News and Press Releases

USTC acquires tech platform BunkerEx

March 29, 2020

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Group Communications

Phone: +45 7879 8228

press@ustc.dk

 

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USTC announced today that the Group has acquired BunkerEx with the objective to step up and streamline digitalisation activities across USTC companies.

USTC remains committed to its ambition of intensifying and advancing the USTC companies’ digitalisation activities, which is an impending step in the Group’s journey to evolve and optimise all areas of the business

.BunkerEx caters to digitalisation and transparency within logistics and transport. Furthermore, BunkerEx provides accessibility and optimisation of online platform for fuelling costs, which makes it the ideal fit for USTC activities within the shipping and logistics industries.

“The acquisition of BunkerEx is a testament to our ambition to digitalise and be at the forefront of innovation and new technologies within the industry. We see great potential in BunkerEx and the team behind it, and we are already in talks about future plans to replicate the technology to other products and segments, thereby making it available and relevant to more USTC companies. This will enable us to continue the digital transformation that delivers seamless solutions for all Group stakeholders, and which is an inevitable enabler of industry innovation,” says Nina Østergaard Borris, owner and COO of USTC.

BunkerEx was founded in 2018 by current CEO Ishaan Hemnani and CTO Willem Muller with a vision to combine traditional bunker broking services with cutting edge technology. Since, the company has accelerated its performance and reputation as a serious and highly professional online bunker broker.BunkerExfunctions as an online automated pricing tool and is integrated with the WhatsApp app. The setup enables clients to track physical and forwardbunker prices every millisecond, while also giving clients the flexibility to change ports, dates, quantity, or even vessel. In addition, BunkerEx offers a fast tool to find optimal bunker ports when planning transportation.

“I am extremely proud to start this new chapter together with USTC, and I look forward to joining a highly professional organisation with an aspiration to be at the forefront of digitalisation within the industry. My ambition is to continue to create valuefor USTC companies on their digital transformation journey and to ensure we stay as industry frontrunners,” says Ishaan Hemnani, founder and CEO of BunkerEx. 

BunkerEx will continue to operate its offices in London, UK, and Castelldefels, Spain.The transaction price will not be disclosed.

Media enquires

Group Communications

Phone: +45 7879 8228

press@ustc.dk

 

Terms of user for images

Please note that USTC Group owned images may only be used in editorial publications.

United Shipping & Trading Company (USTC) is represented in more than 35 countries through the groups’ activities in Oil & Energy, Shipping, Door-to-Door Logistics, Risk Management & IT. The family-owned group was founded in 1876 and today consists of well-known companies such as Bunker Holding, SDK Freja, Uni-Tankers, Selected Car Group and Unit IT – operating out of 130 offices with more than 3,500 employees worldwide. Headquartered in Middelfart, Denmark, USTC’s equity stands at over DKK 3 billion with a turnover of DKK 76 billion in the last fiscal year.