Good Question. I have always assumed it is FOB destination. (exact opposite to your suggestion).
1) Altagas is the operator of the port and has control of scheduling deliveries into and out of the terminal.
2)Tankers generally have more than one destination making it difficult for a buyer to add a small shipment to a large vessel.
3)I must admit … in the industry I worked in (electronics) it was always FOB destination.
Adding to this though…….in the industry I worked in…. if the merchandise left the shipper’s dock, it was included as delivered in the quarter’s numbers. Further , I recall Randy Crawford saying that there was a tanker ½ filled at month’s end so that ½ shipment was included in our quarter’s number. (Any one else remember this?)
Long answer ….. but I must say…. Not 100% sure.
p.s. I provided an estimate of the shipping charge from Ripet to Asia as 3.29 usd/bbl in an earlier thread.
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RFguy, any idea who arranges and who pays for the tankers to ship LPG?
Thinking if the buyer of LPG is arranging and paying, Altagas would recognise revenue when tanker is loaded. If it is Altagas, revenue recognise revenue when off loaded at destination.
I am thinking it is the buyer but would appreciate your input.
rfguysd wrote: GunnerG: Interesting. MY thought. Altagas has excess propane to be shipped
"UNHEDGED" at $542usd/tonne. This is $43 usd/ bbl. ! This might be equivalent to shipping a full load in the VLGC hedged in terms of net earnings. Clever.
This will definitely add to the bottom line for the 1st qtr.
GLTA
RFguy.
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GunnerG - (3/18/2021 12:08:44 PM) RE:RIPET Thanks rfguysd, great information. Great facts, no speculation.
Another tanker on its way to Ripet, the Pertusola. ATA is March 29th to Prince Rupert anchorage. It is passing through the Panama Canal recently.
I was surprised at the size, it is only 1/4 the size of those that usually arrive at Ripet (12,800 GT).
Should be a quick turn around for 1/4 tanker.