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Module 5
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Module 5
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Commercial and Financial Considerations: Sale and Purchase, Pricing and Hedging
This section focuses on the trading process for ship fuel. Participants will examine each stage of the commercial process, and assess best-practice pricing and purchasing strategies.
Course Content
- Licensing of operators
- Bunker trading terminologies
- The commercial deal
- Enquiry: quantity, grade, location, date, special conditions
- Offers: validity, credit, negotiations, counter-offers, acceptance
- Contract and responsibilities, confirmation, invoice and settlement
- Avoiding errors and omissions
- Sale and purchase of bunkers
- Bunker sale/purchase process
- Strategies for minimising costs
- Suppliers’ terms and conditions
- Regional variations in sale, purchase and delivery
- Controlling costs
- Pricing and risk strategies
- Price history and influencing factors including market structure and increased supplier numbers
- Pricing mechanisms including escalators in contracts
- Hedging