Triple Point Technology, the leading global provider of cloud and on-premise Commodity Management software, announced today that ArcelorMittal has licensed Triple Point's shipping software to support its steel and mining operations.
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. ArcelorMittal, with revenues of $94 billion, has a world class mining business with over 20 mines in operation and development.
ArcelorMittal required an integrated chartering and vessel operations solution with comprehensive freight risk management capabilities to mitigate market exposure for cargoes, freight forward agreements (FFAs), vessels, and bunkers. The company selected Triple Point's Chartering and VesselOps(TM) 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.
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. Chartering and VesselOps is used to manage commercial shipping operations at over eighty companies with 2,500+ users across the globe. Customers include Alfred Toepfer, Bunge Limited, Kuok Group, Louis Dreyfus Commodities, Viterra, and Ultrabulk.