This Energy training course on Chartering, Hiring of Vessels & Marine Insurance is designed to equip participants with the knowledge of various types and concepts of vessel chartering. This expertise is crucial for ensuring the continued operation of the global shipping fleet.
Vessel charterers must stay connected with the market to identify the most efficient and cost-effective transport options. Ship brokers and owners need to understand the necessary arrangements to hire or charter vessels, ensuring that cargos are delivered to clients in the most cost-efficient and timely manner.
Key topics covered in this Chartering, Hiring of Vessels & Marine Insurance training course include:
- Classification of the chartering market
- The role of flag states in the maritime industry
- Maritime governance and shipping regulations
- Maritime conventions and their application
- The ship chartering and broking process
- Key clauses and concepts in charter parties
- Chartering documentation
- Ship management and logistics
- Maritime liabilities and marine insurance
This training course on Chartering, Hiring of Vessels & Marine Insurance aims to provide participants with a deep understanding of the key practical aspects of vessel chartering and brokerage operations.
Focused on enhancing the knowledge, skills, and expertise needed for a successful career in the highly competitive shipping industry, this PetroKnowledge course prepares attendees to navigate the complexities of the maritime world effectively.
Key objectives of this Chartering, Hiring of Vessels & Marine Insurance training course include:
- Identifying the key players in the chartering market
- Understanding the role of the shipbroker
- Exploring the influence of international organizations and their conventions
- The role and regulations of private organizations (NGOs)
- Different types of vessel charter parties
- Legal considerations between owning, operating, and chartering partners
- Key chartering terms and their meanings
- Understanding laytime interruptions (weekends, holidays, strikes, breakdowns)
- Application of INCOTERMS and understanding CIF, CFR, and FOB export sales
- Main types of Bills of Lading and their commercial functions
- Managing ship operations and logistics
- Understanding the fundamentals of marine insurance as a contract of indemnity
- Handling insurance claims, subrogation, and recovery
- Analyzing the economic parameters of sea-going vessels
- Assessing the impact of current and future structures in maritime trade
- Understanding record levels of LNG carrier rental prices
This Chartering, Hiring of Vessels & Marine Insurance training course will utilise a variety of proven professional learning techniques to ensure maximum understanding, comprehension, and retention of the information presented. The workshops will be highly interactive and participative. This involves regular discussion between both delegates and consultant. This Energy training course will provide the participants with an in-depth knowledge through detailed information, real-life case studies, photos, and video animation.
The organization will gain several advantages, including:
- A team with a thorough understanding of the core principles of ship chartering practices
- Improved management of key stakeholders in the chartering market
- Enhanced ability to provide management with effective solutions for handling chartering contract claims
- A clear understanding of laytime interruptions (weekends, holidays, shifting, strikes, breakdowns)
- Proficiency in managing insurance claims, subrogation, and recovery processes
- Insight into the economic parameters of sea-going vessels for better decision-making
This Chartering, Hiring of Vessels & Marine Insurance training course equips delegates with the skills to:
- Grasp the fundamental concepts of maritime and shipping operations
- Enhance their understanding of how charter parties are formed and resolved
- Learn the principles of laytime and demurrage, along with strategies to reduce demurrage claims
- Develop the expertise to effectively address challenging issues related to chartering and insurance claims
- Become familiar with various dispute resolution methods for handling maritime disputes
This Energy Chartering, Hiring of Vessels & Marine Insurance 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 ship chartering & hiring operations or administration such as:
- Charterers, Shippers and Maritime Attorneys
- Contract Professionals / Negotiators
- Procurement Personnel
- Chartering Personnel
- Legal Advisors / Personnel
- Freight Forwarders
- Shipping Agents
- Marine Insurers
- Legal Advisors
- Individuals that are looking to expand shipping and international sea-trade knowledge
- Fresh entrants to the industry whose job responsibilities depend on rapid absorption of specialist knowledge of the charterer industry
- Shipping Company Owners, Directors, and Senior Manager
Day One: Introduction to Ship Chartering, Maritime Governance, and Shipping Regulations
- Introduction to ship chartering
- What is ship chartering?
- Basic terms used in shipping
- Classification of chartering market
- Ship characteristics
- Ship classification societies
- Flag states and its role in the maritime industry
- The market players in chartering
- The role of the shipbroker
- Maritime governance and shipping regulations
- International organisations
- IMO, ILO & UNCTAD
- Private organisations (NGO’s)
- ICS, BIMCO, IACS, INTERTANKO, INTERCARGO & INCOTERMS
- Maritime conventions
- SOLAS, MARPOL, STCW & MLC
- UNLCOS
- Flag state and port state control
- International organisations
Day Two: Ship Chartering & Broking Process and Charter Party Common Clauses
- Ship chartering & broking process
- Types of vessels
- Types of vessel’s charter parties
- Time charter
- Voyage charter
- Pare boat
- Legal aspects between the owning, operating & chartering partners
- General and additional clauses of the charter party
- Responsibilities owners & charters under time / voyage charters
- The responsibility of the master, officers and engineers
- Shipbroking and chartering
- Shipbroker – origin and practice
- Brokers and their functions
- Tanker chartering
- Charter party common clauses
- INCOTERMS and CIF, CFR, and FOB export sales
- The concept of seaworthiness
- Glossary of chartering terms
- Charter party clauses
- Laycan, laytime, notice of readiness, demurrage & dispatch
- Clauses associated with costs
- Interruption of laytime (weekends / holidays, shifting, strikes, breakdowns)
Day Three: Chartering Documents & Ship Management and Logistics
- Chartering documents
- Charter party
- Bill of lading main types and commercial functions
- The hague, hague visby, and hamburg rules and their legal impact on the parties to a bill of lading
- Commercial invoice
- Cargo manifest
- Booking note
- Cargo documents
- Bill of lading, cargo manifest, certificate of origin, certificate of quality, notes of protests, statement of facts & SSSCL
- Ship management and logistics
- Roles of departments in a shipping company
- Ship operations and management
- Port agency, liner agency & freight forwarder
- Transporting cargo
- Methods of transporting cargo
- Cargo handling equipment
Day Four: Maritime Liabilities & Marine Insurance
- Maritime liabilities
- Shipowner loss & liabilities:
- Collisions, jetty contacts and groundings
- Hull and engine damage repairs and time lost
- Cargo damage, pollution, crew injury and death
- Sinking and total loss
- Charterer liabilities:
- Unsafe port and berth claims by shipowners
- Stevedore damage
- Contaminated bunker fuel damage to ship’s engines
- Bunker pollution
- Cargo owner loss & liabilities
- Cargo damage, total loss or CTL while in transit
- Cargo theft and piracy
- Shipowner loss & liabilities:
- Marine insurance
- What is marine insurance
- Principles of marine insurance
- Functions of marine insurance
- Basic principles of marine insurance as a contract of indemnity
- Marine insurance policies
- Types of marine insurance
- Insurance claims settlement, subrogation, and recovery claims
- The international group of P and I clubs
Day Five: Factors Affecting the Vessel Management of Operational / Economical Parameters
- Vessel management & operational
- Ship management
- Technical management
- Economical management
- Economic parameters of sea-going vessels (shipping terminology, ship’s tonnage (weight, displacement, capacity)
- Ship measurements
- Tonnage
- Capacities
- Vessel certificates
- Requirements according to vessel type
- Requirements according to navigational geographical areas
- The implication of the existing and future structure of the maritime trade and the current fleet
- Registering flag requirements
- Challenges for vessel registry
- Ship management
- Vessel economical parameters
- Procedures and processes for preparing the ship before handing it over to the charterer
- LNG carrier rental prices reach record levels
