An Intensive 5-day Training Course
Ship Chartering, Laytime & Demurrage Masterclass
Course Introduction
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 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.
Objectives
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 Should Attend?
This Ship Chartering, Laytime & Demurrage Masterclass 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
Course Outline
Day 1
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 2
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 3
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 4
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 5
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
Oxford Management Centre Certificate will be provided to delegates who successfully completed the training course.
Accreditation
In association with
