Chartering in the Tanker Industry (VIRTUAL CLASSROOM) - TDAV 

CPE Credits Awarded: 9
Categories: Oil Industry, Oil Supply and Trading, Shipping and Bunkering, LPG, Lubricants, Virtual Classroom Courses

PLEASE NOTE: This virtual course is comprised of three separate instructor-led sessions over 3 days.  See the outline for date and time details.

Course Date Duration Venue Price Registration Deadline Register
08 Feb 2021 3 Days Globally Online - London & Singapore Time Country: sg
$ (USD)1,395.00+7%GST
Limited Seats Remain!


8-10 February 2021
 Singapore Timing  London Timing
Session 1: 8 February 2021  
 2:00pm - 5:00pm SGT  6:00 - 9:00 GMT
Session 2: 9 February 2021
 2:00pm - 5:00pm SGT  6:00 - 9:00 GMT
Session 3: 10 February 2021 
 2:00pm - 5:00pm SGT  6:00 - 9:00 GMT


This intensive, nine hour on-line instructor led seminar is spread over three days, held in association with Richardson Lawrie AssociatesLtd. The central themes of the seminar are the issues which arise out of chartering in the oil tanker markets whether from the perspective of Owners or Charterers or, for that matter, any other organisation for whom this is an essential subject. The aim is to provide practical insights into the economics of tanker shipping, commercial operating strategies, chartering tactics, the recognition of risks and the impact of environmental legislation on the transportation of crude oil and petroleum products. Through a series of presentations and exercises, the course is designed to equip participants with the necessary tools to evaluate the risks and opportunities in today’s complex shipping markets.

This course will be of interest to those engaged in the supply, trading and risk management of oil and petroleum products business; commercial and operations departments of ship-owning companies; planning and financial departments of shipping companies and oil transportation divisions; banks and financial institutions involved in oil tanker finance; accounting and legal firms dealing with energy transportation issues; oil trading and distribution companies; management personnel who are new to the transportation sector.



Virtual Instructor-Led Session 1:

  • The Market Place
    • Key Factors Driving the Markets (oil consumption, crude oil and petroleum product sources, tanker demand and supply, legislation);
    • Market Behaviour and Trends in Charter Rates.
  • Worldscale
    • Where used and how applied;
    • How the System is Constructed and Maintained,
    • Benefits;
    • Evaluating the Competitive Position of US Exports using Worldscale
  • Developing a Chartering Strategy (Part 1)
    • Different Types of Charter;
    • Comparing Spot (Single Voyage) Freight Rates with Time Charter Rates;
    • Voyage Estimating
    • Time Charter Evaluation – Theory

Virtual Instructor-Led Session 2:

  • Developing a Chartering Strategy (Part 2)
    • Time Charter Evaluation – Practical
  • Choice of Charter
    • From Owners’ and Charterers’ Perspectives
    • Advantages and Disadvantages of Different Types of Charter
    • Special Cases
  • Commercial Operating Strategies
    • Key Players’ Aims - Owners, Charterers and Brokers
    • Chartering Tactics
    • Tanker Pools
    • Speed Optimisation

Virtual Instructor-Led Session 3:

  • Vessel Selection
    • Physical, Commercial and Approvals Constraints
    • Vetting
    • Oil Company ‘Approvals’
    • Information Sources
  • Monitoring the Marine Function
    • Investment, Physical, Technical, Commercial, Operational and Financial Performance
  • Profit Leakage
    • Risks to Charterers and Traders
    • Reputational, Criminal, Contractual, Operational, Price


The supply, trading and risk management departments in oil, gas and petrochemical companies, the commercial and operations departments in the shipping affiliates or divisions of oil companies, the commercial and operations departments of ship owning companies, the planning and financial departments of shipping companies and oil company transportation divisions, banks and financial institutions involved in oil tanker, gas and chemical carrier finance, accountants and legal firms dealing with energy transportation issues, oil trading and distribution companies and management new to the transportation sector.


Charles Lawrie is a founding partner of Richardson Lawrie Associates, an independent firm of international maritime economists and business consultants established in 1987. He is responsible for the firm's consulting and retainer services in the crude oil, petroleum products and gas transportation sectors. He has spent 30 years in the oil and shipping sectors, more than 20 of which have been as project manager or senior consultant on shipping, economics, investment appraisals, feasibility studies, transportation strategies and business studies within Europe, the Americas and the Far East. He is a specialist in the development of: investment appraisals, business plans, strategy reviews; commercial/contractual advice, project implementation; evaluation of the transportation economics of varying routes, ports and cargo handling techniques; commodity trade flow analyses and forecasts; modelling and forecasts of short, medium and long term shipping traffic, shipping demand and shipping supply; and modelling and forecasts of shipping charter rates and vessel costs.

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