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Fri 17 Jun 2011, 13:56 GMT

ARA supplier to lower payment terms


Bunker supplier to reduce its payment terms to 21 days from next month.

North Sea Group has announced that it will be changing its payment terms for its customers from next month.

Effective July 1st all bunker sales arranged with clients from its offices in Dordrecht, Netherlands, and Monaco will be carried out with payment terms of 21 days, instead of the current 30-day arrangement.

In a statement issued today the company said the new policy had been adopted "due to the current challenges in the shipping market".

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