Fuel finance options from Bulugo

Bulugo has launched the credit solution in response to disruption to the marine credit industry caused by IMO 2020 and the Covid-19 pandemic.

“Whilst the traditional bunker market has been ready for digital disruption for some time, we believe the reason why the pace of adoption has been so slow is partly due to the lack of substantive lines of credit offered to buyers via the digitisation route,” said partnership director at Bulugo, Grant Norton. “Our exclusive partnership with Whitehall Finance will give Bulugo customers that option.”

Bulugo supply chain finance gives ship operators the ability to immediately settle supplier invoices whilst optimising their own cash flow. The company offers payment terms of up to 120 days for buyers on a revolving credit account.

Whitehall Finance’s credit solution is currently available to UK-based operators with a view to expanding internationally over the coming months.

Earlier this year, Bulugo unveiled an online platform helping ship operators source marine fuels and lubricants more easily.