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

People & Company News

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Fednav Celebrates Anniversary Trio in Cleveland

Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th

Karl Senner Inks Distribution Deal with Electronic Power Design

Karl Senner, LLC (KS) has reached a new strategic representation agreement with Electronic Power Design (EPD). Karl Senner, LLC now represents EPD in the United States marine and offshore Markets.

Fuels & Lubes

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

MSC Approves SOLAS Amendments

SOLAS amendments to make IGF Code mandatory approved by Maritime Safety Committee   The International Maritime Organization’s (IMO) Maritime Safety Committee (MSC),

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

News

ClassNK Approves Niigata Dual-fuel Engine Design

Classification society ClassNK has granted approval to the design of the new 28AHX-DF dual-fuel engine developed by Niigata Power Systems Co., Ltd. The new engine

MacGregor Deck Equipment for Intership's Eco-bulkers

MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers.

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Consulting

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

BMT Supports Samalaju Port Development

BMT subsidiaries in the Asia-Pacific region have been awarded a contract to provide design expertise for an advanced bulk-material handling system for the emerging port of Samalaju in East Malaysia.

UniMarine Opens Office in Pireaus

UniMarine announced the opening of its new office UniMarine South Europe & Mediterranean. Located in Piraeus (Greece), the office will be servicing the Southern

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Shipbuilding / Vessel Construction Winch
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: 0.3933 sec (3 req/sec)