Recently I have come across an interesting service by a firm which pitching a paid price indication service . The salesperson told me if I am a bunker trader its almost a must because it could bring me much competitive advantages. I can’t help but ask – “ why would I pay for the service when I could just ask or check my email with 20 others supplier sending me indication daily ?”. As a sales for more than 15 years I go into mode of “ what if I am the sales and I want to sell this service”. Also for a firm who set up to provide solely price indication service, they must have done some marketing research on the demand of the supply so they must have some info that I am missing here.
Despite the claim they have over 150+ ports avail among the world , usually for most shipper even traders only care few main ports , or 80% on the same port and 20% will have some “exotic” choice. Also what is the source of the indication price ? It would be the same or better accuracy if client could simply ask local trader/ supplier due to closer relationship ( or worse as trading margin involved ). Unless similar to the platform I mentioned previously , the indication price is calculated from the submitting of actual fixing price from multiple buyers then the numbers is getting more significant.
I guess what puzzle me is why will I pay for an indication price service while at the present I could
1. Get the information for free
2. Direct information from the physical supplier / local traders
Until next time
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