Whats the different between indication price and enquiry price ??
Normally we want to know indication price for various reasons
- Price trend comparison
For example we have a vessel coming to Singapore in 3 weeks time, we know the window of fixing it probably around 7-15 days before the ETA as by then we will know the more accurate ETA, quantity and a better window in terms of price movement. Knowing the indication price we then can have a feel on hows the price trend and once it hit our desired price range we then can send out a firm enquiry and get a firm offer.
2. Price check across different ports
Your vessel might have few supply options, for example very common for most of VLCC they have an option to take either in Fujairah or Singapore, which port they should go ? By knowing the rough indication price then they can make some calculation based on fuel price, deviation, port charges, etc to make the most economic beneficial decision on where to take the bunkers
Why indication and enquiry price is different ?
A common mistake is buyer often confused indication and firm offer price. A indication price is just a random price based on the reasonable price range on certain offer on the date , however a firm offer is based on your exact ETA, which vessel, quantity, and supplier will then calculate accordingly and give you the more accurate offer .
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