Ocean Freight Exchange’s free bunker scheduler enters next development stage
Right Bunker, a web-based scheduler bunker delivery optimisation system, created by Singapore-based Ocean Freight Exchange (OFE) is scheduled to enter its next stage of development in January 2019.
It will be initially introduced as a free service for the maritime and bunker industry.
“We have already finished completing the algorithm for Right Bunker while the front and back end systems are both 50% done,” John Hahn, CEO and Co-founder of OFE told Manifold Times.
“The new government grant of minimum SGD $50,000 will be coming in January and we will be working to complete the remaining half of Right Bunker by the end of March in time for an April soft launch.
“We have scheduled the system to be completed before 2020, so this gives us eight more months of testing time to be ready before full deployment.”
Hahn is welcoming up to 10 players to take equity stake in Right Bunker after its April 2019 soft launch, and plans to add up to 10 more from selling the company at a higher valuation from April 2020 to generate revenue for an adoption campaign.
OFE’s Right Bunker scheduler system, which saves both time and revenue for bunkering firms, took the top prize at the PIER71 2018 Smart Port Challenge.
“In a case study, we proved we can increase the number of turns for a bunker tanker by more than 25% while decreasing waiting time by more than 25%,” shares Hahn.
The system takes in all relevant data to produce an optimal schedule for a fleet of bunker tankers and is intelligent enough to advise which delivery requests to accept, which orders to pass on and which ones can be considered if another tanker were added to the fleet.
It also reduces errors of manual data entry, while simultaneously enabling secured data flow.
Related: PIER71 Smart Port Challenge concludes with three winners
Photo credit: Ocean Freight Exchange
Published: 2 January, 2019
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