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2 SEPTEMBER 2020

Competitive Price Benchmarking

In today's highly competitive shipping market, bunker costs are a large part of a company's profitability. As we enter a new decade, filled with the complexity of multiple fuels, fragmented supplier base, & cargo indexes, price volatility has risen 1-5%.

Senior management is taking a greater interest in how their procurement team performs against competitors and peers. It helps gauge where they lead, lag, or operate at par with the market and address areas that urgently need improvement.

Benchmarking is a critical tool in that regard. It has two vital components, internal and external. Each company and its buyers have different buying styles or skill sets, & we understand many circumstances are unique to each order.  

ClearLynx has data in hundreds of ports to support benchmarking as shown above. We offer the ability to benchmark both versus the stem price, as well as a deeper level of analysis, the 9-day price performance. Be on the look-out for updates in the near future as an additional level of benchmarking analysis to peers is currently in development. 

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Through our bunker procurement, pricing and analytics platform, we have unique visibility of actual and indicative pricing, product requirements, availability and completed transactions across the market. By aggregating this anonymized data, coupled with over a decade of historical data, we can provide insight into market activity, current trends and commentary on potential future outcomes. 

ClearLynx Market Insights brings you the latest thoughts and findings from our team based on real data.

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