Fundamentals of Oil, Petrochemicals and Gas Shipping - TD1 

CPE Credits Awarded: 8
Categories: The Natural Gas Industry , Oil Industry, Shipping and Bunkering

Course Date Duration Venue Price Registration Deadline Register
Open date - Not scheduled. Please enquire.


Shipping affects several aspects of a commodity including its marketing, supply, pricing, competition tactics and trading opportunities. Contracts can be complex, the legal and commercial implications profound. This one-day course provides insights into who is responsible for what, economic choices, common terminology, freight contracts and negotiations.


A range of non-specialist employees and consultants such as those who interact with their own shipping departments and shipping companies, marketing and business strategists and contracts specialists. Individual interests may reflect management issues or day to day business tactics and operations.


Ship Types, Characteristics and Trades

  • Ship types: commercial definitions and characteristics
  • Ships by trade, products they carry

The Cast of Characters - Who Does What

  • Owners, operators, charterers, shippers, brokers
  • Institutions and organisations, e.g. PSC, IMO, Intertanko, IPTA, SITGO, CDI, SIRE, OCIMF, Worldscale, Marpol, Solas, London and New York Tanker Brokers Panel

The Voyage from Planning to Completion

  • Sequence of Events
  • Negotiation
  • Who Gives What Orders
  • Letters of Indemnity
  • Bills of Lading

Types of Freight Contract

  • Voyage (spot)
  • Time Charters
  • Contracts of Affreightment
  • Consecutive Voyages
  • Bareboat Charters
  • Owners/Charterers responsibilities

How Rates are Reported

  • Freight Markets
  • Worldscale and AFRA

Sales and Shipping Contracts

  • Inco Terms - FOB, CIF, CFR


  • Responsibilities
  • Where Does This Fit in Freight Costs
  • How is it Calculated

Contract Terms, Charter Parties

  • Law
  • Description of the parties,
  • Differences
  • Deadfreight
  • COAs and Time Charter issues


  • The course is a practical introduction to the liquids transportation markets and participants have the opportunity to test their skills through a number of short exercises


Mr Charles Lawrie

UK: (+44) 1865 250521   |   USA: (+1) 713 343 1699   |   Singapore: (+65) 6809 1170


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Mennta Energy Solutions (formerly The Oxford Princeton Programme, Inc.) is not affiliated with Princeton University, Oxford University, or Oxford University Press.