Singapore – February 10, 2015 – Today at the LNG Global Congress in Singapore, industry leaders Openlink, Veson Nautical, and Wipro Limited unveiled a strategic partnership called RapidLNG: a software package that optimizes the entire Liquefied Natural Gas (LNG) supply chain.
RapidLNG combines leading IT tools from Openlink, Veson Nautical, and Wipro to create a best-in-class 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. The pre-configured software package will 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 seamless data transfer throughout the entire LNG value chain and improves decision making through accurate reporting and greater visibility into costs across the organization. With RapidLNG, customers can 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 a seamless integration of the following 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.
For shipping, Veson Nautical's IMOS LNG offers LNG tanker charterers and owners the first software solution designed around their business process. IMOS LNG captures LNG vessel and voyage properties and streamlines operational data flow across chartering, operations, financials, and vessel reporting. "Veson Nautical is pleased to join hands with Wipro and Openlink on this key initiative to deliver broad support to the LNG industry," says John Veson, Veson Nautical CEO, "and to provide IMOS LNG and Veslink as part of the RapidLNG solution."
To support trading requirements, Openlink's Endur LNG Xpress is a pre-configured packaged solution for front to back trading of LNG and risk management on a single platform. Craig Bennett, Managing Director of Openlink in APAC, said "We are excited to be a part of this joint initiative along with other industry leading companies, providing LNG buyers with a packaged end-to-end solution in an affordable and easily deployable model."
Finally, for planning, Wipro's Planning & Optimization (PAO) LNG Solution is a pre-configured application geared toward optimizing the entire supply chain of LNG companies. It uses sophisticated operations research algorithms to solve problems and can prepare an operations and delivery plan for the entire year. Subbi Lakshmanan, Vice President and Domain Head - Energy, Natural Resources & Utilities (ENU), Wipro Ltd. said, "Wipro's CTRM (Commodity Trading and Risk Management) Practice has committed significant resources along with our partners Openlink and Veson Nautical in developing RapidLNG and we are very happy with the outcome. The solution aims to address almost every element relevant to the volatile and dynamic demand and supply scenario in the LNG business and will offer much needed agility to producers and consumers in the LNG supply chain."
To learn more about RapidLNG, please visit www.openlink.com/RapidLNG.
Veson Nautical is the premier provider of maritime commercial management and trading software. The company’s integrated solutions foster collaboration and communication, enabling the world’s leading shipping organizations to better manage voyage chartering, operations, financials, and risk. The Integrated Maritime Operations System (IMOS), Veson Nautical’s flagship solution, empowers faster and more strategic decision making, supporting clients to realize revenue growth, protect voyage P&L, and optimize performance. Veslink is an online service that streamlines the collection and distribution of mission-critical commercial maritime data. With its focus on constant innovation and customer service, Veson Nautical serves over 6,500 users at more than 200 prominent maritime organizations worldwide. The company may be reached via the Web at www.veson.com or in their Boston headquarters at +1.617.723.2727.
Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Business Process Services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" - helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation, and an organization wide commitment to sustainability, Wipro has a workforce of over 150,000, serving clients in 175+ cities across 6 continents. For more information, please visit www.wipro.com/.
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