Who is the shipper? Answer...........the African mine.
- African mine produces the minerals
- African mine has marketing agreement with large trading house eg Bunge which agrees to buy and sell all of the mines product on an exclusive basis
- Bunge sells the minerals CNF to Chinese Trading house (bunge organises the freight)
- Bunge is now the charterer and engages the services of a shipowner.
- Prior to ship arriving in China - Chinese trading house then sells the product to final user of the mineral (could be a steel company for example).