Course Objectives:

This course aims to provide participants with a comprehensive understanding and knowledge base of shipping and demurrage. Participants are given details of a spot fixture, a copy of the charter party and a statement of facts relating to the voyage performed. They asked to calculate the amount laytime used, the amount of demurrage due, if any.


Who Should Attend

Planners, Managers Traders etc


Prerequisite Courses

None


Course Overview

• Introduction and Context
• Key terms, legal framework, laytime, fright rates
• Elements of a Voyage Charter Party, choice of law, time Bars, Arbitration and Dispute Resolution
• Legal framework for charter parties
• Owners and characters obligation under different forms of charter
• Defining Laytime
• Types and commencement of laytime, Interruptions and exceptions, completion
• Averaging and reversing laytime
• Calculating Laytime, Tankers, Dry cargo, Step by step guide, multiple charters, practical examples
• Demurrage, Detention and Despatch
• Contract law, damages for detention, stoppage and termination of demurrage, deadfreight, liability
• What is it, how is it incurred, who pays, how is it calculated?
• What does and does not count as used laytime
• Practical problems
• Documentation and dealing with potential discrepancies
• Calculating Demurrage
• Basic Calculations, time bar clauses, termination, practical examples
• Insurance
• Case studies on Maritime law


Course Materials

Course notes