Greek start-up cuts bunker procurement costs with digital tool

by 20, Jul, 2021Innovation, Maritime 4.00 comments

Greek start-up Nereus Digital Bunkers has launched an end-to-end digital bunker procurement platform, NEREUS, reducing bunker procurement costs by 7 per cent and workload by 30 per cent.

NEREUS is based on new technologies and supply of data including historical and live feed data, which changes current practices and contributes to the efficiency of employees in the maritime industry, the reduction of cost, and workload.

The research and development of the NEREUS platform are based on three pillars. Market research (indication prices, bunker matrix optimisation tool, oil forecasting), inquiry negotiation, and post fixture (automatic documentation- calling instructions, SOF, invoice monitoring, and bunker task reminders).

The NEREUS platform uses data analytics, oil price forecasting in real-time, and algorithms to enable the completion of the bunker procurement process in the most suitable port, at the right time, and with the proper supplier.

NEREUS can be 100 per cent customised to meet the needs of individual users. Data is stored via the cloud, offering reliable and easy access to an individual’s account.

The software is being continuously updated.

“By identifying that the maritime industry was facing a gap regarding the access and proper utilisation of data and keeping in mind that more and more shipping companies look forward to becoming digital, we created a maritime software that aspires to become the number one choice in the global maritime industry by improving and modernising the bunker procurement process. We focus on the efficiency and with all the technology and trends of the market, we create an efficient and cost-effective solution that maximizes value for our customers,” said Nikolas Gkikas, CEO and founder of Nereus Digital Bunkers.