Since Singapore MPA started publishing yearly bunker volume in , “All Bunker Suppliers by Volume” is the spotlight every year. Who is the king of Singapore bunker market this year ? Who move from 1th to 4th or jump into higher position ? It’s been a long tradition that client prefer supplier with higher ranking , or traders might market their service with their exclusive relationship with top ranked supplier.
However in 2021 this paradigm have to be upgraded. Throughout the last few years , the higher the ranking of independent suppliers doesn’t equal to less risk. From China-owned top company to old school Singapore barge operator both failed in the past few years from top spot. Considering ranking as the sole criteria is not the smartest option for trader and shippers.
Yet it’s still difficult or not feasible to get financial report from all the physical supplier you are currently working with or trying to work with. There are still many ways client should employ for background check such as
1. Third party credit report
2. Market rumour / gossip with your neighbour
3. Recent Performance of the supplier
Make sure to have multi angle when considering your counter party risk.
Until next time
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