Bunkers and Lubricants at Ship Delivery

A ship-delivery bunker account can contain correct multiplication and still show the wrong amount payable. The quantity may relate to an earlier survey, the price may use a different unit, or the lubricant list may include oil already circulating in machinery. Before closing, each line needs a traceable connection between the stock being taken over, its quantity at the agreed time and the contractual price basis.

ROB means remaining on board. This guide helps buyers organise a delivery ROB reconciliation for the vessel’s fuel and unused lubricant inventory. For the wider transaction sequence, see our ship sale and purchase process guide.

1. Establish which stock is payable under the signed MOA

Start with the executed Memorandum of Agreement (MOA), its selected alternatives and amendments. Record the stock covered, valuation method, currency, excluded charges and payment arrangements before comparing figures.

For one specific reference, the unamended BIMCO SHIPSALE 22 sample separates these consumables from the vessel purchase price. Its definitions distinguish bunkers from unused lubricating, hydraulic and thermal oils and greases held in designated storage tanks or unopened containers. Clause 13 calls for a joint quantity survey and offers separate price selections for bunkers and oils/greases. The alternatives use evidenced net purchase prices or delivery-place/date market prices, with specified delivery-cost exclusions. Those provisions are an example, not the terms of every sale: check the actual agreement and riders.

Make a scope list against that agreement. Identify each fuel grade and each lubricant product, its tank or container location, whether it is unused, and whether its inclusion is agreed. Keep circulating system oil, opened containers and unidentified stock separately flagged for clarification rather than adding them automatically to the payable inventory.

2. Reconcile measured stock to the delivery time

A supplier’s bunker delivery note records a supply event; it does not establish what remains on board at a later vessel sale. Request the survey record and supporting inventory, with the vessel identity, locations measured, date, time and time zone. Have the responsible surveyor explain the quantity basis and any measurement limitations.

For tank measurements, ask for the relevant tank-table references, readings and the temperature, density and vessel-condition corrections used where applicable. Keep the calculation sheets with the summary. A volume in litres or cubic metres cannot be compared directly with a mass in metric tonnes; any conversion needs a documented, compatible basis. This is a document check, not a substitute for the surveyor’s measurement work.

If the survey precedes delivery, prepare a bridge from the measured quantity to the handover time. Record subsequent receipts, consumption and removals with their evidence. Internal tank transfers change location, not the vessel-wide total, so avoid counting them as fresh receipts. Reconcile each product separately and revise the bridge if closing moves. A forecast consumption allowance should remain labelled as an estimate until the parties establish the delivery figure under their agreed arrangements.

For packaged lubricants, record product name, grade, package count and marked quantity per package. Verify the stock against the agreed contractual definition and inspection record. A shared viscosity designation alone does not establish that two products are interchangeable or identically priced.

3. Match each price to the stock and unit

Keep quantity agreement and price agreement in separate columns. An accepted survey total does not resolve a disputed price, and an invoice price does not prove the remaining quantity.

• Invoice-based valuation: identify the invoice or other permitted evidence and the net unit price applicable under the contract. If several purchases supplied a tank, record the allocation method agreed for the remaining stock; do not silently assume FIFO or a weighted average.
• Market-based valuation: record the agreed grade, location, date and source, together with the relevant unit and exclusions. An unrelated port quotation or a general fuel index needs reconciliation to the agreed basis.
• Fixed agreed prices: reference the signed provision or documented agreement. Preserve the distinction between a price used for preliminary budgeting and one agreed for settlement.
• Currency and units: reconcile any conversion explicitly. A price per litre must not be multiplied by a quantity in tonnes. Record applicable tax and charge treatment separately rather than assuming it from a headline quotation.

If a price remains unsupported, show the missing evidence and responsible person. A convenient estimate should not become a final agreed line merely because it makes the spreadsheet total.

4. Worked example: a survey total is not the delivery total

Fictional illustration only. Assume the parties have agreed the eligible stock, the quantity bridge and the fixed unit prices below. All receipts, consumption and removals in this example are supported by records. Survey and delivery occur on the same date at 08:00 and 14:00 UTC respectively. The prices are invented for arithmetic, not market quotations or standard contractual terms.

The agreed example subtotal is USD 100,860. Pricing the 08:00 survey quantities without the consumption adjustment would produce USD 101,400, a USD 540 difference. That difference comes from timing, not a change in unit prices.

Now suppose the seller’s separate inventory also lists one opened lubricant drum as containing 150 litres. In this example its inclusion and measured quantity have not been agreed. Record it as an open item with no agreed settlement value; do not add USD 450 to the agreed subtotal or declare it contractually excluded without checking the terms. Any arrangement for an unresolved item at closing requires the parties’ agreement and appropriate contractual advice.

5. Keep differences visible through the closing account

Use one reconciliation register with a revision number. For every stock line retain: product and location; contractual scope reference; survey quantity and unit; survey time; supported movements; delivery quantity; price basis and evidence; currency; calculated amount; and agreement status. Add an owner and response date for each open question.

Classify differences before trying to resolve them. A quantity difference needs survey or movement evidence; a product mismatch needs identification records; a price difference needs the contractual valuation basis. An unsupported tax or delivery charge belongs in a separate question rather than being hidden in the unit rate.

Carry the agreed figures into the closing account and relevant invoices, retaining the link back to the signed quantity records and the handover time. Keep unresolved amounts clearly distinct. Recording a reservation or a disputed subtotal does not itself create a right to deduct, withhold payment or delay delivery; the closing team must check the agreement. Our ship purchase payment guide covers the broader payment structure.

Preparing to take over a vessel? Bring the stock list, survey timing and contractual valuation provisions to the reconciliation early. Golden Shipyard’s sale and purchase team can help coordinate the documentary questions with the parties and their advisers. See current vessels for sale for your acquisition search.