31 March 2021

Digitalization of the Bunker Market

It is no secret that the maritime industry has not always been the quickest to embrace technology. Many buyers and suppliers alike may not even be fully aware of all the added benefits technology can have, and thus have chosen to stick with antiquated solutions that may hinder the efficiency of their operations.

However, it seems as though the tides may be changing. A study published by Ship & Bunker back in February found that ~20% of shipowners and managers surveyed were currently testing digital products for performance and navigation. Couple that with new digital projects emerging in some of the key bunker hubs like Fujairah, Rotterdam, & Singapore and it would seem as though the industry is finally beginning to see the benefits of digitalization. Perhaps all it took was the COVID-19 pandemic forcing teams to go remote for companies to realize that more collaboration, more time efficiency, and greater mobility across systems was needed.

That is where software-as-a-service (SAAS) companies, like ClearLynx, can truly add value. Below you will see a mosaic view that gives a quick visual overview of ClearLynx as well some of the key features of a SAAS platform and how ClearLynx fulfills each:

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  • -  Increased time efficiency: Can generate and send inquiries from ClearLynx in seconds, eliminating the use of excel spreadsheets. All pertinent company information is loaded in during implementation so that all vessel details, specs, clauses, terms, etc. are automatically populated on each order form.
  • -  Ease of use: ClearLynx is an out-of-the-box solution meaning after implementation it can be used immediately, which is much easier than investing years of time and money to build your own.
  • -  Integrations: Built for easy integrations with vessel management and accounting systems to increase dataflow.
  • -  Upgrades: Through agile sprints ClearLynx is constantly upgrading and adding new features with release notes sent to all clients. Clients can also work with ClearLynx to develop any customizations needed that are not already available.
  • -  Increased collaboration: Built-in chat communication and email within the application to encourage internal dialogue on bunker decisions. Also have various approval roles to ensure the right people in your company are making final decisions.
  • -  Accessibility: Mobile app gives users the ability to stem on the go and work form multiple devices. Can also access ClearLynx Pricing & Analytics service via mobile app. 24/7 support team ensures any issues that arise can be handled no matter where you sit in the world.
  • -  Data storage & security: All data is stored safely & securely on cloud-based Amazon servers. By capturing all data points in ClearLynx it makes it easy to have a full audit trail for each bunker decision made. Each order in ClearLynx has its own panel that includes price performance, supplier offers, pertinent dates (inquiry, stem, delivery), and invoice/BDN history.
  • -  Analytics: ClearLynx has a multitude of reports across all aspects of procurement to allow for performance benchmarking, comparison to peers, and overall analysis of procurement strategies through our ClearIntel reporting package. Additional have advanced tabber reporting for fuel quality data. Fuel tests can be parsed directly into ClearLynx with results able to be displayed in reports instantly.
    • -  Additional Modules: ClearLynx has other software packages that can work with the procurement tool. Pricing & Analytics is typically included with PRO and includes daily price information in 100+ ports, complete supplier directory for 300+ ports, price momentum indicators and comparison tools, etc. In addition to that ClearLynx also has an voyage optimization tool, ClearPlan, which helps owners make optimized decisions on where to lift and how much to lift
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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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