BunkerTrace, owners of the marine fuels tracking solution, has announced its first commercial partner, ship manager Marfin Management. The Monaco-based firm will use BunkerTrace to track marine fuel using synthetic DNA markers at specific points of the supply chain and record each transaction in a blockchain-based solution.
This new partnership demonstrates the readiness of the BunkerTrace solution to transform how businesses comply with the International Maritime Organization’s (IMO) 2020 sulphur cap. The solution, which launched in October last year, enhances marine fuel traceability and provides a clear chain of custody for better quality assurance in the bunker fuel supply chain.
“With the implementation of the IMO sulphur cap, owners, managers and fuel suppliers need to manage their fuels with greater scrutiny,” said Marc Johnson, CEO at BunkerTrace.
“As several new players enter the bunkering market and the use of blended fuel increases, it’s more important than ever that owners and managers have confidence in the fuel they are buying and loading. We believe Marfin Management is very well placed to be the first mover with our solution and we’re delighted to be collaborating with them.”
Marfin Management, which has managed and operated handymax to ultramax dry cargo vessels since 1926, will adopt this powerful tool to manage the risk of non-compliant, or even potentially dangerous contaminated marine fuels, being used on its ships.
“We’re delighted to form this alliance with BunkerTrace to ensure our vessels are compliant with IMO 2020 and to manage the risk of non-compliant or contaminated fuel,” said Alex Albertini, Marfin Management CEO.
“As managers, we have a responsibility for safety and compliance across the whole bunkering process and working with BunkerTrace gives us a new level of confidence in how we do that.”