DNVPS launches new bunker data analytics tool

Global fuel testing services firm DNV Petroleum Services (DNVPS) has introduced a new data analytics tool to help shipping companies get the best value from bunker fuel purchases.


The new web application Fuel Insight aims to provide real-time information on bunker deliveries worldwide, tapping into DNVPS' live bunker quality database. It distils complex data on fuel prices, ISO 8217 quality parameters and regulatory compliance into accurate insights for supplier evaluation and purchase decision-making, helping ship charterers, operators and owners optimise costs and reduce risks. With bunker fuel prices accounting for a large proportion of a vessel's operational costs, coupled with market volatility and stricter environmental regulations, many shipping companies are putting more focus on making the right decisions on fuel purchasing.


“At today's extremely high bunker prices, getting the best value in fuel purchases is a must, especially for shipping companies struggling to stay afloat,” said Tore Morten Wetterhus, managing director at DNVPS. Besides fuel buyers, bunker traders, brokers and suppliers can also use Fuel Insight as a quality control tool to monitor their own products, according to Wetterhus.


Fuel Insight further benchmarks various bunker performance indicators of individual vessels and fleets against industry averages. It consists of five key features: price correction calculator, reporting benchmark, statutory benchmark, financial benchmark, and technical benchmark.
(Source:http://www.seatrade-asia.com)