Time of bunkering process significantly reduced providing savings of thousands of dollars per day
OW Bunker, one of the world’s leading physical distributors and resellers of marine fuels, today announced significant efficiency benefits following the commencement of distributing fuel oil with an MPA-approved (Maritime and Port Authority of Singapore) Coriolis Flow Meter on-board its latest barge in Singapore, Marine Noel. The time to supply bunkers, which normally takes between seven and eight hours has been reduced by 50% by using the Coriolis Flow Meter, providing customers with significant time, and therefore, cost savings.
Sinanju Tankers Pte Ltd installed the MPA-approved Coriolis Flow Meter on Marine Noel, a 2012-built, 4, 700 DWT barge in June 2014. OW Bunker has found that in the two months since distribution started, significant efficiency benefits have been achieved. This includes removing potentially problematic manual processes and human error; ensuring any inefficient levels of air entrapment can immediately be detected and dealt with; delivering unparalleled transparency and accuracy, which eliminates disputes and claims and the additional time associated with this. The company has found that the bunkering process for the distribution of a typical 1, 000 mts (metric tonnes) stem, which normally takes between seven and eight hours, has been halved to three to four hours.
“Reducing the time to bunker by 50% provides our customers with significant time and cost savings, ” said Søren Christian Meyer, Vice President – Physical Distribution, OW Bunker.
“For example, a one year time charter for a VLCC, which has an average day rate of about US$24, 000 will save up to US$4, 000 in terms of time when bunkering with a Coriolis Flow Meter. That’s a significant amount in any market, and highlights the positive impact that marine fuel distributors can have on driving efficiencies into our customers’ operations.”
OW Bunker has pioneered the use of Coriolis Flow Meters on its global fleet for many years to ensure customers receive the quantity of product that they order. This is part of OW Bunker’s strategy to expand and deliver real value for its customers from its physical distribution operations on a global basis.
About OW Bunker:
OW Bunker is a leading global independent marine fuel (bunker) company founded in Denmark in 1980 with operations in 29 countries, including the world’s busiest and most important ports. OW Bunker acts as a physical distributor as well as reseller of marine fuel, and operates a global fleet of around 30 bunker vessels. OW Bunker also provides advanced risk management solutions aimed at controlling costs, minimising risk and protecting against market fluctuations. Headquartered in Nørresundby, Denmark, OW Bunker is listed on the NASDAQ OMX Copenhagen and has over 600 employees globally. Read more on www.owbunker.com