Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today that Olam International Limited has licensed Triple Point's flagship chartering and vessel operations software to manage pre-and-post fixture activities for its bulk commodities operations, including cocoa, coffee, cashew, peanuts, sesame, rice, cotton, and wood products.
Triple Point's chartering and vessel operations software is based on mature, well-tested products obtained in its acquisition of Softmar -- now the chartering and vessel operations division of Triple Point. The shipping division serves over 80 blue-chip clients and more than 2500 users throughout North America, South America, Asia, and Europe.
Olam International is a leading global supply chain manager of agricultural products and food ingredients. Olam is a supplier to manufacturers of many of the world's most recognized international brands, and its unique "total solutions" approach has earned it a global reputation as the "Brand behind the Brands." Olam has been named to the 2009 and 2010 Forbes Asia "Fabulous 50," an annual list of 50 big-cap and most profitable firms.
"Olam's selection of Triple Point is clear affirmation of our ability to help world-class agribusinesses manage any and all aspects of their commodity operations," said Peter F. Armstrong, president and CEO, Triple Point. "The need for sophisticated enterprise risk management, trading, procurement, and logistics solutions have never been greater in the Asian markets. Triple Point alone has the functional depth and breadth to measure, manage, and report on both trading and shipping for an integrated view of commodity management. We're honored to welcome Olam as a customer."