Demurrage Negotiator
Job title: Demurrage Negotiator
Location, Canary Wharf, London
Job Type: Temporary
Company:
We are the pre-eminent Oil Commodity Trading business that is built on supplying and trading the international and emerging markets around the world.
Team:
The Demurrage Team forms part of the wider Operations Team within Global Oil Europe and is responsible for adding value to oil trading activities by providing expertise associated with voyage chartered tonnage, contracts of affreightment and oil contracts for both the vessel and barge markets.
As part of a team you will be responsible for adding value to our oil trading activities by managing your own portfolio of demurrage claims and post fixture expenses on behalf of your trading bench. This involves payment of freight and handling demurrage expense claims resulting from contracts with owners, oil majors and trading companies. You will work in close co-operation with the trading community to provide analytical information and guidance to the trading benches, in order to reduce the risk of demurrage exposure and optimise demurrage prevention to ultimately maximise trading profits.
The Demurrage Team is a highly motivated, exciting, innovative and diverse team which is the centre of expertise for demurrage and post fixture expenses within Global Oil Europe.
The role offers career development opportunities to progress through the team development structure and gain knowledge across the many trading teams we interact with in Global Oil Europe.
The essential skills of the team are negotiation, numerical, analytical and communication with the ability to develop and maintain strong relationships.
The job has a commercial input and a need to communicate with a variety of third parties, group companies, traders, operators, charterers, brokers and other staff. The Demurrage team is also responsible for challenging and changing workflows and procedures to ensure optimum efficiency is achieved in the handling of demurrage, expense claims and freight payments.
Roles Responsibilities:
- You will ultimately be responsible for managing your own portfolio of claims on behalf of your trading bench;
- Calculation, preparation, verification of freight, contract shipping expenses and demurrage claims/invoices in accordance with oil trading contracts, general terms conditions and charter party terms;
- Ensuring strict adherence to various contractual/charter party time bar clauses, minimising our commercial loss;
- Responsible for demurrage, freight and expenses on behalf of select group companies;
- Investigation and collation of the facts and data gathered from Traders, Operators, Charterers, the Contracts Team etc., in order 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;
- Developing and maintaining relationships with 3rd parties including trading companies, shipowner’s and brokers;
- Upon agreement, issuing and settlement of invoices through our accounting systems. Assign costs to appropriate benches to ensure accurate PL’s are reflected, collaborating with Settlement Analysts and Product Control 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 product control;
- Offer advice/feedback and commercial assistance to traders, operators, charterers, contracts team etc., to optimise efficiency and demurrage prevention.
Essential Skills Competencies:
- Relevant Demurrage experience
- Numerical and Analytical Skills
- Negotiation Skills
- Time Management and Organisational Skills
- Pro-active and able to work with minimal supervision
- Commercial Awareness
- Oral and written communication skills
- Ability to Communicate at all levels
- Ability to interpret contracts
- Attention to detail
- Team player and work on own initiative
- Interpersonal, networking and influencing skills
- Ability to build and maintain relationships
- Ability to undertake administrative tasks
- Ability to use numerous and varied internal BP Group systems
- PC literate - Microsoft Word, Excel, PowerPoint, Outlook
Education / Certification:
- A Level / Degree
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