New alliance will provide shipowners and operators with real-time price, location and availability data to reveal cost-effective bunker options.
i4 Insight, creators of a platform that provides a single point of access for multiple data streams and applications offering a holistic view of fleet operations, has formed an alliance with BunkerEx to incorporate optimised bunker planning data into the i4 Insight platform.
The addition of BunkerEx to the i4 Insight platform will further help shipowners and operators realise greater voyage and operational efficiency and improved fleet performance. It follows the recent acquisition of C-MAP commercial and partnership agreements between i4 Insight and other maritime players including Greensteam, FNT and Laros.
With bunkers being one of the largest costs associated with a voyage, making the right choice about where to bunker is critical. The BunkerEx data provides the optimal recommendation using real-time, accurate price data, while identifying fuel availability and pricing for each location. The technology processes thousands of potential bunker options in seconds and combines that with distances and live pricing information to reveal the most cost-effective bunker option. In addition, BunkerEx data lists any surprise charges, such as barge fees, calling costs and port charges.
“Access to fast, transparent bunker information is vital for ship operators to make optimal decisions. By collaborating with other maritime platforms, we can greatly improve the customer experience and grow with our partners. This alliance with i4 Insight is further proof of that and demonstrates the benefits of collaboration,” said Ishaan Hemnani, co-founder of BunkerEx.
“We know fuel costs take up a large percentage of a ship’s operating costs,” said Joel Meltzner, i4 Insight Chief Executive Officer. “We have formed an alliance with BunkerEx to obtain live pricing data and fuel availability from ports around the world to be incorporated into our platform. We’re excited to bring more new products to the market very soon.”
This announcment is underpinned by Lloyd’s Register's digital strategy that focuses on delivering tangible benefits to its customers and partners, helping them to drive positive business outcomes through the safe and appropriate adoption of new technologies. The addition of BunkerEx to the i4 Insight platform will deliver true competitive advantage to shipowners and operators by ensuring they pay the best price in the best location for their operations.