ATHENS, Greece, May 22, 2017 /PRNewswire/ -- Lawrence Axelrod, founder and principal of Axelrod Energy Projects LCC, an international energy consulting and brokerage firm, and Abudi Zein, co-founder and CEO of ClipperData, a global leader in crude oil and petroleum product cargo tracking, announced the sale of Axelrod's Fuel Oil & Feedstock Trader to ClipperData. Fuel Oil & Feedstock Trader provides market intelligence and analysis of the world fuel oil and heavy feedstock markets to majors, state oil firms, refiners, traders, power companies, bunker suppliers, power companies, storage companies, and investment banks around the world. The announcement was made at Axelrod's 10th annual World Fuel Oil Summit held in Athens on May 18-20, 2017.
"We're integrating the world's best real-time fuel oil cargo data source with the world's most in-depth fuel oil news coverage and analytical reporting," says Abudi Zein of ClipperData. "Our data will underpin and enhance the news coverage, while the news gathering will help refine and direct our data collection." For the first time, real-time tracking of cargo flows will underpin investigative reporting, news and commentary analysis. "Traders are increasingly demanding more hard data with their news," adds Abudi Zein, "This acquisition will be good news for traders wanting more actionable market intelligence."
The sale of Fuel Oil & Feedstock Trader will permit Axelrod Energy Projects to focus on the firm's core areas of business – research and consulting, oil cargo brokerage, and project development. "Axelrod Energy Projects will be in a stronger position to assist consulting and commercial clients identify and seize opportunities as the world fuel oil market undergoes structural transformation," Lawrence Axelrod observes.
ClipperData, headquartered in New York City, holds exclusive partnerships with the U.S. Customs & Border Patrol and Inchcape Shipping Services, the world's largest port agent. ClipperData offers the industry's most comprehensive database of waterborne – oceangoing, inland barge, ship-to-ship and floating storage – flows of all crude oil and petroleum products worldwide. ClipperData delivers unrivalled real-time transparency: by ship, grade, API gravity, volume, load/discharge port and dock, along with consignee information. www.clipperdata.com
ABOUT AXELROD ENERGY PROJECTS
New York-based Axelrod Energy Projects LLC provides a variety of services to the international oil and energy industries. AEP's services include research and consulting, physical brokerage of oil barges and cargoes, and project development. www.axelrodenergyprojects.com
The annual World Fuel Oil Summit, organized by Axelrod Energy Projects, brings together traders and other industry participants from around the world. The three-day event includes a facility tour, conference proceedings, and a visit to local landmarks. www.worldfueloilsusmit.com
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SOURCE ClipperData LLC