Maritime start-up company BunkerTrace, which tracks marine bunkers, has signed a contract with Marfin Management. BunkerTrace offers a service to ensure bunker quality to shipowners, shipmanagers and charterers. Marfin Management operates eleven (11) bulk carriers and will be able to track bunker supplies by the assistance of BunkerTrace. BunkerTrace’s block-chain service will record compliant bunker supplies across Marfin Management’s fleet
In October 2019, Marc Johnson led BunkerTrace was formed to use synthetic DNA markers and register each bunker transaction on a block-chain based platform. BunkerTrace is able to trace any dilution of bunker fuels and provide an apparent chain of guardianship for excellent quality assurance.
Collaborating with BunkerTrace will assure that Marfin Management’s ships are compliant with IMO (International Maritime Organization) 2020 Rules. Hence, Marfin Management will be able to handle the risk of non-compliant or contaminated bunkers. Furthermore, BunkerTrace will gives Marfin Management a new level of confidence in ship fueling operation. Marfin Management is planning control the entire ship fueling process, from insurance and supply to physical bunker purchasing.
As shipmanagers have full responsibility for compliance across the entire ship fueling operation, BunkerTrace annexes special labels at particular points of the fueling operation, from ship terminals to bunker barges. This process will be approved and validated in real time onboard of the ship. Block-chain journal supply an audit track that can be used in front of judge if any disputes arises over quality or contamination of bunkers. After 1 January 2020, as the new rules of IMO (International Maritime Organization) 2020 are effective, new bunker suppliers entered the fuel market. So, the use of blended bunkers increased, prudent shipowners and shipmanagers want to cooperate with bunker tracking companies like BunkerTrace.