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Prime East Shipping Selects Triple Point to Manage Chartering and Vessel Operations

Adds six new licenses since the acquisition of Softmar

Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today that Prime East Shipping Limited has licensed Triple Point’s chartering and vessel operations solution to profitably manage all pre- and post-fixture activities of its newly established dry bulk shipping operations.

Prime East is one of six new clients to license and deploy Triple Point’s chartering and vessel operations solution since Triple Point acquired Softmar. Softmar − the premier provider of commercial vessel operations software − provides Triple Point with the deep functional footprint to comprehensively optimize freight management in its core markets, including crude oil and petroleum products; chemicals; metals and mining; agriculture; and food and beverage. Prime East joins other new clients to select Triple Point’s solution for chartering and vessel operations including Gunvor Energy, Petredec Services, Maestro Shipping, Thenamaris Ships, and Practica Shipping.

Prime East Shipping was established in 2009 with headquarters in Hong Kong. Its shipping operations focus on transporting iron ore, nickel ore, coal, coke, and other bulk commodities between Asia, Australia, and South America. Prime East will use Triple Point software to primarily transport iron ore to China and Japan on a time charter and spot basis, streamline accounting processes, automate reporting, and increase efficiencies across operations.

“Triple Point’s chartering and vessel operations software enables Prime East to immediately manage key business processes more efficiently, including estimating P/L before fixing, matching cargo to potential vessels, and tracking daily operations,” said Leon Ko, operations manager, Prime East. ”In the volatile shipping markets, increasing these efficiencies is a main differentiator in maintaining profitability and competitive advantage.”

“When Triple Point acquired Softmar, the intent was that the joining of forces would provide the global infrastructure and support to expand Softmar’s reach and further develop its solution suite,” said Michael Larsen, managing director, chartering and vessel operations, Triple Point. “The immediate and tremendous activity we’ve seen in adding new clients and increasing business with existing customers is strong proof of Triple Point’s growing market dominance and solution value. Triple Point is committed to providing its diverse set of customers with the world’s best solution to safely and profitably transport dry and wet freight.”