Key Benefits for Buyers
Buyers send their financial information directly to US Bank for review and underwriting. While you will work closely with Voyager personnel on operational issues, only qualified US Bank personnel see or handle client financial information. US Bank is bound by very strict US banking confidentiality rules and regulations, so buyers can be assured of the confidentiality of their financial information. If you use Voyager, you never have to send your financial information to your bunker suppliers so your negotiating position is never compromised.
We have performed a cost savings analysis for a number of buyers and while the saving per metric tonne obviously varies according to the individual circumstances of each buyer, the cost savings of using Voyager has been calculated at as high as $5.50 per metric tonne. A saving in the range of $3.00 to $4.00 per metric tonne is most common.
Fluctuating ship operating costs, volatile bunker prices and falling freight rates are squeezing profit margins. In addition, a general lack of credit availability and ever shortening credit terms are compounding this difficult operating environment. Voyager brings certainty by providing a line of credit for each buyer and guaranteeing qualified bunker buyers an average of 36 days credit for bunker transactions.
Providing extended credit terms enhances liquidity, improves profitability and frees-up cash for business development.
Regularly testing fuel and insuring against the consequences of loading bad fuel are among the costs of doing business. All Voyager stems are quality tested, free-of-charge, by LR FOBAS to minimize the chance of bad fuel being delivered to your ships. LR FOBAS performs random bunker quantity surveys on Voyager stems. Access to historical fuel test data maintained on the Voyager system allows you to select the best fuel supplier based on past performance.
The administrative overhead generated by numerous fuel transactions conducted across the globe is minimised by Voyager’s consolidated billing and streamlined invoicing process. For all global transactions within each calendar month buyers receive just one bill and make one payment on the 21st of the following month. This report can be tailored to your own requirements and broken-down by ship type, fleet or other criteria.
Depending on circumstances, buyers can have either a secured or an unsecured relationship with US Bank to support a line of credit to use the Voyager system and gain its benefits.
US Bank will accept Letters of Credit from a recognized bank to support a line with Voyager. This enables a buyer to buy from any supplier using Voyager rather than have a letter of credit restricted to a particular supplier, increasing the utilisation of the buyers’ credit facilities.
