I had the opportunity to visit with David Meyers, co-founder and CEO of Enuit LLC, this afternoon to get an update on his company’s recent activities and the overall state of the market from his perspective. Though the Houston-based company may not be the most well-known of the many CTRM vendors in the market, Enuit has created a solid business since their founding in 2008, usually knocking down a few notable deals each year and growing both their product coverage and their geographic reach with each new sale. Now, with customers in North America, Europe and the Asia-Pac region, they’ve developed a solid, though somewhat quiet, track-record of success.
Though they started in the natural gas and power space in the US, the company has expanded into a number of other commodities. With the recent hiring of John Wahl, an long-term industry veteran and expert in the oil and oil products industry, Enuit has been working diligently to further strengthen their position in these markets and have made a number of significant enhancements to improve their handing of physical liquid commodities. Additionally, they’ve grown their functional footprint into metals and the full breadth of energies, including LNG, NGLs and coal. According to Mr. Meyers, they are currently finalizing contracts with a couple of new customers, one in Europe for metals and coal, and one in Asia for oil, products, freight and LNG.
In terms of current market conditions, he notes that the last couple of years have been challenging, with fewer deals in the marketplace than in previous years; and of those that do appear, most are highly competitive. But, like we’ve been hearing from others, he believes the markets have started to loosen up a bit in the last few months and anticipates 2017 will be a better year for overall CTRM license sales than 2015/2016. In all, Mr. Meyers is bullish on the market and his company’s position in it…though he acknowledges its not always be best to be the quiet company in a somewhat crowded market.
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