Maestro Shipping Selects Triple Point to Manage Chartering and Vessel Operations

Tue, 08/10/2010 - 12:35am
The Associated Press

Triple Point Technology@, the leading provider of multi-market commodity and enterprise risk management software ( solutions, announced today that Maestro Shipping SA has licensed Triple Point's Chartering and VesselOps solution to manage all pre- and post-fixture activities in support of its growing dry bulk fleet and tramping operations.

This announcement follows Triple Point's recent acquisition of Softmar, the premier provider of software solutions for commercial chartering and vessel operations ( . Adding shipping to Triple Point's commodity trading and risk management solution set provides companies with an all-encompassing view of the enterprise. With the acquisition, Triple Point's ability to provide market-based supply chain solutions, including freight rate risk management, is unmatched.

Maestro Shipping SA is based in Fribourg, Switzerland with operating locations licensed in Denmark, Australia, and Cyprus. The company owns a fleet of 16 vessels including 2 Handy Bulk carriers, 10 Reefer ships, and 4 Roll-on/Roll-off (RORO) ships. Maestro also controls time charter Reefers and Bulkers to meet cargo requirements.

"Chartering and VesselOps provides shipping organizations with the systems required to optimize fleet utilization, while proactively controlling the cost and risk of transporting freight," said Michael Larsen, managing director, chartering and vessel operations, Triple Point. "We are proud to add Maestro to our growing portfolio of shipping customers."

About Triple Point TechnologyTriple Point is the leading global provider of innovative software solutions to efficiently and profitably manage commodities and enterprise risk ( . Triple Point's growing, loyal customer base of over 260 companies represents all industries with exposure to energy and raw materials including oil and gas, coal, metals, agriculture, transportation, shipping, consumer products (CP), discrete manufacturers, and big box retailers. The company was named a 'Leader' in Gartner's ETRM Magic Quadrant for its completeness of vision and ability to execute. Triple Point offers the only real-time solution to manage market/price, counterparty credit, operational, and regulatory risk on a tightly integrated platform. Founded in 1993 and headquartered in Westport, CT, USA, Triple Point employs over 600 people in 11 offices and support centers around the globe. ( .


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