Equatorial Marine Fuel links one third of bunker fleet to SGTraDex in push towards trust & transparency
Singapore bunker supplier Equatorial Marine Fuel Management Services Pte Ltd (EMF) has connected one third of its bunker tanker fleet to the Singapore Trade Data Exchange (SGTraDex), learns bunkering publication Manifold Times.
The seven SGTraDex-linked bunker tankers, namely Sea Diligence, Sea Fortitude, Sea Bountiful, Sea Reliance, Golden Bravo, Sea Loyalty, and Sea Brilliance, represents part of EMF’s perpetual push towards the implementation of trust and transparency in business operations, states Choong Sheen Mao, Director of EMF.
“Having data securely sent from digital mass flow meters via the Internet of Things to the cloud for inspection by all counterparties severely reduces credit and fraud risk. This is a significant development for EMF,” he explains.
“Moreover, the authenticity for a third of our bunkering transactions can now be tracked by reputed financial institutions using the SGTraDex digital infrastructure.
“We are proud to be amongst the first to showcase the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant, while demonstrating to the world SGTraDex is workable.
“Overall, the availability of SGTraDex for supporting marine refuelling operations represents an achievement for the entire Singapore bunkering sector. After all, this is a multiagency effort spanning a two-year period involving the whole bunker supply chain.”
Singapore-based Brightree Pte Ltd, a solutions provider for the implementation of industrial Internet of Things, connected EMF’s seven mass flow meter (MFM) equipped bunkering vessels to SGTraDex.
“We upgraded communications systems on the marine refuelling tankers with an external antenna to send data from the bunker metering computer back to the SGTraDex network in Singapore,” explains Kevin Peng, Managing Director of Brightree.
“This is done via a router utilising both Singapore and Indonesia SIM cards. Connectivity is not a big problem, as data is simply backed up in dead zones with no GSM signals and automatedly resent to the server once connection has been re-established.
“Brightree’s digital bunkering solution emphasises a great deal on cyber security and data integrity. Users of our systems can be assured of the accuracy and integrity of bunkering digital documents.
“We have been involved with this bunker digitalisation project since 2018. The launch of the evolved SGTraDex platform represents a monumental step for Singapore’s bunkering sector. Brightree is proud to have been amongst key solution providers for this platform.”
The seven EMF bunker tankers involved in the project are using MFMs manufactured by Emerson.
“Emerson, being an MPA-approved MFM system provider, has provided the Fuel Monitoring Bunkering systems onboard the EMF bunker vessels, and is glad to be involved in this SGTraDex initiative by EMF on digital bunker delivery notes,” says Yap Swee Choon, Site Leader for Emerson Process Management Marine Solutions Singapore Pte Ltd.
“We are delighted to partake in this milestone of Singapore’s bunkering history.”
Ms So Lay Hua, Head of Group Transaction Banking, UOB, said: “We are pleased to partner Equatorial Marine Fuel to drive digitalisation in the bunker industry. In an industry which traditionally relies heavily on the physical exchange of paper, going digital is key to enhancing efficiency and transparency.”
“The use of digital bunker delivery notes allows banks to verify the authenticity of the underlying bunker transactions, giving banks greater confidence when financing transactions.”
“With SGTraDex enabling connectivity across bunker suppliers, service providers and banks through a single data highway, transmission of data to multiple parties can be done in a rapid and secure manner. This is critical to streamlining data flow across the supply chain and UOB is confident that this data super highway will help deliver process efficiency for our clients.”
SGTraDex was introduced in 2021; its founding partners include the Infocomm Media Development Authority of Singapore, PSA International, Trafigura, DBS Group, Jurong Port, OCBC Bank, Ocean Network Express, Oiltanking, Pacific International Lines, Standard Chartered, and UOB.
Amongst use case scenarios of the digital infrastructure was to provide real time visibility by digitalising documentation and processes associated with the delivery of bunkers. This improved transparency allows companies to reconcile actual usage and helps bunkering players enhance their operational efficiency and financing, close to real time.
Manifold Times in July 2021 reported on Singapore’s live bunker delivery financing pilot transaction, in a prelude to the implementation of SGTraDex.
EMF in October 2020 launched its Online Tracking Tool, a free mobile responsive tracking tool for customers to check on the status of a bunker delivery.
See also: https://www.manifoldtimes.com/news/equatorial-marine-fuel-links-one-third-of-bunker-tanker-fleet-to-sgtradex-in-push-towards-trust-transparency/