ZeroNorth acquires BTS, propelling decarbonization of marine-fuel industry
Technology company ZeroNorth announced Feb. 21 that it has acquired BTS Pte Ltd., a software platform for marine-fuel suppliers headquartered in Singapore.
The deal will see ZeroNorth acquire BTS’s flagship suite of services, iBMS (Intelligent Bunker Management System), which is software specially tailored for the marine fuel-supply chain.
iBMS helps to increase the efficiency and profitability of marine-fuel suppliers, traders and brokers by digitalizing their business processes through eliminating unproductive tasks, automating work processes, greater sharing of information and enhancing decision making.
iBMS was one of the first projects supported by the Maritime and Port Authority of Singapore under the Maritime Innovation and Technology Fund in the early 2000s.
BTS is also the leading company within an industry consortium of seven organizations that has been tasked with developing mobile applications for bunkering documentation and workflows, as awarded by the MPA’s digital-bunkering call for proposals in January 2022.
ZeroNorth will build a fully cloud-based iBMS solution, which will improve the overall offering to current and future clients.
The service will eventually be incorporated into ZeroNorth’s unified platform for optimizations across maritime operations.
The ZeroNorth platform functions as a collaboration point, where a seamless flow of data breaks down existing silos between stakeholders and enables total visibility and alignment around shared goals.
BTS brings more than 15 years of market expertise and marine fuel trading and supply processes to ZeroNorth, as well as a well-established presence in Singapore, the largest global marine-bunkering hub.
The ambition is to also expand these improved marine-fuel services for suppliers to other global ports.
The acquisition supports ZeroNorth’s growth strategy and focus specifically within the marine-fuel industry and follows the acquisition of Prosmar Bunkering just three months ago.
ZeroNorth is dedicated to accelerating the digitalization and decarbonization of the marine-fuel industry by providing more accurate fuel prices and contextual insights that enable more sustainable strategies for bunker procurement, storage, blending and selling.
“The marine-fuel industry is taking center stage in shipping’s green transition,” said Kenneth Juhls, the managing director of ZeroNorth Bunker. “With the increasing pressure to digitalize and optimize your marine fuel-supply chain, and the influx of alternative-fuel options becoming available, equipping our customers with the ability to make better decisions in regards to procuring, storing and selling fuel is becoming a key priority for ZeroNorth. By acquiring BTS, we are taking the next step towards delivering an end-to-end marine-fuel service that aligns all stakeholders across the same data through the ZeroNorth platform. Moreover, by building a bridge between stakeholders, we are increasing collaboration across the maritime value chain and accelerating our goal to drive decarbonization alongside the wider industry.”
Dharma Sreenivas Reddy, founder and managing director of BTS, added, “BTS is proud of the value we deliver to the marine fuel-supply chain through our end-to-end solutions. This partnership with ZeroNorth will enable us to modernize our solutions to deliver greater user experience for our customers, and ultimately accelerate the digital transformation of the marine-fuel industry.”