Demurrage Negotiator
Kuala Lumpur, Malaysia
Job Description
Location
Malaysia - Central - Kuala Lumpur
Travel required
No
Job category
Supply & Trading
Relocation available
No
Job type
Professionals
Job code
148269BR
Experience level
Intermediate
Job summary
The Demurrage Team provide an outstanding service to Trading & Shipping for handling demurrage and shipping related ancillary charges. We are experts for vessels and barges in the calculation and payment of freight, calculation and negotiation of demurrage claims, calculation, and negotiation of related shipping costs such as deviation, detention, port costs etc., and the interpretation of the contract clauses to minimize exposure to claims wherever possible.
The Demurrage Negotiator is responsible for managing a portfolio of demurrage claims and post fixture expenses. This involves payment of freight and handling demurrage and expense claims resulting from contracts with owners, oil majors and trading companies. Working in close co-operation with the Trading & Shipping community to provide analytical information and guidance to the trading benches, to reduce the risk of demurrage exposure and optimize demurrage prevention to ultimately improve trading profits.
Key responsibilities:
- Manages a portfolio of barge/vessel claims in a detailed way to ensure time bars are not missed, meaningful responses are provided to counterparties, rigors negotiation is undertaken, and claims are closed in a timely manner.
- Calculation, preparation, verification of freight, contract shipping expenses and demurrage claims/invoices in accordance with oil trading contracts, general terms, and conditions and charterparty terms.
- Ensuring strict adherence to various contractual/charterparty time bar clauses, minimizing BP?s commercial loss.
- Responsible for demurrage, freight, and expenses on behalf of selected BP group companies.
- Investigation and collation of the facts and data gathered from Traders, Operators, Charterers, Legal and Tax Advisors to fully assess each individual demurrage claim.
- Negotiation of disputes with Group companies or Third parties using email, fax, telephone, and face to face negotiation. Improving value of each claim for bp within the context of ongoing relationships.
- Creating and maintaining relationships with 3rd parties including trading companies, barge owner?s and brokers. Leverage these relationships to aid BP group and demurrage negotiation.
- Hold commercial relationships and manage complex negotiations with external counterparties to improve value recovery and advance bp?s interests.
- Appropriately assigned costs to relevant benches to ensure accurate profits and losses are reflected, collaborating with Settlement and Commodity Risk teams to ensure this is done in a correct and timely manner.
- Provide detailed analytical assessments on a regular basis of outstanding claims/costs to trading benches and commodity risk.
- Identify improvement opportunities, provide feedback, and work with traders, operators, and contracts team to optimize efficiency, improve contractual terms and create demurrage prevention.
- Review ways of working to drive process optimization and a focus on delivering value.
- Provide commercial assistance to the oil and ship operators, oil traders and ship charterers. Ensure lines of communication with key collaborators are maintained and applied as required.
- Provide training and develop awareness of Demurrage activity and value to the team and across the Refining & Products Trading business.
- Ensure compliance with all BP policies and procedures including Shipping policy and credit requirements.
- Work collaboratively across the Demurrage team to support team delivery.
- Ensure systems data is updated accurately and supervise data flows ? flagging where concerns are raised.
You should be able to demonstrate or have a consistent track record encompassing the following key foundation skills:
- Relevant university (economy or finance) degree
- Minimum of 1-2 years of experience in finance or trading, or shipping
- Global/ multi-national company work experience is an advantage.
- Knowledge about the trading or shipping industry, physical oil environment.
- Strong commercial instinct ? a focus on delivering integrated value for BP.
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Job Detail
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Job IdJD944128
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IndustryNot mentioned
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Total Positions1
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Job Type:Full Time
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Salary:Not mentioned
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Employment StatusPermanent
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Job LocationKuala Lumpur, Malaysia
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EducationNot mentioned