ZeroNorth and Vitol sign long-term strategic partnership to develop more robust reporting of emissions and enhance vessel operations
3 May 2023
New agreement will provide Vitol with full suite of ZeroNorth products and services to deliver greener operations and compliance for upcoming regulations such as EU ETS
Copenhagen, Denmark: 3 May 2023; Technology company ZeroNorth has today announced it has signed a long-term strategic partnership with energy and commodity leader Vitol. The deal will see Vitol gain full access to the ZeroNorth platform, and ZeroNorth customers will in turn gain access to Vitol’s carbon reduction solutions and bunkering services, through the subsidiary Vitol Bunkers.
The announcement means that Vitol will use the ZeroNorth platform to optimise operations in a number of key business areas, including voyage, vessel, bunker and emissions optimisation, vessel reporting, and vessel selection. Holistic access to the ZeroNorth platform’s full suite of capabilities will benefit profit and planet, improving Vitol’s bottom line and delivering better environmental outcomes.
In the near term, ZeroNorth will use learnings from the collaboration to support the rollout of its new global electronic bunker delivery note (eBDN) solution. The deal will also support Vitol’s continued regulatory compliance with maritime environmental regulations, and help the organisation manage its EU Emissions Trading Scheme (EU ETS) exposure by ensuring verified data quality and consolidation for more accurate emissions reporting.
The reciprocal agreement will enable ZeroNorth to tap into Vitol’s experience to the benefit of all customers using the platform, both as a prominent vessel charterer and owner, as well as an experienced provider of high quality carbon reduction solutions, establishing a new deep collaboration as the industry manages the energy transition. By improving operational transparency between cargo owners and shipowners, ZeroNorth will be able to strengthen the platform’s ability to support emissions reductions in a wider scope.
Speaking on the announcement, Søren Meyer, CEO at ZeroNorth, said: “We are delighted to be able to announce this new strategic partnership and full platform deal with Vitol. The news aligns with our ambitious strategy in two key areas.
“Firstly, we are once again able to prove our platform’s pedigree to key industry players and bring them into our ecosystem, to the benefit of their business and the planet. Secondly, and more importantly, it enables us to deepen our collaborative ties with true commodities experts, powering up our teams and capability to deliver the products and services needed for a profitable and decarbonised maritime industry.”
Ian Butler, Head of Energy Transition for Shipping at Vitol, added: “Driving efficiencies is key to addressing emissions in shipping. As a major participant in shipping markets, we are exploring a range of solutions to facilitate the company’s management of the energy transition.
Our partnership with ZeroNorth will enable us to optimise our vessels, access valuable data, provide critical insight and allow us to evolve new, more efficient ways of working.”