Portland, a leading fuel hedging and risk management provider that helps commercial fuel users fix their fuel costs through tailored hedging solutions, has partnered with business group Logistics UK as the provider of its new Fuel Hedging Service.
Fuel remains one of the largest operating costs for most transport and logistics businesses, with price volatility continuing to present significant challenges for fleet operators. Logistics UK is the only business group which represents the whole logistics industry, and the partnership will provide its members with access to Portland’s financial fuel hedging expertise, which enables them to reduce their exposure to volatility in the fuel market.
By securing fuel prices in advance, Logistics UK’s members can improve their budget certainty and protect margins against fluctuations in price. Through this partnership, Logistics UK members will receive access to specialist support and tailored fuel risk management solutions designed specifically for commercial fuel users.
Jemma James, Director of Partnerships and Digital Services at Logistics UK, said:
“The launch of Logistics UK’s new Fuel Hedging Service, delivered in partnership with industry experts Portland, reflects our commitment to members in supporting them in managing rising and volatile fuel costs.
“The service provides greater stability and predictability to members by enabling a secure, guaranteed, fixed fuel price, helping protect members from market fluctuations without requiring a fuel supplier change.
“Logistics UK remains committed to providing members with high-quality services and practical support that help them manage supply chain complexity, and operational challenges.”
Mike Johnson, Group Marketing Director at Portland, added:
“We are delighted to continue our long-standing relationship with Logistics UK and to expand it through this exciting new partnership. The freight and logistics sector continues to face significant challenges caused by fuel price volatility, making effective fuel risk management more important than ever.
By making our fixed pricing products available to Logistics UK members through the Fuel Hedging Service, we look forward to helping more businesses manage their exposure to fluctuating fuel prices, improve cost and margin certainty, and gain greater confidence when setting budgets.”
The partnership was launched at Logistics UK’s Finance Forum, held on 9th July at Hallam Conference Centre London, where Portland’s Managing Director, James Spencer, gave an update on fuel markets and looking ahead at developments in the low carbon fuel space.
For more information on Portland’s fixed price solutions, visit https://portland-fuel.com/ and Logistics UK members should visit Fuel Hedging Service (https://logistics.org.uk/services/affinity-services/fuel-hedging-service) or contact the Logistics UK team at enquiry@logistics.org.uk for more details on its new Fuel Hedging Service.
About Portland
Portland offers a range of risk management and supply chain services to commercial fuel users across a variety of sectors, including transport and logistics, bus and coach and fuel distribution.
Set up in 2009 as a specialist hedging provider, Portland’s range of offerings now includes fuel supply and trading, consultancy, AdBlue and AUS production and supply, and operational services for the transport and agricultural sectors.
Headquartered in York, UK, the business also has operations in Germany (Essen) and Canada (Hamilton and Calgary).
About Logistics UK
Logistics UK is one of the UK’s biggest business groups, representing logistics businesses which are vital to keeping the UK trading, and more than seven million people directly employed in the making, selling and moving of goods. Logistics UK supports, shapes and stands up for safe and efficient logistics, and is the only business group which represents the whole industry, with members from the road, rail, water and air industries, as well as the buyers of freight services such as retailers and manufacturers whose businesses depend on the efficient movement of goods. For more information about the organisation and its work, please visit logistics.org.uk
Media Contacts:
Portland
Mike Johnson
Group Marketing Director, Portland
mike@portland-fuel.co.uk
01904 488803
Logistics UK
Niklas Pettifor
PR Manager, Logistics UK
npettifor@logistics.org.uk
07818 450 367
