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FAQ's
FAQ's Center
Qusetions

 

Answers  

Q1.Can anybody registers to the site of the shipnoil.com, or only certain companies?

If you are an oil trading company, a ship Owner, ship Charterer, refiner, wholesaler, producer, the owner of the trucking company, or have an ancillary interest in the energy business, you can register on our site.

Q2.What are the charges for registration?

There are no charges for registering your company on this site. However. It will be necessary for us to have a complete credit check on a company in order to make sure that the company, which is registering, would perform on its commitments. Normal to check is 48 hours. More time may be required in some cases.

Q3.How will our Company is protected?

Your company is fully protected as far as security is concerned. We will make every effort to list only those companies, which have an excellent credible rating of performance. In addition, with the help of some Big Five accounting firms, as well as some energy banks we will keep updated information of all those who register with us.

Q4.What kind of sign up fee we would be required to pay?

There is no sign up or registration fee. You will only pay a brokerage fee if you are a seller of the petroleum products, crude oil. or a ship or a trucking company owner. In some cases, particularly in paper trades, or exchange of the petroleum products or crude oil, some fee may be required to be paid by the buyer.

Q5.What are the rates?

The rates or fees would vary for every company based upon the products that would be traded. The rates for ship owners, as well as the trucking Companies, would be based upon completed transactions, and would be advised after their registration process is completed.

Q6.Would any company be able to cancel or edit the inquiry posted?

Yes, however, if some one has met the reserve price of the other party, or the transaction has been finalized, it cannot be cancelled. The Admin would be able to advise the parties if the reserve price has been met or not.

Q7.Can we retrieve the information of the all posted and cancelled inquiries?, and if so how?

Yes, users can retrieve and post an update only on those inquiries which are expired or no bid is posted against them as of the termination date. Each section gives you the list of all inquiries, both which are expired or under auction. From there you can post an updated request.

Q8.Message Center: Would the other party know when we send a message for an inquiry, or ask for a conference call about our identity?

No, not until the deal is finalized or matured.

Q9.What are the payment terms?

Payment or the commission would be due in 30 days to shipnoilbrokers.com after the deal is finalized. The payment terms between the buyer's and the seller's of the products, ship chartering, truck rentals, etc. would remain the responsibility of those parties trading with each other. Ship N Oil Corporation, providing the service of brokerage under Shipnoilbrokers.com will send an invoice via the e-mail and receive the payment electronically.

Q10.What products can we Trade, Buy or Sell on this site?

One can trade the following products: crude oils, clean and refined petroleum products, heavy fuels including asphalt, bunker fuels, and lubes. In addition to the above, one can charter ships, rent trucks and exchange petroleum products within the United States, and other countries and regions as well.

Q11.What are the advantages of using this site?

More access to various markets, better prices and quick turn over. No missed phone calls, no more faxes. You can request a conference call and conclude a transaction in a very short time period, while dealing directly with the other party without disclosing the identities. One stop to trade various products. The ship owners while chartering their vessels, can purchase bunker fuels, and the lube oils for their ships. The oil trading companies can determine the current market situation, without waiting for someone to call them back.

 
 
 
 
 
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