The Early Warning System

The desire to have an early warning system of a credit risk is something we all have in common. Payment default in the marine fuel sector is a real risk facing all bunker fuel suppliers. The companies most likely to get caught out are those that are not alert and do not look out for possible dangers ahead.

A Matter of Life and Debt

Spotting the signs, and spotting them early on, has been an industry dilemma for a long time. Keeping an eye on your trading partners has not been as straight forward as one would have liked. Brightstar has been developed to help solve this problem, complementing the marine credit report. Brightstar is revolutionary to marine fuel credit risk management and is based on the concept of collaboration and benchmarking.

How it Works

Members input information on known companies into the system, including credit provided and references, to create a fuller picture for each company. As a member, you will be able to see the range of credit your counterparties receive from trading partners in the bunker market, from lowest, to highest, and also the industry average. You can compare this with the Ocean Intelligence recommended limit and your own limit. In addition, you can read any comments and references from others on the company, allowing you to put your own experiences in the context of how this company behaves across the industry. Along with comparing current credit levels with historical credit levels, the system also allows you to easily monitor news published on the company, and have immediate access to their confirmed address and contact details. Together, these elements bring the company's current state of affairs into much clearer focus. Alerts can be issued by any member, when companies are repeatedly paying late or defaulting on their payments. If such a company happens to be in your portfolio, you will receive an e-mail providing you details of the warning. This allows you to gain the initiative and act early if required. Updated credit reports on the company will be available within 24 hours of an issued alert.

Make sure you don't pay the price

Contact Us