Why use it?
A mutually binding contract designed to fix your bunker prices at any port of your choice, independent of future market movements.
How it works
You and Global agree upon the contract period, and the future price of physically delivered bunker fuel.
Thereafter, you simply notify Global about locations, volumes and times of delivery.
There is no settlement - you simply pay the agreed price, no matter what the spot price is at that time. The bunkers are then supplied and invoiced according to the agreed terms.
Extra flexibility
With five working days notice, the agreed volume per calendar month can be raised in one or several deliveries.
An Optional Port Clause offers you maximum flexibility in your operation. It allows you to
- raise the monthly volume at any port of your choice
- conclude an FPA at just one destinations, or
- take delivery wherever you need the product.
The fixed price for each delivery would, of course, be adjusted with the price difference between the contract port and the place of actual delivery at the time of nomination.
The same type of flexibility also applies to changes in products.
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