As reported by Bloomberg and 40+ publications

Jul 26, 2019

Greece’s Shipoil Mandates Inatech to Assist with IMO 2020 Profit Challenge

 

The Greece-based global bunker fuel and marine lubricants trader Shipoil has appointed Inatech, a unit of Glencore, to digitalize its trading and supply operations as part of a strategy to prevent new low-sulphur emissions rules from 2020 eating into profits.

Shipoil offers worldwide bunker supply. The company, based in Piraeus, has been expanding its operations, most recently in the Mediterranean and Middle East.

Inatech’s energy trading and risk management (ETRM) system for the bunker industry uses cloud-based computing to reduce operational and counterparty risk, while driving efficiency in volatile markets and maximising profitability. The technology is in high demand as the International Maritime Organisation’s rules to cut sulphur emissions from 2020 spur the introduction of new fuels and hybrids, complicating decision processes for bunkering.

“At this critical juncture in terms of both our own expansion and the onset of new fuel regulations, it is critical that we employ systems that optimise and streamline our bunker decision-making process,” said George Tsoris, Managing Director at Shipoil in Piraeus. “Inatech was able to implement its product to meet our exact requirements, leaving me reassured that we have the best foundation possible to drive our business forward.”

Inatech Senior Vice President Alok Sharma said: “As the sulphur cap deadline approaches, traders, suppliers and shipowners must review how they specify, source and finance their supply. Inatech gives Shipoil a helping hand in managing that transition for its clients. ”

Notes for editors

About Inatech:

Inatech is a leading global provider of intelligent cloud-based energy trading risk management (ETRM) and fuel management software to the physical oil trading and marine industries. Part of Glencore’s oil division, Inatech combines best-of-breed cloud technologies with in-depth industry expertise to enable companies to integrate, automate and optimize business processes, driving efficiency and revenue growth. Inatech’s customers benefit from an international delivery model that provides the competitive edge needed to thrive in today’s dynamic markets. www.inatech.com

About Shipoil:

Shipoil commenced activity as a bunker and lubricants trader mainly for the port of Piraeus. The company has grown in a short time to a global fuels and lubricants trading house. The maritime experience of our personnel as well as our long term presence in the marine field has made us a reliable source of bunkering support for ship owners, operators and charterers, securing the most competitive prices for our clients on a worldwide basis 24 hours a day, 365 days a year, and providing customers with accurate information from the time of inquiry till completion of the supply and the departure of the vessels. www.shipoil.com

 

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