Freight Investor Services (FIS) and Engine Technologies (ENGINE) are delighted to announce a new data sharing partnership, bringing together their respective expertise on bunker futures and physical markets.
The partnership, due to go live 17th May, will see physical and future derivative prices on fuel oil products available on both the FIS Live and ENGINE platforms. This will bring together the leading provider of marine fuels derivatives and the most comprehensive bunker digital platform.
Kerry Deal, Head of Business Development at FIS, said that: ‘It’s been a true pleasure to work with ENGINE, to pair our longstanding expertise on the derivatives market with the world’s most comprehensive platform for marine fuel. This is really a partnership that benefits customers on both sides, allowing full price transparency, physical purchasing, and futures hedging ability across bunker products. This is something we have heard customers request again and again, and with this partnership we’ve delivered on that request.’
FIS Live is Freight Investor Services’ award-winning commodity derivative app, giving you forward pricings on freight and bulk commodities. Currently boasting a wide range of freight and commodity derivatives – such as Dry FFAs, Container Freight, Bunkers, Iron Ore and Fertilisers – FIS Live goes beyond other platforms by offered a complete holistic view of the commodity complex.
Ove Munthe-Kaas, Business Development at ENGINE: ‘We are incredibly excited to announce our partnership with FIS and being able to provide our customers with real time pricing on the main future contracts in the key bunker hubs. The partnership allows us to build on the transparency that ENGINE brings to the bunker space and which we feel will inevitably benefit the end user. We are building a community of shipowners and suppliers that collaborate and communicate with each other through the platform, and the partnership with FIS is a great addition to this community.’
ENGINE is a unique technology platform built by industry experts, data scientists and software developers, enabling all participants in the bunker space to evaluate, develop and benchmark fuel procurement strategies. The platform is powered by hundreds of real bunker transactions captured and processed every day, thousands of fuel quality tests, real-time AIS tracking as well as a continuous news flow, that affords customers the best bunker market intelligence in the web browser and on the mobile app.
Luke Longhurst, Head of Fuel at FIS: ‘As always on the FIS Bunker desk we are looking at ways in which we can offer an enhanced service to our clients and we are really excited to have partnered with ENGINE. We are pleased to be able to share our data in what we believe will enhance the user experience of both platforms, offering a more complete picture of the entire physical and paper bunker landscape. We hope that our customers engage with the App and data available to them and utilize the transparency that is on offer. My team and I are ready to help and answer any questions that customers might have and look forward to engaging with you all and hearing your feedback as we look to continue to push forward as a desk in the services that we can offer.’
As part of the agreement FIS will be providing real time pricing on the main future contracts for Singapore and Rotterdam Very Low Sulphur Fuel Oil (VLSFO) as well as High Sulphur Fuel Oil (HSFO) prices, plus their gasoil 10ppm equivalents for the ENGINE platform. In return, ENGINE’s physical pricing for HSFO, VLSFO and LSMGO fuel oil in Rotterdam, Singapore, Houston and Fujairah will now be available on FIS Live. In addition, both companies will be aiming to share market intelligence and analysis content across both platforms.
Source: Freight Investor Services (FIS)