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Singapore: Minerva Bunkering, rise-x.io set up ADP Clear Pte Ltd

30 Jul 2021

Supplier of marine fuels and bunkering services Minerva Bunkering on Thursday (29 July) announced a new partnership with digital platform developer rise-x.io to establish ADP Clear Pte. Ltd. in Singapore. 

The spin off digital business will combine Minerva’s Advanced Delivery Platform and rise-x.io’s proprietary DIANA Ecosystem Operating Platform (EOP) to enable end-to-end bunkering solutions in a digital ecosystem.

The ADP is an innovative solution comprised of integrated hardware and software designed and developed by Minerva and its technology partner Curl Tech.

Customers using the ADP benefit from visibility into all details of their bunkering operations including quality of fuel delivered, operational timelines, and quantity received as per mass flow meter profiles – all in real-time and viewed from anywhere via the customer portal.it states

“Our partnership with rise-x.io allows us to extend the capabilities of ADP driving end to end digitalization and the resulting visibility and cost savings that reach from the front office to the back office and beyond,” said Minerva CEO Tyler Baron.

rise-x.io is the company behind QuayChain Pte. Ltd., an open access market facing platform designed to facilitate the online sale, purchase, delivery and settlement of marine fuel. 

Established in 2018 QuayChain’s mission is to knit the industry together in a digital ecosystem for added transparency and efficiency across vessel owners and operators, fuel suppliers, terminal operators, regulators, port authorities, trade finance providers, insurance companies and other 3rd party service providers involved in the marine fuel industry.

“With QuayChain Pte. Ltd. we tested early-stage concepts using our blockchain enabled DIANA platform to build out multi-party workflows for autonomous operations,” explains Rowan Fenn, Co-founder and CEO rise-x.io.

“We were looking for a forward-thinking partner, committed to bringing efficiency, trust and transparency to the global marine fuel market, and one who could bring scope and scale to the QuayChain concepts. In Tyler Baron and Minerva, we found that partner,” says Fenn.

QuayChain and the ADP are directly complimentary and through ADP Clear Pte. Ltd. the two companies will integrate both solutions to create one seamless customer experience. The benefits of this new partnership include:

  • Streamlined workflow from fuel purchasing, delivery, and settlement with end-to-end transparency from nomination through settlement;
  • Simplified 1 click purchasing and contract nominations;
  • Real time data analysis, compliance management and reporting to reduce regulatory risk and cost.

Related: Minerva Bunkering deploys Advanced Delivery Platform in Singapore, ARA & Fujairah
Related: Minerva Bunkering introduces carbon neutral marine fuel offering
Related: rise-x.io, DNV GL, NUS embark on project to predict illegal bunker activity
Related: Simulated LNG bunkering blockchain transaction performed at Singapore

 

Photo credit: Minerva Bunkering
Published: 30 July, 2021

 

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