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Sunday, April 18, 2021

Maritime Logistics Professional

March 30, 2021

USTC Puts Digitalization on the Fast Track with BunkerEx Acquisition

© vladsv / Adobe Stock

© vladsv / Adobe Stock

USTC has acquired BunkerEx in a move to step up and streamline digitalization activities across USTC companies.

BunkerEx caters to digitalization and transparency within logistics and transport, providing accessibility and optimization of online platform for fueling costs.

“The acquisition of BunkerEx is a testament to our ambition to digitalize and be at the forefront of innovation and new technologies within the industry. We see great potential in BunkerEx and the team behind it, and we are already in talks about future plans to replicate the technology to other products and segments, thereby making it available and relevant to more USTC companies. This will enable us to continue the digital transformation that delivers seamless solutions for all Group stakeholders, and which is an inevitable enabler of industry innovation,” said Nina Østergaard Borris, owner and COO of USTC.

BunkerEx was founded in 2018 by current CEO Ishaan Hemnani and CTO Willem Muller with a vision to combine traditional bunker broking services with cutting edge technology. Since, the company has accelerated its performance and reputation as a serious and highly professional online bunker broker.

BunkerEx functions as an online automated pricing tool and is integrated with the WhatsApp app. The setup enables clients to track physical and forward bunker prices every millisecond, while also giving clients the flexibility to change ports, dates, quantity, or even vessel. In addition, BunkerEx offers a fast tool to find optimal bunker ports when planning transportation.

BunkerEx will continue to operate its offices in London, U.K., and Castelldefels, Spain. The transaction price was not disclosed.