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Press Release: Swiftbulk Partners with FUELTRAX

SwiftBulk partners with FUELTRAX to install EFMS and FUELTRAX Vision on its Kamsarmax Dry Bulk Carrier Vessel.

We are pleased to announce that International shipping company, SwiftBulk Holding Co. Ltd, a subsidiary of Tiptree Inc. (NASDAQ:TIPT), has partnered with FUELTRAX to install EFMS (Electronic Fuel Monitoring System) and FUELTRAX Vision on its 2009 built Kamsarmax dry bulk carrier vessel, the Thestelia K. (82,000 dwt)

SwiftBulk is implementing FUELTRAX EFMS to improve operating efficiency, decrease environmental footprint with consumption tracking, and improve operating transparency. The EFMS on board includes direct fuel measurements via Coriolis flowmeter technology for her MITSUI MAN B&W 6S-60MC-C main engine and her bunker monitoring for fuel quality detection upon loading. With this installation, SwiftBulk also gains access to FUELNET, the secure logistics web portal, which provides live updates of vessel location and vessel activities, completely independent from AIS.

FUELTRAX Vision, another FUELTRAX optimization tool onboard THESTELIA K, adds visual verification with 360° coverage of the vessel perimeter - providing insights into vessel activities from anywhere in the world. All video footage collected by FUELTRAX is coupled with existing fuel monitoring data and location tracking information to provide greater transparency in operations.

This effort in transparency gives SwiftBulk’s clients value by providing a long-term shipping platform solution in addition to the standard operating management of vessels. By installing FUELTRAX, SwiftBulk shows commitment to its clients, the environment, and the future of maritime. SwiftBulk wants to ensure it improves client relations with transparency by investing in resources to embrace technology-driven shipping.

Stefanos Kasselakis, CEO, SwiftBulk, said, “We are excited to be working with the FUELTRAX team to introduce this technology to our fleet. The FUELTRAX system allows SwiftBulk to increase operational efficiency and better manage operational costs while reducing our environmental impact. The transparency FUELTRAX provides greatly enhances our ship management capabilities, maximizing both SwiftBulk’s and our customers’ return on investment.”

John Donovan, VP of Operations, FUELTRAX, stated, “Teaming up with SwiftBulk is an exciting opportunity and a great partnership. SwiftBulk’s commitment to technology-driven shipping perfectly matches FUELTRAX’s expertise in increasing vessel efficiency and offering solutions to large vessel operators.”

More about FUELTRAX

Since its inception in 2004, FUELTRAX has grown to be the leading universal fuel management solution, compatible with any vessel engine, or fuel, in any location in the world. With its cloud-based data and analytics service, FUELNET, provides fully self-contained, smart monitoring and measurement, reducing costs and setting the standard for secure, compliant, optimized vessel performance and fuel accountability.

FUELTRAX is a product of Nautical Control Solutions, LP.

More about SwiftBulk

SwiftBulk Holding Co. Ltd is the bulk shipping operations of Tiptree Marine LLC, a subsidiary of Tiptree Inc. (NASDAQ:TIPT). Tiptree Marine is a platform with dedicated technical and commercial expertise pursuing a multi-sector, low-leverage, shipping strategy.


For further information and media inquiries, please contact:

For media inquiries, please contact:

Jessica Hurd, Marketing Communications Manager


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