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Maersk Tankers launches standalone digital business product SimBunker

08 Jan 2020

Global energy trader Maersk Tankers on Tuesday (7 January) launched a standalone digital business to reduce CO2 emission and optimise vessels’ earnings across the tramp shipping industry:

The as-yet-unnamed business will develop and sell the software product SimBunker to vessel owners and managers in the tramp shipping industry to help them use their vessels more efficiently.

SimBunker optimises vessels’ bunker spend, which can account for up to 60% of the total voyage costs, by determining optimal solutions for factors such as speed, bunker purchase and route.

The software product was developed within Maersk Tankers and will now be spun off into the new digital business, along with its related customer base.

“Through significant and strategic investment, we have established Maersk Tankers as the digital frontrunner in the tanker industry,” said Maersk Tankers CEO Christian M. Ingerslev.

“Digitisation will enhance customer and partner experience, transform our business and contribute to a more efficient operation, benefitting both sustainability and profitability.

“This becomes increasingly important at a time when the shipping industry must adapt to take its share in solving complex challenges posed by climate change and new regulatory requirements.”

When SimBunker is spun off, it will be the sole focus of a dedicated team and management to develop the software product. 

The team will be built around employees from the existing Maersk Tankers Digital team, as well as new employees to be hired.

It will be led by Soren C. Meyer, who is currently Chief Asset Officer of Maersk Tankers. As Chief Executive Officer of the new business, he will, until further notice, report to Ingerslev.

“As a standalone business, we will be able to accelerate this development. We will be working with players across the industry to optimise pool partners’ bunker spend, using large data sets and analytic,” said Maersk Tankers Chief Asset Officer Soren C. Meyer.

When Meyer takes on the Chief Executive Officer role, effective 7 January 2020, he will leave his position at Maersk Tankers and the Leadership Team.

Peter Schroder, Chief Digital Officer, will continue to lead this and the digital transformation of Maersk Tankers, which is a core component of the tanker company’s business strategy ‘Shaping the Future’. Owing to the strategic importance of this work, he will now report directly to Ingerslev.

Schroder and his team, among other initiatives, will be working in close partnership with CargoMetrics Technologies, with which Maersk Tankers entered an equity agreement in 2017. 

“The priority will be given to products that lower CO2 emissions, increase earnings for partners and make it easier for them to do business with us, as well as to products that increase our ability to meet customer demand by having vessels in the right position at the right time,” says Schroder.

Related: Cargill, Maersk Tankers, Mitsui & Co. collaborates on GHG emissions reduction

Photo credit: Maersk Tankers
Published: 8 January, 2020

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