Fueltrax has announced the launch of a ‘smart financing’ programme designed to help vessel operators install electronic fuel management systems (EFMS) without the need for a significant initial capital investment.
The new option allows shipping companies to pay for the systems on an ongoing basis, with payment arrangements customised to their specific needs. Fueltrax has signed an agreement with Malaysia-based Vestera to support the programme, which will see the two companies work together to help install the technology.
The Fueltrax EFMS was designed by former NASA engineers, providing a closed-loop, tamper-proof system for measuring direct fuel consumption via an array of sensors connected to mass flow meters.
“Clients have been seeking a way to finance their installations, and this excellent financing model is the perfect way for them to begin enjoying the benefits of a Fueltrax system immediately,” said Faiz Azani, Fueltrax’s Kuala Lumpur-based Director of Operations for Southeast Asia.
Fueltrax says it is also open to partnerships with lenders in other regions to expand the programme.
