What that list actually means ?
Every year when the result is announced, all my clients and trader friends are scrabbling to see the result, thinking which supplier they should use more and have all the theory of why this supplier go up 4 places and this one drop by 7 places, to me that figures or rank doesn’t mean much than a benchmark of how their strategy of attacking in the previous year.
Higher ranking means less risky ?
Even a high rank supplier can go down anytime, we see supplier in Top 10 listed got busted and gone in last year, so if you think solely depends on the rank to vet a supplier ( a details list of how to vet will be available soon) , you are making a huge mistakes.
Higher ranking means more profit ?
The ranking also based on the volume of the supply is doing, also means more barge is employed for the supplier. In one way that could means he got more resources, but also could means there are more cost involved for the supplier . Different from bunker trader , the more volume the physical supplier do doesn’t means they earn more money. As a trader is living solely base on margin / broker fee, the more he do the more he could earn ( excluding the financial cost like late pay customer ), however for physical supplier the increase of supply doesn’t necessary means they earn more, as he is also exposed to more price movement , more turnover of barge and extra crew working time.
Lower ranking means “bad” supplier ?
Different from other port, the demand / result could reflect directly from the customer satisfaction and previous performance of a supplier , however in Singapore now all supply have to follow TR28 MFM barge figures way for delivered volume, even the lowest ranking supplier with the MFM actually is the same bunker procedure as the number 1 supplier . However the different will be normally for the lower ranking supplier got few barge, so the probability of delaying supply will be higher .
Hope above give you a new insight
Until Next time ~
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