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Ship Chartering, Laytime &  Demurrage Masterclass

An Intensive 5-Day Online Training Course

Ship Chartering, Laytime &
Demurrage Masterclass

Resolution of Commercial & Legal Complexities

Scheduled Dates

15 - 19 Apr 2024 Online $3,950
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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 online Masterclass will give participants a comprehensive understanding of the essential aspects of chartering. This PetroKnowledge online 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 Online 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 online 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
  • Procurement Personnel
  • Chartering Personnel
  • Legal Advisors / Personnel
  • Freight Forwarders
  • Shipping Agents
  • Marine Insurers
  • Legal Advisors
  • Finance

How will this Training Course be Presented?

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice/

Daily Agenda

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

Certificate

  • On successful completion of this online training course, a PetroKnowledge E-Certificate will be awarded to the delegates

Frequently Asked Questions

How can I register for a training course?

  • 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

When and how do I arrange payments?

  • 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.

When should I expect to receive confirmation of registration?

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.

Is there a discount for more than one registrant/course?

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

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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