Now you want to buy from a refinery,
there are only two ways; FOB or CIF
1) If it is CIF, LDC, SBLC is accepted; IRLDC
2) If it is FOB the buyer only has two scenarios:
a) That it has its tanks ready to inject, either placing the ATV in the name of the refinery or the DTA being signed by the buyer's farm
b) If it is tank to vessel, You must, if and only if, extend the tanks for two days to verify the product and inject it into the vessel. LDC is accepted under contract, payment MT103. that is the scenario my friend.
It is very simple. The buyer has to follow the Refineries procedure to purchase
No Refinery that accepts a product location will fail to meet its commitments. For Singapore there is a CIF seller. It cannot be FOB. Refineries do not have tankers in Singapore to sell FOB.
to be addressed to the representative of the refineries:
The FOB price in Rotterdam of the EN590 10PPM is currently 480 USD/MT
And the CIF in Singapore is 560 USD/MT. Amount of 200,000 MT/month
The refineries respect the price at which it is contracted during the 12-month contract.
