AboutDavide Andrew Papa Expertise All matters pertaining to assisting Private import export INTERMEDIARIES, AGENTS and BROKERS Regarding International trade Laws and procedures,Letters of credits, as per UCP 600,Presentation, Commissions,International Rules of agency, and Incoterms 2000. All matters pertaining to shipping documents relating to the Import and export of products from one country to another.All matter for buyers and sellers of commodity products relating to the import and export industry.FTN with the introduction of UCP 600 will release the publication "The world is yours"(2004) made specifically for Intermediaries.Current inhouse tra ining manual is "Follow the Yellow Brick Road"(2008) Our advice website is www.ftnexporting.com
Experience FTN exporting founder Davide Papa has been trading for over 20 years- and has dealt with a huge variety of corporate entities including Gold and crude oil suppliers. FTN appeared in a major controversial Newspaper editorial in 1994. FTN Exporting official publication "International Trade and the Successful Intermediary"(ITSI) is about to be released world wide (December 2009) by the prestigious U.K publishing firm Gower's (U.K) and is listed on Amazon.com (Keyword: International Trade Intermediary) ITSI is ostensibly the first uniform intermediary trading doctrine of its kind, and will become the standard intermediary practice world wide in years to come. FTN exporting has created the said doctrine and supporting rules of trade defined as "URPIB" (Uniform Rules and Practice for Intermediaries and Brokers), which will (has?) become the most successful set of private intermediary rules ever created.
Publications The World is Yours and "Follow the Yellow Brick Road" www.ftnexporting.com . Author of "International Trade and the Successful Intermediary " (ITSI) 2009 excepts on http://www.gowerpub.com/default.aspx?page=637&calcTitle=1&title_id=11177&edition_id=12138
Education/Credentials Let school early. Became a master chef . Took up business management and later studied "international Trade at Stott's college Melbourne, Australia.
Question Am just a student and am trying to understand the oil business.
Is there such a thing as a crude oil Tanker to Tanker take over? I have seen these offers online from Nigeria but don't understand what this means.
Is this a fraud or is there such a thing? Craig
Answer
Dear Graig
Yes There is such a thing- especially for the offshore Biafra (Angola) Ocean delivery (Owned by NNPC)- But Intermediaries cannot deal is such shipments because they are simply too risky and often require unworkable type of procedures- If you want to know if the product is fake - then see the offer specification are as follows in part- the Name of the product is QUA IBOE. Origin: Bight of Biafra east of the OSO field.(about 40 miles offshore of south eastern Nigeria) Exxon are field operators owning 40% of the operation NNPC own 60 percent . API is Qua Iboe is 36 deg. Sulfur 0.1% Pour point at 60 F TAN 0.32 mg KOH/g. Nickel is 4.1 ppm.
If unsure - then ask the "seller" what the specs are- if it comes back as above so far so good , otherwise its a fake-
But as stated conducting due Diligence is one thing- There is no point is doing so for this deal-
As for Bonny crude- Such is shipped from The Chevron/Texaco and exported via Bonny Shell operated terminal Nigeria and is only part owned by the NNPC- So Chevron has to sell you Bonny crude -all other offers offering as such are fake-and there are many of such.
Transshipment: The Tanker of the seller is filled with crude oil as a storage vessel from the Oil Rig- The Buyer ship draws next to the storage ship and pumps the crude from such- but this is defined to be a "Trans-shipment" thus Intermediaries will have problems as well with payment issues as most DLC applications will not allow trans-shipment to apply-
Drop the deal- totally unacceptable type of deal for intermediaries to trade with-
Regards
Davide G.A.Papa
www.ftnexporting.com
Author "International trade and the successful intermediary"
