The most frequent question asked from client on a daily basis
There are many factors when considering when you should fix the enquiry
1. Price Trend
You probably not willing to fix when the market is up USD 20 on that day and try to get as low as possible. A common belief I see from clients is if today is dropping, tomorrow should be going down also ; If today is going up, lets wait tomorrow when the price come down. Thus its always try to drag for last minute while price no longer the lowest or the supply schedule is getting tight (more details later ). Getting a feel on market and not fixate to get the “LOWEST” sometimes can bring better result. Also, when you ask your trader / supply if tomorrow will up or not , take it as reference only, as we know whats the price trend – WHY will i sitting here chatting with you ?
2. Supply conditions
It vary from port to port. Sometimes your vessel come in 2 days and every supplier can do so the price can be more negotiable. However if you come tonight in 6 hours and only 1 supplier can do , even price drop 20 today i don’t think you will get a very desirable price either. A practical tips i recommend is always ask 14-21 days in advance for your channel on the supply situation and work backwards on the period you have to fix and look at the trend there.
3. Beware of special date
On certain date if there is a history of shortage on the port and your vessel is going on the ETA range, its advisable to book a book earlier. For example, its a custom that in Chinese New Year and labor Day (first week of May), the MGO in Hong Kong is always shortage ( too much Nian gao in the holiday ). Check with your trader / supplier before any special holiday /festival ahead and will it affect the supply.
Hope you find the above information helpful and as always – Until next time !
<This is a personal blog. Any views or opinions represented in this blog are personal and belong solely to the blog owner and do not represent those of people, institutions or organizations that the owner may or may not be associated with in professional or personal capacity, unless explicitly stated. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual.
All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information. >
