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ArcelorMittal Selects Triple Point Shipping Management System

by Lorys Charalambous, Tax-News.com, Cyprus

08 October 2012


The world's largest steel and mining company, Arcelor Mittal, has agreed terms with Triple Point Technology, the leading provider of cloud and on-premise Commodity Management software, to roll out its Triple Point shipping operations management software.

The software, Triple Point Chartering and VesselOps, provides a global view of vessel movements, market cargo availability, and existing cargo commitments. It enables the commercial maritime community to make more informed and proactive decisions, streamline day-to-day operations, and protect profits.

According to Triple Point, by integrating the technology, the company will have access to enhanced freight risk management capabilities, to enable the company to mitigate market exposure for cargoes, freight forward agreements, vessels, and bunkers: "Arcelor Mittal selected Triple Point's Chartering and Vessel Ops solution because it uniquely provides real-time management of freight risk exposure, intuitive workflows, and consolidated vendor bunker rates for competitive price negotiation. Also key in ArcelorMittal's decision was the worldwide presence of Triple Point's Professional Services Group, which enables customers to be up and running in the shortest possible timeframe."

Chartering and VesselOps is used to manage commercial shipping operations at over eighty companies with in excess of 2,500 users across the globe. Customers include Alfred Toepfer, Bunge Limited, Kuok Group, Louis Dreyfus Commodities, Viterra, and Ultrabulk.

ArcelorMittal is the world's leading steel and mining company, with 100 million tonnes of annual production capacity and a presence in more than 60 countries. It is the leader in all major global carbon steel markets, including automotive, construction, household appliances, and packaging. The company operates a significant fleet with vessels ranging from very large dry bulk carriers with a capacity of more than 200,000 tonnes to smaller ships of 5,000 tonnes.

TAGS: marine

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