Home   |  News  |  Features  |  Media Pack  |  Contact

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aegean quits as Singapore physical supplier​

New offering introduces unsecured finance via digital platform​

Digital bunker fuel and lubricant platform Bulugo has partnered with Whitehall Finance to offer bunker fuel and lubricant buyers up to US$20 million external unsecured finance.

Aegean quits as Singapore physical supplier

Bulugo notes in statement that the implementation of IMO 2020 at the beginning of the year, followed by the unprecedented disruption to the global economy, “has had a significant impact on the marine credit market”. The platform says it has launched its “innovative credit solution” as “financing options are a key consideration when buying marine bunker fuel and lubricants”.

 

Partnership Director Grant Norton, Bulugo, said: “Whilst the traditional bunker market has been ready for digital disruption for some time, we believe the reason why the pace of adoption has been so slow is partly due to the lack of substantive lines of credit offered to buyers via the digitisation route.

Our exclusive partnership with Whitehall Finance will give Bulugo customers that option.”

 

The scheme allows buyers to settle supplier invoices immediately while, Bulugo says, also optimising their own cash flow. Payment terms of up to 120 days are offered on a revolving credit account.

 

The finance is currently only available to UK-based operators but the intention is to expand internationally “over the coming months”.

Get in touch

Contact one of the World Bunkering team.

Constructive Media

Constructive Media
50 George Street,
Pontypool
NP4 6BY

Tel: 01495 740050
Email: ibia@constructivemedia.co.uk



On behalf of :

IBIA Ltd Office 239
New Broad Street House
35 New Broad Street
London, EC2M 1NH
United Kingdom

Tel: +44 (0) 20 3397 3850
Fax: +44 (0) 20 3397 3865
Email: ibia@ibia.net
Website: www.ibia.net

Emails

Publisher & Designer: Constructive Media - ibia@constructivemedia.co.uk
Editor: David Hughes - anderimar.news@googlemail.com
Deputy Editor: Unni Einemo - unni@ibia.net
Project Manager: Alex Corboude - alex@worldbunkering.net

Terms & Conditions | Copyright © 2021 World Bunkering

- Online IBIA Bunker Training Course -