Chartering, Hiring of Vessels & Marine Insurance

An Intensive 5-day Training Course

Chartering, Hiring of Vessels
& Marine Insurance

Ship Chartering Principles, Liabilities & Compliance to Regulations

Chartering, Hiring of Vessels & Marine Insurance

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We currently have no scheduled session for this Course. If you are interested in running this course, please contact our Training Department at info@petroknowledge.com

Why Choose this Training Course?

This Chartering, Hiring of Vessels & Marine Insurance training course is designed to prepare the delegates for vessels chartering types and concepts. This beneficial knowledge will directly lead for  keeping the world’s shipping fleet in business.

The vessel charterers need to be in touch with the market to find the most suitable and cost effective transport options. the ship brokers or ship owners should be familiar with the arrangements to hire or charter ships to get the cargoes to their clients by the most cost-effective and timely means. 

This PetroKnowledge training course will highlight the following:

  • Classification of chartering market
  • Flag states and its role in the maritime industry
  • Maritime governance and shipping regulations
  • Maritime conventions
  • Ship chartering and broking process
  • Charter party common clauses and concepts
  • Chartering documents
  • Ship management and logistics
  • Maritime liabilities and marine insurance

What are the Goals?

This Chartering, Hiring of Vessels & Marine Insurance training course aims to develop an appreciation of the key practical issues for anyone involved with the vessel chartering or brokerage operations.

This PetroKnowledge training course focuses on developing the attendees’ skills, knowledge, and expertise required for a successful career in the demanding and highly competitive world of shipping.

The main objectives of this Chartering, Hiring of Vessels & Marine Insurance training course are:

  • The market players in chartering
  • The role of the shipbroker
  • International organisations and its conventions
  • Private organisations (NGO’s) roles & regulations
  • Types of vessel’s charter parties
  • Legal aspects between the owning, operating, & chartering partners
  • Glossary of chartering terms
  • Interruption of laytime (weekends / holidays, shifting, strikes, breakdowns)
  • INCOTERMS and CIF, CFR, and FOB export sales
  • Bill of lading main types and commercial functions
  • Ship operations and management
  • Basic principles of marine insurance as a contract of indemnity
  • Insurance claims settlement, subrogation, and recovery claims
  • Economic parameters of sea-going vessels
  • The implication of the existing and future structure of the maritime trade
  • LNG carrier rental prices reach record levels

Who is this Training Course for?

This Chartering, Hiring of Vessels & Marine Insurance training course is highly recommended for new entrants to the shipping industry, staff in liner shipping companies, chartering, and trading companies.

It is particularly useful for staff involved in day-to-day ship chartering & hiring operations or administration such as:

  • Charterers, Shippers and Maritime Attorneys
  • Contract Professionals / Negotiators
  • Procurement Personnel
  • Chartering Personnel
  • Legal Advisors / Personnel
  • Freight Forwarders
  • Shipping Agents
  • Marine Insurers
  • Legal Advisors
  • Individuals that are looking to expand shipping and international sea-trade knowledge
  • Fresh entrants to the industry whose job responsibilities depend on rapid absorption of specialist knowledge of the charterer industry
  • Shipping Company Owners, Directors, and Senior Manager

How will this Training Course be Presented?

This Chartering, Hiring of Vessels & Marine Insurance training course will utilise a variety of proven professional learning techniques to ensure maximum understanding, comprehension, and retention of the information presented. The workshops will be highly interactive and participative. This involves regular discussion between both delegates and consultant. This PetroKnowledge training course will provide the participants with an in-depth knowledge through detailed information, real-life case studies, photos, and video animation.

Organisational Impact

The organisation will benefit by:

  • Having a team that will fully understand the fundamentals of ship chartering practice
  • Managing the market players in chartering
  • Providing options to management on how best to deal with chartering contracts claims and the solutions
  • Understanding of interruption of laytime (weekends / holidays, shifting, strikes, breakdowns)
  • Managing insurance claims settlement, subrogation, and recovery claims
  • Applying economic parameters of sea-going vessels

Personal Impact

This Chartering, Hiring of Vessels & Marine Insurance training course teaches the competencies that enable delegates to:

  • Understand the essential aspects and basis of maritime and shipping matters
  • Improve understanding of how charter parties can be made and or resolved
  • Gain an understanding of the basis of laytime and demurrage and how to minimise demurrage claims
  • Gains skill sets to be better prepared to deal with difficult issues relating to chartering and insurance claims
  • Know the different dispute resolution methods used in resolving these maritime disputes

Daily Agenda

Day One: Introduction to Ship Chartering, Maritime Governance, and Shipping Regulations
  • Introduction to ship chartering
    • What is ship chartering?
    • Basic terms used in shipping
    • Classification of chartering market
    • Ship characteristics
    • Ship classification societies
    • Flag states and its role in the maritime industry
    • The market players in chartering
    • The role of the shipbroker
  • Maritime governance and shipping regulations
    • International organisations
      • IMO, ILO & UNCTAD
    • Private organisations (NGO’s)
    • ICS, BIMCO, IACS, INTERTANKO, INTERCARGO & INCOTERMS
    • Maritime conventions
      • SOLAS, MARPOL, STCW & MLC
      • UNLCOS
      • Flag state and port state control
Day Two: Ship Chartering & Broking Process and Charter Party Common Clauses
  • Ship chartering & broking process
    • Types of vessels
    • Types of vessel’s charter parties
      • Time charter
      • Voyage charter
      • Pare boat
    • Legal aspects between the owning, operating & chartering partners
    • General and additional clauses of the charter party
    • Responsibilities owners & charters under time / voyage charters
    • The responsibility of the master, officers and engineers
    • Shipbroking and chartering
      • Shipbroker – origin and practice
      • Brokers and their functions
      • Tanker chartering
  • Charter party common clauses
    • INCOTERMS and CIF, CFR, and FOB export sales
    • The concept of seaworthiness
    • Glossary of chartering terms
    • Charter party clauses
      • Laycan, laytime, notice of readiness, demurrage & dispatch
    • Clauses associated with costs
    • Interruption of laytime (weekends / holidays, shifting, strikes, breakdowns)
Day Three: Chartering Documents & Ship Management and Logistics
  • Chartering documents
    • Charter party
    • Bill of lading main types and commercial functions
    • The hague, hague visby, and hamburg rules and their legal impact on the parties to a bill of lading
    • Commercial invoice
    • Cargo manifest
    • Booking note
    • Cargo documents
      • Bill of lading, cargo manifest, certificate of origin, certificate of quality, notes of protests, statement of facts & SSSCL
  • Ship management and logistics
    • Roles of departments in a shipping company
    • Ship operations and management
      • Port agency, liner agency & freight forwarder
    • Transporting cargo
      • Methods of transporting cargo
      • Cargo handling equipment
Day Four: Maritime Liabilities & Marine Insurance
  • Maritime liabilities
    • Shipowner loss & liabilities:
      • Collisions, jetty contacts and groundings
      • Hull and engine damage repairs and time lost
      • Cargo damage, pollution, crew injury and death
      • Sinking and total loss
    • Charterer liabilities:
      • Unsafe port and berth claims by shipowners
      • Stevedore damage
      • Contaminated bunker fuel damage to ship’s engines
      • Bunker pollution
    • Cargo owner loss & liabilities
      • Cargo damage, total loss or CTL while in transit
      • Cargo theft and piracy
  • Marine insurance
    • What is marine insurance
    • Principles of marine insurance
    • Functions of marine insurance
    • Basic principles of marine insurance as a contract of indemnity
    • Marine insurance policies
    • Types of marine insurance
    • Insurance claims settlement, subrogation, and recovery claims
    • The international group of P and I clubs
Day Five: Factors Affecting the Vessel Management of Operational / Economical Parameters
  • Vessel management & operational
    • Ship management
      • Technical management
      • Economical management
    • Economic parameters of sea-going vessels (shipping terminology, ship’s tonnage (weight, displacement, capacity)
      • Ship measurements
      • Tonnage
      • Capacities
    • Vessel certificates
      • Requirements according to vessel type
      • Requirements according to navigational geographical areas
    • The implication of the existing and future structure of the maritime trade and the current fleet
      • Registering flag requirements
      • Challenges for vessel registry
  • Vessel economical parameters
    • Procedures and processes for preparing the ship before handing it over to the charterer
    • LNG carrier rental prices reach record levels

Certificate

  • On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.

In Association With

GLOMACS Training

Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients

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Frequently Asked Questions

  • To register online through our website, please click “Enroll Now” on the course page, complete and submit the form. A confirmation e-mail and instructions will be sent to the participant’s e-mail.
  • You may also get in touch with our Registration Team on
    +971 50 981 7386 | +971 2 557 7389 or send an email to reg@petroknowledge.com

  • Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the invoice.
  • Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted.
  • Invoices will be sent via email/courier to the ID/name and address provided.
  • The course fee shall be settled prior to course start date. Corporate payments with existing payment policy shall be relayed to us in advance.

Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.

For corporate fees and group registration, please send your query to info@petroknowledge.com.

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