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Bunker trace: Tracking of fuel trade on the Blockchain

has completed A pilot project for a System to make the supply chain of fuel in the shipping industry more transparent and secure, successful. "Bunker trace" w

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Bunker trace: Tracking of fuel trade on the Blockchain

has completed A pilot project for a System to make the supply chain of fuel in the shipping industry more transparent and secure, successful. "Bunker trace" with the Blockchain-technology for a constant and secure documentation through the entire supply chain. The System has the Potential to revolutionize the market for fuels and lubricants in the area of shipping.

From Stefan Schäfges
5. October 2019 BTC$7.988,09 -1.69% part Facebook Twitter LinkedIn xing mail

bunker trace monitored by a synthetic DNA-Marker of the quality of the marine fuel, and uses the Blockchain technology to ensure transparent documentation. The Test consisted of Loading a bunker vessel with fuel. It is a cooperation of the companies Bebeka, Boskalis and Minerva Bunkering. Bebeka, a cooperative of the shipping industry and makes the purchase of fuel and lubricants for their members. Boskalis is a Netherlands public limited company and in the seebagger business. Minerva Bunkering is a provider of marine fuels, and bunker services, based in Piraeus, Greece.

The Blockchain for a consistent and transparent environmental protection

The pilot emerged from the new fuel regulation IMO2020, the from 1. January 2020 is valid. Thereafter, the sulfur may be content in the ship fuel, only a maximum of 0.5 percent. Currently, the limit is 3.5 per cent. The rule is a first step to the world's marine pollution.

For the Test of bunker trace was fed during the uplift of the Minerva-bunker vessel a synthetic Tracer in the fuel line. Through the Tracer, the quality of the fuel can be documented very carefully. Furthermore, bunker trace this procedure, combined with Blockchain technology to the documentation of the supply chain. Because this is done via a constant "Audit Trail" that is created to each Phase and change in the supply chain.

This transparent and unchanging documentation to create trust and safety for suppliers, customers, ports and insurers. In addition, a crew can monitor during the entire bunker process, the quality and, if necessary, act.

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Marc Johnson, the CEO of the bunker to trace comments to make:

After the epidemic of poor bunker fuel last year, it is not surprising that owners, insurers and operators Worry about the quality of the fuel. This successful Test shows that there is a simple and reliable means, in order to achieve a level of transparency and traceability in the supply chain that existed previously.

Harry Vasse, Director-General at Bebeka added:

The management of the energy procurement now and in the future, the highest priority for us. Here, it comes to sustainability, transparency and the environment.

However, the Blockchain technology is in the shipping of high quality. BTC-ECHO had already reported in January about the Israeli shipping company Zim, which opened a Blockchain platform for electronic bills of lading. The logistics-travel, Maersk, together with IBM created the TradeLens-platform, the sizes belong to now various industry.

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