EMEA News
ARA 30-Day Payment Terms Dropping to Seven: Sources
Terms of trade have altered dramatically over the last week with buyers being asked to settle in cash or on seven-day terms.
Some suppliers have already gone on to shorter payment terms.
"That is definitely the trend," an ARA-based bunker supplier told Ship & Bunker on Monday. The supplier made the switch early last week.
Others are going for cash settlements.
"We are sticking to cash mainly," a Mediterranean-based trader said.
The changing payment landscape is a reflection of the market's extreme volatility as players do their best to assess the impact of sanctions. And while there might be supply available, deciding whether or not it is viable is another matter.
"There are plenty of Russian fuel oil cargoes on the water but no buyers," the trader said.
