Danish vessel optimisation platform ZeroNorth has continued on the takeover trail with a deal to acquire bunker software company BTS in Singapore.
The Copenhagen-based organisation, backed by AP Moller Holding, Cargill and PSG Equity, said the transaction would add BTS’ flagship suite of services to the group.
These comprise the Intelligent Bunker Management System (iBMS), software tailored for the marine fuel supply chain.
The Singapore platform aims to increase the efficiency and profitability of bunker suppliers, traders and brokers by digitalising their business processes by eliminating unproductive tasks and automation.
iBMS was one of the first projects supported by the Maritime and Port Authority of Singapore under the Maritime Innovation and Technology Fund (MINT) in the early 2000s.
ZeroNorth will build a fully cloud-based iBMS solution, eventually incorporating it into a unified platform.
The acquisition supports ZeroNorth’s growth strategy within the marine fuel industry, the Danish operation said.
It follows the takeover of Prosmar Bunkering in Norway three months ago.
Kenneth Juhls, managing director of ZeroNorth Bunker, said: “The marine fuel industry is taking centre stage in shipping’s green transition.
Better decisions are key
“With the increasing pressure to digitalise and optimise your marine fuel supply chain, and the influx of alternative fuel options becoming available, equipping our customers with the ability to make better decisions in regards to procuring, storing and selling fuel is becoming a key priority for ZeroNorth,” he said.
BTS managing director Dharma Sreenivas Reddy said the partnership with ZeroNorth will enable his company to modernise.
He said this will “ultimately accelerate the digital transformation of the marine fuel industry”.
ZeroNorth's Prosmar Bunkering deal saw the Norwegian company continue to operate as an independent, stand-alone business, with the same management team currently running the organisation.
This was the first acquisition since its equity raise of $50m in 2022.
ZeroNorth acquired ClearLynx — now ZeroNorth Bunker — in December 2021.
