into bunker delivery processes, benefiting all stakeholders in the maritime ecosystem.”

EMF is the leading supplier of marine fuels in Singapore in 2022 and 2023. As part of their growth strategy, EMF has been investing in digitally transforming the business and operations since 2018.

Over the years, EMF has integrated several of their systems to streamline operations and has built an in-house technology team to customise solutions to better serve their customers and stakeholders.

“We have always believed that digitalisation is one of the keys to the future for the Maritime industry. Over the years, we have participated in and supported the digital initiatives launched by MPA,” said Collin Ng, Chief Technology Officer of EMF.

“The digital bunkering initiative launched by MPA on 1 November 2023 is core to completing the digitalisation of the bunker supply chain for the industry.

“With the signing of the MoU with FuelBoss, we are looking forward to providing an extensive and comprehensive digital delivery platform for our collective customers and stakeholders.”

 

Photo credit: DNV FuelBoss
Published: 19 April 2024

Continue Reading

Business

Singapore: Bunker firm Sea Hub Energy to be wound up voluntarily

Development comes following directors, Lim and Ang, lodging a SD stating the firm cannot continue its business due to liabilities; Ang was sentenced a 35-month imprisonment in 2021 for MFM systems tampering.

Admin

Published

on

By

RESIZED Sea Hub Energy

Sea Hub Energy Pte Ltd (Sea Hub), a company formerly in the business of chartering and trading of marine fuels at Singapore port, will be wound up as a Creditors’ Voluntary Winding Up, according to a Government Gazette notice published on Monday (15 April).

This came following an Extraordinary General Meeting held on 5 April.

The Special Resolution set out below were duly passed:

  • That the company be wound up as a Creditors’ Voluntary Winding Up pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 and that Tan Wei Cheong and Lim Loo Khoon, both care of Deloitte & Touche LLP, 6 Shenton Way, OUE Downtown 2, #33-00 Singapore 068809, be appointed as the Joint and Several Liquidators (the Liquidators) for the purpose of the winding up.
  • That the Liquidators be at liberty to exercise all or any of the powers conferred on them pursuant to the Insolvency, Restructuring and Dissolution Act 2018.

Manifold Times previously reported directors of Sea Hub lodging a statutory declaration (SD) stating that the company cannot continue its business due to its liabilities.

In the SD lodged on 5 March, the directors, Lim Seet Huat and Ang Heng Lye, said the meetings of the company and its creditors have been summoned for 5 April 2024, being a date within one month of the date of the SD.

In June 2021, the State Courts of the Republic of Singapore issued Ang a 35-month imprisonment sentence, due to his role in a conspiracy to tamper with the mass flow metering (MFM) systems on board Singapore bunker tankers Southernpec 6 and Southernpec 7 between October 2018 to April 2019.

During the period of offence, Ang was employed as a consultant at Ocean Express Pte Ltd; around June 2018, Ang was acting as a consultant and partner of Success Energy Service Pte Ltd.

Lim, who founded Sea Hub in 2007, is a 70% shareholder of the company where he also works as its Shipping Director overseeing vessel management and chartering operations; the remaining 30% shareholding of the firm belongs to Trading Director Ang.

Related: Singapore: First creditors meeting scheduled for bunker firm Sea Hub Energy
Related: Singapore: Directors of troubled Sea Hub Energy declare inability to continue business
Related: Magnets on MFMs: Trial ends with 35-month imprisonment sentence for Director of Seahub Energy
Related: Singapore: Imprisonment of Sea Hub Energy Director ‘unrelated to company integrity’, says majority shareholder
Related: Sea Hub Energy seeks US$12 million from Southernpec at Singapore High Court
Related: Singapore: Sea Hub Energy exits MPA bunker craft operator list
Related: OFAC adds Singapore-registered “Sea Tanker II” to sanctions list

 

Photo credit: Manifold Times
Published: 19 April 2024

Continue Reading

Mass Flowmeter

TFG Marine and Endress+Hauser to install MFM on bunkering vessel in Mauritius

Bunkering vessel “MT Hakkasan” will be the first of TFG Marine-GRM joint-venture’s bunkering vessels in the region to be fitted with a fully calibrated and ISO22192 compliant MFM.

Admin

Published

on

By

TFG Marine and Endress+Hauser to install MFM on bunkering vessel in Mauritius

Global marine fuel supply and procurement firm TFG Marine on Monday (15 April) said its technical team joined Swiss-based mass flow meter manufacturers Endress+Hauser Group in Port Louis, Mauritius.

They carried out preparatory inspection works on the MT Hakkasan, the first of TFG Marine-GRM (Group Roland Maurel) joint-venture’s bunkering vessels in the region to be fitted with a fully calibrated and ISO22192 compliant MFM.

Bunkering vessel “MT Hakkansan”

Bunkering vessel “MT Hakkasan”

While in Port Louis, TFG Marine delegation also met with local shipyards to discuss the technical specifications necessary for the installation of MFMs on additional barges.

“(This) underscores our commitment to expanding the application of this cutting-edge technology across our operations in the region - and to help pave the way for others to follow suit,” it said in a social media post.

 

Photo credit: TFG Marine
Published: 19 April 2024

Continue Reading
Advertisement
  • v4Helmsman Gif Banner 01
  • SBF2
  • RE 05 Lighthouse GIF
  • Consort advertisement v2
  • Aderco advert 400x330 1
  • EMF banner 400x330 slogan

OUR INDUSTRY PARTNERS

  • Singfar advertisement final
  • Triton Bunkering advertisement v2
  • HL 2022 adv v1
  • 102Meth Logo GIF copy


  • Auramarine 01
  • endress
  • intrasea
  • Uni Fuels logo advertisement white background
  • 300 300
  • E Marine logo
  • Central Star logo
  • Kenoil
  • Golden Island logo square
  • CNC Logo Rev Manifold Times
  • Headway Manifold
  • 400x330 v2 copy
  • Advert Shipping Manifold resized1
  • VPS 2021 advertisement

Trending