UASC Streamlines Fuel Purchasing
United Arab Shipping Company (UASC), a global shipping company based in the Middle East, has implemented Shiptech, an end-to-end fuel management system developed by global cloud software company Inatech.
Shiptech provides the company with an automated, cloud-based, fuel management system that transforms the way UASC buys bunker fuel.
Using Shiptech’s procurement, contract management and advanced reporting applications, UASC plans fleet level bunkering for its vessels, tracks vessel performance and improves negotiations with suppliers. Within the procurement application, specific features such as auto reconciliation of quantity and quality, as well as management of claims allows for an end-to-end management of UASC’s top cost item.
According to its developer, through seamless integration with UASC’s liner, financials and business reporting, Shiptech receives and shares data maximizing automation, facilitating management reporting and delivering operational efficiency.
The project reduces UASC’s reliance on manually intensive fuel purchasing processes and enhances information flow across the company, enabling faster and smarter decision making.
System customizations allow UASC to capture market prices from a variety of sources including Platts and Saudi Aramco, to track bunker barge performance and in the future to monitor the calorific value of fuel. Shiptech also integrates with UASC’s email software to ensure smooth supplier/company communications and with DNV laboratories to manage bunker fuel test results.
"UASC is in the process of implementing one of the industry’s largest and most technologically advanced newbuilding programs, with 17 new vessels. In order to manage our growing business and to cope with the increased fuel procurement requirements, we needed to move away from buying our fuel manually and put in place an end-to-end fuel management system,” said Waleed Al Dawood, chief operating officer at UASC. “Shiptech provided us with a cloud-based system that automates and integrates with our existing applications, is scalable to grow with our business and enables us to optimize the way we buy and manage fuel, ultimately driving improvements to our bottom line."
Jean Herve Jenn, CEO of Inatech , explained, "Shiptech is transforming the way ship operators buy fuel. By purchasing and customizing Shiptech, UASC now has a unique end-to-end fuel management system that minimizes the impact of fluctuating fuel prices, streamlines the bunker procurement process and delivers operational efficiencies across the company."
