International Business House

International Business House is the trusted global provider of business intelligence through conferences and training to the world’s leading OIL & GAS businesses.

 


•  CLASSROOM TRAINING  •

 


•  VIRTUAL COURSES  •



•  IN-HOUSE TRAINING  •


CLASSROOM: Trading and Shipping Working Together

31 October - 3 November 2022, London, UK

 

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


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 4  


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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