Prosmar Bunkering, a ZeroNorth company, on Wednesday (8 February) announced it has become the new provider of bunker prices for Baltic Exchange, an independent source of maritime market information.
The deal will see Baltic Exchange use Prosmar Bunkering’s bunker price data to calculate Time Charter Equivalents (TCE) for vessels across the global fleet.
Prosmar Bunkering’s organised pool of bunker purchase data is based on actual stems from other companies that have opted in to share their data. This pool of data will support and strengthen Baltic Exchange’s value proposition to their customers, by ensuring they’re able to make accurate TCE calculations.
Ali Jourabchi, CEO, Prosmar Bunkering, said: “We’re delighted to become the new provider of bunker price information for the Baltic Exchange and its prestigious customer base. Bunker price information is one of the key metrics around which shipping operates, and having access to accurate and up-to-date information is intrinsic to successful commercial performance. We look forward to supporting Baltic Exchange and having our market-leading data ensure more accurate calculations for their customers.”
Isabella Kurek Smith, Channel Partners Lead, Baltic Exchange, added: “By having Prosmar Bunkering support us with end-of-day data, to underpin our TCE calculations, we are able to create more value for the owners, brokers, charterers and traders who use our assessments. They’re able to make accurate, trustworthy calculations, and improve the foundation for commercially sound decision-making.”
Manifold Times previously reported technology company ZeroNorth announcing it has acquired Prosmar Bunkering. The acquisition was aimed to accelerate digitalisation and transparency in the bunker industry and further support the decarbonisation transition within the marine value chain.
The deal saw ZeroNorth acquiring Prosmar’s Bunker Dashboard solution and Bunker Pricer module, which will operate under the name Prosmar Bunkering. Prosmar’s two other services, Prosmar Risk and Prosmar Price Matrix, which offer freight risk management services, are not included as part of the deal with ZeroNorth.
Related: ZeroNorth acquires Prosmar Bunker Dashboard solution and Bunker Pricer module
Related: Baltic Exchange: Bunker Report (2 February, 2023)
Related: Baltic Exchange: Bunker Report (26 January, 2023)
Photo credit: Prosmar Bunkering
Published: 9 February, 2023
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