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

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."
Christiania Energy headquarters. Christiania Energy relocates headquarters within Odense Harbour  

Bunker firm moves to larger waterfront office to accommodate growing team and collaboration needs.
AiP award ceremony for 20K LNGBV design. HD Hyundai Heavy Industries receives design approval for 20,000-cbm LNG bunkering vessel  

Bureau Veritas grants approval in principle following joint development project with South Korean shipbuilder.
Lloyd’s Register technical committee meeting in Spain. Peninsula outlines dual role in FuelEU Maritime compliance at Lloyd’s Register panel  

Marine fuel supplier discusses challenges for shipowners and opportunities for suppliers under new regulation.
Current status of fleet fuel types chart. LNG-fuelled container ships dominate January alternative-fuel vessel orders  

Container ships accounted for 16 of 20 alternative-fuelled vessels ordered in January, DNV reports.
Rick Boom, CIMAC and Professor Lynn Loo, GCMD. GCMD and CIMAC sign partnership to advance alternative marine fuel readiness  

Two-year agreement aims to bridge operational experience with technical standards for decarbonisation solutions.
Renewable and low-carbon methanol project pipeline chart as of January 2026. Renewable methanol project pipeline reaches 58.2m tonnes by 2031, GENA reports  

Project Navigator Methanol tracks 275 projects, including e-methanol, biomethanol and low-carbon methanol facilities globally.
Petrobras logo. Petrobras adjusts bunker pricing and minimum order volumes at Santos  

Brazilian supplier discontinues volume discount tier and lowers minimum order quantity from 1 March.
Viking Grace vessel. Viking Line secures biogas supply for 2026 after tenfold increase in biofuel use  

Åland-based ferry operator aims to maintain 50% biogas blend throughout the year on two vessels.
GNV Aurora vessel. GNV takes delivery of second LNG-powered vessel Aurora from Chinese shipyard  

Vessel to enter service on Genoa–Palermo route in April, completing first fleet renewal phase.
Tangier Maersk vessel. Maersk takes delivery of first methanol-capable vessel in 9,000-teu series  

Tangier Maersk is the first of six mid-size container ships with methanol-capable dual-fuel engines.




 Recommended