The following email exchange is a typical one I have with Commodity Traders trying to enter the business.
ent: Sunday, August 26, 2012 8:37 PM
Once again, thank you for your blog. You just don't know how much you have helped me already.
My best regards,
Shipping payment terms are generally upfront - i.e. the moment the ship finishes loading. So if you as a trader are waiting for money to be received from the buyer after the ship discharges then this will not work (in terms of cashflow). You need money and / or access to credit. They also need to know that if something happens to the ship that they can sue you. If your company is worth usd 10,000 bucks then they won’t touch you..