TORM JOINS INATECH ON APP TO TACKLE POST-2020 SHIPPING FUEL COMPLEXITY

• Inatech ‘Smart Trader’ aids industry facing $60 billion extra fuel bill from IMO low-sulphur rules in 2020 • Torm, one of world’s leading tanker shipping companies, is among first clients 5th March 2019 – As world shipping braces for a $60 billion hike in the industry-wide fuel bill from 2020, help is on its way in the form of a new toolkit that scours the globe in real-time for the optimal bunker ports. Inatech, a unit of Glencore that specialises in energy trading risk management systems, has built the ‘Smart Trader’ app to enable companies to map their entire fleet of ships and visualise best routes given sea and port conditions to achieve lowest prices for the desired quality of fuel. The toolkit leverages bunker alerts and pricing data from S&P Global Platts, the leading independent provider of information and benchmark prices for the energy and commodities markets. Torm, the tanker company that’s one of the world’s biggest carriers of refined oil products, worked with Inatech on the app’s design and is among the first clients. The major international shipping companies are investing in technology ahead of the implementation of the International Maritime Organisation’s rules to limit sulphur emissions… continue reading

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Source: CTRM Center

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