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      You are in ::  Home > Crude > Read
Crude Oil Read
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Count : 44
BLCO Oil Storage and Terminal Facility on Waidiao Island CHINA 2018-05-17
 
Please share SPA to crude.merchant@gmail.com with POP to verify.




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>> Dr. G Stewart, Iglook Capital Inc

BLCO Oil Storage and Terminal Facility on Waidiao Island CHINA

The buyer has to arrange a tanker The price is 10/6 and there is 8 million barrels and another 10 million is coming next week.

This is the location
Oil Storage and Terminal Facility on Waidiao Island CHINA

The facility is located at the Zhoushan Archipelago New Area, Zhoushan Waidiao Island Port of Ningbo-Zhoushan Port. The remarkable location provides geographical advantages as it is at the center of Yangtze River Delta region, which includes metropolises such as Shanghai, Hangzhou, and Ningbo. The Zhoushan Archipelago New Area is the fourth state-level new area, following Pudong in Shanghai, Binhai in Tianjin and Liangjiang in Chongqing. It is a pilot region where government focuses on developing marine economy and leading regional development, and is expected to become a hub for processing, transit, warehousing and trading of oil and other large-scale commodity. Brightoil Zhoushan Oil Storage facility carries a total capacity of 3,160,000cbm in which phase one offers capacities of 1.94 million cbm while phase two offers capacities of 1.22 million cbm. The terminal facility will be equipped with 13 berths which can accommodate vessels ranging from 1,000 to 300,000 DW

Procedures:

Seller issues viable procedure, buyer preview/vet and revert. Upon buyer's acceptance Seller issue SPA with the accepted procedure, Buyer signs and returns.

2.​ Seller issue PI (Proforma Invoice), ATS, TSR related POP documents to buyer for confirmation. After confirmation of the TSR from the seller the Buyers Bank issue MT103/23 BLOCK FUND to Sellers nominated bank account within Three (3) international banking days on seller verbiage for the full cargo.

3. Seller issues FULL POP to the buyer upon confirmation of receipt of the MT103/23.

4. Upon successful conclusion of Q&Q (CIQ) analysis with the inspection of NNPC/seller’s on-land storage tank, inspectors release report to both parties while Seller issue commercial invoice to the Buyer with exact Q/Q (CIQ) report figures.

5. Buyer releases full payment for the cargo to Seller's nominated bank and releases the commissions to all the mandate/facilitator/agent/broker listed in the IMFPA of the SPA within 72 hours after inspection against Q/Q (CIQ) Report, Commercial Invoice and Cargo Documents by MT-103 (cash wire transfer).

6. Seller immediately registers POP and obtain certificate of ownership in buyer’s name. All POP and ownership documents to be given to the buyer immediately after receipt of the full payment.


7. After confirming the payment, the seller authorizes the buyer’s agent to transfer the cargos to the buyer.

8. Seller makes subsequent shipments on simple CI/DIP/PAY basis for 11 months per schedule

 
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