Bunker software supplier BunkerMetric integrates its flagship BunkerPlanner application with Inchcape’s World of Ports (WoP) service to source accurate and constantly updated data on bunkering-related port call costs.
Choosing the right bunkering port has a huge impact on the Time Charter Equivalent (TCE) of a voyage. Operators making the right call can easily improve the TCE by hundreds of dollars per day, or tens of thousands of dollars per voyage. BunkerPlanner generates a bespoke bunkering plan for each vessel and voyage based on the latest available schedule and prices, typically pulled through integration with the client’s Voyage Management System (VMS) and now supplemented with data from Inchcape.
Integration with WoP means the software also takes up-to-date port call, anchorage, barging and other costs into consideration, enabling operators to choose the right bunkering ports from multiple bunkering scenarios without worrying about unexpected outlays.
“Choosing a bunkering port is sometimes simplified into a choice of the lowest dollar per mt [metric ton]. But to truly improve voyage TCE you need to look more holistically at the implied costs of bunkering. Is it induced, how long is the deviation, and how much is the port call cost? Vlissingen may be 15 dollars per mt lower than Skaw, but the anchorage cost can easily be 10,000 dollars higher at Vlissingen, cancelling that benefit. By including World of Ports port call data we are significantly adding to the value of BunkerPlanner for our clients,” said BunkerMetric CEO and co-founder Christian Plum.
WoP gathers detailed data on a huge number of ports worldwide, including all the main bunkering locations, and can at a vessel-class level give detailed insight into the costs, locations and other operational details where bunkering can be provided.
Jeff Clark, Head of WoP at Inchcape, says the BunkerPlanner integration is an excellent example of exactly how digital innovation is transforming shipping through the power of data.
“By leveraging Inchcape’s global network combined with the Port Cost Estimator module in WoP, we can provide a data feed to BunkerPlanner allowing their users to access voyage-critical port cost data through one dashboard, instantly. We’re delighted to be supporting BunkerMetric in helping their customers optimise voyage costs through their digital platform,” Clark said.
WoP data has already been integrated in BunkerPlanner and is live. Fernando Alvarez, BunkerMetric co-founder and CTO, says feedback from vessel operators indicates they view this not only as real improvement to the system, but it also deepens their understanding of how digital tools can support decision making.
“BunkerPlanner adds actionable intelligence to operators’ decisions by calculating many bunkering strategies. Operators spend large amounts of money on bunkers, and our solution offers an unusually high ROI and a very short payback period. A single optimized stem recommendation can easily pay for the cost of the software for that vessel,” he said.
Shipping News You Would Like:
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Latest Shipping News You Would Like:
Get the Latest Maritime News Delivered to Your Inbox!
Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.