Commodity Offer Red Flags: November 2026 Report
By the Vanguard Verify desk · Published 2026-11-02 · Updated 2026-11-02
Commodity Offer Red Flags: Monthly Report, November 2026. A monthly round-up of the warning signs that show up in unsolicited offers for sugar, diesel and jet fuel, edible oils, grain, cement, fertiliser and metals, with sources you can check yourself.
1. Storage spoofing: fake tank storage in Rotterdam
"Storage spoofing" is the term coined in Rotterdam for selling storage capacity and product stocks that do not exist. Fraudsters use websites that imitate well-known tank storage companies, plus fake e-mails and forged documents. According to the Port of Rotterdam Authority (6 February 2026):
- Traders lose at least €10 million a year, a lower bound based only on amounts actually paid.
- Deals with an offered value of €2.5 billion were reported to the task force in 2025.
- The task force blacklist holds more than 1,250 fraudulent domains.
- The task force (Port Authority, VOTOB, Ferm Seaports, Seaport Police, TCT The Commodity Traders) now works from storagespoofing.nl.
Check first: find the terminal's website yourself (not from the offer), compare the domain letter by letter, and confirm any tank storage receipt directly with the terminal. See how to verify a tank storage receipt.
2. Rules that do not exist
ICC has warned that references to "ICC Regulations 400/500/600", the "ICC Prove and Move Rules" and bogus "ICC" non-circumvention agreements are a possible sign of a scam. UCP 600 is the current letter of credit rulebook; UCP 700 has not been issued. The genuine ICC model non-circumvention agreement is ICC Publication No. 769. See do the ICC Prove and Move Rules exist?
3. The red flags we screen for
- Seller e-mail on free mail, or a domain that does not match the company's own website.
- Company not found in an official registry, or registry details that differ from the documents.
- Upfront fees for "procedures", "leased" SBLCs or "MT799 blocked funds". See MT799 blocked funds.
- Price well below the market for the product and Incoterm.
- Vessel IMO numbers that fail the check digit or do not match the named ship. See IMO number check.
- "Dip and pay" or tank-to-tank procedures with no verifiable terminal.
4. Our own data
Vanguard Verify's free Deal Check went live on 2 November 2026. From the December edition this section will show anonymised counts of red flags by type, product and country from offers checked with it. We never publish company or customer names.
Check an offer now
Paste an offer into the free Deal Check, or check a company (first check free).
Sources: Port of Rotterdam Authority, "Port of Rotterdam Authority and VOTOB take new step in combating tank storage spoofing", 6 Feb 2026; ICC, "Traders warned about non-existent ICC instruments quoted on Internet".
Type the company name. We show its public registry record (Global LEI Index), free.
Public registry data. By searching you accept our Terms.
FAQ
What is storage spoofing?
Selling tank storage capacity or product stocks that do not exist, usually through websites that copy real tank terminals. The Port of Rotterdam task force blacklist holds more than 1,250 such domains.
How do I check a tank storage offer is real?
Find the terminal's official contact details yourself and confirm the tank, product and quantity directly with the terminal before paying anything.
Does UCP 700 exist?
No. ICC states UCP 600 is the current version and UCP 700 has not been issued.
How can I check a commodity offer for free?
Paste it into the free Deal Check at verify.vtcgw.com/deal-check/ for an instant red-flag screen.
Vanguard Verify is run by Vanguard Trade Capital Goods Wholesalers DWC-LLC, Dubai South, Licence 14282. This answer is general information, not legal or financial advice.