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Why Choose this Training Course?
Master the A to Z of Chartering Contracts, Laytime and Demurrage. The shipping adventure, sometimes called the carriage of goods by sea involves several stages from the loading voyage, with the vessel sailing in ballast to the loading port, the loading operation and then the carrying voyage until the unloading or discharging of the cargo. The shipowners and charterer roles and responsibilities in every stage and the inter-play between them and how it pans out during the course of a voyage will determine the success or failure of that voyage. It is important to understand contractual provisions in a charter party and negotiate the terms in order to avoid pitfalls in chartering of the ships and to provide for the calculating of laytime and demurrage which will invariably affect all the parties’ bottom line.
This 5-day Ship chartering, Laytime & Demurrage Masterclass will give participants a comprehensive understanding of the essential aspects of chartering. This PetroKnowledge training course will enable participants to better negotiate charter parties, have insight to make strategic decisions on chartering and to be at an advantage when negotiating chartering contracts. The knowledge and expertise gained from this workshop will enable the participants to return to work with many new strategies to apply in practice.
What are the Goals?
Attendance on Ship Chartering, Laytime & Demurrage Masterclass helps participants to capitalize on the expert knowledge to gain maximum value on these vital issues:
Attain a comprehensive and in-depth knowledge of ship charter contracts
Recognise the differences between the many types of charter parties
Understand the jargon and abbreviations
Appreciate the rights and obligations of Charterers and Owners
Avoiding pitfalls in negotiating chartering contracts
Manage & mitigate the risks involved in chartering of vessels
Who is this Training Course for?
This PetroKnowledge 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 shipping operations or administration such as:
Contract Professionals / Negotiators
Legal Advisors / Personnel
Day One: Introduction to Ship Chartering, Laytime & Demurrage
The basic principles of chartering
Different types of chartering: time, voyage and bareboat
Understanding ship owners and charterers roles, rights and obligations
Common contract & commercial terms of charter parties
Examples of charter parties used in different trades
Understanding shipping trade “jargon”
Understand what is laytime, demurrage and despatch
Day Two: Defining Laytime
Legal and operational issue: the laytime
All possibilities and remedies undertaken
The types of laytime
The complications that may occur in the commencement of laytime
What can be considered as an exception for laytime commencement?
Day Three: Calculating Laytime
How to interpret “Laytime Definitions 2013” and charter party clauses?
The commencement of laytime
How to assess the duration or laytime?
The cessation of laytime
How to estimate the demurrage / despatch earned?
How to recognize fundamental differences between dry cargo and tanker laytime?
How to make a laytime calculation of multiple charters?
Day Four: Defining Demurrage, Detention and Despatch
The fundamental contract law relating to demurrage, damages of detention, despatch and deadfreight
How to determine the rate of demurrage in dry cargo and liquid cargo trades?
The liability of charterers for demurrage
How to assess the termination of demurrage periods?
How to determine the rate of despatch in dry cargo trades?
The responsibility of the charterer to load full and complete cargo
The effect of deadfreight on demurrage
The content and rational of past cases of English common law
How to estimate the demurrage / despatch earned?
Practical differences in the despatch calculation
Practical differences between normal, reversible and average laytime
Day Five: Calculating Demurrage
How to define laytime and demurrage?
How to perform demurrage calculation both for dry and wet charters?
Consequence of incorrect choice of wording in drafting charter party clauses regarding demurrage
The importance of diversified interpretation of terms agreed
The differentiation in claims resulting from such interpretation
Analysing charter party clauses and documents required for calculations
On successful completion of this training course, a PetroKnowledge Certificate will be
awarded to the delegates
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