New online platform offers real-time bunker trading

Hong Kong-based Brightoil Petroleum has launched the latest phase of its e-commerce platform, offering real-time online bunker trading, which is expected to transform fuel trading procedures, the company claims.

The online platform, named Brightoil Bunker Online, is a live feed of forward fixed prices (FFP) up to nine months ahead, with constant update of prices.

Through the platform, a bunker buyer can send an inquiry and suppliers will put up their offers, and then, costumers can lock in the price and get actual delivery.

In this way, the platform targets to boost global bunker trading, through greater transparency with managing costs, lock-in of prices, direct contact of suppliers and buyers and faster processing of inquiries.