Demurrage Negotiator

Location
- Malaysia - Kuala Lumpur
- Travel required
- No travel is expected with this role
- Job category
- Supply & Trading
- Relocation available
- This role is not eligible for relocation
- Job type
- Professionals
- Job code
- RQ063145
- Experience level
- Intermediate

Job summary

**Entity**:
Finance
**Job Family Group**:
Supply & Trading Group
**Job Summary**:
The Demurrage Team provide an outstanding service to Trading & Shipping for handling demurrage and shipping related ancillary charges. We are experts for vessels and barges in the calculation and payment of freight, calculation and negotiation of demurrage claims, calculation, and negotiation of related shipping costs such as deviation, detention, port costs etc., and the interpretation of the contract clauses to minimize exposure to claims wherever possible.The Demurrage Negotiator is responsible for managing a portfolio of demurrage claims and post fixture expenses. This involves payment of freight and handling demurrage and expense claims resulting from contracts with owners, oil majors and trading companies. Working in close co-operation with the Trading & Shipping community to provide analytical information and guidance to the trading benches, to reduce the risk of demurrage exposure and optimize demurrage prevention to ultimately improve trading profits.

Key responsibilities:

- Manages a portfolio of barge/vessel claims in a detailed way to ensure time bars are not missed, meaningful responses are provided to counterparties, rigors negotiation is undertaken, and claims are closed in a timely manner.
- Calculation, preparation, verification of freight, contract shipping expenses and demurrage claims/invoices in accordance with oil trading contracts, general terms, and conditions and charterparty terms.
- Ensuring strict adherence to various contractual/charterparty time bar clauses, minimizing BP’s commercial loss.
- Responsible for demurrage, freight, and expenses on behalf of selected BP group companies.
- Investigation and collation of the facts and data gathered from Traders, Operators, Charterers, Legal and Tax Advisors to fully assess each individual demurrage claim.
- Creating and maintaining relationships with 3rd parties including trading companies, barge owner’s and brokers.
- Leverage these relationships to aid BP group and demurrage negotiation.
- Hold commercial relationships and manage complex negotiations with external counterparties to improve value recovery and advance bp’s interests.
- Appropriately assigned costs to relevant benches to ensure accurate profits and losses are reflected, collaborating with Settlement and Commodity Risk teams to ensure this is done in a correct and timely manner.
- Provide detailed analytical assessments on a regular basis of outstanding claims/costs to trading benches and commodity risk.
- Identify improvement opportunities, provide feedback, and work with traders, operators, and contracts team to optimize efficiency, improve contractual terms and create demurrage prevention.
- Review ways of working to drive process optimization and a focus on delivering value.
- Provide commercial assistance to the oil and ship operators, oil traders and ship charterers. Ensure lines of communication with key collaborators are maintained and applied as required.
- Provide training and develop awareness of Demurrage activity and value to the team and across the Refining & Products Trading business.
- Ensure compliance with all BP policies and procedures including Shipping policy and credit requirements.
- Work collaboratively across the Demurrage team to support team delivery.
- Ensure systems data is updated accurately and supervise data flows - flagging where concerns are raised.

Job Requirements:

- You should be able to demonstrate or have a consistent track record encompassing the following key foundation skills.
- Relevant university (economy or finance) degree
- Minimum of 1-2 years of experience in finance or trading, or shipping.
- Global/ multi-national company work experience is an advantage.
- Knowledge about the trading or shipping industry, physical oil environment.
- Strong commercial instinct - a focus on delivering integrated value for BP.

**Travel Requirement**

No travel is expected with this role
**Relocation Assistance**:
This role is not eligible for relocation
**Remote Type**:
This position is a hybrid of office/remote working
**Skills**:
**Legal Disclaimer**:
If you are selected for a position and depending upon your role, your employment may be contingent upon adherence to local policy. This may include pre-placement drug screening, medical review of physical fitness for the role, and background checks.