The idea of creating a system for vessels to monitor fuel usage chanced upon Chia Yoong Hui when he was trying to sell a shipowner an entirely different product. Shipowners then were still using primitive ‘sounding’ methods for fuel measurement – the act of inserting sounding tapes into the fuel tank to estimate fuel volume which was easily prone to human errors – and there was simply no way to gauge fuel volume more accurately. At that time, oil prices were also at its peak, and oil price fluctuations coupled with high fuel consumption by vessels posed a major concern for the maritime industry.
Chia immediately saw an opportunity to seize. Based on his previous experience in the Singapore Navy, he knew there should be an automated way to better monitor fuel usage, and he teamed up with his former navy buddy, Sia Teck Chong, to cultivate this seed idea to develop a system capable of monitoring fuel consumption remotely.
Since 2008, Ascenz has enabled shipowners, ship operators, and diverse industry players achieve operational efficiency and save fuel costs through its Shipulse solution that delivers smart shipping insights. From a two-man outfit, Ascenz has grown and developed significantly over the years to an award-winning company with a robust team in Singapore, Myanmar, Taiwan, Malaysia and Germany. Its identity nonetheless has always remained the same – to continuously conduct research and development to create value-added customer-centric products and work together with partners to form strategic partnerships. In 2017, Ascenz was acquired by GTT, an international frontrunner in technological solutions for storage and shipping of liquefied gas, particularly LNG, and Ascenz is part of the GTT Group.
Ascenz is fully driven and committed to transform vessel performance with agile, smart shipping solutions as it takes the lead to steer innovation in the maritime industry.