London: Shipping still has a long way to go in terms of learning how to cuts its fuel bill, argues the boss of a cloud software firm today.
“In our opinion the industry is not doing well on fuel management,” says Jean Herve Jenn, the ceo of Inatech. “The current lull in the oil price has alleviated the problems, to a certain extent, but the inefficiencies in procurement remain,” he continues, adding: “Whether its supplier selection, buying strategy, port product selection – critical decisions are taken on fragmented information and spreadsheet-based processes which are prone to error and oversight.”
Energy procurement still remains by far the largest cost item – at around 40-50% of the voyage cost and this requires dedicated tools and processes, Jenn points out.
Inatech is a provider of cloud-enabled and on-premise fuel management systems to the marine industry. It also provides integration, consulting and ERP software to the manufacturing, logistics, supply chain and retail industries.
Inatech provides cloud-based software to both the shipping and bunkering industries. Shiptech has been designed for ship operators, Bunkertech for the bunkering industry.
With freight rates remaining brittle at best, Jenn is convinced that reining in costs will continue to be a priority for shipowners everywhere.
“Companies that are able to control their costs and build a real tool box of cost cutting measures will outperform the industry,” he says.
Jenn says his company is now looking at acquiring complementary technologies that would help it expand its footprint as well as expanding beyond bunker fuel into adjacent oil markets.