Freight Investor Services (FIS) and Engine Technologies (ENGINE) on Wednesday (12 May) announced a new data sharing partnership, bringing together their respective expertise on bunker futures and physical markets.
The partnership, due to go live 17th May, will see physical and future derivative prices on fuel oil products available on both the FIS Live and ENGINE platforms.
As part of the agreement, FIS will be providing real time pricing on the main future contracts for Singapore and Rotterdam Very Low Sulphur Fuel Oil (VLSFO) as well as High Sulphur Fuel Oil (HSFO) prices, plus their gasoil 10ppm equivalents for the ENGINE platform.
In return, ENGINE’s physical pricing for HSFO, VLSFO and LSMGO fuel oil in Rotterdam, Singapore, Houston and Fujairah will now be available on FIS Live. In addition, both companies will be aiming to share market intelligence and analysis content across both platforms.
FIS Live is Freight Investor Services’ commodity derivative app offering pricing on freight and bulk commodities such as Dry FFAs, Container Freight, Bunkers, Iron Ore and Fertilisers. FIS Live goes beyond other platforms by offered a complete holistic view of the commodity complex.
“It’s been a true pleasure to work with ENGINE, to pair our longstanding expertise on the derivatives market with the world’s most comprehensive platform for marine fuel,” said Kerry Deal, Head of Business Development at FIS.
“This is really a partnership that benefits customers on both sides, allowing full price transparency, physical purchasing, and futures hedging ability across bunker products. This is something we have heard customers request again and again, and with this partnership we’ve delivered on that request.”
ENGINE is a unique technology platform enabling all participants in the bunker space to evaluate, develop and benchmark fuel procurement strategies.
The platform is powered by hundreds of real bunker transactions captured and processed every day, thousands of fuel quality tests, real-time AIS tracking as well as a continuous news flow, that affords customers the best bunker market intelligence in the web browser and on the mobile app.
“We are incredibly excited to announce our partnership with FIS and being able to provide our customers with real time pricing on the main future contracts in the key bunker hubs,” said Ove Munthe-Kaas, Business Development at ENGINE.
“The partnership allows us to build on the transparency that ENGINE brings to the bunker space and which we feel will inevitably benefit the end user. We are building a community of shipowners and suppliers that collaborate and communicate with each other through the platform, and the partnership with FIS is a great addition to this community.”
Published: 14 May, 2021
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