SOURCE: Triple Point Technology

Triple Point Technology

September 23, 2010 09:00 ET

Navios Maritime Selects Triple Point Software for Freight Risk Management

WESTPORT, CT--(Marketwire - September 23, 2010) -  Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today that Navios Maritime Holdings, Inc. has selected Triple Point's Freight Risk Management™ solution to manage derivative trading.

This announcement follows Triple Point's recent acquisition of Softmar, the premier provider of software solutions for commercial chartering and vessel operations. Adding shipping to Triple Point's commodity trading and risk management solution set provides companies with an all-encompassing view of the enterprise. With the acquisition, Triple Point's ability to provide market-based supply chain solutions, including freight rate risk management, is unmatched.

Navios is one of the leading global brands in seaborne shipping, specializing in the worldwide carriage, trading, storage, and related logistics of international bulk cargos. As a carrier, Navios operates principally handymax and panama bulk carriers, deploying owned, chartered, and lease vessels. Navios helps business partners who own or operate vessels reduce costs and manage risk by providing vessel, cargo, and fuel hedging strategies.

"In an increasingly volatile marketplace, cost containment and risk management are major priorities for vessel owners and operators," said Michael Larsen, managing director, chartering and vessel operations, Triple Point. "Triple Point provides its customers with a comprehensive solution suite for commercial vessel operations and freight risk management that reduces exposure to adverse trends and volatility and helps control shipping and fuel costs. We're pleased to welcome a customer of Navios' caliber to our shipping portfolio."

About Triple Point Technology
Triple Point is the leading global provider of innovative software solutions to efficiently and profitably manage commodities and enterprise risk. Triple Point's growing, loyal customer base of over 260 companies represent all industries with exposure to energy and raw materials including oil and gas, coal, metals, agriculture, transportation, shipping, consumer products (CP), discrete manufacturers, and big box retailers. The company was named a 'Leader' in Gartner's ETRM Magic Quadrant for its completeness of vision and ability to execute. Triple Point offers the only real-time solution to manage market/price, counterparty credit, operational, and regulatory risk on a tightly integrated platform. Founded in 1993 and headquartered in Westport, CT, USA, Triple Point employs over 600 people in 11 offices and support centers around the globe.

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