Mustang Technologies Takes on FuelTrax

MarineLink.com
Wednesday, October 16, 2013
Chuck Kathrein

Nautical Control Solutions, LP (NCS) announced that Marine Fuel Management (MFM) systems consultant Mustang Technologies has been signed as an official representative in the Asean Free Trade Area (AFTA).

“We are delighted to be appointed a FuelTrax representative,” said Mr. Charles Kathrein, CEO Mustang Technologies. “While various sections of the shipping industry in Asia Pacific have been suffering from low rates, high fuel costs and overcapacity, the offshore support vessel (OSV) industry has been growing rapidly with the fleets themselves getting younger. Offshore petroleum and natural gas production has witnessed rapid growth in recent years, driven by a wide range of geographic developments. Oil majors who charter OSV’s are increasingly requesting greater transparency regarding bunkering and fuel consumption for vessels under charter. FuelTrax collects the required bunkering and fuel consumption data without human intervention and the FuelNet reporting tool provides web access to bunkering and fuel consumption activities for all stakeholders, e.g. owners, vessel management companies, and those who pay for the fuel. We are seeing a greater market acceptance of FuelTrax and FuelNet within the AFTA region as key stakeholders demand reliable data gathering and transparent management reporting. Additionally, Protection and Indemnity (P&I) Clubs have told me that implementation of FuelTrax and FuelNet may reduce premiums due to the increased transparency. This is a most interesting subject and warrants increased investigation.”

Mr. Kathrein continued, “The OSV market for FuelTrax in Asia Pacific is large and growing. The Malaysian Offshore Support Vessel Owners Association includes 198 OSVs. Indonesia also has a large fleet of OSVs. The local challenges we face include vested interests who profit from the status quo and owners who lack understanding of the return-on-investment and rapid payback from implementing a FuelTrax solution. Mustang Technologies intends to continue to evangelize FuelTrax as a strategic market differentiator for vessel owners so that they can provide the transparency that their customers desire while increasing charter opportunities.”

“Mustang has been a leading local voice in the promotion of marine fuel management as a needed and necessary management discipline in today’s market,” said Anthony George, CEO of NCS. “As fuel prices remain high and volatile, owners and operators must find ways to accurately measure and report fuel usage across a fleet and then easily identify areas where quick improvements can be made. Simply installing flow meters and a display into a vessel’s fuel system does not provide management insight on how a vessel uses fuel and what activities impact that usage. We are particularly excited to have Mustang join us as they not only understand the discipline of MFM but also the technology to properly support MFM decision making. After ten years in the business, we can spot the winners and we anticipate a big expansion in the region.”

fueltrax.com

mustang-technologies.com
 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MHI to Change Name of Group Company

Effective November 1 Mitsubishi Heavy Industries, Ltd. (MHI) will change the name of its group company in Singapore from Mitsubishi Heavy Industries Engineering & Services Private Ltd.

Petrobras P-66 Platform Module to Boost Production

The P-66 platform’s first modules, built at the Tomé Ferrostaal Consortium’s Module Plant located at the Port of Maceió, Alagoas, are now ready and loaded on the São Tomé barge.

Exmar Optimistic About Gas Carrier Market into 2015

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter

News

USCG Cutter Diligence Returns

The crew of Coast Guard Cutter Diligence returned to Wilmington following a 45-day patrol in the Caribbean Sea. While on patrol, Diligence served as the

Southern California Port Congestion

Hapag-Lloyd informs about the congestion at the ports of Los Angeles and Long Beach that has reached a critical point. I. Several container ships are anchoring

GAC Starts Green Hull Cleaning Operations in Oman

Oman’s Ministry of Environment and Climate Affairs has granted GAC EnvironHull permission to conduct underwater hull cleaning operations using the brush-and-diver-free

Consulting

SMC to Provide Marine Coordination for Siemens

Specialist Marine Consultants Ltd (SMC) have been working with Siemens, providing offshore marine coordination for a fifth Siemens Wind Power construction project.

Good Performance by Dun & Bradstreet in 3Q 2014

Dun & Bradstreet, the world's leading source of commercial information and insight on businesses, today reported results for the third quarter ended September 30, 2014.

Schlumberger Introduces New Well Integrity Service

Schlumberger announced today the release of Invizion Evaluation* well integrity service, which helps operators evaluate zonal isolation by using integrated drilling, cementing and well logging data.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2263 sec (4 req/sec)