Understanding Tanker Chartering - two day course in Dubai

Few people consider the process by which refined oil products are delivered to the consumer markets, believing that "super-tankers" are still owned by the oil companies whose gasoline they are buying. The shipping industry, however, has broken the chain of vertical integration dominant in the era of the "Seven Sisters". Chartering markets have become bigger, more sophisticated and generate more revenue than ever.

Individuals working in the oil freight markets have a duty to deliver a professional service to their principals. Bad freight decisions may change a company's profitability, but a wrong chartering decision could bankrupt a company and may lead to charges of corporate negligence against senior management.

"Understanding Tanker Chartering" will expose participants to the skills required of a chartering executive, including preparation, negotiating, voyage planning, voyage estimating, post fixture operations and laytime calculating.

Introduction

● Development of the Tanker Market and Fleet
● Nature of Crude Oil and Oil Products
● Cargo Characteristics and the Choice of Carrying Vessel

Negotiating Techniques

● Negotiation Principles and the Position of Owner and Charterer
● Negiotiating Terminology
● How the Tanker Market Works

Voyage Estimating

● Benefits of the Worldscale System
● Tips and Tricks in using Worldscale
● Identifying Revenues and Costs for Voyage Estimating
● Route Determination, Backhauls and Vessel Re-Positioning

Key Concepts of Charter Parties and Bills of Lading

● Important Clauses versus Negotiable Clauses
● Payment; Performance and Duration Commitments
● Functions of Bills of Lading
● Letters of Idemnity
● Special Clauses used in the Oil Trades
● Resolving Disputes: Jurisdiction, Litigation and Arbitration

Post Fixture

● Laytime and Demurrage Principles
● Commencement and Exceptions Clauses
● Pumping Clauses
● Claims: Cargo Losses and Contamination

Tanker Chartering Issues

● Environmental Concerns and Regulatory Controls
● Growing Impact of Trading Tanker Forward Freight Agreements (FFAs)

Understanding Tanker Chartering

2008 dayes to be advised
Knowledge Village, Dubai

To reserve a place on this course, contact:

Naomi Jones
Seatrade Middle East
PO Box 114547
Dubai, UAE
Tel: +971 4 324 5344
Fax: +971 4 324 5345
Email: njones@seatrade-middleeast.ae