ZeroNorth platform improves bunker price data capabilities with BunkerEx deal

Maritime software companies ZeroNorth and BunkerEx have announced an expansion of their existing relationship to integrate new bunker price transparency data from BunkerEx within ZeroNorth’s platform, Optimise.

BunkerEx, recently acquired by Shipping and Trading group USTC, launched its fuel price data service in 2017, and today monitors more than 2,000 marine fuel prices per day. This data is systematically processed every few minutes to publish what the company calls a ‘true price’ in every port for both the spot and forward physical markets.

Cumulatively BunkerEx says that it has now analysed over 1.3 million price points each tied to a specific time, port, fuel grade and Brent reference. Every data point is fused with oil derivatives, credit ratings, nearby ports, freight prices (FFAs) and alternative datasets such as weather patterns to improve accuracy and coverage of bunker ports.

BunkerEx and ZeroNorth have been in working together as partners since ZeroNorth’s inception, with BunkerEx providing datasets for use in Optimise. This new announcement builds further on this partnership, allowing operators to optimise voyages directly with optimal operating speeds and recommendations on when, where and what to bunker for vessels across their fleet.

“Since inception, we structured all systems with data sharing in mind, whether it’s via our streamlined API or direct integrations with innovative providers like ZeroNorth,” said Ishaan Hemnani, Co-founder and CEO of BunkerEx.

“Their mission to reduce emissions through vessel optimisation is key to a greener future, and we’re happy to play our part towards that goal.”

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Rob O'Dwyer

Rob is Chief Network Officer and one of the founders of Smart Maritime Network. He also serves as Chairman of the Smart Maritime Council. Rob has worked in the maritime technology sector since 2005, managing editorial for a range of leading publications in the transport and logistics sector. Get in touch by email by clicking here, or on LinkedIn by clicking here.

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