BunkerMetric strengthens bunkering decision tool with wealth of Inchcape port call data
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.
ABOUT BunkerMetric
Scandinavian software company BunkerMetric was founded in 2017 and is a leading global provider of bunker planning and optimization solutions for shipowners and charterers. Its cornerstone product, BunkerPlanner, helps vessel operators around the world reduce bunker costs and improve decision transparency across the bunkering, chartering and vessel operations desks. The application ensures regulatory compliance and dramatically improves financial results creating impact where it really matters – on the bottom line of each voyage.
ABOUT Inchcape Shipping Services
Inchcape Shipping Services is a global provider of port agency and maritime services, with 240 offices in 60 countries and a team of 2,500 professional and dedicated staff. Inchcape’s unique geographical footprint means it can offer customers a full range of services, delivered safely, transparently and with exceptional service wherever they are in the world.
Inchcape’s diverse global customer base includes owners and charterers in the oil, cruise, container and bulk commodity sectors, as well as naval, government and inter-governmental organisations.