Originate and qualify
Identify executable supply or demand and establish counterparties, authority, product and route.
How we trade
Physical transaction execution from origination to settlement.
Physical transactions are managed across commercial, contractual, logistical, financial and control functions.
Execution model
Commercial, operational and documentary workflow.
Each trade begins with identifiable supply or demand and proceeds through counterparty approval, contract structuring, cargo operations, documentary control and settlement.
Structure and approve
Agree commercial terms, complete compliance and credit review, and confirm banking viability.
Contract and prepare
Execute contracts, arrange payment security, and nominate vessels, terminals and inspectors.
Perform and settle
Load, document, deliver, reconcile, settle and close out the transaction record.
Transaction workflow
Fifteen controlled stages.
The exact sequence varies by delivery basis and bank structure, but each transaction must address the following commercial and control gates.
- 01
Opportunity origination
Identify direct supply or qualified demand, product, quantity, timing, destination and delivery basis.
- 02
Preliminary commercial review
Test indicative economics, route, freight, working-capital needs and execution feasibility.
- 03
Counterparty identification
Confirm the legal entities, commercial authority and intended role of each participant.
- 04
KYC/KYB and sanctions
Review ownership, control, reputation, jurisdictions, vessel exposure and applicable trade restrictions.
- 05
Product and title verification
Establish source, specification, allocation, title path and chain-of-custody evidence.
- 06
Indicative commercial terms
Align price basis, differential, quantity, tolerance, delivery window and conditions precedent.
- 07
Credit and banking review
Confirm limits, acceptable banks, instrument structure, tenor, liquidity and settlement path.
- 08
Contract negotiation
Agree quality, quantity, title, risk transfer, inspection, documents, remedies and governing law.
- 09
Payment security
Approve and authenticate the applicable LC, SBLC, guarantee, collection or other agreed structure.
- 10
Vessel and terminal nomination
Coordinate vessel acceptance, terminal compatibility, laycan, agents and voyage instructions.
- 11
Inspection and loading
Manage sampling, measurement, quality, quantity, pumping and operational records.
- 12
Shipping documentation
Produce and reconcile bills of lading, certificates, invoices and contractual documents.
- 13
Discharge and outturn
Coordinate receiving-terminal performance, independent inspection and quantity reconciliation.
- 14
Settlement
Present compliant documents, complete bank-to-bank payment and reconcile receipts.
- 15
Close-out and retention
Resolve claims, calculate laytime, close exposure and retain the complete transaction record.
Commercial structure
Contract structure and exposure management.
Contract terms are built around the specific cargo and route. Product quality, quantity tolerances, delivery basis, laytime, title transfer, inspection, documentary requirements and payment mechanics are agreed before execution.
The trading model is led by physical flows. Transactions may be structured back-to-back, matched or hedged where applicable, with open exposure managed within approved parameters.
Counterparty approval
Commercial capability, ownership, reputation, credit and onboarding evidence.
Cargo and title
Origin, specification, title, chain of custody, inspection and documentary consistency.
Logistics readiness
Vessel, terminal, timing, sanctions exposure, freight and operational alternatives.
Trade finance
Documentary trade finance and bank instruments.
Documentary credits, guarantees, collections or other agreed structures are transaction-specific and subject to bank approval. Instrument wording and authentication are agreed through appropriate banking channels before reliance.
Trade-finance frameworkExecution ownership
Commercial decisions and operational controls remain distinct.
Operations monitors nominations, vessel and terminal readiness, inspection appointments, document production, presentation and reconciliation. Exceptions are escalated through defined authority rather than resolved informally.
Commercially sensitive bank details, contracts, inspection reports, vessel documents and counterparty information are exchanged only through controlled channels with qualified parties.