6 Ways for Shippers to Reduce Bunker Costs

6 Ways for Shippers to Reduce Bunker Costs

It’s no secret – shipping is going through a tough time. And in tough times, owners and operators need to do everything they can to help the bottom line. The industry has been rife with consolidations, bankruptcies, acquisitions and downsizing. But what else can shipowners and charterers do to become more profitable?

The cost of bunker fuel is an easy place to start. Fuel accounts for a whopping 60-80% of the cost of a voyage. So what are the ways an owner can reduce these costs?

 

1. Slow Steaming

This is an obvious one. Drag on a ship reduces “quadratically” with the speed, […] Read more

BunkerEx doubles supplier coverage, achieves lowest bunker price 90% of the time.

BunkerEx doubles supplier coverage, achieves lowest bunker price 90% of the time.

BunkerEx, the online marketplace for bunker purchases, has vetted and added over 50 new suppliers in the past month, doubling it’s global port coverage in the process.

 

“We now have over 200 bunker suppliers and traders registered across 700 ports, all reachable on our site at the click of a button” Hemnani, founder of BunkerEx said. “It allows bunker buyers to scan and see firm offers from a huge portion of the market faster than any other traditional method. As a result of such a large supplier network, the data shows we achieve a better price for our clients on 9 […] Read more

Introducing Credit for Bunker Buyers

Introducing Credit for Bunker Buyers

We’re pleased to announce the launch of a new, dedicated service for setting up credit lines for bunker buyers with our trusted and verified suppliers*. This can be found at bunker-ex.com/credit.

 

The service utilises our database of information to determine:

Which documents are needed to set up credit (as all suppliers are different, and some need more documents than others).
How many potential credit lines a buyer should have for good, competitive coverage.
If a company is not keen on giving out their financials, we have an algorithm that determines the maximum supplier coverage they can achieve from a minimum amount of credit lines.

For […] Read more

BunkerEx: Balancing Humans and Technology

BunkerEx: Balancing Humans and Technology

Every morning at the BunkerEx headquarters, our entire team gets together to brainstorm innovative ways for technology to make bunker buying faster and cheaper for our clients. But bunkering is an art as well as a science, often relying on human knowledge and care to deal with complex issues before, during and after each delivery. Each stem requires huge amounts of operational attention, so buyers want someone experienced to represent them – something machines aren’t very good at.

So how do we balance the power and speed of technology with the care and experience of our brokers?

 

Enhancing Brokers

We strongly believe in […] Read more