Partnering with Monjasa to put market leading bunker information within Optimise
19 May 2021
The importance of bunker market data
Last week, all of us at ZeroNorth were pleased to announce our new data partnership with global oil & shipping group Monjasa. Our newly forged partnership means that Monjasa’s considerable repository of bunker market data is now available in Optimise.
To be specific, Optimise users are now able to access data from Monjasa spanning bunker prices and availability of the most common fuel grades at key ports around the world.
Monjasa’s huge range of bunker market data covers the current market price of the most commonly applied marine fuels in a variety of grades.
Our partnership also means that users will be able to access information about fuel availability in a range of locations, from key bunkering hubs such as Singapore, Rotterdam, Houston and Fujairah, to smaller or more regional trading ports. In all, Monjasa’s coverage spans nearly 700 global ports – and that information can now be used to power Optimise and improve your operational decision-making.
At ZeroNorth, we are very pleased with this new partnership. Since day one, collaboration with the best has been a core part of our vision – and the announcement this week means that the industry’s very best bunker market information is available to you, our users.
Knowing what is happening in the bunker market is very important. Having a clear view of what is going on, and how it can impact your operations, is clearly central to the ongoing challenge of vessel efficiency.
And like all our partnerships, this new data source will enable Optimise to make even stronger recommendations, enabling tramp shipping operators to unlock actionable insights on speed and bunker planning immediately.
I also want to briefly highlight how this new data source improves our BunkerAction feature in Optimise, which we launched to market late last year. Using Optimise’s algorithm, BunkerAction turns data like Monjasa’s into recommendations about when, where and what to bunker for vessels across a fleet.
BunkerAction calculates necessary parameters to make recommendations to operators about their bunker procurement. For example, depending on weather, market rates and dynamic speed and consumption, BunkerAction may recommend that a vessel takes on bunkers at an alternative port, if it calculates that cost and efficiency savings can be generated.
Like the rest of Optimise, BunkerAction’s recommendations clearly indicate the cost benefit and emissions transparency of each potential decision.
As the team shared last year, we were delighted to get BunkerAction into the hands of owners and operators. Fuel is the single largest cost for most owners and operators in tramp shipping, so it makes sense that we apply the power of cutting-edge digital technologies to drive a meaningful impact.
This week’s announcement with Monjasa only further improves the transformative potential of BunkerAction – and all of Optimise – as a solution for improving revenue and cutting emissions.
Collaboration at the fore
Finally, a word on partnerships and collaboration. I continue to be proud of the ecosystem of digital leaders that we are building at ZeroNorth. All of our partners, including Monjasa, are helping us to achieve our vision to digitalise shipping for the climate. Here is to more exciting partnerships in future – and more users finding out what Optimise, including BunkerAction, can do for their operations.