Heavy fuel oil issues

A bunker broker member was contacted by an owner to order 900 M/T IFO180CST for delivery nine days later. At the time of ordering, the price of 180CST fuel was about USD 623 M/T. In error, the member ordered 900 M/T HFO380CST. The mistake came to light only when the bunkers were supplied to the owners. They rejected the bunkers. A stem of 180CST fuel was then arranged, but at a higher price of USD 672 M/T. There was no defence and ITIC paid the claim.

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