Trade Operator (Dry Bulk)
3 days ago
Trade Operations:
Analyze contractual terms and obligations to meet shipment requirements for dry bulk commodities (e.g., coal, iron ore, bauxite, ..
Trade Operations:
- Analyze contractual terms and obligations to meet shipment requirements for dry bulk commodities (e.g., coal, iron ore, bauxite, copper concentrate, lithium, etc.).
- Review sales and purchase contracts post-trade to verify timing, commodity brand, and payment terms.
- Coordinate vessel nominations, including load and discharge port agent details, and stowage plans with relevant parties.
- Draft and liaise with banks for the issuance of Letters of Credit (LCs).
- Work with customers to open LCs, verify bank credibility, address discrepancies, and ensure timely issuance.
- Validate LC details and confirm compliance with contract terms.
- Prepare and ensure shipping documents align with LC requirements; liaise directly with banks for LC negotiations.
- Provide regular updates to buyers and sellers regarding vessel movements.
- Verify and prepare invoices and relevant documents from suppliers or for buyers to ensure compliance with agreements.
- Create letters of indemnity when required.
- Calculate laytime (demurrage and dispatch) for buyers (discharge laytime) and sellers, and address related issues.
- Track cashflow for receivables and payables, ensuring month-end transactions are completed on schedule.
- Update systems to ensure sufficient cash flow for processing payments.
- Use Excel tools to monitor shipment status.
- Record details of loaded shipments, including quality, quantity, bill of lading, and shipping documents, verifying them against buyer’s LC or shipping instructions.
- Track and manage demurrage and/or dispatch payments or receivables.
- Collaborate with team members to provide support and maintain operational coverage.
Risk Management & Compliance:
- Advise and support Front Office in contract reviews, revisions, and recommendations to minimize risk exposure.
- Ensure credit limits are monitored and not exceeded.
- Identify transactional, financial risks, and variances, addressing and mitigating them as necessary.
- Collaborate with teams to ensure transactions adhere to internal policies and escalate issues when required.
- Partner with various departments to develop amicable solutions for complex situations.
Compliance:
- Safeguard the confidentiality and privacy of information, protect organizational assets, report non-compliance, and adhere to all applicable laws and regulations.
- Follow internal control and compliance procedures rigorously.
- Work with the Compliance team to review, update, and enhance internal control processes as needed.
Others:
- Perform additional duties related to Trade Operations, such as system testing, as assigned by the supervisor.
Requirements:
- Diploma in business or related field.
- A minimum of 5 years of experience in dry-bulk commodities, preferably metals.
- Strong expertise in Letters of Credit (LC) and UCP600.
- Familiarity with bulk shipping, laycan terms, and demurrage, particularly for FOB-CFR shipments.
- Solid understanding of contractual commercial terms, including associated risks and obligations.
- Knowledge of international metals trade procedures (e.g., B/Cs, B/Ls, LC negotiation, security trade control, internal controls) is advantageous.
- Proficient in understanding commodities markets and associated functions.
- Awareness of insurance, AEO, import duties, VAT, and compliance regulations.
- Skilled in SAP financial modules and commodities trading systems.
- Advanced proficiency in Microsoft Office tools such as Excel, PowerPoint, and Word.
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