Closelink introduces S&P Global Commodity Insights data integration to its bunker procurement platform enabling comprehensive price benchmarking and index-based contract management.
Following the success of the procurement platform for marine lubricants, Closelink has recently expanded its product range towards a solution for global bunker procurement. The platform is now supported by S&P Global Commodity Insights, a leading provider of benchmark prices and independent insights to help navigate the complex world of the bunker fuel market. “By introducing Platts data integration to Closelink’s bunker procurement solution, we can ensure that the high-value data provided by S&P Global Commodity Insights is available exactly when and where our customers need it. The Closelink platform is a unique and efficient channel to directly meet our users’ needs” says Joerg Gerth, Vice President, Channel Partners at S&P Global Commodity Insights.
Closelink offers a one-stop procurement solution for fuels, increasing transparency, streamlining the ordering process, and facilitating data-driven decision making to reduce costs, save time and improve overall efficiency in fuel procurement for businesses. Thanks to the integration of Platts market data indices, the Closelink platform’s users gain a seamless and comprehensive comparison of all actual prices available to them across several ports, products, and suppliers, all in the blink of an eye. This latest feature eliminates the need for independent cross-checking of the Platts index or time-consuming calculations of negotiated bunker contract prices.
The collaboration is a major step towards the optimization of fuel purchasing activities but also marks an important milestone in Closelink’s history of demonstrating industry leaders’ confidence in its digital solutions. “We are determined to continue helping our users to leverage the highest quality data to identify saving opportunities, and manage price risks more effectively using innovative technology,” says Philippe Lavarde, co-founder and CEO of Closelink.