Inatech, a provider of Cloud ETRM & Fuel Management Software, has launched a new version of its Shiptech bunker fuel management system, ShiptechLite, catered for small- to mid-size shipping companies recovering from Covid-19 related disruptions.
Inatech, a subsidiary of Glencore, notes that smaller shipping firms with less than 40 vessels command a significant market segment of more than 2,500 ships.
Unlike larger companies, these operators often lack options to weather a crisis, such as keeping ships in storage, and typically have lower cash buffers and resilience.
“While addressing the needs of smaller shipping firms today, ShiptechLite is an affordable and permanent product offering,” said Alok Sharma, Senior Vice President at Inatech in London.
“We have collaborated closely with smaller shipping companies to match the product very closely to their differing needs at a price point that suits their business models.”
ShiptechLite is a decision support tool that focuses on the bunker procurement process, explained Inatech.
It automates the entire Request for Quotation (RFQ) process at a glance, managing everything from creating and sending out requests to conducting multiple stakeholder negotiations, and finally to stemming the order.
Inatech notes that it also has a powerful negotiation tool which makes port recommendations, and analyses the tactics of suppliers based on previous orders to make choosing the best deal easier.
Other tools include vessel position tracking and access to marine fuel pricing data in over 200 global bunkering ports from Ship & Bunker.
ShiptechLite supports multiple product types and all new fuels including HSFO, LSFO, VLSFO (0.5%), ULSFO (0.1%), IFO, LNG, sludge and additives.
All of this is achieved within a cloud-based system, imposing no hardware or maintenance costs and incorporating strong disaster recovery protocols.
“It will help these companies weather this storm and will put wind in their sails as they navigate the calmer waters that will follow,” concluded Sharma.
A free trial is available for booking here.
Photo credit: Inatech
Published: 17 September, 2020
Seemingly quick fixes, such as speed reductions, do not incentivize technical progress and switch to new technologies.
EMF Director identifies some reversible and irreversible industry trends due to Covid-19, and shares its strategy to establish trust among stakeholders.
Concept chooses fuels produced from cooking oils and forest residues to enable 90% reduction of CO2 emissions when compared to conventional fuels.
The aim of implementing the license is to also promote transparency and reduce dispute cases as seen in the ports of Singapore and Gibraltar, said the port authority.
Discusses business operations, potential debt reorganisation and winding up petitions, and financial review.
Exponent and Innospec advice on new complaint fuels characteristics and how vessels can prepare for them.
Program introduces periodic assessments, mass flow metering data analysis, and regular training for relevant key personnel to better handle the MFMS to ensure a high level of continuous operational competency.
U.S. Claims Register Summary recorded a total USD 833 million claim from a total 180 creditors against O.W. Bunker USA, according to the creditor list seen by Singapore bunkering publication Manifold Times.
Glencore purchased fuel through Straits Pinnacle which contracted supply from Unicious Energy. Contaminated HSFO was loaded at Khor Fakkan port and shipped to a FSU in Tanjong Pelepas, Malaysia to be further blended.
Individuals were employees of surveying companies engaged by Shell to inspect the volume of oil loaded onto the vessels which Shell supplied oil to; they allegedly accepted bribes totalling at least USD 213,000.
MPA preliminary investigations revealed that the affected marine fuel was supplied by Glencore Singapore Pte Ltd who later sold part of the same cargo to PetroChina International (Singapore) Pte Ltd.
‘MPA had immediately contacted the relevant bunker suppliers to take necessary steps to ensure that the relevant batch of fuel was no longer supplied. Further investigations are currently on-going,’ it informs.
