Park Sung Senior Consultant Seoul Internet

we heard the same from other clients on this supplier. it has become now a days normal to claim everyone is title holder of the product. Russian fuels are presold 90% above and only 62 legit refineries registered with ME, Russia sell through offshore companies in cyprus, CH, BVI etc. and some sell directly on export.  if some one claims real seller, buyer must ask past carrier bill of lading, dock receipt at terminal. In russia, also customs tax to be paid by shipping company , so also demand CPA of vessel to check if that vessel has really been sub chartered or chartered to so called sellers. stay away from someone who claim that can sell goods based on LC . Chinese are purchasing on BG and LC for iron ore, coal etc and make 90-98% payment and later at CIQ. The oil deals in market ask for LC is impossible . But if some one ask confirmed LC, SBLC or BG without showing verifiable past records or even cannot fulfill minimum 5000 MT trial cargoes, walk away from them to end in scam in last minute. TTM with second class sellers is waste of time because anyone can produce such documents in few dollars and show it . we also came to know this seller went to malaysia and hongkong to meet some sellers and looked at their records, never showed his abilities and then used that information they shopped to reach to some contacts in Russia, claims to be seller. however all buyers keep in mind, ask buyer to show past carrier BOL, dock receipt, throughput record, customs duty paid, CPA. This is must for all second/third class seller who claims they have oil