Global provider of trading, analytics, and risk management solutions for commodities and treasury management, ION Commodities on Thursday (22 October) announced GCC Bunkers has selected its ION Aspect CTRM (Commodities Trading Risk Management) solution to manage its complex physical oil and fuel business.
Aspect, the leading multi-tenant SaaS CTRM solution, was selected for its extensive capabilities in the bunker fuels market, its quick implementation period, and its ability to adapt to changing international marine fuel regulations, said ION.
GCC Bunkers is a supplier of marine fuel focused on supplying low-sulphur fuel as well as all other standard specification marine fuels and distillates to ship owners and operators calling on the Houston and Galveston ports, including Texas International Terminals.
GCC Bunkers previously relied on a legacy platform but needed a robust, easy-to-deploy solution to manage its increasingly complex operations, and the necessary unit conversions for various individual contracts with international customers, explained ION.
“GCC Bunkers is on the forefront of responding to changing international regulations impacting ship owners and operators. We needed a fully functional solution to not only support today’s requirements, but also have the ability to add new functionality quickly and adapt as requirements are updated,” said Zach Stansbury, GCC Bunkers Commercial Director.
“GCC Bunkers selected Aspect’s SaaS trade and risk management solution for its rapid deployment and immediate ability to support our front, middle, and back offices.”
ION noted that Aspect is the leading multi-tenant SaaS commodity trading and risk management solution with integrated market data that is delivered in short implementation periods.
It’s an out-of-the box CTRM solution that is fully configurable to support the trade life cycle of bunker fuels, crude and refined products, metals, petrochemicals, and LPG/chemicals companies.
“Aspect is ideal for small and medium-sized commodity businesses that require a fully functional, easy-to-implement CTRM solution. This includes bunker fuel suppliers that are adapting their operations to changing international regulations,” said Rich Grossi, ION Corporates Chief Executive Officer.
“I’m pleased to welcome GCC Bunkers to the ION market-leading CTRM community.”
Photo credit: ION commodities
Published: 23 October, 2020
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