Date:16/2/2008
C2T Trading Company
C2Ttrading.bloombiz.com
Preliminary Offer ;
TO: THE PRINCIPAL END-BUYERS
COMMODITY:
1) D2 Gasoil L-0.02-62 GOST 305-82 (Russian Export Fuel Oil specification).
QUANTITY: 500,000 MT up per month for 12 period contract.
Minimaly conract must be 200,000MT monthly.
PRICE: The price shall be at fixed price throughout the one year contract at
USD $420/MT +/- Gross to Seller. CIF ASWP
(Incoterms 2000).
Or price shall be at Platt price at Discount USD $25/MT
(depending on the conditions of buyer).
2) MAZUT 100 GOST 10585-75 (Russian Export Heavy Fuel Oil M-100
specification).
QUANTITY: 500,000 MT up per month for 12 period contract.
Minimaly conract must be 100,000MT monthly.
PRICE: The price shall be at fixed price throughout the one year contract at
USD $350/MT+/- Gross to Seller. CIF ASWP
3)Russian Export Blend Grude Oil GOST 9965 (REBCO) specification attached.
QUANTITY:Up to 30 MILLION barrels per month for 12 period contract.
Minimaly conract must be 1,000,000 BBL monthly.
PRICE: The price shall be determined by reference to the average of the three
Consecutive days around the Bill of Lading (B/L) date (the day before,
and the day after) to be referred to the average quotation as reported by
PLATT’S Oil Gram price report, product price assessments. Cargoes
CIF MED. Basis Genova/Laveera Europe Marketscan Wire publication
With the Heading “Cargoes CIF” MED Genova/Lavera against Russian
Export Blend Grude Oil.
DISCOUNT: GROSS USD $6.00/BBL CIF AND NET USD $4.00/BBL TO BUYER.
IMPORTANT NOTE: THE PRICES FOR INDICATION PURPOSE ONLY AND CAN ONLY BE FIXED AFTER SUBMISSION OF ICPO.
CLAUSE 1:
NAME OF COMMODITY: As per listed (Russian Export Fuel Oil specification)
COUNTRY OF ORIGIN:
DELIVERY: CIF ASWP PORT.
CLAUSE 2: DELIVERY QUANTITY AND DELIVERY PERIOD
THE TOTAL QUANTITY OF THE COMMODITIES CAN BE DELIVERED MONTHLY FOR ONE YEAR WITH ROLL OVER AND EXENSION UP TO 60 MONTHS. BUYER MUST ISSUE LETTER OF CREDIT WITHIN 20 DAYS FROM THE SELLERS FCO. THE SHIPMENT SHALL BE IN EFFECT NO LATER THAN 30 DAYS FROM THE DATE OF RECEIVING THE CONFIRMED L/C AND COMPLETE IN ALL RESPECTS ACCORDING TO THE TERMS SET FORTH.
CLAUSE 3: STANDARD SPECIFICATIONS
Russian Export grade (Russian Export Fuel Oil specification) attached.
CONTRACT QUANTITY: As per listed above
DELIVERY : CIF ASWP (Incoterms 2000)
ORIGIN : COUNTRY OF
PACKAGING : BULK
PAYMENT : Type of Bank instrument as payment guarantee United States Dollars (USD) to be assisted by Irrevocable, confirmed, transferable or non-transferable and monthly auto-revolving Documentary Letter of Credit (DLC) 100% at sight from top 30 ranking prime World Banks at sight cover each monthly shipments and that revolves and is automatically reinstated after payment for the first shipment until completion of the contract quantity, DL/C beneficiary is Seller.
INSPECTION SGS/CCIC INSPECTION AT LOADING PORT
SELLER
LOADING HANDLING OF GOODS, FRIEGHT & INSURANS TO
BE INCLUDED IN PRICE AT LOADING SIGHT
PROCEDURE:
Petroleum : Procedures
1. Buyer issues LOI to the Seller.
2. Seller issues the FCO to the Buyer and the Buyer signs and seals the acceptance of the FCO and the returns the original to the Seller. (FCO Valid 5 Working Days)
3. Within 5 international banking days the Buyer must issue Irrevocable Confirmed Purchase Order (ICPO) and the Bank Comfort Letter (BCL) signed by 2 Bank officers to the Seller Bank. (Soft Probe or RWA may be acceptable)
4. The Seller will issue a softcopy of the Agreements to the Buyer and when both parties agree on the draft both parties will sign the Contract in a way convenient to both. If by courier, then four originals will be sent to the buyer for the signing and return.
5. Buyer’s Bank issues Seller’s Bank and an Unconditional, Callable, Irrevocable, Transferable, Negotiable, Divisible, Assignable Bank Guarantee (BG), for the value of one or three month’s supply. From A Prime 25 World Rated Bank, and Posted on European Euroclear for Verification.
6. Within 21 international banking days after Seller receives Positive Verification and Validation of the BCL + ICPO and the BG, the Seller will provide Part Proof of Product-Allocation Number.
7. Buyer’s Bank issues Seller’s Bank a Non Operative, Revolving, Assignable, Irrevocable, Divisible, Transferable, Confirmed, Documentary Letter of Credit (DLC) (one month’s supply worth).
8. Seller issues Operative Performance Bond for 2% of one month’s delivery, which automatically makes Buyers DLC operative.
9. The Seller’s bank will automatically make the 2% Performance Bond (PB) Operative within 3 international banking days after the Revolving Letter of Credit (DLC) issued by Buyer to the Seller becomes operative.
10.The Seller will provide Charter Pay Agreement to the Buyer, within 14 international banking days, after the Seller receives and confirms the DLC (and other documents listed above).
11. After the Seller’s bank receives and confirms the DLC (and other documents listed above), the Seller will within 45 Working days proceed to start loading the Commodity based on the DLC received and confirmed, quantity, port of delivery, import license and other related documents from the Buyer. The 2nd and subsequent delivery will be within blocks of 30 Working days (as per loading schedule).
12. Shipment(s) take place as per contract.
13.Others are as per contract
We also confirm, that for registration allocation a product addressed to the buyer the seller under the law should receive the confirmed application (ICPO) and BCL. Only after that the seller can let out (release) the contract with registered in the ministry of power of
This OFFER valid for a period of FIFTEEN DAYS (15) from date of issue
Best Regard
Itthirat Yamaphai
C2T Trading company
SPECIFICATIONS:
Russian Origin D2 Gasoil L-0.02 – 62 (GOST 305 - 82)
| 1 | Cezanne number min | | 45.0 min |
| 2 | Distillation, 50% | °C | 280.0 max |
| 3 | 96 % (final boiling point) | °C | 360.0 max |
| 4 | Kinematics Viscosity at °C | mm² / CST | 3.0 min / 6.0 max |
| 5 | | % max | 0.02 |
| 6 | Merchantman sulphur | % max | 0.01 |
| 7 | Hydrogen Sophie | | Absent |
| 8 | Copper Strip test | | Pass |
| 9 | Water soluble acids and alkalis | | Absent |
| 10 | Actual gum content | mg / 100cm² | 40.0 max |
| 11 | Acidity | mg / 100cm² of gas oil | 5.0 |
| 12 | Iodine numbers | g / 100g | 6.0 max |
| 13 | Ash | % | 0.01 |
| 14 | Capability of 10% residue | % max | 0.20 |
| 15 | Filtration coefficient | | 3.0 max |
| 16 | Sediments | | Absent |
| 17 | Water | | Absent |
| 18 | Density at | Kg / m³ | 860.0 |
| 19 | Flesh point ( closed – up) | °C | 65.5 min |
| 20 | Pour point from Mar to Oct ( summer ) | °C | - 5.0 max |
| | Pour point from Nov to Feb ( winter ) | °C | - 10.0 max |
| 21 | Cloud point from Mar to Oct ( summer ) | °C | 0.0 max |
| | Cloud point from Nov to Feb ( winter ) | °C | - 5.0 max |
| 22 | The product is guaranteed by the Seller NOT to contain bacteria and other micro – organism’s contamination above normal level (1000 CFU / L ) | ||
Specification of Heavy Fuel Oil / MAZUT M100 (GOST 10585/75)
| COMPONENT | RESULT |
| 1. Ash content, not more % 灰份 | 0,14 |
| 2. Mass fraction of sulphur, not more % 硫份 - low – sulphur – residual – oil | 0,5 |
| 3. Temperature of the flash, not less ºC in the closed crucible | ≥65 |
| In the open crucible ºC | 110 min |
| 4. The temperature of solidification, not higher ºC | 25 |
| 5. Kinematics viscosity at 50ºC 运动粘度 | 118 max |
| 6. Water content 水最大 | 0.5% |
| 7. Mechanical impurities 机械杂质 | Lower than 0.1% |
| 8. Acidity 酸 | Lower than 5 mg KOH/ 100ml |
| 9. Alkalinity 碱 | Nil |
| 10. Gross Calorific Value Kcal/kg / KJ/kg 热值 | Min9200/41300 |
| 11. Density at 15.0 deg. C Kg/l 密度 | 0.890-0.9200 |
| 12. Hydrogen Sulfide Content (H2S) pom | 0.5 max |
| 13. Carbon Residua 残碳物 | Lower than 7% |
| 14. Vanadium (V) ppm 钒 | 23 |
| 15. Aluminium (Al) ppm 铝 | 5 |
| 16. Silikon (Si) ppm 硅 | 12 |
| 17. Nickel (Ni) ppm 镍 | 49 |
| 18. Asphaltenes m/m 沥青质 | 3.6% |
| 19. Destilation @4 mm Hg | |
| Extracted to | |
| Initial Boiling Point deg. C 最初沸点 | 216 |
| 5% recovered deg. C | 259 |
| 10% recovered deg. C | 310 |
| 20% recovered deg. C | 358 |
| 30% recovered deg. C | 445 |
| 40% recovered deg. C | 502 |
| 50% recovered deg. C | 534 |
| 60% recovered deg. C | 538 |
| 75% recovered deg. C | 545 |
| 80% recovered deg. C | - |
| 90% recovered deg. C | - |
| Final Boiling point deg. C | 550 |
| Percent Recovered vol | 78% |
| Residue vol | 22% |
| Total Nitrogen m/m | 0.192% |
| 20. Sodium (Na) ppm | 15 |
REBCO Buyer/Refinery should provide the following:
1. Refinery Number:
Required: Refinery No. & Full Address in LOI / ICPO.
2. Storage Capacity:
Required: Storage Capacity (____________ million Barrel in LOI / ICPO.)
3. Processing Capacity:
Required: Refinery’s Processing Capacity in LOI / ICPO.
4. Processing Agreement:
If Buyer (L/C issuer) is not the end-refinery, please provide this agreement between
Buyer and Refinery that duly endorsed and notarized by a Notary Public.
5. Letter of Authority to procure and purchase REBCO:
Letter of Authorization: Letter of Authorization from Buyer and Refinery to Seller (XXXXX) that is duly endorsed and notarized by a Notary Public.
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