Digital Fuel Procurement Expected to Rise in 2025

The digital procurement of fuel within the shipping industry is anticipated to increase significantly in 2025, according to AuctionConnect, a leading online auction platform for bunkering. In 2024, the platform saw a rise in engagement from fuel procurement teams who utilized its capabilities to lower costs and enhance strategic decision-making. Users have reported securing prices up to USD1-2 per tonne lower through earlier and more structured negotiations facilitated by the platform. This shift towards digitalization is crucial as marine fuel costs are expected to rise due to the transition to future fuels. AuctionConnect's platform allows for efficient reverse auctions and integrates seamlessly with existing technologies, promoting a modern approach in a traditionally relationship-driven industry. As digital solutions become more integral, procurement teams are beginning to adopt these innovations to streamline operations and improve profitability.