Denmark’s USTC has made its second major investment in a matter of days, acquiring online bunker broking platform BunkerEx.
BunkerEx functions as an online automated pricing tool and is integrated with WhatsApp, enabling clients to track physical and forward bunker prices while also giving clients the flexibility to change ports, dates, quantity, or even vessel.
USTC says the objective of the acquisition is to step up and streamline digitalisation activities across the group.
Nina Østergaard Borris, owner and COO of USTC, commented: “The acquisition of BunkerEx is a testament to our ambition to digitalise and be at the forefront of innovation and new technologies within the industry. We see great potential in BunkerEx and the team behind it, and we are already in talks about future plans to replicate the technology to other products and segments, thereby making it available and relevant to more USTC companies. This will enable us to continue the digital transformation that delivers seamless solutions for all Group stakeholders, and which is an inevitable enabler of industry innovation.”
No price for the transaction has been revealed.
Last week, USTC acquired a majority 60% stake in CM Biomass, the world’s largest independent wood pellet trading company.