Chemoil improves Risk Management
with .NET's DeRisk
Profile
Chemoil Corporation is the largest independent supplier of
marine bunker fuels in the United States. Founded in 1981,
Chemoil has grown from a trader to a major player in the worldwide
fuel oil market. Chemoil and its affiliates have a 20% market
share for bunkers in the United States, and 4% in the world.
Chemoil has been focusing on expanding its geographical reach.
In the year 2002, Chemoil and its affiliates supplied over
4,000 vessels with more than 5 million metric tons of bunker
fuel.
Customer Situation
The key to Chemoil's success are exclusive sourcing,
product knowledge, integrity, and reliability.
Chemoil was using spreadsheets for their trading and
risk management operations. The importance of providing
updated trading information consistently throughout
the system and handling vast amount of data made the
spreadsheets ineffectual and non-scalable. With the
growth of operations and spread of business, Chemoil
wanted an automated and integrated solution for their
operations. |
We chose Calsoft's DeRisk because it enabled our
Oil Trading department to centralize data, streamline
our transaction flow and give us more control
over the risks associated with oil trading. 
Doug Long
Vice President - Trading
Chemoil Coporation
http://www.chemoil.com |
|
|
| |
Calsoft's investments in .NET as the development
framework for DeRisk and other products has paid
off in terms of faster product development, the
end products flexibility in rapidly configuring
them for new customer needs, seamless interfacing
with customers systems and easier integration
between our various products.
Siddarth
VP Solution Definition (Oil and Energy)
California Software
www.californiasw.com |
|
Solution
Chemoil decided to implement DeRisk, a trading and
risk monitoring solution offered by California Software.
Customization to suit the business requirements was
a deciding factor. In addition, DeRisk was based on
the .NET framework and features such as scalability,
flexibility, and connectivity were incorporated in the
solution.
For Chemoil, DeRisk provides historical data integrity
and consistency, and an automated solution that enables
traders to view market price curves, favorite deals,
limits, and counterparty limits at a glance.
DeRisk helps Chemoil access critical information for
gaining a competitive advantage in the oil industry.
The company is now able to add value through proper
analysis and risk mitigation. |
Benefits
DeRisk has enabled improved risk management at Chemoil, with
effective risk monitoring, control of trader and counterparty
exposure by the group. The solution has also increased trader
productivity through better deal management.
Chemoil enjoys increased system efficiency with seamless
integration of deals captured from DeRisk to existing ERP
systems ensuring fast, reliable, and consistent information
across the organization.
Real-time data transfer in the case of physical deals makes
for effective and efficient inventory and operations management.
Inefficiencies in decision-making are eliminated and deal
evaluation is optimized.
Partner: California Software |
