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
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