Measure and improve buying performance
Validate your procurement decisions with live benchmarking
See your performance clearly
Identify where you can save
Demonstrate your results
Track every purchase, uncover trends, demonstrate savings
Buying Overview
Performance Tracking
Procurement Insights
Report Generation
Data-driven bunker procurement
Frequently Asked Questions
Price benchmarking is automated and does not require any additional input from the user. Transactions are submitted into benchmarking upon booking the fuel and can be exluded from benchmarking by the user. Fuel prices are compared with the ENGINE bunker price benchmark at the time of receiving supplier quotes and the combined differences are displayed to indicate the amount of savings or overpayments to the user. Our platform allows the user to have a detailed view of buying performance by port and fuel grade.
ENGINE benchmarking is run on the ex-wharf basis for ports with ex-wharf prices. It is however possible to include service or brokerage fees for a more accurate comparison.
Benchmarking allows customers to identify how their procurement relates to the wider market that the ENGINE price benchmark is based on. Customers buying smaller fuel quantities at short notice are more likely to underperform against the benchmark, driven by operational and vessel size constraints. Likewise, customers buying larger quantities may consistently outperform the benchmark. In either case, the customer benefits from monitoring the direction of their performance and any deviation from the 'norm'.
Get started with ENGINE
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