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Demurrage Negotiator

Demurrage Negotiator

  • Location United States - Illinois - Chicago
  • Travel required Negligible travel
  • Job category Supply & Trading Group
  • Relocation available Negotiable
  • Job type Professionals
  • Job code 137165BR
  • Experience level Intermediate
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Job summary

The Demurrage team evaluates and negotiates demurrage claims with 3rd parties in line with oil and shipping contracts to ensure the efficient commercial outcome for BP. These claims are associated with voyages from a wide range of geographies. The team also handles demurrage on behalf of BP’s Customers & Products (C&P) team. The Demurrage Negotiator is responsible for managing a portfolio of demurrage claims on behalf of one or more trading benches. This involves analyzing, negotiation, invoicing, and payment handling of demurrage claims resulting from contracts with owners, oil majors and trading companies. Working in close co-operation with the trading community to provide analytical information and guidance to the trading benches, in order to reduce the risk of demurrage exposure and optimize demurrage prevention to ultimately improve trading profits.

Key Accountabilities:

  • Managing your own portfolio of claims, both payable and receivable, on behalf of your trading benches.
  • Calculation, preparation, verification and negotiation of demurrage claims and invoices in accordance with oil trading contracts, general terms and conditions, charter party terms, while being aware of the legal environment and industry custom and practice.
  • Ensuring strict adherence to various contractual / charter party time bar clauses, minimizing BP’s commercial loss.
  • Investigation and collation of the facts and data gathered from Traders, Operators and Charterers, in order to fully assess each individual demurrage claim.
  • Negotiation of disputes with Group companies or Third parties using email, fax, telephone and periodic face to face negotiation.
  • Developing and maintaining strong, constructive and respectful relationships with 3rd parties including trading companies, ship owners and brokers.
  • Upon agreement, issuing and settlement of invoices through BP accounting systems. Assign costs to appropriate benches to ensure accurate profits and losses are reflected, collaborating with settlement analysts and commodity risk to ensure this is done in an accurate and timely manner.
  • Provide detailed analytical assessments on a regular basis of outstanding claims / costs/ exposure to trading benches and trade control.
  • Maintain open lines of communication and frequent interaction with the operators and traders to keep tabs on voyage specifics and emerging demurrage issues.
  • Work closely with traders, Trading Operators, Shipping Operators, Contracts Team, and Ship Charterers by offering advice and assistance to optimize efficiency and demurrage prevention.
  • Provide training and awareness to others in the business and beyond.
  • Use the Global Demurrage System as the documentation repository for claim negotiation status and substantiation.

Essential experience and job requirements

  • Desire and ability to work in a dynamic environment and build a constructive atmosphere of respect, partnership, high expectations, and continuous improvement.
  • Excellent communication skills, both written and oral.
  • Excellent negotiation skills, with the goal of achieving the fair settlement of what is only contractually owed by either party.
  • Ability to build and maintain constructive and respectful commercial relationships, both internally and externally.
  • Analytical approach.
  • Manage time and pressure well.

Desirable criteria and qualifications

  • Bachelor’s degree desirable.
  • Experience in an oil operations trading environment.
  • Experience with waterborne scheduling
  • Previous demurrage negotiation experience
  • Familiarity with common contractual general terms and conditions (GT&C’s) and marine provisions found in the petroleum trading and marine transportation industries
  • Familiarity with common sea and inland waterway Incoterms.
  • Ability to identify when the settlement of a claim requires escalation for trader involvement and a commercial resolution, due to lack of contractual clarity or intent.
  • The ability and desire to work with counterparties to streamline the negotiation process where possible.
  • Understand and fulfill all compliance obligations, the code of conduct, and adherence to the BP demurrage principles.

Why join us

At bp, we support our people to learn and grow in a diverse and challenging environment. We believe that our team is strengthened by diversity. We are committed to encouraging an inclusive environment in which everyone is respected and treated fairly.

There are many aspects of our employees’ lives that are meaningful, so we offer benefits to enable your work to fit with your life. These benefits can include flexible working options, a generous paid parental leave policy, and excellent retirement benefits, among others!

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