MEDIA RELEASE
Embargoed until 6pm (GMT+8) , 5th October 2022
SGTraDex signs memorandum of understanding with maritime tech providers
to support digitalisation of the bunkering sector.
● MOU penned with 6 tech providers in the bunkering sector – ADP
Clear, Angsana Technology, Brightree, BTS, Bunkerchain and PSA
Marine● Majority of MOU signatories are awardees of MPA’s call for proposal
for digitalisation of the bunkering industry● Collaboration expected to improve operational efficiency andavailability of financing through digitalisation of the bunkering industry
Singapore, 5 October 2022 – A memorandum of understanding (MOU) was inked
between Singapore Trade Data Exchange Services (SGTraDex Services) andmaritime tech providers ADP Clear, Angsana Technology, Brightree, BTS,
Bunkerchain and PSA Marine on the sidelines of Singapore International Bunkering
Conference and Exhibition (SIBCON) 2022.
Graced by Mr Chee Hong Tat, Senior Minister of State for Finance and Transport,
the MOU solidified the partnership between the signatories and SGTraDex Services
to jointly improve efficiency and resilience for bunkering sector by reducing
duplicative effort and providing access to documents from trusted sources.
About SGTradex’s Bunkering Optimisation Use-Case
Launched on 1 June 2022, the Singapore Trade Data Exchange (SGTraDex) is adigital utility that facilitates the sharing of data between supply chain ecosystem
partners, streamlining information flows through a common data highway where data
can be shared in a trusted, secure and inclusive manner.
SGTraDex was mobilised to solve supply chain industry pain points based on a “usecase” led approach and “value focused’ principles”. It means identifying problems
that are relevant to participants and the industry as a whole, sharing businessprocesses and experiential challenges between the participants, offering bestpractices and, as a result, aligning on the flow of information and data exchange,
fundamental to solving the pain points identified.
SGTraDex represents the foundation that provides the infrastructure that allows all
counterparties to operate more securely and efficiently. Partnerships with technology
providers are key to achieving that efficiency and trust.
1Our bunkering optimisation use-case (Use Case C) digitalises the exchange ofcommercial (documents) and operational (event) data between ecosystem partners
like storage facility operators, cargo owners, bunker suppliers, barge operators,
bunker buyers and financial institutions.
The exchange also unlocks value for the ecosystem by collaborating with industry
platform providers like the signatories of the MOU.
“With this ecosystem of partners, participants can connect with SGTraDex to access
multiple partners and platforms, thereby expanding their own network of trade datapartners” said Antoine Cadoux, CEO of SGTraDex Services.
Building a future-ready bunkering sector
By digitising trade documents for the bunkering and adjacent industries, SGTraDex
and the maritime tech providers will:
1. Improve operational efficiency through digitisation of trade documents
2. Reduce the risk of trade finance fraud and increase confidence in financing by
allowing financing institutions to validate the authenticity of trade documents
via data obtained directly from trusted parties and sources.
Antoine Cadoux said “Our core belief is that underpinning a well-functioning supply
chain and trade ecosystem, is the need to efficiently communicate commercial andoperational data between stakeholders. To do so, we need to move away frompaper-based processes since they are highly inefficient and more susceptible to therisk of fraud.”“The bunkering sector is no exception. As a neutral digital highway, working closelywith maritime tech providers, together, we can build a future ready bunkering sector
that is more effective and more resilient.” He added.
“As a major hub port and bunkering centre, we need to leverage on digitalisation toincrease efficiency and transparency. MPA welcomes the partnership betweenSGTraDex and the marinetech technology community to develop innovativesolutions to promote greater data sharing and exploitation of data for insights. We
look forward to the industry adoption of digital solutions to deliver better services andenhance their business competitiveness,” said Mr Kenneth Lim, Assistant Chief
Executive (Industry & Transformation), Maritime and Port Authority of Singapore.
For more information, visit: sgtradex.com- End –2

Appendix:

Standing, from left to right: Mr Tan Chin Hwee, Chairman SGTraDex Services | SMS Chee HongTat | Mr Lew Chuen Hong, CE IMDASeated, from left to right: Mr Tyler Baron, Director ADP Clear | Mr Ang See Lin, Director Angsana
Technology | Mr Jimmy Koh, Head Pilotage PSA Marine | Mr Antoine Cadoux, CEO SGTraDex
Services | Mr Kevin Peng, Managing Director, Brightree, Mr Goh Kwong Heng, Director BTS | Mr
Vance Loh, Executive Director Bunkerchain

About SGTraDex
Launched on 1 June 2022, the Singapore Trade Data Exchange (SGTraDex) is adigital utility that facilitates the sharing of data between supply chain ecosystem
partners, streamlining information flows through a common data highway where data
can be shared in a trusted, secure and inclusive manner.
SGTraDex uses proprietary technology anchored through a public-private
partnership model to resolve pain points in supply chain ecosystems including aheavy reliance on a paper-based system which lacks efficiency, transparency andsustainability. The move to digitise information will increase productivity and build
supply chain resilience. New efficiencies and opportunities will be unlocked whenecosystem partners can collaborate to achieve a shared visibility of the end-to-end
supply chain. For more information, visit sgtradex.com

Media ContactAlvin Teu
Marketing Manager, SGTraDex
alvin.teu@sgtradex.com
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