Crude & refined trading
SHIPTECH
INDUSTRY-LEADING MARINE FUELS PROCUREMENT SYSTEM FOR SHIPPING COMPANIES
Empowering You to Buy the Fuels of the Future at the Best Price
Move from Buying Marine Fuels to Proactive Energy Management
Shiptech is a real-time, complete cloud-based marine fuels procurement and management software designed for all types of operators—dry bulk, cargo, tankers and containers and supports various alternative fuels such as methanol, LNG, hydrogen, ammonia, and more. It is built on modern architecture and equipped with powerful analytics. With Shiptech, you can
Controlling costs during the fuel procurement process
Handle energy management
Manage fleet marine fuels planning
With real-time insights, Shiptech equips you to make informed fuel purchasing decisions based on fuel price, quality, compatibility, and availability. Moreover, it automates and easily manages various functionalities using a modern, integrated workflow. This translates to seamless operations, reduced errors, and effective utilization of time and resources!
Marine Fuels Procurement-Major Roadblocks
With impetus on the decarbonization of marine fuels and the adoption of alternative sources of energy, marine fuel procurement will become more complex with the addition of alternative fuels and port, arbitrage. It has become important to optimize fuel procurement to make it commercially profitable as well as environmentally compliant.
We have introduced Shiptech to help you buy the highest quality marine fuel at the lowest price including LNG, methanol, hydrogen, and ammonia among others. It also helps you get complete insights into your procurement process including
- Who are you buying from and why?
- Where are you buying marine fuels and why?
- How are you buying (spot or contract) and why?
- How do your prices compare to the market?
With Shiptech, we will help get the right answers, eliminating the need for manually coordinating data across multiple systems and departments!
Wondering how to profitably manage the increasing costs of marine fuels?
Want to know how you can expedite informed decision-making with Shiptech?
Decision Support for Bunkering Department & Adjacent Functions
Shiptech consolidates important information for meaning analysis and process improvement.
Benefits for Bunkering Dept.
- Make better buy decisions
- Choose between spot and contract buying
- Improved buying prowess
- Identify KPIs for suppliers
- Avoid last-minute bunkering
- Know claims status—resolved and open
Benefits for Operations, Chartering and Finance Dept.
- Improved control of marine fuels inventory
- Transparency in the procurement process
- Integrated order process with voyage system
- Improved reporting and analysis
- Better payment cycle
- Complete, two-way integration to finance
- Integrated planning order (to cash) cycle
A Proven Solution for Your Business
We have utilized our experience of working along with some of the world’s top shipping companies to identify the real challenges and offer cost-effective, scalable tools that offer complete control over fleet operations.
Technology to transition to cleaner fuels
As you move towards decarbonizing energy, evaluate the calculated carbon aromaticity index (CCAI), price per energy and total cost of ownership (TCO). Get the best offer for each product based on the calorific value. Moreover, easily access energy parameters for advantageous negotiations.
Complete automation
Use Shiptech’s comprehensive range of apps to automate the whole RFQ process—creating a request, handling multiple suppliers, negotiating, placing an order, recording test samples, invoicing and managing claims.
Data-driven decisions
Negotiate with advanced analytics including average price drop and win rate. Manage onboard inventory, and access complete data sets and ready-to-use reports and dashboards. Utilise powerful reporting tools to ensure all decisions are based on the same operational data.
Counterparty and invoice management
Maintain a supplier directory so that you can manage suppliers as well as benchmark them based on price and quality. Easily rate each supplier’s performance through our supplier rating app. Plus, initiate and track claims to resolution, and reconcile orders, deliveries and invoices.
Contract management
Be on top of your deals by providing tailor-made contracts using comprehensive formulas and market instruments. Create and manage fixed and formula price term contracts, auto-calculate formula prices through Shiptech’s price evaluation engine as well as plan contract purchases.
Regulatory compliance
Adopt best practice workflows and robust auditing systems to manage compliance and reduce operational errors.
Spot and contract buying
Handle multiple product types and new fuels including HSFO, LSFO, VLSFO (0.5 %), ULSFO (0.1 %), IFO, sludge and additives in a regulated market. View and manage vessel schedules, as well as record bunker delivery notes (BDN) and lab results against spec values. Moreover, you improve operational efficiency as Shiptech integrates with vessel management, laboratories, surveyors and accounting systems.
Better cash flow and capital management
Improve purchasing power via historical transactions analysis and speed up dispute resolution through effective claims management. Enhance cash forecast and cash management capabilities with comprehensive financial accounting tools.
Pre-deal analysis and decision support
Stay a step ahead with Smart Trader, a pre-deal analysis and decision support platform.
~ Combine vessel data, supplier and procurement systems with S&P Global Platts live pricing, news and market insights to optimise fuel management.
~ Access marine fuel data from over 350 ports and supplier directories with advanced search options and interactive maps displaying your fleet’s location and fuel levels to secure the best deals.
~ Analyze supplier performance and track counterparty exposure to reduce the risk of bad debts, maximizing your capital.
The best fuel deals
Compare supplier sales tactics from previous orders, analyze available market prices, fuel quality and compatibility as well as minimize operational and counterparty risks. Gain deeper insight into each supplier’s services and products to secure the best available deals.
What Our Customers Are Saying
Why wait? Stem the right deals with Shiptech!
Press Release
TORM JOINS INATECH ON APP TO TACKLE POST-2020 SHIPPING FUEL COMPLEXITY
Inatech, the energy trading risk management (ETRM) systems provider owned by Glencore, today announces that it has picked Romania as a new hub for IT development.
HOW TO OPTIMIZE FLEET LEVEL FUEL PROCUREMENT POST IMO 2020
As the industry starts to get used to working in a post IMO 2020 world, operators are facing up to the fact that they now need to deal with the additional costs of compliance.
INATECH & CQUANT.IO PARTNER TO PROVIDE ADVANCED RISK MANAGEMENT WITHIN TECHOIL
The partnership will provide Inatech’s customers with an array of advanced risk analysis tools including what-if scenarios, portfolio & margin optimization, hedge effectiveness and value at risk (VaR) models.
Frequently Asked Questions
A fuel management system not only provides you with the tools to optimize planning, it streamlines fuel procurement through process automation and workflows. With the right fuel procurement software, you can manage the complete end-to-end fuel management system from planning and procurement, through to contracts, labs, reconciliation, finance and claims. Moreover, automation reduces errors, increases operational efficiency, provides an audit trail for compliance, simplifies the procurement process and improves performance.
Integrated control and fuel monitoring systems help your business with environmental and regulatory compliance, real-time insights and a complete overview of fuel, engine and vessel performance. With such systems, you can have end-to-end control over the fuel management system from bunkering to consumption.