Operation
For processed oil trading, the group is used to receive master L/Cs from its buyer and then back out L/Cs to its supplier. We may also accept open account trading with global enterprise buyers.
With respect to bunkering, we source and load directly from oil refineries using large oil tankers, and then sell through brokers to end users, who are mainly fishing vessel operators, in various regions. Brokers usually make 30-50% deposit to our Hong Kong bank accounts before our tankers sail to the broker-designated spot. After broker settle the balance in our bank account, we will instruct tankers through our Taiwan logistics centre to unload the oil into end user vessels. We may also offer more favorable payment terms to long-term, creditworthy broker partners.