Pricing is inherently one of the most opaque aspects of the bunker market, with transactions worth millions of dollars taking place with very limited visibility which affects shipowners. This limited visibility in part stems from the fact that currently there are no indexes or benchmarks that capture the market accurately, timely and widely enough to serve market participants in their day-to-day transacting. Most of the references available, cover only a selection of ports and are rarely based on actual transactions.  With varying assessment methodologies, often quite opaque themselves, and daily reporting on a backward-looking basis that fail to capture the intra-day movements which market participants are exposed to.

Leveraging the large amount of data the platform holds, ENGINE has the ability to assess and report market movements as they occur. This spares market participants the need to rely on indexes that, at best, capture the historical rather than the current market. Actual transactions are anonymised and recorded as they occur so platform users can form a judgement on how the market is behaving and adjust their decision making accordingly. Users can analyse each individual transaction or simply rely on ENGINE’s composite price which is an aggregation of all transactions taking place in real time.