Almoner has capacity to receive Buyer’s mandate to deliver up to 10 Million barrels of Bonny Light Crude Oil to the Middle-East Asia and China and Europe on a revolving basis.
For this delivery, Almoner has secured a funding structure through our banker for the issuance of a Standby Letter of Credit – SBLC.
Payment shall be by MT760 and MT 103 for onward payment to the Nigerian National Petroleum Corporation (NNPC or it’s re-seller for the quantity of barrels delivered at Bonny Terminal designated to the buyer’s Port of Destination on our behalf.
Almoner is yet to have its own allocation; we are currently working with NNPC re-seller of repute. We shall issue a 2% Performance Bond on Buyer’s payment instrument on any transaction.
Almoner has its presence and trade partners in Singapore, China, Ireland, Turkey, USA and Indonesia and can deliver to any of these Ports.
SPECIFICATION:
| Specific gravity |
0.8597 |
| Api @ |
60F 36.7 |
| Water content VOL % |
0.2 |
| RSW VOL% |
0.6 |
| Pour Point |
below 40.0 |
| Salt content as NaCI, LBS/1, 000bbls |
12 |
| Sulphur Content WT% |
0.12 to 0.14 |
| Reld Vapor Pressure (RVP), PSIG |
6.52 |
| Conradson carbon residue, WT% |
1 |
| V/NI, PPM WT% |
02-Mar |
| Viscosity, CST @ 38.80c |
3.47 |
| Yield CI C4 WT% |
2.1 |
TRANSACTION PROCEDURE
SPA issued by Seller to Buyer with ATS. Buyer signs and return with ATB format, super cargo and inspection details.
Seller’s Bank sends Bank RWA in readiness to receive Buyer’s instrument
Buyer’s bank sends Pre-Advice via SWIFTMT700 (DLC) or MT760 (SBLC)
Seller’s Bank posts a 2% Performance Bond to Buyer’s Bank to activate DLC or SBLC.
Buyer’s Bank swift DLC MT700 or SBLC MT760 to Seller’s Bank.
Seller loads vessel in buyer’s name and release full proof of product documents to the Buyer.
Seller must timely provide Buyer with vessel's particulars for acceptance at the discharge port, as well as loading details which are required for arranging on-time storage at the discharge port, and include but are not limited to: the name of the vessel, flag, year of construction, assigned number and loaded arrival draft at discharge port, and the expected date of arrival at the Port of discharge (ETA).
NOTICE: Seller will instruct the vessel's Master to send to buyer or buyer's designated Agent ETA notice every Twenty-four (24) HOURS, 48/24/12 hours prior to arrival at port of discharge. Notice of readiness (N.O.R.) is to be tendered only during working hours, i.e. between 08.00 and 16.00 hours.
DETAILS OF LOADING ADVICE: The vessel's Master shall advice to Buyer all details concerning lifting, such as gross and net quantity in metric tons and long tons, and in barrels (barrel shall mean 42 US gallons), the full specification of the crude oil, the date of the Bill of lading, and the date of selling, ETA at the port of discharge, the name of the vessel tanker, flag and all other pertinent and customary information.
Seller’s vessel captain send NOR/ETA to buyer’ port of discharge, captain moves vessel to POD for CIQ inspection, arrives POD and discharges product into buyer’s On-shore tanks and inspected by CIQ.
Buyer’s Bank releases payment via Swift MT103 to Seller’s Account for the delivered / discharged cargo.
Seller sends original cargo documents / Title in Buyer’s name to Buyer’s Bank for final payment. xiii. Next shipment continues according to the contract.