Entries for ' vessel operations'

Shipping has been an important part of history dating back to the Egyptian coastal sailships of 3200 B.C., predominantly in areas where prosperity has depended primarily on international and interregional trade.  The maritime shipping industry is responsible for moving over approximately 90% of the world’s traded goods.  Entire countries down to your local mom-and-pop stores rely heavily on the success of this industry.

With that said, the shipping industry is currently battling some very strong headwinds due to soaring bunker costs and sinking freight prices, among other things.

Today, we have seen bunker costs represent more than 50% of total costs. Not only have these costs reached record highs - they continually become extremely volatile due to widespread fluctuations in crude oil prices.  Companies must find a way to successfully manage bunker volatility, or they will not fare well in today’s stormy business environment.

A recent article by The Boston Consulting Group (BCG), “Fueling a Competitive Advantage: An End-to-End Approach to Cutting Bunker Costs,” proposes a holistic approach to managing bunker costs.  The article, aside from addressing a number of concerns around analytical and organizational complexities, details an important key to success--using real-time decision support tools.

Since all fuel price increases can't be passed through to customers, the shipping company that best manages price risk will gain competitive advantage. To succeed, shipping companies need enterprise-wide information transparency and fast access to actionable data.

Triple Point’s Softmar Chartering and VesselOps™ is a next generation shipping solution that delivers a complete picture of enterprise position and exposure, and analyzes any combination of cargoes, vessels, load, and discharge operations. It enables the commercial maritime community to protect profits, make more informed and proactive decisions, and streamline day-to-day operations by providing advanced, actionable business intelligence.  Learn more

Freight-Risk-ManagementIf your answer to the above question is anything less than ‘very,’ your company’s future may be at risk.

In the turbulent seas of the shipping industry, understanding the true market value of your fleet is the difference between sinking and swimming. Performing frequent mark-to-market (MTM) valuations is an integral part of doing business. However, due to the volatile nature of the industry, the complexity of calculating freight rates, and flaws inherent in popular valuation methods and tools, companies often end up with inaccurate numbers. This provides an erroneous picture of financial standing that can result in lost profits, faulty decision-making, and ultimately the demise of an entire business.

To understand the challenges associated with calculating accurate MTM valuations and how to address them, I encourage you to read a new article in The Baltic by Javier Navarro, Triple Point’s Freight Risk Solutions Manager. It offers a detailed look into this subject that is intended to help companies gain a competitive edge and stay afloat in the rough waters of the cutthroat shipping industry. Read it now

Pacific Carriers Limited, the global shipping and logistics subsidiary of Kuok (Singapore) Limited, has licensed Triple Point’s chartering and vessel operations software to manage supply chain cost and enterprise risk for its dry bulk commodities business.

Pacific Carriers Limited is a leading dry bulk operator with a growing fleet of product tankers, as well as offshore support vessels. It is a wholly-owned subsidiary of Kuok (Singapore) Limited, one of South-East Asia’s largest commodity houses trading in scrap steel, agricultural commodities, fertilizers, and chemicals.

With continuing growth in global commodity supply chain operations, the ability for organizations to control the cost and risk of transporting freight, including freight rate volatility, is key to managing overall supply chain cost and enterprise risk. Triple Point’s chartering and vessel operations software enables organizations to comprehensively manage freight rate risk, chartering, and post-fix operations on an integrated platform.

“For companies exposed to raw material, energy, and commodity price volatility, the need for a sophisticated commodity management solution to manage the buying, selling, risk, storage, processing, and transportation processes has never been greater,” said Peter F. Armstrong, president and CEO, Triple Point. “We are honored to add a customer of Pacific Carrier’s stature to our growing client base.”

Ocean TankersOcean Tankers has licensed Triple Point’s chartering and vessel operations software to manage all pre- and post-fixture activities for its wet bulk shipping operations. Ocean Tankers specializes in the transportation of petroleum and related products and provides worldwide coverage.

Incorporated in the Republic of Singapore in 1978, Ocean Tankers has over 2.3 million DWT (Deadweight tonnage) of carrying capacity and services a wide network of customers, including oil majors, state-owned oil companies, and international trading houses. The company manages a fleet of 83 vessels, ranging from small coastal vessels to large ULCCs (Ultra Large Crude Carriers).

“Shipping is a key element of an efficient and effective commodity supply chain, and Triple Point provides the only commodity management solution with the functional depth and breadth to handle voyage estimating, post-fix operations, bunker procurement, and freight risk management in its shipping platform,” said Michael Lolk Larsen, managing director, chartering and vessel operations, Triple Point. “Triple Point is proud to include Ocean Tankers as a customer, and we look forward to supporting its growing operations.”

Triple Point is successfully claiming market share with a diverse group of commodity participants, energy companies, industrial manufacturers, CP companies, and ship owners/operators that have selected Triple Point to manage the supply and distribution of commodities via ocean-going vessel, including: Bunge, Louis Dreyfus, Transgrain (Nidera), Olam International, Glencore, Gunvor International B.V., Hindustan Petroleum-Mittal Energy, SAB Miller, Petredec Limited, Prime East Shipping, Berge Bulk, Beluga, United Arab Chemical Carriers (UACC), and U-Sea Bulk.

Beluga Shipping GmbH licensed Triple Point’s flagship chartering and vessel operations software to profitably manage all pre- and post-fixture activities of its heavy-lift transport operations.

Beluga Group provides a full range of customized transport solutions including shipping, chartering, and fleet management operations. Beluga Group is the worldwide leader in the heavy-lift shipping segment and operates a modern fleet of 72 multipurpose heavy-lift project carriers, equipped to lift a combinable load of up to 1400 tons. The company is based in the Hanseatic city of Bremen, Germany and serves targeted industry sectors including oil and gas, refining, petrochemicals, wind energy, and more.

“Triple Point’s shipping software enables Beluga Group to meet strict requirements for precise handling and transport of the largest, most complex cargoes anywhere in the world,” said Michael Lolk Larsen, managing director, chartering and vessel operations, Triple Point. “We are pleased to add Beluga to our expanding community of world-class shipping customers.”

Triple Point is successfully claiming market share with a diverse group of commodity houses, energy companies, industrial manufacturers, CP companies, and ship owners/operators that have selected Triple Point to manage the supply and distribution of commodities via ocean-going vessel, including: Maestro Shipping, Prime East, Berge Bulk, Ultrabulk, Beluga Shipping, Practica Shipping, United Arab Chemical Carriers (UACC), Atlas Shipping, Navios Maritime, U-Sea Bulk, Oldendorff, Isaphia, Petredec Services, SAB Miller, Hindustan Petroleum-Mittal Energy, Gunvor International B.V., Louis Dreyfus, Bunge, Glencore, Transgrain (Nidera), and Olam International.

Events

Procemin 10th International Mineral Processing Conference

October 15-18, 2013 | Chile

XXV Brazilian National Meeting of Mineral Treatment and Extractive Metallurgy (ENTMME)

October 20-24, 2013 | Brazil



Opinions expressed on this blog are those of its individual contributors, and do not necessarily reflect the views of Triple Point Technology, Inc.