Rotterdam-based brokerage Bunker Connect and bunker supplier and trader Delta Energy Fuel Supply & Trading have set up a joint venture, Delta Connect DMCC, to further develop and expand Bunker Connect’s digital bunker platform.
Part of the Delta Connect venture will ensure Delta Energy’s bunkering processes become more automated and more transparent. Bunker Connect, meanwhile, will bring its digital platform to a wider marketplace and can take advantage of Delta Energy’s credit and business development resources, the two companies said in a release.
Delta Energy’s physical bunkering locations and trading offices will remain independent and continue business as usual. At a group level, Delta Corp operates and purchases bunkers for anywhere between 50-70 dry bulk vessels and will also have their volume bought via the digital platform over time as it is integrated internally.
Delta Energy, as a part of Delta Corp, said it wants to continue to press ahead as a pioneer in the global drive for digitisation of the bunkering and shipping industry. This is also underlined by Delta Corp’s recent acquisition of Quantship, a pioneering artificial intelligence platform, which utilises quant algorithms to unlock value in freight markets.
“By listening to the needs of our counter-parties in a market that is leaning more and more toward digitisation we took the decision collectively to add to our already unique customer offering by teaming up with a special group of individuals whose growth ambitions match that of our own. Whilst still offering traditional bunker trading services we are also very excited over the coming months to roll out the new online platform which is named Delta Connect,” said Chris Todd, Delta Energy’s head of global trading.