Pricing is inherently one of the opaquest aspects of the bunker market, with transactions worth millions of dollars taking place with limited visibility in pricing which affects shipowners and suppliers alike. 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, their assessment methodologies are quite opaque themselves – reducing their usefulness – and their daily reporting on a backward-looking basis, fails to capture the intra-day movements that market participants require to conduct their trading.

Leveraging on the large amount of data that the platform captures, ENGINE has the ability to assess and report market movements as they occur, sparing market participants the need to relay on indexes that, at best, capture the market that occurred rather than the one that is happening. On ENGINE, actual transactions are captured as they occur, information is anonymized and made available in real time so other users can form a judgement on how the market is behaving and adjust their decision making accordingly. As the information is completely anonymized, using ENGINE, users can go as granular as analysing each individual transaction; or, for a more immediate high level view, just relay on ENGINE’s price assessment, which is formed just on the basis of the transacting that is conducted through the platform.