Three companies reveal LNG management software

OpenLink, Veson Nautical, and Wipro Limited said they created a strategic partnership called RapidLNG: a software package intended to optimize the entire LNG supply chain.

RapidLNG combines IT tools from OpenLink, Veson Nautical, and Wipro to create a software platform that specifically supports LNG planning, shipping, and trading requirements for traders, schedulers, and others involved with the buying, storing, or regasification of LNG for local market distribution, stands in the OpenLink statement.

The pre-configured software package aims to help companies reduce operating costs, as well as the need for expensive reconciliations and IT infrastructure.

The solution helps users manage risk and P&L reporting across LNG assets in real-time, including maritime transportation as well as physical and paper trades. It facilitates data transfer throughout the entire LNG value chain and improves decision-making through accurate reporting and greater visibility into costs across the organization, according to the statement.

RapidLNG is created to help customers automate LNG-specific bunker calculations, like Boil-off/FOE Conversion, enabling their shipping operations to generate accurate voyage P&L statements and increase operational efficiency.

RapidLNG is a result of an integration of several software solutions: OpenLink’s Endur LNG Xpress, Veson Nautical’s Integrated Maritime Operations System (IMOS) LNG Module and Veslink, and Wipro’s PAO (Planning & Optimization) LNG solution, OpenLink said.

Image: K-Line