Oil Transfer on FOB, CIF & TTO Terms

The most common Incoterm in petroleum trading. The supplier delivers the product and loads it aboard the vessel nominated by the buyer at the agreed port of origin. All costs and risk transfer to the buyer once the product passes the ship's rail. New Horizon coordinates SGS inspection at loading, Q88 submission, and all origin-side documentation.

Under CIF terms, New Horizon coordinates the full shipping arrangement on behalf of the supplier — covering ocean freight, marine cargo insurance, and all documentation to the named destination port. Risk transfers to the buyer upon arrival at the discharge port. Ideal for buyers who prefer a delivered price without managing their own freight.

TTO involves the direct transfer of crude oil or refined products from a mother vessel to a daughter vessel at an offshore anchorage or designated STS (ship-to-ship) location. Common for very large crude carriers (VLCCs) that cannot enter shallow-draught ports. New Horizon coordinates STS master approvals, mooring arrangements, and independent quantity surveyors.

For landlocked destinations or pipeline-connected refineries, New Horizon facilitates custody transfer through metered pipeline systems. This requires coordination with pipeline operators, custody transfer meter technicians, and customs authorities at the border or terminal entry point.

Products stored in a bonded or commercial petroleum terminal can be transferred between storage tanks without physical movement of cargo. New Horizon coordinates custody transfer with the terminal operator, independent inspectors, and all relevant tank-to-tank documentation — enabling buyers to take title within the terminal.