Major international petroleum and chemical corporation which operates as one of the largest global trading companies, specializing in crude oil, oil products, LNG, and logistics are looking to hire a Shipping Claims Executive to join their Singapore office.
Job Overview
This role is responsible for managing all demurrage-related accounts, both payable and receivable, including handling claims with shipowners and trading partners. The person in this position will oversee the entire claims process, from submitting claims to ensuring the agreed amounts are paid or received.
Key Responsibilities
- Submit receivable claims to counterparties promptly to avoid missing deadlines.
- Carefully review and calculate demurrage claims, ensuring accuracy by consulting relevant contracts (such as charterparty agreements or trading contracts including GTCs) and supporting documentation. Draft responses strategically to maximize receivables and minimize payments.
- Coordinate with operations, brokers, agents, and local contacts to gather all necessary information for claims. Seek legal guidance from the in-house legal team or PNI clubs to support claims as needed.
- Actively engage with counterparties to follow up on demurrage claims via email, phone, or meetings. Escalate issues to the trading or legal teams if there is no response within the required timeframe, following internal procedures.
- Ensure that agreed demurrage amounts are invoiced correctly and that payment or receipt of funds is processed according to the agreed value date.
- Maintain strong communication with external stakeholders (shipowners, trading partners, brokers, agents, PNI clubs) and internal teams (traders, charterers, cargo/shipping operations, legal, finance) throughout the claims process.
- Become proficient in the MAF Demurrage System to handle daily demurrage and claims tasks.
- Keep accurate records of all receivables and payables, conducting monthly reconciliations with the finance department.
- Assist in preparing monthly and yearly claims reports for management using the MAF Demurrage System.
- Experience handling demurrage and claims in the oil trading or shipping industries.
- Basic proficiency in reading and writing Mandarin is essential.
- Preferably 2-5 years of experience in demurrage claims. Open to candidates with a solid foundation in marine claims, even if their experience isn’t exclusively in demurrage, depending on their understanding of technicality of the claims.
- Strong knowledge of the tanker and clean petroleum products sectors.
- Familiarity with charterparty agreements (e.g., Asbatankvoy, BPVoy5, Shellvoy6), INCO terms, and trading contracts, including GTCs.
- Assertive with excellent negotiation skills.
- Ability to work under pressure and meet strict deadlines.
- Strong attention to detail and proficiency in numerical calculations for demurrage.
Jan Enevold (EA Reg no: R22106593)
Faststream Recruitment Pte Ltd, EA Licence no: 09C3403