Course Objectives
Ship chartering is one of the most important segments of ocean transport. Though the practice of chartering is a few hundred years old, chartering still maintains its prime position among all sectors of ocean transport. The disruptions in the commercial world in the last few years emphasises the need for a thorough understanding of chartering practice to make commodity trade and shipping business a success. Over the years the practice of ship chartering has also undergone changes with newer forms of charter being introduced among practitioners. This course gives the participants an in depth understanding of chartering – be it time charter, period charter or voyage charter. The course also deals with contracts of affreightments and bare boat charters.

Who Should Attend?
Directors and Managers with responsibilities for renewable energy strategy development. Also, individuals with interest in renewable energy.

Prerequisite Course
None

Course Overview

Overview of ocean transport

o Types of ships and cargoes
o Types of services in ocean transport

Entities in chartering and their roles

Types of charter

o Voyage charter
o COA
o Time charter
o Period charter
o Bare boat charter

Charter markets and Market Reports

Port agent’s role in chartering

Evaluating charter business

o Voyage estimating and other aspects of the business.

Negotiating and charter

o Offer
o Counter offers
o Recap of main terms
o Clean recap
o Charter Parties and charter party negotiations
o Some key charter party clauses and their impact.

Risk mitigation

o P & I Clubs and their role in chartering
o Time charterers liability cover and voyage charterers liability cover.

Fixture operations in chartering

o Demurrage, despatch, detention, NOR, SOF and laytime calculations
o Management of contracts of affreightment
o Bare boat charter and demise charter
o IMO’s new green initiatives and their impact on chartering

Course Objective

Participants should be able to differentiate different types of charters and choose the most appropriate one for their business.

Undertake chartering activities

Understand the finer points of charter negotiations.

Choose the appropriate risk mitigation method as a ship charterer.

Impact of new green initiatives in chartering practice.

Course Materials
Course notes, case studies, etc