Tuesday, April 24, 2012

Japanese Group Choose US Software to Manage Freight Risk and Vessel Chartering

Connecticut Group to Supply Marubeni Corporation
Shipping News Feature

JAPAN – US – WORLDWIDE - Triple Point Technology® (TPT) the Connecticut based software provider has revealed that Tokyo headquartered trading group Marubeni, whose interests range from energy, metals and minerals to food and textiles with a presence in 68 countries, are to adopt TPT cloud-based shipping software for chartering, vessel operations, and freight risk management.

TPT says Marubeni chose Triple Point Chartering and VesselOps™ because it offers a fully integrated platform for managing chartering, post-fixture activities, and the financial aspects of vessel operations. The system provides a global view of vessel movements, market cargo availability, and existing cargo commitments which TPT says enables commercial maritime customers to make more informed and proactive decisions, streamline day-to-day operations, and protect profits.

TPT supply cloud and base technology to enable commodity management and Chartering and VesselOps is used to manage commercial shipping operations at over eighty companies with 2,500+ users across the globe. Customers include Alfred Toepfer, Bunge, Kuok Group, Louis Dreyfus Commodities, Viterra, and Ultrabulk.

Marubeni recently settled with the US Department of Justice following an investigation into the bribery of officials in Nigeria LNG Ltd. a government linked company after the Japanese firm acted on behalf of the TSKJ consortium to ensure the construction of an LNG facility in the country. Marubeni agreed to pay a penalty of US$54.6 million for their part in the illicit deal with prosecution deferred for two years whilst its partners in the scheme received very much higher penalties.