Sedna, an intelligent operational system for maritime transport, has partnered with Nereus, an intelligent fuel and lubricant supply platform, to incorporate market fuel prices into discussions related to voyage decisions. Nereus's fuel price application, which is currently active in the approved app market of Sedna, allows chartering, operational, and fuel supply teams to view daily prices for over 450 ports and six types of fuel directly in Sedna's email.
The Importance of Fuel Prices in Maritime Voyages
Fuel prices shape the economics of each maritime voyage. Changes in price can affect the profitability of a trip and impact fuel supply and the type of vessel chartered. Previously, chartering and operational teams had to obtain these prices separately through a broker, supplier, or market information service and then relay them into email discussions related to voyage negotiations.
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The Merger of Sedna and Nereus
The merger of Sedna and Nereus fills this gap. Nereus covers the entire fuel supply cycle, from market research and request management to negotiation and post-contract execution. With this merger, Nereus updates fuel price indicators daily and automatically sends them to Sedna's email. Users can view daily prices for HSFO, VLSFO, LSMGO, ULSFO, LNG, and biodiesel, with each type of fuel displayed at the ports where it is available.
Bill Dobie, founder and CEO of Sedna, said, "Maritime decisions are made under time pressure, and information is scattered among email inboxes, spreadsheets, and specialized tools. We provide critical information at the moment it is needed to teams."
Nikolas Gkikas, founder and CEO of Nereus, added, "Fuel costs determine the outcome of a voyage, and this cost is estimated before the vessel arrives at the port. This cost accounts for 40 to 60 percent of the total cost of a trip, so prices must be accurate and up-to-date."
Nereus's fuel price application is currently available in Sedna's approved app market. Sedna users can view daily prices for the top 20 ports for free, while full access may be available through a Nereus subscription.
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