Subject: Fwd: LOI
From: Commercial <[email-masked]>
To: [email-masked]
Date: Sat, 28 Oct 2023 12:26:51 +0330

Sent from my iPhone

Begin forwarded message:

From: commercial fayaz <[email-masked]>
Date: October 24, 2023 at 15:38:37 GMT+3:30
To: [email-masked]
Cc: [email-masked]
Subject: RE: LOI

Dear sir,

With reference to our Lois dtd 12 &18 Oct. and pursuant to your feedback dtd 20 &21 oct.2023 please be advised that we went through your reply and also  kept  negotiating  with our client and

Consequently, we draw your kind attention to the following:

1-      Grade: Crude Oil (Pure Light)& Heavy

2-      Quantity: 1,000,000 Bbls. Light &1,000,000 Bbls. Heavy (±10% as operational tolerance).

3-      Cargo Size: Suez max for each grade separately and/ or preferably VLCC for both grades on 50/50 basis or full cargo of Light (VLCC).

4-      Delivery Term: FOB PG (preferably via STS in PG)

5-      Destination: Any safe port in China. We shall revert with the specific port(s) and refinery(ies) in advance and before reaching to the final agreement.

6-      Price: ICE Brent Settlement minus 17.00 USD per Bbl for Light & 21.00 USD per Bbl for Heavy.

7-      Pricing Period: Average of all available quotations during the month M+2 after the BL (BL Month=0) for the first nearby contract of ICE Brent Settlement Index.

8-      Discharge Period: During the month of November 2023, provided that you nominate the laycan at least two weeks in advance.

9-      Guarantee: Local Bank Guarantee in hard currency.

10-   Payment instrument: TT in seller’s nominated bank accounts.

11-   Payment Currency: USD, RMB, Emirate Dirham or any other currency to be mutually agreed.

12-   Quality & Quantity Determination: shall be based on the mother vessel (before and after discharge into the receiving vessel) in case of STS operation or BL figure which is issued and verified/confirmed by the port authority at the loading port. However, the buyer has the right to appoint an independent inspector at its own cost to witness the loading operation. However, should the volume of loss on the daughter exceed 0.2% then the average of both vessels shall be taken into account for B/L figure(s) calculation.

13-   Payment Due Date: 90 days from B/L date( B/L date counts as day zero).

Best regards,

Marketing  Department

H.S.

From: [email-masked] [mailto:[email-masked]]
Sent: 20 October 2023 17:30
To: [email-masked]
Cc: [email-masked]
Subject: RE: LOI

Dear Sir,

Ref. to your email dated 12th Oct. 2023, please note followings :

1) Heavy Crude Oil can be supplied

2) Final destination should be submitted such as port and refinery

3) Price formula is ICE BRENT settlement minus 20USD per BBLS for Heavy Crude Oil

4) Pricing period is average of all available quotation during the month M+1 after the month of issuance of B/L (B/L month=0) for first nearly contract of ICE BRENT Settlement index.

5) Quality & Quantity all mother vessel documents are referred for quality and quantity.

Best Regards,

Commercial Department

Sahara Thunder

----- Original Message -----
From: commercial salili [mailto:[email-masked]]
To: <[email-masked]>
Sent: Thu, 12 Oct 2023 14:53:31 +0330
Subject: FW: LOI

Dear Mr. Hossein javad,

Please find the attached LOI.

Best Regards,

Marketing Department.