Our Applications
Help you manage, optimise your bunker fuel Management
strategy and meet ECA regulations

Procurement
Procurement Challenges
The main challenges in the fuel procurement process by a bunkering company are
  • Need for comprehensive information on deals
  • Capturing all the transactions pertaining to a deal efficiently
  • Reducing the cost of procurement year on year
  • Ensuring that on spec fuel is delivered to the vessels in a timely and effective manner
  • Getting maximum value from spot or contract deals
  • Selecting the best suppliers and port/product combinations
This Application Helps
Manage the entire purchase cycle from requisition to fulfillment and optimize business functions across all levels through the integration of technology, data and people-centric processes.
Features
  • Procurement: request management, RFQ management, order management, offers management
  • Delivery: delivery management and quantity reconciliation records the quantity of deliveries made and help in efficient quality/quantity reconciliation
  • Lab: automate lab processes and quality reconciliation evaluate the quality of the fuel purchased and if it is compliant with industry standards
  • Claim: claim management, time bar management and claim settlement automate your entire claims cycle and record, tracks, analyses and retrieves quality, quantity and demurrage claims, effortlessly
  • Recon: price reconciliation, cost management and approve payments reconcile the order value with supplier invoice to approve further payment processing
Benefits
  • Optimise request quantity through shore – vessel communication, automate RFQ processes, maximise negotiation efficiency
  • Automate quantity reconciliation, calculate quantity adjustments, alert on quantity discrepancy, track barge and supplier performance
  • Integrate with major labs, track and alert on supplier performance, compatible to ISO bunker standards, help in being compliant with regulations
  • Manage the complete life cycle of claims, automate alerts on discrepancy of quantity and quality, maximize negotiation of disputes
  • Avoid human errors in validating supplier invoices, automate approval process, hold and part payments




ECA Compliance
ECA Compliance Challenges
With ECA regulations enforcement around the corner , fuel procurement managers need to have the fuel switch time date and time recorded in their software systems for auditability purposes. Companies will be changing terms of their bunker purchase contracts .Fuel purchase costs and strategies, consumption and route optimisation will become top of the agenda for vessel operators. There are greater chances of increased claims. All these call for documentation, data capture , reporting and management by bunker procurement department to be in continuous compliance.
This Application Helps
Track, alert and optimise vessels while they trade in and out of ECA zones
Features
  • Built-in rules engine which captures information about
    • Voyage
    • Fuel purchase – quantity (BDN) and quality (Lab)
    • Presence of equipment on board – scrubber (on/off)
    • Geo-location of vessel
    • Fuel switch time and date
  • Generate continuous compliance reports, alerts and a compliance indicator either on demand or at scheduled intervals
  • Benefits
    • Achieving continuous compliance: through continuous recording of a specified activity capturing a pre-defined number of relevant parameters in a sequential order as prescribed by the regulation
    • Shiptech ensures auditability, traceability and reporting of compliance
    Contract
    Contracts management challenges
    As a bunker fuel procurement manager you would want to
    • Avoid costly errors while dealing with Term contracts and Formula pricing
    • Tailor make contracts using diverse formulas and market instruments
    • Save valuable time in switching between excel sheets to manage Term contracts
    This Application Helps
    Manage the negotiated terms and conditions, pricing rules, quantity agreements of term contract.
    Features
    • Term contract management
    • Complex pricing rules
    • Contract performance
    Benefits
    • Evaluate the pricing rules and provide the latest contract’s market price
    • Nominate an order from the contract v/s spot market
    • Manage the available quantities and renewal of contracts




    Optimizer
    Challenges
    New regulations, rising fuel costs and stricter emissions controls mean that the shipping industry needs to find new ways to optimise costs in order to increase profitability. Research by Inatech reveals that fuel procurement optimisation is influenced by more than 120 parameters. Price, quality of the fuel, demand, distance between ports, supplier performance, history of claims, market volatility and the ability to deliver are just a few of the items that need to be optimised to enable maximum savings.
    This Application Helps
    Optimise your bunker fuel procurement through advanced, real-time analysis. Optimizer takes the guesswork out of your fuel purchasing decisions and can be sold as a stand-alone solution or as part of the Shiptech fuel procurement portfolio.
    Features
  • Suggest best ports to bunker
  • Optimal quantity to bunker
  • Benefits
    • Take the guess work out of fuel procurement
    • Reduce the capital expenditure
    • Receive a bunker buying plan over a 'planning horizon', typically about a three week period to tie in with supplier price indications"
    • Reduce the lost profit
    • Save fuel costs
    Analytics
    Real-time analysis Challenges

    Fuel procurement is a process which involves multiple stakeholders such as sellers, physical suppliers, buyers, agents, brokers, vessels, operators etc

    Understanding your performance in relation to each of these entities can be challenging. Analytical reports which can show insightful reports on price history, trends, price with interactive visualization aid better negotiation.

    P&L reports against market benchmarks are required to support decision making. Adherence to Compliance requires procurement departments to generate lot of reports from operational data for the review of compliance authorities
    This Application Helps
    The analytics application gives the most comprehensive view of your fuel procurement operations in one, easy to access location.
    Features
    • Interactive dashboards
    • Drill down reports
    • Ad-hoc reporting capabilities
    Benefits
    • Provide detailed analysis for the strategic, tactical and operational workforce
    • Turn data into action-orientated knowledge
    • Provide operational intelligence reporting


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