MARiS can help meet IMO2020 regulations
(Posted on 21/06/19)
IMO2020 is getting closer and the currently discussed approaches to meet IMO2020 requirements will generate additional pressure to the industry and thus put many shipping and commodity trading companies in a challenging situation. But how can digitalization help to meet and manage the IMO2020 regulations?
Digitalization is a core strategic initiative for many companies, but rarely explored when the topic IMO2020 is discussed. However, digitalization can help to address IMO2020 impacts in many ways. With IMO2020 bunker procurement processes will become more complex, additional operational costs will be generated, a sophisticated bunker plan will be even more essential and hedging of bunkers will become more competitive, thus impacting the overall voyage P/L – just to mention some of the raising challenges waiting around the corner. Thus, IMO2020 will require companies involved in the shipping and commodity trading industry to rethink the way they’re doing businesses today and at the same time this new regulation might also create new opportunities to outpace competition, if the cards are played wisely. But how can digitalization help to tackle those challenges in a more efficient way and to grasp the opportunity? Singular Point’s MARiS platform, offers shipping and commodity trading companies a wide range of functionalities to highlight and manage IMO2020 impacts mentioned before.
Using MARiS, shipping companies and commodity trading companies will be enabled to:
• ensure bunkers are consumed correctly according to IMO2020 regulations in any area of the world and thus avoid any penalties caused by inappropriate usage of bunkers,
• plan voyages smartly while taking IMO2020 regulations into account during cargo and freight evaluations,
• be alerted timely, if ECA requirements change in certain ports or areas of the world,
• include costs for operating scrubbers in their P/L evaluation or any other additional operational cost generated by IMO2020 regulations,
• improve their bunker procurement process, making sure they can keep straightaway track of bunker prices globally and have the ability to compare different low sulphur bunker and LNG prices that meet the IMO2020 regulations and minimize bunker costs,
• be able to analyze and compare future bunker requirements against multiple scenarios and thus, simulate different bunker impacts on P/L.
Meeting IMO2020 regulations requires the shipping and commodity trading industry to consider physical and digital approaches as IMO2020 will impact everyone in the industry and beyond. Companies that are able to manage bunker procurement and planning in a more efficient way will be victorious. MARiS is ready for IMO2020, are you?
Singular Point is innovative Swiss software company committed to the quality of his products and services. Headquartered in Zug Switzerland and with operation centers in Belgrade and Rome. Singular Point is a fully privately-owned company focused on the logistic software market dedicated to trading and shipping companies. With more than 20 years of experience in building logistic solutions and based on an extensive market knowledge, the team is designed to fulfill Singular Point’s vision: to embrace the maritime logistic challenges into one single suite of software instruments and to provide our customers with the most cost-efficient, cutting-edge and reliable enterprise logistic solution.
Latest News
Former INTERCARGO Chairman, Dr Spyros M Polemis, passes away
(Posted on 24/07/24)INTERCARGO, the association of dry bulk shipping companies, has released the following statement:&ldquo... Read more
Joint study of ammonia fuelled bulk carriers
(Posted on 22/07/24)ITOCHU Corporation, ClassNK, Nihon Shipyard Co., Ltd., and Maritime and Port Authority of Singapore (... Read more
WISTA UK celebrates 50 years of championing diversity and inclusion
(Posted on 22/07/24)The Women's International Shipping & Trading Association UK (WISTA UK) marked its 50th anniversary... Read more
Accidents on ships under scrutiny as InterManager submits statistics to IMO
(Posted on 16/07/24)Accidents onboard ships are not decreasing, according to latest accident statistics submitted to the... Read more
Solutions required for FuelEU Maritime rules compliance, says Columbia
(Posted on 16/07/24)Solutions must be in place to help ship owners with navigating the complex challenges of complying with... Read more
Boers committed to diversity with relocation of Filipino employees to Germany
(Posted on 16/07/24)Diversity and nurturing talent is high on the agenda for BCS Group – Boers Crew Services as it... Read more
INTERCARGO joins industry calls for IMO to amend flaws in CII
(Posted on 12/07/24)With discussions regarding the IMO’s (International Maritime Organization) Carbon Intensity Indicator... Read more
ICS Türkiye branch celebrates its inauguration in Istanbul
(Posted on 12/07/24)The Institute of Chartered Shipbrokers (ICS), the professional body for the commercial shipping industry... Read more
Columbia Group and Crowley forge strategic US alliance
(Posted on 12/07/24)Columbia Group and Crowley have signed a strategic cooperation agreement that broadens both companies... Read more
Inmarsat report advocates data sharing to address preventable incidents
(Posted on 04/07/24)The 2024 edition of The Future of Maritime Safety Report from Inmarsat Maritime, a Viasat company, reveals... Read more
