SOURCE: Triple Point Technology

Triple Point Technology

November 16, 2010 09:04 ET

ULTRABULK Selects Triple Point to Manage Chartering and Vessel Operations for Dry Bulk Commodities

SAO PAULO, BRAZIL--(Marketwire - November 16, 2010) -  Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today that ULTRABULK has licensed Triple Point's flagship chartering and vessel operations software solution to profitably manage all pre-and-post fixture activities of its dry bulk commodity shipping operations. ULTRABULK focuses its activities in South America, North America, and Europe shipping cargos including grains, minerals, fertilizers, and steel products.

Triple Point's chartering and vessel operations software is based on mature, well-tested products obtained in its acquisition of Softmar -- now the chartering and vessel operations division of Triple Point. The shipping division serves over 80 blue-chip clients and more than 2500 users throughout North America, South America, Asia, and Europe.

ULTRABULK began operating in 1998 and is fully owned by Ultragas International. ULTRABULK is dedicated to worldwide sea-transport of dry bulk cargoes and carries approximately 6 million tons per year with a fleet of owned and chartered bulk carriers. The company is headquartered in Santiago, Chile.

"Triple Point's shipping software provides ULTRABULK with the functional depth and breadth they require to streamline operations, including voyage estimating, post-fix operations, bunker procurement, and freight risk management, in its shipping operations for dry bulk commodities," said Michael Lolk Larsen, managing director, chartering and vessel operations, Triple Point. "Triple Point is proud to include ULTRABULK as a shipping customer, and we look forward to supporting its growing commodity supply chain operations."

Triple Point is successfully claiming market share with a diverse group of commodity houses, 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: Maestro Shipping, Prime East, Berge Bulk, ULTRABULK, Practica Shipping, United Arab Chemical Carriers (UACC), Atlas Shipping, Navios Maritime, U-Sea Bulk, Oldendorff, Isaphia, Petredec Services, SAB Miller, Hindustan Petroleum-Mittal Energy, Gunvor International B.V., Louis Dreyfus, Bunge, Glencore, Transgrain (Nidera), and Olam International.

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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