Fendahl Releases Fusion Freight and Adds New Customers
Just recently, a number of smaller vendors with cloud CTRM solutions have been reporting strong demand. Fendahl is another vendor that has seen an upswing in demand for its CTRM software recently. “We signed three new deals last month alone,” said Henry Thornally of Fendahl. These were a European metals company, a middle eastern oil company and a European oil company, he told me. Henry said that the beginning of the year was a bit stop and start. Fendahl saw early success in 2020 with a couple of new customers and then it went very quiet as the lockdowns kicked in. It spent the time building out its freight module and has subsequently started to sell this and has implemented one customer already.
The new freight module is available stand-alone or as part of the Fusion CTRM solution, he told me. According to Fendahl’s own blog, “freight management within a CTRM solution has traditionally been more of a reporting tool, alongside integration with a more specialized freight system where the shipowners can manage their voyages, and chartering operations. The vision driving Fusion Freight development is to create a fully front to back freight solution. Not only from the stance of the Chartering desk, capturing the various different chartering types such as Spot, COA, CVC, Time Charter, etc. but also from the perspective of the shipowner.”
Fendahl had focused on US oil and gas, and as the lockdowns bit and the oil price crashed, it saw project cancellations and opportunities stall. It also has a ‘strong metals solution‘, but also saw a slow down earlier in the year in that area too. However, in the last few weeks, demand has strengthened, and it is now very busy dealing with inquiries, he told me.
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