Technology company ZeroNorth has announced today that it has acquired BTS, a software platform for marine fuel suppliers, headquartered in Singapore.
The deal will see ZeroNorth acquire BTS’s flagship suite of services, Intelligent Bunker Management System (iBMS), which is specially tailored for the marine fuel supply chain.
iBMS helps to increase the efficiency and profitability of marine fuel suppliers, traders, and brokers by digitalising 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 (MPA) under the Maritime Innovation and Technology Fund in the early 2000s.
“With the increasing pressure to digitalise and optimise 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,” said Kenneth Juhls, managing director of ZeroNorth Bunker.
“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.”
Following the acquisition, 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 optimisations across maritime operations.
“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 modernise our solutions to deliver greater user experience for our customers, and ultimately accelerate the digital transformation of the marine fuel industry,” said Dharma Sreenivas Reddy, founder and managing director of BTS.
In October of last year, ZeroNorth announced an AI-enabled fuel model for the shipping sector to help forecast the expected operational fuel consumption of any kind of vessel.