Trading and Shipping Working Together

Course

In (United Arab Emirates)

£ 3,500 + VAT

Description

  • Type

    Workshop

  • Level

    Intermediate

  • Class hours

    32h

  • Duration

    4 Days

Oil Trading and Shipping course is designed as a means to give you a sound overview of how the shipping industry and the trading industry work in tandem to move the oil round the world.

The emphasis of the course is on sound commercial practice, drawing on the working knowledge and experience of the course experts. You will understand how to calculate freight rates and demurrage looking at what the charter party allows and does not. The final 2 days is set aside for operational issues that arise and how to deal with them.
The course is enhanced with the practical sessions to provide you with hand-s on experience on decision making in this area

About this course

- Understand key issues facing players in today’s energy shipping markets
- Calculate shipping requirements, such as Worldscale, calculate freight costs, undertake voyage estimate, and time charter conversions
- Know the process of tanker chartering and the role of the broker
- Evaluate the options available for oil, products and bulk liquid chemicals transportation
- Estimate freight rates for potential business
- Understand the essential elements of a voyage charter party and the differences in owners’ and charters’ obligations under different forms of charter
- Participate in the preparation for, and the conduct of, charter party negotiations

The course is aimed at anyone who works in either the chartering or operational side of the oil tanker sector of the maritime industry:
- Traders
- Commercial and Operational personnel
- Transportation Management
- Chemicals producers, trading and distribution companies
- Personnel from banks and financial institutions, accountants and law firms

The emphasis of the course is on sound commercial practice, drawing on the working knowledge and experience of the course experts. You will understand how to calculate freight rates and demurrage looking at what the charter party allows and does not. The final 2 days is set aside for operational issues that arise and how to deal with them.
The course is enhanced with the practical sessions to provide you with hand-s on experience on decision making in this area.

After you request information, the next steps typically involve our team reviewing your request and gathering the necessary details. We may reach out to you for any additional information required to fulfill your request effectively. Once we have all the necessary information, we will process your request promptly. This may involve providing you with the requested information, sending you relevant materials, or guiding you through the next steps in the process, depending on the nature of your request. Our goal is to ensure that you receive the information or assistance you need efficiently and effectively

You can register:

- online on our website (www.ibhouse.net)
- by email, please fill out the registration form in our brochure and mail it to office@ibhouse.net
- by phone, please call us at +44 7932 572866

We will send you the confirmation by email within 24 hours after your registration.

Yes. Any of our open professional excellence courses can be run in-house to meet your company’s specific needs.

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Subjects

  • Trading
  • Shipping
  • Worldscale
  • Freight costs
  • Freight
  • Tanker chartering

Teachers and trainers (1)

Maritime  Lecture

Maritime Lecture

Maritime lecture

The course lecturer, with 45+ years of shipping and trading experience, is a fourth-generation shipping professional. He's a Baltic Exchange member since 1976, with roles as shipbroker, ship owner, gasoil futures broker, charterer, and commodities trader. He offers global maritime and commodities commercial claims consultancy and customized corporate training. Since 1994, he's been arbitrating maritime disputes. He's a Fellow of the Institute of Chartered Shipbrokers, the Chartered Institute of Arbitrators, and a Visiting Professor at the IMO's World Maritime and Shanghai Maritime Universities

Course programme

DAY 1

CONTRACTS:

• The commercial contract: where is shipping involved?
• What is a contract and why do we need one?
• Key Clauses and their value
• Incoterms
• Disputes and Resolutions
• Brokers and Traders

Practical Exercises:

Checking deals and contracts
Understand the value of tolerance
Force Majeure

OPERATIONAL ISSUES:

• Notices: What is a NOR? Are there other notices?
• Berthing and lightering: Who is responsible for getting to the berth?
• Inspection and measurement: Where is oil measured? Where do losses occur?

DAY 2

CALCULATING FREIGHT COSTS:

• Lump sum voyages: What is the real cost of freight?
• World Scale and shipping rates
• AFRA rates and freight risk
• Shipping and trading

Practical Exercises:

Calculating shipping costs
Using the World Scale and
Calculating rate and freight invoices
Choosing a ship

RISK IN SHIPPING:

• Financial risk and price risk: What are they?
• Hedging bunkers: Should we? Can we?
• Hedging freight costs: Freight Forward Agreements

MANAGING PRICE RISK:

• Understanding Exposure
• Examination of gasoil and fuel oil pricing: ICE and the Platts Window
• SWAPS: hedging, futures, swaps, and differential swaps
• Managing bunker prices
• Moving oil from A to B

Practical Exercises:

Long, Short or Flat: understanding price risk
Understanding Risk: when does price risk occur?
Simple hedging with swaps and futures
Price discovery for bunkers: MDO and HSFO

DAY 3

DOCUMENTATION

• Tanker Bills of lading: explanation and practical approach
• Governing conventions
• Letters of indemnity
• Delivery without bill of lading
• Changing bills of lading
• A time charter ship
• INCOTERMS 2000 v 2010

WHO IS WHO IN SHIPPING?

• The parties involved: Charterer – Broker – Owner
• Remuneration
• Choice of vessel (exercise)
• Typical example for a spot vessel
• Check list for charterer and owner
• Typical Recap

CHARTERING – STEP BY STEP

• How to make a charter – 10 steps
• Shipping negotiations
• Timing of chartering in the trade deals
• Making chartering decisions

DAY 4

LAYTIME AND DEMURRAGE:

• What is laytime and why does it matter?
• Why is demurrage a major risk for trading?
• Managing demurrage risk
• Demurrage and laytime in the commercial contract and the charter-party
• Worked calculations and examples for / from delegates

Trading and Shipping Working Together

£ 3,500 + VAT