It is an open rating platform on which buyers of marine fuel bunkers can rate the suppliers and the vessels supplying the receiving vessels. It brings in possibility for shipowners to search for the best performing bunker barges, suppliers and traders in a specific area all over the world. The shipping industry is very traditional industry with very less technological tools being used and hence there is less transparency. Most shipowners in this very traditional industry are struggling with their marine fuel deliveries, as it is very easy for the suppliers and delivery vessels to give them low quality fuel which gradually effects the vessel life. Bunker trust is not only ratings and reviews platform, infact it captures timings, quantities, quantities and compare all these parameters with the market prices and benchmark those against the market.
The bunkering process is validated via algorithm, where a confirmation is sent to the receiving vessel. On the date of bunker delivery, a rating questionnaire is sent to the vessel, which they can complete online on the platform or off-line in a special form. Also, we have integrated Marine Traffic API to ensure that the receiving vessel actually came to close vicinity of Bunker for the required operations. These validations ensure that the right ratings are given and no fake listings are there. The system works as an integration platform that can be integrated with various other shipping platforms like ERP systems, Bunker purchasing systems. Other parameters captured by the system include - best supplier, the best bunker barge, the most efficient port and the highest quality deliveries. The application currently has 35 registered shipowners/operators, about 400 rating vessels, almost 4,000 ratings and about 1,000 suppliers/traders in. Currently the system is free to use for shipowners and operators to use. Along with providing transparency for the shipping industry, application provides lot of intelligence where tools like PowerBI are implemented to draw analytics which helps in further informed decision making.