Tanker Chartering and Operations the Life of a Voyage
INTRODUCTION
This programme designed for chartering and
operations staff who need to understand the fundamentals of the tanker
market. It will also suit those who feel that they would benefit from a
more structured knowledge of the elements of chartering and
post-fixture tanker operations.
Personnel from ship
brokers, port agencies, inspectors, banks and similar service
organisations can gain a valuable understanding of their customers’
roles and responsibilities.
PROGRAMME:
The vessel and the contract
- Structure, main dimensions and types of tankers
- History of tanker and market development
- Types of charter party (contract)
- Owners and charterers responsibilities
Market structure and process
- Elements of freight costs
- Understanding and using Worldscale
- Delegate Exercises
- Researching the market
- The broker network
- Quoting vessels and cargoes
Negotiations and fixtures
- Analysing the voyage contract
- Delegate Exercises
- Shipping negotiations
- Making chartering decisions
- Voyage estimating
- Offers and counter-offers
- Charter Party clauses
- Fixture recap
- Subjects and nomination
Alternative forms of contract
Contract of Affreightment
- Structure
- Responsibilities (nominations, laycans, last cargoes, etc)
- Pros and Cons
Start and review of last exercise
Managing Financial Risk
- Effects of changing supply and demand patterns
- Risk management facilities
Voyage operations before loading
- Analysing the recap
- Pre-fixture operations
- Late arrival issues
Voyage operations at loadport
- Operations activities
- Quantity and quality
- Delays and protests
- Sailing Orders
- Delegate exercise
Voyage operations at sea
- Operations activities
- Deviation, Detention and Draft restrictions
- Delegate exercises
- Discharge orders
- Letters of Indemnity
Voyage operations at discharge
- Operations activities
- Delays and other issues
- Delegate Exercise
Voyage operations after discharge
- Operations activities
- Freight and deadfreight
- Other claims
- Calculating demurrage (group exercise)
Comparison of different tanker charter parties
- NOR and Laytime
- Key differences across charter parties
Vessel characteristics and restrictions:
- Capacity and draft (loadlines, salinity, tides, clearances etc)
- Dimensions (length, beam, manifolds, LBP, PBL etc)
- Tanks and lines (coatings, heating, inerting, segregations etc)
Port characteristics and requirements:
- Physical (port facilities, mooring arrangements, berth restrictions etc)
- Administrative (clearing, financial, legislative etc)
Pre-loading administration
- Recaps - reading between the lines (exercise)
- Voyage documentation (cargo, customs, Marpol etc)
- Progress monitoring (itineraries and schedules)
Loading Operations and activities:
- Arrival and NOR
- Berthing
- Cargo handling
Inspection, Documentation, Sailing instructions
Laden passage operations:
- Reporting and informing
- Voyage monitoring
- Routing issues and limitations (weather, tracking, SECA etc)
- Deviation and detention 1. Changing Bills of Lading
- Canals and passages
- Obstacles and interruptions
- Onward and discharge orders
- Bills of Lading – Letters of Indemnity
Discharge operations:
- Arrival and NOR
- Berthing and shifting
- Cargo operations
- Crude Oil Washing
- Cargo losses
Post-discharge Operations:
- Time bars and claims
- Port disbursements
- Worldscale charges
- Revalidated Bills of Lading
- Cancelling LOI’s
- Dispute handling
- Voyage analysis
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