World’s Largest Crude Oil Shipping Company Selects Next Generation Fusion CTRM Software
Antwerp, Belgium – 5th of September 2019
Fendahl’s Fusion CTRM solution has been selected by the world’s largest, independently quoted crude tanker platform, Euronav.
Euronav’s decision to establish a dedicated fuel procurement team within the business is a risk management manoeuvre in preparation of the upcoming IMO 2020 regulation changes. These changes will enforce a new 0.5% global Sulphur cap on fuel content from 1 January 2020. In order to support the trading activities created by the fuel procurement division, Euronav identified the need for a CTRM system.
After a competitive CTRM evaluation process was completed, Euronav selected Fendahl’s Fusion CTRM solution.
Critical requirements for Euronav were the ability to rapidly deploy the solution and, rich fuel trading functionality. Fusion’s modular, commodity specific functionality coupled with its modern architecture meant it was a clear fit. Fendahl was also able to demonstrate extensive commodity trading and risk management expertise and a detailed knowledge of industry business best practices.
Fendahl’s experienced professional services team are working in partnership with Euronav to successfully deploy the Fusion CTRM solution.
Euronav is an integrated owner, operator and manager able to provide complete shipping services in addition to the carriage of crude oil on its fleet of modern large tankers. Euronav's fleet includes FSOs, a V-PLus, VLCCs and Suezmax vessels which are either employed on the spot market or on long-term time charter.
Euronav is a founding member of the Tankers International VLCC pool which operates the largest modern fleet of VLCCs available today. Euronav vessels fly Belgian, Greek, French, Liberian, Marshall Islands and Panamese flag.
Fendahl Technology is a rapidly growing global CTRM software company with a dedicated team of over 100 staff with offices in the Americas, Asia, and EMEA, serving a growing global client base across multiple commodity segments. Fendahl offices are located in the London, UK; Houston, USA; Dubai, UAE, Singapore and Nagpur, India.
If you would like to see the advantages of a next generation CTRM solution then click here to learn more about Fusion CTRM.