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
Blending on board offers $40,000 to 90,000 savings per annum on medium to large bore engines.
‘While other shipping markets instantly suffer from the fallout of the coronavirus crisis, the crude oil tanker market has yet to feel the same pain,’ says Chief Shipping Analyst.
A massive storm could limit resupply to Vancouver, and US fuel oil inventories have been drawn to two-year lows.
She is the first vessel in CLdN fleet to be fitted with the system and will return to service from Zeebrugge, Belgium, as from 27 February, says the logistics specialist.
The Gas Agility has the ability to bunker 23,000 TEU container ships, allowing them to sail 19,500 nautical miles covering a round-trip voyage from Europe to the Far East.
Record wide Singapore Hi5 spread amid tight VLSFO; weather disruptions in Chinese ports; supply to improve with refinery back online in Fujairah.
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.
17 Mar 2023
