About
Global supply. Qualified demand. Commercial execution.
- Function
- Sourcing & commercial partnerships
- Products
- Refined products, fuel oil & crude
- Counterparties
- Institutional & commercial
- Basis
- Written requirement, executed contract
Mandate
What we do, stated plainly.
Buyers of bulk fuel face a market with very poor signal. Offers circulate widely, most cannot be substantiated, and the cost of establishing which counterparties are real is carried entirely by the buyer.
Our function is to reduce that cost. We work from the buyer's written requirement, assess it against supply relationships that could realistically serve it, and qualify both sides before commercial terms are exchanged. Where a requirement cannot be credibly served, we say so at review rather than keeping a conversation open.
We are not a refinery, producer or terminal operator, and we do not represent ownership of physical product except as set out in a signed contract. What we offer is commercial structure: qualification, terms, documentation and execution discipline applied consistently to both sides of a transaction.
What Mittrex is
- A commercial sourcing and partnerships company
- A counterparty that works from written requirements
- An intermediary between qualified supply and qualified demand
What Mittrex is not
- A refinery, producer or terminal operator
- A holder of physical product outside contract
- A source of unsolicited allocation offers
Operating Principles
Four principles, applied without exception.
- I
Commercial Discipline
We work from written requirements and verifiable parameters. Where a requirement cannot be credibly served, we say so rather than keeping a conversation open.
- II
Counterparty Quality
Both sides of a transaction are qualified before terms are exchanged. The standard applies equally to buyers and to the supply relationships we work with.
- III
Confidentiality
Requirements, specifications and commercial terms are treated as confidential. Information is shared only with parties directly involved in the transaction.
- IV
Long-Term Relationships
We are structured around repeat commercial relationships rather than one-off intermediation. Consistency of conduct is the basis on which those relationships hold.
Commercial Process
A defined sequence, followed in order.
- 01
Buyer Requirement
Product, specification, quantity, destination, delivery structure and timeline are established in writing.
- Product and grade confirmed against destination-market standards
- Volume defined as spot cargo or recurring monthly requirement
- Discharge port, terminal or airport identified
- Incoterm and delivery window agreed as the basis for discussion
- 02
Supply Review
The requirement is reviewed against supply relationships that can realistically serve it.
- Assessment of whether the specification can be met from available supply
- Route, logistics and delivery feasibility considered
- Requirements that cannot be credibly served are declined at this stage
- 03
Counterparty Qualification
Both sides are qualified before commercial terms are exchanged.
- Corporate documentation and standing reviewed
- Authority of signatories and points of contact confirmed
- Financial capability and banking channel established
- Confidentiality arrangements put in place where appropriate
- 04
Commercial Terms
Pricing basis, payment structure, inspection and documentation are agreed and documented.
- Pricing mechanism and reference basis defined
- Payment instrument and banking sequence agreed
- Independent inspection scope and appointment confirmed
- Full document set specified before contract
- 05
Execution
Contract is executed and the movement is coordinated through to delivery.
- Contract signed by authorised representatives of both parties
- Nomination, scheduling and logistics coordinated
- Inspection carried out at load and discharge
- Documentation released against the agreed payment sequence
Counterparty Standards
Serious Transactions Require Serious Counterparties.
We do not circulate unsolicited offers, and we do not ask counterparties to act on documentation that has not been verified. Where a party will not complete this workflow, we close the file.
- A
Product Specifications
Grade, quality standard and destination-market compliance defined in writing before any commercial discussion.
- B
Counterparty Verification
Identity, standing and signing authority of each party reviewed before terms are exchanged.
- C
Corporate Documentation
Company registration, authorised representatives and banking references collected and reviewed.
- D
Commercial Terms
Pricing basis, quantity tolerance, delivery structure and obligations documented and agreed.
- E
Logistics Review
Load and discharge feasibility, vessel or transport suitability and terminal acceptance assessed.
- F
Payment Structure
Instrument, banking channel and document-release sequence agreed by both parties in advance.
- G
Contract Execution
Executed contract governs the transaction. Delivery, inspection and documentation follow its terms.
Start with a written requirement.
We respond to specific enquiries. Product, specification, quantity, destination and delivery window are enough to begin.