Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today that United Arab Chemical Carriers Ltd. (UACC) has selected Triple Point’s Chartering and VesselOps™ software to manage commercial vessel operations for its global refined oil products and petrochemicals shipping business.
This announcement follows Triple Point's recent acquisition of Softmar, the premier provider of software solutions for commercial chartering and vessel operations. Adding shipping to Triple Point’s commodity trading and risk management solution set provides companies with an all-encompassing view of the enterprise. With the acquisition, Triple Point's ability to provide market-based supply chain solutions, including freight rate risk management, is unmatched.
UACC was established in Dubai International Financial Centre ("DIFC") in 2007 and is a private company owned by industrial companies and key individuals in the Middle East region. UACC is strategically located in a region which is witnessing strong economic growth and is fast emerging as the largest exporting hub for petrochemicals and petroleum products. The largest individual shareholder of UACC is United Arab Shipping Company, a sovereign company owned by six states in the Middle East Gulf.
“The Middle East Gulf and Indian West Coast are two of the world’s fastest growing export markets, and Triple Point is pleased to provide UACC with the world-class chartering and vessel operations software it requires to gain competitive advantage,” said Michael Larsen, managing director, chartering and vessel operations, Triple Point. “Chartering and VesselOps’ advanced systems and analysis models provide UACC with real-time information to make proactive decisions around voyage estimating, cargo/tonnage match, and all post-fixture activities.”
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