Nautical Control Solutions, LP (NCS) announced today that Marine Fuel Management (MFM) systems consultant Mustang Technologies has been signed as an official representative in the Asean Free Trade Area (AFTA).
“We are delighted to be appointed a FuelTrax representative,” said Mr. Charles Kathrein, CEO Mustang Technologies. “While various sections of the shipping industry in Asia Pacific have been suffering from low rates, high fuel costs and overcapacity, the offshore support vessel (OSV) industry has been growing rapidly with the fleets themselves getting younger. Offshore petroleum and natural gas production has witnessed rapid growth in recent years, driven by a wide range of geographic developments. Oil majors who charter OSV’s are increasingly requesting greater transparency regarding bunkering and fuel consumption for vessels under charter. FuelTrax collects the required bunkering and fuel consumption data without human intervention and the FuelNet™ reporting tool provides web access to bunkering and fuel consumption activities for all stakeholders, e.g. owners, vessel management companies, and those who pay for the fuel. We are seeing a greater market acceptance of FuelTrax and FuelNet within the AFTA region as key stakeholders demand reliable data gathering and transparent management reporting. Additionally, Protection and Indemnity (P&I) Clubs have told me that implementation of FuelTrax and FuelNet may reduce premiums due to the increased transparency. This is a most interesting subject and warrants increased investigation.”
Mr. Kathrein continued: “The OSV market for FuelTrax in Asia Pacific is large and growing. The Malaysian Offshore Support Vessel Owners Association includes 198 OSVs. Indonesia also has a large fleet of OSVs. The local challenges we face include vested interests who profit from the status quo and owners who lack understanding of the return-on-investment and rapid payback from implementing a FuelTrax solution. Mustang Technologies intends to continue to evangelize FuelTrax as a strategic market differentiator for vessel owners so that they can provide the transparency that their customers desire while increasing charter opportunities.”
“Mustang has been a leading local voice in the promotion of marine fuel management as a needed and necessary management discipline in today’s market” said Anthony George, CEO of NCS. “As fuel prices remain high and volatile, owners and operators must find ways to accurately measure and report fuel usage across a fleet and then easily identify areas where quick improvements can be made. Simply installing flow meters and a display into a vessel’s fuel system does not provide management insight on how a vessel uses fuel and what activities impact that usage. We are particularly excited to have Mustang join us as they not only understand the discipline of MFM but also the technology to properly support MFM decision making. After ten years in the business, we can spot the winners and we anticipate a big expansion in the region”.
The onboard FuelTrax system (fueltrax.com) along with the shore-side FuelNet™ web-based reporting tool helps improve the performance of vessels through tighter management controls, accurate fuel accountability, and optimized vessel operations. FuelTrax monitors fuel flow, captures fuel burn rates, measures and alarms fuel tank levels, and proves bunker quantities and densities. Live operational features include BestSpeed™ and BestEconomy™ that support the master in making real-time throttle adjustments that can help reduce fuel consumption.
About Mustang Technologies
Established in 2000, Mustang Technologies was initially created as an outsourcing software services provider in Asia. After a few key projects working in the marine industry and realizing the large market potential, Mustang Technologies Pte. Ltd. was established in 2010 in Singapore as a consultant and systems integrator to take advantage of and support the growing need for Marine Fuel Management systems within the various marine sectors in the region.
About Nautical Control Solutions, LP
NCS is the leading developer and provider of marine fuel management solutions and technology. Drawing on over 20 years of industrial control systems design, its patented FuelTrax Marine Fuel Management system entered the market in 2006 after a three year development and incubation period at the largest inland waterway operator in the USA. FuelTrax is now proven on over 200 vessels worldwide in both brown and blue water environments and has achieved patent protection in the European Union for its unique design and functional capabilities. NCS is based in Houston, Texas with worldwide sales and services support.