World News
Broker Saddled with $777,000 Bunker Bill after Paperwork Error
A paperwork mistake by a shipbroker led to it being responsible for a $777,278 bunker bill, according to an account in the International Transport Intermediaries Club Ltd. (ITIC)'s Claims Review summarised in a press statement.
In the case, a chartering broker arranged for the purchase of bunkers on behalf of a charterer traveling from the Black Sea to Singapore, but, instead of listing the charterer as the buyer, who was the disponent owner, the broker mistakenly ordered the bunkers in the name of the vessel's registered owner.
The bunkers were supplied and signed for at the ship, and the supplier invoiced the registered owner for the cost, care of the broker, which amounted to $777,278.
The invoice was then forwarded to the charterer, who failed to pay the bill saying initially the delay in payment was due to the fact that they were being audited.
Eventually, the bunker supplier's lawyers approached the registered owner for payment and were told they had never agreed to buy the fuel and that the responsible party should have been the charterer.
The registered owner added that if the bunkers had been purchased in their name then this was a misrepresentation on the part of the broker, who had provided the information to the bunker supplier.
Lawyers then targeted the broker, who ended up entering a settlement.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 509.00 | 4.50 | 623.00 | 3.00 |
| Rotterdam | 463.00 | 7.00 | 623.50 | 2.00 |
| Houston | 471.50 | 4.50 | 627.50 | 3.50 |
| Fujairah | 501.00 | 4.50 | 714.00 | 1.00 |
| Global 20 Ports Average | 529.00 | 2.50 | 714.50 | 2.50 |
| Global 4 Ports Average | 486.00 | 3.00 | 647.00 | 2.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 753.00 | 2.00 |
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