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 April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

LNG Vessel with Wartsila Integrated Solutions Delivered to Evergas

The first in a series of 27,500 cbm 'Dragon' class vessels ordered by Evergas, a world renowned owner and operator of seaborne petrochemical and liquid gas transport vessels,

Executive Changes at Transocean

Transocean Ltd. today announced that, as mutually agreed with the company, Esa Ikaheimonen is stepping down as Executive Vice President and Chief Financial Officer effective immediately.

BMT, Endeavour Energy Win Africa’s LNG Import Terminal Contract

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavour Energy for the development

Fuels & Lubes

Shell Offers Smooth Transition to ECAs

Shipowners switching to low sulphur content fuels in line with their obligations in Emissions Control Areas (ECAs) have demanded confidence in the cylinder oils

New MD for Glander Int'l Bunkering (India)

Glander International Bunkering is proud to announce that Ajay Menon has been appointed as the Managing Director of Glander International Bunkering (India) Private Limited.

CAT’s New Dual Fuel Engine M 4G DF

At the beginning of 2015 the exhaust limit values for sulfur oxides (SOx) grew ever tighter in emission controlled areas. And with the start of 2016, nitrogen oxides

News

LNG Vessel with Wartsila Integrated Solutions Delivered to Evergas

The first in a series of 27,500 cbm 'Dragon' class vessels ordered by Evergas, a world renowned owner and operator of seaborne petrochemical and liquid gas transport vessels,

Executive Changes at Transocean

Transocean Ltd. today announced that, as mutually agreed with the company, Esa Ikaheimonen is stepping down as Executive Vice President and Chief Financial Officer effective immediately.

BMT, Endeavour Energy Win Africa’s LNG Import Terminal Contract

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavour Energy for the development

Consulting

Fugro Extends Contract with McDermott

Fugro has been awarded a three-year extension to its existing contracts with McDermott Middle East, Inc. The contract covers the provision of survey, positioning,

Wärtsilä wins BWMS Order for 3 Vessels

Wärtsilä has received another important order for its Ballast Water Management Systems (BWMS). Three new container ships being built for a major European shipping

Volume Up in Dutch Maritime Technology Sector

The Dutch maritime technology sector has had a good year. Turnover increased by 17%, from EUR 6.4 billion in 2013 to EUR 7.5 billion in 2014. The sector employed 31,680 FTEs, up from 29,361 in 2013.

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | 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: 0.1758 sec (6 req/sec)