Commodity trading

Selling as principal

ANF sells petroleum, refined products and gas under contracts concluded in its own name. Allocation and the authority to sell are held by ANF directly, and the product documentation — the independent inspection certificate and the full proof of product set — is issued in ANF’s name.

ANF holds the licences required for the sale and export of the products it offers. Particulars are provided to counterparties on request as part of the standard pack.

Our team manages every stage: allocation and scheduling, contract negotiation, documentation, independent inspection, logistics and vessel coordination, payment instruments, and settlement.

A buyer contracts with ANF and looks to ANF for performance. There is no chain of intermediaries between the buyer and the party answerable for the cargo, and no requirement to verify a counterparty it has never met.

Carrying the risk

Selling as principal means carrying price, performance, credit and operational risk ourselves, and we manage each of them explicitly.

Price. Controlled through matched pricing periods and, where appropriate, derivative hedging.

Credit. Assessed before contracting and supported by documentary credits, standby instruments, prepayment or credit insurance according to the risk.

Cargo. Covered by marine and cargo insurance. Quantity and quality are established by independent inspection at load and discharge.

Vessel and origin. Screened before fixture.