While some companies are lining up strategies to take advantage of the potential tanker freight differentials surrounding the imposition of the 2020 global sulphur cap, others, like the Hafnia Group is looking to digitalisation to solve potential issues.
Hafnia Group, a shipowner and operator of tankers which has recently seen changes in its tanker division, has mandated Inatech, a unit of Glencore, to implement its Shiptech platform for optimising part of the fuel procurement process.
By digitalising the bunker management process, Hafnia’s buyers can focus on market analysis and managing suppliers.
Inatech suggested that an operator with just one ship could have annual fuel costs of around US$2.4M. This is based on a ship using 40 tonnes of fuel a day, being at sea for an average of 200 days and fuel costing US$300 a tonne. Expand that example to say 20 ships and annual fuel costs rise to US$48M.
According to Inatech, Shiptech is integrated into voyage systems and financial data functionality to ensure seamless flow of information. This ensures digitalising the entire process end-to-end.
“From the onset of setting up the new bunker purchasing desk less than two years ago and with the imminent arrival of the 2020 emissions regulations, we want to find better ways to buy and monitor fuel purchases,” said Hafnia Group general manager Peter Grunwaldt.
“Shiptech automates a lot of the fleet monitoring and fuel price comparison processes, and this will free up our team to instead think strategically and respond quickly as situations emerge. It will eventually allow us to track the quality of the fuel, which is crucial for us,” he said.
“The previously sleepy world of shipping fuel procurement has had a rude awakening these past few months from both the impending emissions regulations and the recent fuel contamination issue,” said Inatech chief executive Jean-Hervé Jenn.
“We’re working hard to ensure that ship operators have the best tools possible to navigate in an increasingly complex arena,” he said.
Business, operational and technical issues impacting the crude, product and chemical tanker trades will be discussed in London at the Tanker Shipping & Trade Conference, Awards & Exhibition, 20-21 November 2018.