In-Person: Trading and Shipping Working Together
PROGRAMME:
DAY 1
CONTRACTS:
•
The commercial contract: where is shipping involved?
•
What is a contract and why do we need one?
•
Key Clauses and their value
•
Incoterms
•
Disputes and Resolutions
•
Brokers and Traders
Practical Exercises:
Checking deals and
contracts
Understand the value
of tolerance
Force Majeure
OPERATIONAL ISSUES:
•
Notices: What is a NOR? Are there other notices?
•
Berthing and lightering: Who is responsible for getting to the berth?
• Inspection and
measurement: Where is oil measured? Where do losses occur?
DAY 2
CALCULATING FREIGHT COSTS:
•
Lump sum voyages: What is the real cost of freight?
•
World Scale and shipping rates
•
AFRA rates and freight risk
•
Shipping and trading
Practical Exercises:
Calculating shipping
costs
Using the World Scale
and
Calculating rate and
freight invoices
Choosing a ship
RISK IN SHIPPING:
•
Financial risk and price risk: What are they?
•
Hedging bunkers: Should we? Can we?
•
Hedging freight costs: Freight Forward Agreements
MANAGING PRICE RISK:
•
Understanding Exposure
•
Examination of gasoil and fuel oil pricing: ICE and the Platts Window
•
SWAPS: hedging, futures, swaps, and differential swaps
•
Managing bunker prices
•
Moving oil from A to B
Practical Exercises:
Long, Short or Flat:
understanding price risk
Understanding Risk:
when does price risk occur?
Simple hedging with
swaps and futures
Price discovery for
bunkers: MDO and HSFO
DAY 3 - Visits
THE PORT OF ROTTERDAM
The Harbour Coordination Centre – arrivals and departures of vessel
Highlights from Ronald Backers, Business Intelligence Liquid Bulk, Port of Rotterdam on the main developments in Rotterdam and potential impact of the 2020 for the Port followed by visit to the Harbour Coordination Centre.
VOPAK TERMINAL EUROPOORT BV
Ready for IMO 2020
See how the world’s leading independent tank storage Royal Vopak investing to make its terminals suitable for low-sulphur fuel and will be fully ready to support new market requirements.
DAY 4
DOCUMENTATION
•
Tanker Bills of lading: explanation and practical approach
•
Governing conventions
•
Letters of indemnity
•
Delivery without bill of lading
•
Changing bills of lading
•
A time charter ship
•
INCOTERMS 2000 v 2010
WHO IS WHO IN SHIPPING?
•
The parties involved: Charterer – Broker – Owner
•
Remuneration
•
Choice of vessel (exercise)
•
Typical example for a spot vessel
•
Check list for charterer and owner
•
Typical Recap
CHARTERING – STEP BY STEP
•
How to make a charter – 10 steps
•
Shipping negotiations
•
Timing of chartering in the trade deals
•
Making chartering decisions
DAY 5
LAYTIME AND DEMURRAGE:
•
What is laytime and why does it matter?
•
Why is demurrage a major risk for trading?
•
Managing demurrage risk
•
Demurrage and laytime in the commercial contract and the charter-party
• Worked calculations and examples for / from
delegates
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