Highly Manual, Paper-based Process
The current bunkering process consists of 122+ touch points and a transaction takes approx. 120 days to settle.
Operational Variance and Losses
Fuel theft is a main vector for international crime and in South East Asia alone is estimated to cost the shipping industry approx. US$3bn per year.
0.5% SOx Compliance Risks
As of Jan 2020 global sulfur limits for bunker fuel move from 3.5% to 0.5%. affecting approx. 3.7MMb/d of fuel (McKinsey & Co.) increasing operating costs, non-compliance risk & working capital.
Inefficient Information Sharing
Entities involved in the bunkering process record and manage information within their own systems, creating a convoluted trail that is difficult to recover in the event of a dispute.