SOURCE: Triple Point Technology

Triple Point Technology

March 10, 2011 00:01 ET

Ocean Tankers Selects Triple Point to Manage Chartering and Vessel Operations for Wet Bulk Commodities

SINGAPORE--(Marketwire - March 10, 2011) - Triple Point Technology, the global leader in commodity and enterprise risk management software, announced today that Ocean Tankers has licensed Triple Point's chartering and vessel operations software to manage all pre- and post-fixture activities for its wet bulk shipping operations. Ocean Tankers specializes in the transportation of petroleum and related products and provides worldwide coverage.

Incorporated in the Republic of Singapore in 1978, Ocean Tankers has over 2.3 million DWT (Deadweight tonnage) of carrying capacity and services a wide network of customers, including oil majors, state-owned oil companies, and international trading houses. The company manages a fleet of 83 vessels, ranging from small coastal vessels to large ULCCs (Ultra Large Crude Carriers).

"Shipping is a key element of an efficient and effective commodity supply chain, and Triple Point provides the only commodity management solution with the functional depth and breadth to handle voyage estimating, post-fix operations, bunker procurement, and freight risk management in its shipping platform," said Michael Lolk Larsen, managing director, chartering and vessel operations, Triple Point. "Triple Point is proud to include Ocean Tankers as a customer, and we look forward to supporting its growing operations."

Triple Point is successfully claiming market share with a diverse group of commodity participants, energy companies, industrial manufacturers, CP companies, and ship owners/operators that have selected Triple Point to manage the supply and distribution of commodities via ocean-going vessel, including: Bunge, Louis Dreyfus, Transgrain (Nidera), Olam International, Glencore, Gunvor International B.V., Hindustan Petroleum-Mittal Energy, SAB Miller, Petredec Limited, Prime East Shipping, Berge Bulk, Beluga, United Arab Chemical Carriers (UACC), and U-Sea Bulk.

About Triple Point Technology
Triple Point Technology® 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 12 offices and support centers around the globe. www.tpt.com.

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