– Close cooperation with the Maritime and Port Authority of Singapore (MPA) to leverage the extensive commercial track record of the Advanced Delivery Platform (ADP) with the leading Singapore design standards for digital communications across business and government stakeholders
– Aligned objectives with the MPA of bringing efficiency and transparency to the bunkering market via digitalization and real-time reporting
– Integration with local financial institutions and Singapore Trade Data Exchange, a common data highway supported by the MPA to facilitate trusted and secured data sharing across trade and supply chain ecosystems
SINGAPORE – 27 April 2022 – Facilitated by the Maritime and Port Authority of Singapore’s (MPA) regulatory sandbox, ADP Clear Pte Ltd is working to accelerate the introduction of digital bunkering to the world’s largest transshipment port.
“The digitalisation of the bunker delivery and documentation process is estimated to save the industry over 39,000 man-days annually and provide more transparency over the supply chain of marine fuels. MPA is working closely with bunker suppliers and solution providers to conduct digital bunkering trials. We look forward to having ADP as one of the solutions available to bunker suppliers in Singapore as we continue to enhance the efficiency and resiliency of our port,” said Kenneth Lim, Assistant Chief Executive (Industry), MPA.
More than 350 deliveries have been conducted over the ADP, resulting in nearly 1,000 hours of operational time savings, certainty over the quantity of fuel delivered, and real-time insights into bunkering operations from anywhere in the world.
The ADP’s design facilitates secure multiparty workflows and API-enabled integration across various stakeholders, including Singapore’s innovative common data exchange SGTraDex and financial institutions providing liquidity to the shipping and bunkering industries.
To help shape the continued development of the platform, ADP Clear Pte has undertaken a collaboration with OCBC Bank under which the Bank can provide input on the ADP platform and participate in user test trials alongside other industry players.
“We are excited about the vision to digitalise Singapore’s maritime ecosystem, which will increase productivity and transparency across commodity trade finance while mitigating fraud and waste. ADP Clear targets streamlining administration of and reducing risk across the operations, settlement, and potentially any financing of the bunkering industry, which align with our goals to enhance operational efficiency and build industry confidence through digital solutions,” said Ms. Ng Chuey Peng, Head of Global Commodities Finance, OCBC Bank.
ADP Clear Pte has commercialized an industry-first digital bunkering platform that facilitates the entire bunkering transaction lifecycle from procurement through physical delivery to invoice settlement. For additional information, please visit www.adpclear.io
Subscribe for updates
Simply add your email to receive news updates from Mercuria. You can unsubscribe at any time.
Share this article
Solutions to help your company reach net zero
Our team of specialists can provide the optimal solutions to help your business navigate the energy transition.