Heavy crude oil Malaysian
There is 1M bbls API 16 in tanks in Rizhao.
1M bbls API 16 on vessel in front of Qingdao.
2M bbls of API 10.4 ON VESSELS in Malaysia.
2M bbls API 10.4 IN TANKS IN MALAYSIA.
Commodity: Malaysian Heavy Crude Oil API 10.4
Quality Specification: See specifications in Annex I
Delivery Quantity: 951,818 Barrels
Offering period: June 21 - June 28, 2022 Beijing Time
Vessel location: On Vessel in Malaysian Straights
Incoterms: STS Malaysia
Inspection QQ: Fresh CCIC Test Paid 100% by the Buyer Onboard vessel at STS Location Malaysia
Payment Mode: 100% via MT103 after successful QQ Test and flanges of mother vessel and sister vessel connect at STS location
Payment Guarantee: DLC welcome, but not necessary
Discount: Brent PCAASOO key benchmark prices (3/barrel ) indicated in the S&P Global Platts Crude Oil Market wire for the pricing period - $29,0 (USD twentynine)
Payment Cu rrency: RMB or EUR
Title And Risk: Risk and Title Transfer after 100% payment
Price -$19 is for crude IN TANKS IN RIZHAO.
Price for API 16 IN VESSEL IN FRONT OF QINGDAO is -$20.
Price for API 10.4 in Malaysia ON VESSELS IS -$25 - if delivered CIF QINGDAO then price is -$23.
1) Buyer sends ICPO and Seller sends SPA for Buyer signature.
2) Once SPA is signed, Buyer will send the details of his Port Agency and the details of the CCIC inspector that will make the Q&Q in the Tank Terminal.
3) Seller will send to Buyer the following documents: First Commercial Invoice (A), last Q&Q made on the product and Certificate of Origin.
4) CIQ/CCIC to be organized and paid by Buyer and performed in the tank Terminal within 24 hours after receiving the documents from Seller.
5) When the Q&Q results are received and inspection has passed successfully, the Seller will issue: the Final Commercial Invoice (B) according to the Quantity obtained in the results.
6) Buyer makes full payment of the Final Commercial Invoice (B) for the cargo value via SWIFT MT103 within 24 hours after receiving the Final Commercial Invoice (B) from Seller.
7) After receiving payment for 100% of the Final Commercial Invoice (B) and Title is transferred to Buyer.