Hello,
Its Engr. Nwosu here. I have a buyer that needs 2-4 million barrels of BLCO or 1-2 vlcc's, CIF only. He can also do TTO with 2% performance bond. He will give financial instrument , DLC, irrevocable and confirmed. About his capacity, he has $200 million of his own and lines of credit for $800 million. Easy enough to confirm, he needs a seller that is willing to offer an operative 2% performance bond, seller to buyer before he offers DLC. Bank is then in control of the $200 million.
Is it workable?
(Engr.) Godfrey
MR CHUKWU***