Demurrage Claims Analyst – London
We are currently partnered with a major international oil and products trading group based in London who are looking for a Demurrage Claims Analyst to be based in their HQ. This is a new hire that will be responsible for the accurate and timely review, issuance, negotiations, and settlement of demurrage claims associated with the transportation of crude oil and chartering activity.
The analyst will interface with third parties, including owners, major oil companies, and trading companies ensuring proper management of demurrage claims. This role closely collaborates with trading and shipping operations, finance and accounting, as well as legal departments to ensure accurate information and guidance is being provided to the traders and charterers to reduce risk and exposure to the company and optimize trading profits.
- Manage assigned demurrage claims, properly auditing and conducting data analysis.
- Submit demurrage claims, review and counter claims with suppliers and receivers based on purchase & sale contracts.
- Negotiates demurrage claims with vessel owners based on charter parties’ conditions.
- Build and maintain professional relationships with internal and external clients.
- Actively communicates with counterparties to ensure timely collection of receivables. Report the status of demurrage negotiations to traders and management.
- Work closely with Finance / Accounting to ensure efficient processing of demurrage payables and proper billing of receivables.
- Monitor demurrage settlements as necessary and resolves account payable discrepancies.
- Communicate proactively with the shipping team to increase maritime and commercial awareness, and minimize exposure for the company.
- Thoroughly review contracts and advise traders when laytime and demurrage terms and conditions require realignment.
- Review third-party contracts and proposals to avoid potential commercial risk.
- Analyse demurrage trends to understand business updates and advises the trading group in ways to minimize future risk.
- Develop ad-hoc metrics in handling demurrage claims when needed.
- Report the overdue claims to team leader and forward the case to legal.
If you are interested in this role, please do get in touch with [email protected]