Bunker trader

Originally Posted by Unregistered

no sh*t. must borrow 500k to make 7% for 3 years then still must fork out money to hire an auditor all the way.

are us serious or making sh*t up as you go along? u trying to get a simple youngster w/o exp who just wants to find a good paying job into trouble har?

I can craft a realistic and successful story of someone, through hard work and perseverance, reached the apex of the investment industry where in his journey did, through very legitimated means, what I mentioned. But to not waste any one's time, I wouldn't.

Originally Posted by Unregistered

I can craft a realistic and successful story of someone, through hard work and perseverance, reached the apex of the investment industry where in his journey did, through very legitimated means, what I mentioned. But to not waste any one's time, I wouldn't.

if u dunno anything abt bunker trades then just f off. nobody is interested in how good u r at crafting stories.

Originally Posted by Unregistered

if u dunno anything abt bunker trades then just f off. nobody is interested in how good u r at crafting stories.

Actually I'm ok. But need to go by something ma. So I read other forums, read successful people wiki, then try to mimic them. They do A get B so I try to do A then hope to B. Sometimes succeed but if cannot then LL.

Sinkies here really hopeless. Ask them take a bit of risk also scared. If you don't borrow big and prove you can win big, nothing will happen. Safe track is guarantee for no achievement.

Haha in the end nobody bother to answer the question or help the ts. All more interested in acting like insider by posting bs story. This forum is only useful for asking normal jobs like civil service, stat board, GLC, starting pay for grads and some blue collar position. Anything more than that end up with nothing but rubbish.

[aplover]

this forum is really funny at times when i see Unregistered people talking to Unregistered people and trying to think of how many actual people are talking to each other.

I'm not so sure about bunker trading, not sure how different it is from the standard oil and products trading. Should have some similarities. But i see for bunker trading there are more ah der ah kow companies doing it. I guess it's abit more cow boy land? Also salaries don't look great for base pay, again this is based on what i see on job websites. So those numbers may not be real but i think my friends in oil trading get more.

With the decline in the oil markets and forcing of banks to shut down oil trading desks, there's more supply of oil traders in the market. Some of these oil traders have been forced to do bunkering, i would think so overall there's a depression of salaries especially in the current market when prices are weak.

Originally Posted by aplover

this forum is really funny at times when i see Unregistered people talking to Unregistered people and trying to think of how many actual people are talking to each other.

I'm not so sure about bunker trading, not sure how different it is from the standard oil and products trading. Should have some similarities. But i see for bunker trading there are more ah der ah kow companies doing it. I guess it's abit more cow boy land? Also salaries don't look great for base pay, again this is based on what i see on job websites. So those numbers may not be real but i think my friends in oil trading get more.

With the decline in the oil markets and forcing of banks to shut down oil trading desks, there's more supply of oil traders in the market. Some of these oil traders have been forced to do bunkering, i would think so overall there's a depression of salaries especially in the current market when prices are weak.

So in short your info on bunker trading is from reading online and oil trading is from your “friends”?.

Is there anyone here who really has experience doing actual bunker trading can comment???

Would really appreciate some insights. As for those who are not in the industry and have opinions they hear from others, thank you for the contribution, but some of us here really need more accurate insider insights instead of generic comments.

Originally Posted by Unregistered

So in short your info on bunker trading is from reading online and oil trading is from your “friends”?.

Is there anyone here who really has experience doing actual bunker trading can comment???

Would really appreciate some insights. As for those who are not in the industry and have opinions they hear from others, thank you for the contribution, but some of us here really need more accurate insider insights instead of generic comments.

At least he contributed relevant information.

"bunker trading there are more ah der ah kow companies doing it" - he might see from reputable sources.
"salaries don't look great for base pay" - this is the only part where he mentioned websites.
"i think my friends in oil trading get more" - why you assume they are not his real friends? And I think he mentioning oil trading can serve as a gauge on how much bunker trader makes, which is relevant.

I know we're all looking for insights. But I think this poster make a decent contribution to the discussion.

Originally Posted by Unregistered

So in short your info on bunker trading is from reading online and oil trading is from your “friends”?.

Is there anyone here who really has experience doing actual bunker trading can comment???

Would really appreciate some insights. As for those who are not in the industry and have opinions they hear from others, thank you for the contribution, but some of us here really need more accurate insider insights instead of generic comments.

I'll create some good karma for myself by sharing. My husband was a bunker trader for about close to 2 years and recently left the industry. He shares with me what goes on at work daily so I have a very good idea what the job entails. In short, it's a very bad time to join the industry now. I'll list the points down:

1. Shipping industry is doing badly so the requirement for bunker (marine fuel) has also dropped in correlation.
2. With the implementation of the mass flow meter, suppliers aren't able to quote low prices by short changing the ships anymore. The margin has dropped by a lot.
3. It's a very competitive industry with many small and medium bunker trading companies fighting for the same pie. I quote an example, for a trade of about USD 50k for a small vessel the profit margin is only about USD1-2k. Even if u get a 10% cut out of the 1-2k it's only usd 100-200. They expect u to make profits enough to cover your base pay before u get any bonus sharing. Only the few big boys are able to trade with the big shipping companies as they have huge volumes and thus are able to negotiate for much better prices with suppliers compared to the small and medium fry bunker trading companies.
4. Within the trading companies competition between traders is very stiff. For the past 1 year after the fall of OW bunkers ( u can google for yourself to find out what happened) , the traders from OW flooded the markets and they join existing bunker creating a very very negative infighting environment. They fight for the same customers with each other.
5. My husband has been getting quite a few calls from recruiters asking if he's keen to join etc bunker trading companies but no thanks. He has found a much better industry where the environment is healthier and more stable. Recruiters told him a lot of bunker traders have exited the industry and they can't find experienced ppl to join. It must be bad enough for the experienced ones to switch.
6. Basic pay if u look around in indeed.sg or jobstreet, could be anyway from 2.5k to 3+k. Not going to reveal my husband's pay here. A lot of the companies want u to have existing customers before they hire u, they don't have time to wait for u to build up your customer base or learn from scratch, they basically want to see the $$ now so fresh grads have almost naught chance of entering.
7. If you don't hit your target u will be asked to go, they only give u 6 months to perform, after that u can FO if they don't see the $$$. Happened to my husband's colleagues. Heard the common target is $20k profit, not revenue mind you.

Anymore questions feel free to ask me. I'm so happy my husband left this industry.

I'm a Bunker trader and yes. it is very competitive amongst traders

It's a game of poker. trying to outsmart your competitors. getting support from physical suppliers.

What those guys mentioned earlier on is Oil Trading/cargo

Bunker trading is basically a sales job. Nothing glamorous.

If you are good pay would be quite substantial. Im doing 20k within a few months of joining

The industry. And i had no connection. Just keep applying. if you are not a people's person. forget about this job. U need excellent relationship with both clients n suppliers