NorthStandard, in partnership with Veritas Petroleum Services (VPS), has launched ‘Fuel Insights’, a real-time marine fuel intelligence service for its members.
The digital platform offers fuel procurement information based on live data from fuel quality testing and inspection services provider VPS. Bunkering and operations departments can use this range of data to improve decision-making, by including off-specs and calorific value, whilst technical managers can use the data to anticipate fuel quality risks to avoid bad bunkers.
Platform users can also make more informed choices on the best fuel to meet their operational requirements, including fuel with the lowest environmental footprint.
Fuel Insights will be offered free of charge to NorthStandard members as part of its Get SET! digital portfolio.
“This is a unique collaboration in marine insurance,” said Colin Gillespie, Global Head of Loss Prevention, NorthStandard.
“It offers NorthStandard members easy access to global fuel statistics, as well as the tools to trade with confidence by managing risk and reducing claims in one of the most challenging areas of ship management.”
“Beyond mitigation, data could be invaluable to a claim or contract dispute. For example, if substandard fuel was repeatedly linked to a single port, or if fuel issues on board had an onward impact of cargo delays. Shipowners and operators also need full transparency on fuel availability and quality, especially given the rapid rise of alternative fuels.”
