Sign up
Log in Sign up
Fri 15 Sep 2017 06:45

Brightoil enhances online trading platform with new features


Updated platform includes a fixed forward price facility enabling clients to lock-in bunker deals up to nine months in advance.

Brightoil on Friday launched a new version of its online trading platform which now features a fixed forward price (FFP) facility enabling clients to lock-in bunker prices up to nine months in advance.

The newly updated platform is the result of a year-long collaboration between Brightoil's commercial and IT development teams in Singapore and Shenzhen, in which more than 60 dedicated members of staff were involved.

The key features of the 'Brightoil Bunker Online E-Delivery' platform include:

- Price Risk Management providing real time FFP indications; up to nine months forwards are tradable;

- No initial margin or margin calls;

- Online nomination of FFP contracts for physical delivery and optional cash settlement.

Settlements culminate in physical bunker delivery rather than speculative hedging using paper financial instruments.

The platform is accessible via PC, Mac, iOS and Android mobile apps.

Commenting on the news, Stephen Qi Jun, Chief Operating Officer of Brightoil International Trading and Bunkering, said: "We are taking a strategic step in this uncertain environment by putting significant resource and financial investment into this online platform.

"We are launching now because we recognise that our customers' business environment is rapidly changing. There is a constant need to improve process efficiency and create cost saving in the intensely competitive shipping markets.

"This is why we have worked hard to incorporate a full spectrum of new and innovative tools available now at your fingertips."
Aicha Azad, Flex Commodities. Flex Commodities hires Aicha Azad as trader in Dubai  

Bunker firm appoints multilingual trader with bunker trading and cargo operations experience.
Desk calendar with the word “TAX”. 'Excess' fossil fuel profits should be taxed and given back to citizens, says T&E  

Campaign group calls for sustained taxes on excess profits or end to subsidies that keep demand high.
NYK Line’s Padma Leader vessel. Imabari Shipbuilding delivers LNG-fuelled car carrier to NYK Line  

Padma Leader expected to achieve up to 30% CO2 reduction through dual-fuel propulsion and exhaust gas recirculation.
Tallink’s MyStar vessel. Tallink targets full bio-LNG transition for Baltic shuttle vessels within a year  

Estonian ferry operator aims to replace all fossil LNG with renewable fuel on the Helsinki-Tallinn route.
Grimaldi's Grande Melbourne vessel. Grimaldi takes delivery of third ammonia-ready car carrier from Chinese shipyard  

Grande Melbourne is the third of seven vessels ordered from Shanghai Waigaoqiao Shipbuilding for Asia-Europe service.
BPCL and Cochin Port sign MoU. BPCL and Cochin Port sign MoU for LNG bunkering facilities  

Indian oil company and port authority agree to develop LNG refuelling infrastructure for vessels.
ClassNK Guidelines front cover. ClassNK publishes world-first guidelines for membrane-based onboard CO2 capture systems  

Classification society expands guidelines to cover membrane separation method for capturing ship exhaust emissions.
April Tan, Flex Commodities. Flex Commodities hires April Tan as lead trader for China  

Dubai-based marine fuels trader appoints experienced professional to Singapore office to drive regional expansion.
Contract signing ceremony. Yang Ming finalizes contracts for six methanol dual-fuel-ready boxships  

Taiwanese carrier signs deals with Japanese shipbuilders for vessels scheduled for delivery from 2028.
China’s Da Qing 268 vessel. China's first newbuild dual-fuel methanol bunkering vessel launched in Zhoushan  

Da Qing 268 can supply methanol and conventional fuels to ships at anchorage.




 Recommended