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Frequently Asked Questions

Q1.Can any body register to the site of the shipnagents.com or only certain companies?

If you are an oil trading company a ship Owner, ship Charterer, refiner,wholesaler etc or the owner of the trucking company, you can register on our site.

Q2.What are the charges for registration?

There are no charges for registering your company on this site. However. It will be necessary for us to have a complete credit check on a company to make sure that the company, which is registering on our site,would perform on its commitments. Normal to check is 48 hours. More time may be required in some cases.

Q3.How well our Company is protected?

Your company is fully protected as far as the security is concerned. We will make every effort to list only those companies, which have an excellent credible rating of performance. In addition,with the help of some Big Five accounting firms as well as some energy banks we will keep updated information of all those who register with us.

Q4.What kind of sign up fee we would be required to pay?

There is no sign up or registration fee. You will only pay a brokerage fee if you are a seller of the petroleum products, crude oil or a ship and trucking company owner. In some case particularly in paper trade or exchange of the petroleum products or crude oil, some fee may be required to be paid by the buyer.

Q5.What are the rates?

The rates or fee would vary for every company based upon the products that would be traded. The rates for the ship owners as well as the trucking Companies would be based upon the transaction carried out and would be advised after their registration process is complete

Q6.If we post an inquiry on the site, would the other parties who would be posting their requests to buy or sell products, charter ships or rent their Trucks be able to find out each others identity?

No one would be able to know who has posted the inquiry or requests. Everyone who will post an inquiry would have a fictitious name. Even when some one would request for a conference call, the identity of each party would remain unknown until the deals is finalized. Once the deal is finalized the Admin of shipnagents.com would notify all the parties via e-mail.

Q7.Would any be bale to cancel or edit the inquiry posted?

Yes, however, if some one has met the reserve price of the other party or the deal has been finalized. It cannot be cancelled. The Admin would be able to advise the parties if the reserve price has been met or not.

Q8.Can we retrieved the information of the all posted and cancelled inquiries and if so how?

Yes, Users can retrieve and post an update only those inquiries which are expired or no bid is posted against them as yet. Each section gives you the list of all inquiries both which are expired or under auction.From there you can post an update request.

Q9.Message Center: Would the other party know when we send a message for an inquiry or ask for a conference call about our identity?

No, until the deal is finalized or matured

Q10.What are the payment terms?

Payment or the commission would be due in 30 days to shipnagents.com after the deal is finalized. The payment terms between the buyer's and the seller's of the products, ship chartering, truck rentals would remain the resposibility of those parties trading with each other. Ship N Oil Corporation, providing the service of brokerage under shipnagents.com will send an invoice via the e-mail and receive the payment electronically.

Q11.What products can we Trade, Buy or Sell on this site?

One can trade the following products: Crude oils, Clean and refined petroleum products, Heavy fuels including asphalt, Bunker fuels, Lubes. In addition to the above one can charter ship, rent trucks and exchange petroleum products with in the states, countries and the regions if need be.

Q12.What are the advantages of using this site?

More access to the market, better prices and quick turn over. No missed phone calls, no more faxes. You can request for a conference call and conclude the deals in a very short time while dealing directly with the other party without disclosing the identities. One stop to trade various products. The ship Owners while chartering their ships, can buy bunker fuels and the lube oils for their ships. The oil trading companies can determine the market situation without waiting for some one to call them back.