The following breaking news was first published by Singapore bunker publication Manifold Times on 1 April, 2019 at 1pm (Singapore time):
Platts Ocean Intelligence, the marine credit risk analysis subsidiary of S&P Global, is scheduled to close operations effective 1 May 2019.
The company, along with Bunkerworld, was part of a Petromedia acquisition by Platts in July 2015 to enhance its bunker portfolio.
“While Platts Ocean Intelligence, covering marine credit risk analysis, does have long-term users, its customer base has declined over recent years,” said Stuart Wood, Vice President Product Development & Management, S&P Global Platts in a letter to customers dated April 1 which Manifold Times obtained.
“For this reason, we have taken the difficult decision to end the Platts Ocean Intelligence service.”
Account managers and other members of the Platts team will be in contact with customers in due course.
“We sincerely appreciate your support and regret any inconvenience this necessary action causes you,” said Wood.
Published: 1 April, 2019
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