SGTraDex facilitates digital transfer of data for the first biofuel trade between Chevron and Ocean Network Express (ONE)
SINGAPORE, Feb. 21, 2023 /PRNewswire/ -- SGTraDex supported the transaction of bio marine fuel between Chevron and ONE.
The transfer of 992.2MT VLSFO-B24, Bio fuel in 6 and 7 P and S Deep Tanks took place on 21 December 2022 between Chevron Pte Ltd and MOL Endowment, a vessel operated by ONE.
Accompanying the transaction were also exchange of documents such Certificate of Quality, Bunkering Sales Confirmation, Bunker Delivery Note, Bunkering Sales Invoice (Delivery) and supporting documents like Mass Flow Meter (MFM) receipts, MFM seals checklist, meter recording form and International Sustainability and Carbon (ISCC) Certification, all of which securely exchanged through SGTraDex between ONE and Chevron.
"With the maritime sector's drive towards lowering greenhouse gas (GHG) emissions, we are starting to see accelerated pivots towards a new generation of alternative sustainable fuels," said Antoine Cadoux, CEO SGTraDex Services.
"ONE is happy to partner SGTraDex and Chevron on this biofuel transaction as it aligns with our efforts in digitisation and sustainability. At ONE, we believe that digitisation will help the industry be more future ready and efficient. To get there, collaborations across industry players on initiatives like these are important to help pave the way for a greener future," said Takashi Kase, Senior Vice President of Global Vessel Operations, Fuel and Marine Safety & Quality at ONE.
SGTraDex plays hosts to a broad spectrum of industry players in the maritime sector, including representation from banks, traders, licensed bunker suppliers, terminal operators and more. By leveraging on this network, SGTraDex is able to link "data islands" – a result of disparaged digitalisation efforts – by allowing participants to strike up data exchange with one another through a consent-based system.
SGTraDex integrates directly with participants' own solutions as well key industry solution providers, which makes for an almost turn-key solution and minimises disruption to pre-established workflows.
"As a forward-looking data sharing infrastructure, SGTraDex's scalability and neutrality means we are able to adapt to new workflows rapidly to support pilot initiatives for companies' net-zero journey such as this transaction of biofuel between ONE and Chevron," Antoine said.
About SGTraDex
Launched on 1 June 2022, the Singapore Trade Data Exchange (SGTraDex) is a digital utility that facilitates the sharing of data between supply chain ecosystem partners, streamlining information flows through a common data highway where data can be shared in a trusted, secure and inclusive manner.
SGTraDex uses proprietary technology anchored through a public-private partnership model to resolve pain points in supply chain ecosystems including a heavy reliance on a paper-based system which lacks efficiency, transparency and sustainability. The move to digitise information will increase productivity and build supply chain resilience. New efficiencies and opportunities will be unlocked when ecosystem partners can collaborate to achieve a shared visibility of the end-to-end supply chain. For more information, visit sgtradex.com
