Bunker supplier goes digital for IMO 2020
Greece-based global bunker fuel and marine lubricants trader Shipoil has appointed Glencore unit Inatech to digitalise its trading and supply operations as part of a strategy to minimise the effect of the IMO’s 2020 sulphur limit on its profits.
Inatech’s energy trading and risk management (ETRM) system for the bunker industry uses cloud-based computing to reduce operational and counterparty risk, while driving efficiency in volatile markets and maximising profitability. Inatech said its technology is in high demand as the IMO’’s rules to cut sulphur emissions spur the introduction of new fuels and hybrids, complicating decision processes for bunkering.
“At this critical juncture in terms of both our own expansion and the onset of new fuel regulations, it is critical that we employ systems that optimise and streamline our bunker decision-making process,” said George Tsoris, managing director for Shipoil. “Inatech was able to implement its product to meet our exact requirements, leaving me reassured that we have the best foundation possible to drive our business forward.”
Based in Piraeus, close to Athens, Shipoil has been expanding its bunker supply operations, most recently in the Mediterranean and Middle East.
Inatech senior vice president, Alok Sharma, said: “As the sulphur cap deadline approaches, traders, suppliers and shipowners must review how they specify, source and finance their supply. Inatech gives Shipoil a helping hand in managing that transition for its clients.”
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