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Marine Fuels 360: Buy-side of bunkering ecosystem keener in digital adoption then supply-side, observes ZeroNorth

Kenneth Juhls believes a recent MPA initiative for eBDN may serve as a catalyst to accelerate maritime digitalisation and decarbonisation at the republic.

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Marine Fuels 360: Buy-side of bunkering ecosystem keener in digital adoption then supply-side, observes ZeroNorth

Bunker buyers of shipowners are more open towards adopting digital technology in their workflow when compared to bunker suppliers, finds the Managing Director for ZeroNorth Bunker of maritime technology platform ZeroNorth.

Kenneth Juhls was amongst panellists in the Bunker Buyers’ Dialogue session at Marine Fuels 360 on Tuesday (28 November) when he responded to a question on shipping’s next data revolution.

“I don't think the shipping industry and the bunker industry is very mature in the adoption of data solution to be blunt,” he said. “However, as mentioned before, I do see a positive movement.”

Juhls, who has been involved a maritime digitalisation working group attended by all sides of the shipping and bunkering sectors, made some observations.

“In my humble view, the buy-side is more digital prone because they see a clear benefit of transparency as they can buy better. There's a clear business case as they need audit trails to support procurement strategies,” he explained.

“But the supply-side tends to be less prone in adopting digital solutions and the ones who are doing that often develop their systems in house.”

Juhls, meanwhile, believed a recent Maritime and Port Authority of Singapore (MPA) initiative for electronic bunker delivery note (eBDN) may serve as a catalyst to accelerate maritime digitalisation and decarbonisation at the republic.

“As you all are aware, MPA has made it mandatory for eBDN to be included as part of Singapore’s bunkering ecosystem by end 2024. There is clear value of getting validated and streamlined data processed through internal systems and regulatory authorities,” he noted.

“Decarbonisation, upcoming regulations, and regulatory reporting will also drive companies to digitalise the maritime ecosystem; otherwise, it's going to be a huge burden for everybody.

“The major players who move fast will get a competitive advantage. So, I think you really need to invest either in house or partner up with someone that has critical mass to really help you on that journey.”

Related: Singapore: MPA publishes guidelines for bunker suppliers in preparation of e-BDN launch

Other related: ZeroNorth enables Golden Island to become Singapore’s first 100% digital bunker supplier
Other related: Singapore: Golden Island switching to 100% e-BDN operations from 1 December
Other related: Photo essay: e-BDN trial of “One Truth” at Singapore port
Other related: Hong Lam Marine ‘fully supportive’ of e-BDN implementation for Singapore bunkering sector
Other related: Singapore set to become first port in the world to debut electronic bunker delivery notes
Other related: ONE completes e-BDN adoption trial with Shell in Port of Singapore

Photo credit: Informa
Published: 4 December 2023

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Digital platform

General Index and XMAR to integrate marine fuel pricing data into trading platform

General Index said the partnership aims to provide XMAR’s users with accurate and timely bunker pricing information, enhancing their decision-making processes in the maritime industry.

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General Index and XMAR to integrate marine fuel pricing data into trading platform

Commodity pricing provider General Index recently announced its partnership with online bunker trading platform XMAR to integrate its marine fuel pricing data into their platform.

General Index said the partnership aims to provide XMAR's users with accurate and timely bunker pricing information, enhancing their decision-making processes in the maritime industry.

“Our comprehensive bunker pricing data covers various fuel types and global ports, ensuring that XMAR's users have access to the most relevant and up-to-date information,” it added. 

By incorporating its data into XMAR's platform, users can benefit from:

  • Real-time Pricing: Stay informed with the latest bunker prices across key ports worldwide.
  • Market Transparency: Gain insights into market trends and price fluctuations to make informed purchasing decisions.
  • Customised Data Feeds: Access tailored data solutions that meet specific operational needs.

This integration will empower maritime professionals to optimise their operations and fuel procurement strategies.

“At General Index, we are committed to delivering high-quality, transparent, and independent pricing data to support the maritime industry's evolving needs.

 

Photo credit: General Index
Published: 7 February, 2025

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Technology

StormGeo voyage optimisation solution to be deployed across G2 Ocean fleet

StormGeo’s Voyage Optimisation solution for G2 Ocean combines features such as onboard voyage planning, routing advisory, speed optimisation, and emissions monitoring and reporting.

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StormGeo voyage optimisation solution to be deployed across G2 Ocean fleet

Voyage optimisation and weather intelligence solutions provider StormGeo on Thursday (6 February) announced the expansion of its partnership with G2 Ocean, as its voyage optimisation solution will be deployed across the company’s fleet of 120 vessels. 

The new agreement builds on the success of a long-term collaboration between the two maritime companies, further solidifying G2 Ocean’s confidence in StormGeo’s ability to support their goals of operational efficiency and decarbonisation.

G2 Ocean has selected StormGeo’s Voyage Optimisation solution, which empowers both shoreside and onboard teams to plan and execute optimised, safe voyages. 

By integrating AI-driven insights, advanced technology, weather analytics, and the expertise of StormGeo’s route analysts and operational support professionals, this solution provides comprehensive, data-driven support at every stage of the voyage. 

As a recognised leader in maritime innovation, G2 Ocean is committed to accelerating their digitalisation and decarbonisation efforts in the coming years, with StormGeo as a trusted partner in driving sustainable growth.

Phil Curran, Director Fleet Operations, at G2 Ocean, said: “The foundation for optimising a sea passage is accurate weather prediction coupled with best-in-class routing advice.”

“StormGeo has been the industry leader in providing weather routing service for 25 years and has added to their expertise a suite of innovative tools to ensure we have the most accurate data and decision-making capability.”

“We are confident that their applications are the right combination to enable significant cost and emissions reductions on every voyage.”

Petter Andersen, Senior Vice President, Shipping, at StormGeo, said: “The expansion of our partnership with G2 Ocean is a testament to the strong trust and collaboration we've built over the years.”

“G2 Ocean’s confidence in our Voyage Optimisation solution underscores the value we bring to their fleet in supporting both operational efficiency and sustainability goals.”

StormGeo’s Voyage Optimisation solution for G2 Ocean combines features such as onboard voyage planning, routing advisory, speed optimisation, emissions monitoring and reporting, commercial and technical performance optimisation based on High-Frequency sensor data, and advanced APIs.

Related: Resorts World Cruises selects StormGeo bunker planning and procurement solution
Related: StormGeo markets Bunker Management module at Singapore event
Related: StormGeo and FuelBoss in new partnership to support digitalisation of bunker workflow

 

Photo credit: StormGeo
Published: 7 February, 2025

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Financial Result

ZeroNorth achieves first operating profit in Dec with nearly USD 40 mil revenue in 2024

Firm achieved its first month of positive earnings before EBITDA in December 2024, after four and a half years of operations and reached just under USD 40 million in annual recurring revenue for 2024.

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ZeroNorth achieves first operating profit in Dec with nearly USD 40 mil revenue in 2024

Digital bunkering platform solutions provider ZeroNorth on Thursday (30 February) said it achieved its first month of positive earnings before interest, taxes, depreciation, and amortisation (EBITDA) in December 2024, after four and a half years since its launch. 

The firm said the achievement comes on the back of significant growth, with the company reaching just under USD 40 million in annual recurring revenue (ARR) for the year, a 38% increase from 2023.

“This marks an important milestone for ZeroNorth, particularly at a time when rising interest rates have put increasing pressure on startups and scaleups to prioritise financial sustainability over top-line growth. Despite the challenging economic climate, ZeroNorth has managed to balance growth and profitability, showing its ability to adapt to changing financial conditions,” the company said.

Founded in 2020, ZeroNorth has rapidly become a leader in the maritime industry’s digital transformation, helping more than 230 shipping and energy companies navigate the energy transition with solutions that optimise fuel consumption and reduce emissions. 

ZeroNorth has scaled from a team of six to 600 employees across 10 global locations and completed six strategic acquisitions, including joining forces with Singapore-based Alpha Ori Technologies in February 2024. 

Powered by AI-driven technologies developed in-house, the company has built a unified platform with a significant impact on sustainability and efficiency for customers. In 2024 alone, it optimised 72,000 voyage legs by generating 1.5 million routes, reducing more than one million metric tonnes of CO2 emissions.

ZeroNorth expects to achieve positive EBITDA for the full year 2025, while continuing to execute its growth strategy.

Søren Meyer, CEO of ZeroNorth, said: “Achieving operating profit is an important milestone for ZeroNorth and a reflection of the dedication of our team and the trust of our customers. Reaching this point highlights our ability to build a sustainable business model while scaling rapidly.” 

“More importantly, it reflects the critical role of data and technology as the shipping industry tackles the complexities of the energy transition.”

“With this foundation, we are strongly positioned to accelerate our growth, and continue to enable our customers to make informed decisions, boost efficiency and cut emissions.”

Related: ZeroNorth and Singapore-based Alpha Ori Technologies close deal to merge

 

Photo credit: ZeroNorth
Published: 4 February, 2025

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