Fundamentals of Oil, Petrochemicals and Gas Shipping (CLASSROOM) - TD1
Course Summary
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.
Who Should Attend?
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.
Course Content
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
Demurrage
- 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
Exercises
- 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
