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Technology-driven bunker broking business OilFront announced its launch on Monday.

The company combines software with industry experience. It is headed by Danny Soos (previously with BP) and 35-year industry veteran Neil Lamerton (formerly with Gulf Petrochem and KPI Bridge Oil).

The business is focused on empowering small and medium-sized companies who have been shut out of the best deals in the bunker market because they cannot afford a dedicated bunker buying team.

Commissions per deal are said to be typically $1 per metric tonne, whilst there are no upfront costs. The company believes its solution will be able to save the average target company at least $3 per metric tonne.

OilFront explains that there are three ways it is saving money for its clients:

1) Improved planning

The new service is designed to make it easy to work out the most economic bunkering port, which may not be the load or discharge port.

2) Transparent negotiation

OilFront provides companies with access to experienced buyers who work the enquiry in the market. Where possible, they will work directly with suppliers, and can also help open credit lines.

All quotes are shown in real time as they are negotiated. As well as reducing costs, OilFront says its buyers can reduce the incidence of claims when compared to operators who buy bunkers infrequently.

3) Aggregate demand

The service is designed to enable OilFront to aggregate orders and to give more buying power to the shipping companies it works with.

CEO Danny Soos remarked: "OilFront enables small- and medium-sized companies to gain access to the best deals. There are no upfront fees for our technology and our commission is pre-agreed with clients."

Contact details for OilFront have been provided below.

Neil Lamerton, Head of Bunkering
Email: neil[at]oilfront.com
Mobile: +44 7872 608086

Danny Soos, CEO
Email: danny[at]oilfront.com
Mobile: +44 7931 582879
Skype: dannysoos

Phone: +44 20 7193 7500
Website: www.oilfront.com
Email bunkers[at]oilfront.com

Image: Danny Soos, CEO at OilFront.