Rotterdam, Antwerp and Hamburg bunker supplier Trefoil on Tuesday (11 February) said it has authorised Inatech, a provider of Cloud ETRM & Fuel Management Software, to overhaul its management systems in the face of new Customs rules that further complicate the region’s bunker business after IMO 2020.
Post IMO 2020, the speed of business and the scale of risk has gone up. Quicker decision making on market risk management and better operational planning to cope with changing demand is required. To add to this potent mix, new customs regulations in the Amsterdam, Rotterdam and Hamburg region demand a more robust audit trail of product movement.
“This double whammy of market risk and regulatory risk has prompted Trefoil to rethink our entire operating system and to invest in maximizing our efficiency in dealing with these challenges,” says Max Braams, Strategic Project Manager at Trefoil in Rotterdam.
“This also allowed us to consolidate all of our IT systems onto one platform as Inatech is not only supporting a CTRM but a fully integrated solution from front to back office including ERP and accounting. We are looking forward to a new era that will reduce our manual work and error-proneness significantly.”
Trefoil assigned Inatech to deploy its end-to-end bunker management system, Bunkertech. It saves time and cost for Trefoil’s operations while supporting rapid decision-making in a more complex environment by providing a holistic view of operations across trading, credit, cash flow and inventory together with real-time information about products, prices and availability, and P&L.
The new Customs rules have a material impact on operational planning and ultimately the cost structure. With a wider range of fuels available and strict compliance procedures, it has become critical for bunker suppliers to have systems in place that track the molecule.
“The new Dutch regulations coupled with IMO 2020 have undoubtedly increased all kinds of risks – price risk, operational risk, market risk, product risk and financial risk,” said Alok Sharma, Senior Vice President at Inatech in London.
“Bunkertech, a part of our Techoil oil trading platform, is one of the few cloud based end-to-end systems which can help the business manage risks and ultimately maximise gross profit per ton.”
Photo credit: Trefoil
Published: 14 February, 2020
Sold 56,000 mt of marine fuel in 2018, lower compared to marine fuel sales of 62,000 mt in 2017.
Initial goal is to procure bunker fuel for Cargill and Maersk Tankers’ combined fleet, while aiming to attract additional customers in the coming months.
MSC’s container ship Santa Vanessa received 1,000 metric tonnes of bunker fuel in this trial operation that aims to elevate China’s marine services sector.
Forms JV firm with Guangzhou Shipyard International and ME Production to manufacture scrubbers.
Singapore’s old law firm Dentons Rodyk offers commentary on the judicial corporate rescue mechanism provided to creditors of Hin Leong Trading and Zenrock Commodities.
Glencore, Vitol, Trafigura in around 160 deals for fuel oil, vacuum gas oil, bunker fuel and asphalt.
The Bunkerchain Pte Ltd and Helmsman LLC sponsored event will be moderated by Gabian Chew, Senior Editor of Singapore bunkering publication Manifold Times.
No quarantine required if vessels have not called at Brazil, India, Nepal, Pakistan, the Philippines and South Africa during the 21 days prior to arrival at Hong Kong port, according to Marine Department notice.
CCIC discuss the progression of MFM technology for bunkering at Singapore port with Manifold Times; and possible development of a primary facility for MFM calibration.
‘The acquisition of PGI Industries will enhance VPS’ preventative maintenance services offered to the power sector, increasing protection and sustainability of the asset,’ says Malcolm Cooper, CEO, VPS.
A foreign vessel was involved in an alleged unauthorised STS incident with bunker tanker Pearl Melody on 5 June, Director and General Manager of Consort Bunkers tells Manifold Times.
There are few critical questions needed to be answered by the industry, finds authors of the Nanyang Technological University funded study Bio-LNG – Its Role in Shipping Decarbonisation.
14 Jun 2021
