Refined products wanted — principal trader, term contracts
A principal trader buying refined products for its own book and placing them with established exit buyers. It controls every transaction it signs financially and banks in Switzerland. As a trader, the price decides the deal: it buys where the discount leaves room for resale. Magister Operis is direct to the buyer; its name is released once a seller is shown to be real, a match and ready.
The requirement
- Product — diesel and gas oils (EN 590 10 ppm, D2), Jet A-1, fuel oil (D6 / HSFO), LPG and LNG; gasoline considered.
- Price — at or near refinery pricing, USD or EUR. Multiple contracts welcome when the terms suit the exit buyers.
- Contract — 12 months or more; spot quantities as scheduled lifts within it. Near-term performance only: the buyer does not sign for product 90 days out.
- Delivery — FOB at any safe product transfer location, except in Iran, Ghana, Nigeria, Sudan and Syria; the buyer has its own shipping. An exception may be considered when exceptional performance is perfectly packaged.
- Payment — one-month revolving documentary letter of credit per lift, renewing on satisfactory delivery. A transferable letter of credit in some cases; never divisible. No standby letter of credit or bank guarantee. Payment on matching Q&Q results, against transfer of title.
- Bank — BNP Paribas, Geneva, as last confirmed by the buyer.
- Rules — UCP 600, Incoterms 2020, ICC Paris.
What the seller brings
A refinery supply letter confirming current capacity and availability to produce for this buyer, with production figures consistent with verifiable facilities, workforce, supply chain and existing allocations.
Near-term performance, clearly outlined: when the first lift loads and the lifting schedule after it. Without it there is no interest.
No ICPO. A real titleholder needs to see three things: that the buyer has the money, that it has the storage, and a binding contract to sign.
Intermediaries
Intermediaries with reasonable authentication are respected and compensated; written authority from a principal is not demanded before an intermediary is paid. What is needed is credible signatories on both sides and a clear account of the chain, buy side and sell side. The buyer contracts with the actual seller.
Procedure
- The seller sets out what makes the offer real, a match and ready, near-term performance included. Magister Operis confirms it, and that the chain agrees.
- Then, and only then, the buyer issues an LOI and meets face to face wherever the seller is. The seller issues an FCO on letterhead to the buyer's corporate profile.
- After due diligence, the seller issues the commercial invoice, contract and tank storage receipts, verified with the quality certification officer; the buyer signs.
- Bank-to-bank proof of funds and proof of product; the buyer issues the revolving letter of credit.
- On matching Q&Q results the buyer pays and the seller transfers title, lift by lift.
Value the offer per lift and over the contract in the Energy Deal Snapshot, then send the PDF with the supply letter and whatever else is in hand to Magister Operis.
Every engagement is governed by the firm's Method and Disclaimer; intermediaries should also review the firm's Due Diligence standards.