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AIM:
1) To ensure a thorough knowledge and understanding of Dry Cargo Chartering.
2) To develop relevant communication skills.
SHIPS
Types of ships employed in dry cargo trades including Capesize, Panamax and Handy
Size bulk carriers, General Purpose, Container, Ro/Ro, Ore/Bulk/Oil and
Ore/Oil carriers.
Basic dimensions, design and construction details including decks, holds,
hatches, derricks, winches, cranes and specialised cargo handling gear.
Terminology of measurements including dimensions, tonnages, cubic
capacities, TEUs.
Content and information available from Capacity and General Arrangement plans.
Compatibility of different ships for cargoes and trade routes.
CARGOES AND TRADE ROUTES
Commodities - their nature, characteristics, hazards and stowage requirements.
Areas of production. Trade routes and seasonal variations including approximation of
time and distance.
Alternative routes and seasonal variations.
Institute warranty limits.
FREIGHT MARKETS
Market Practitioners; Charterers, Shipowners, Operators.
The structure of the market, major market centres.
The role of the Broker.
Methods of communications and market reporting.
Factors affecting the market including natural catastrophes, environmental, aid
programmes, political crises.
Merchants' trading terms (INCOTERMS) and the impact of documentary credits.
Joint Ventures and shipping pools.
The impact of e-commerce on market practice.
CONTRACTS
Standards forms of voyage and time charter parties and their suitability to different
trades.
Format and clauses common to all Charter Party forms.
Voylay Rules 1993 and FONASBA Time Charter Interpretation Code 2000.
Drafting additional clauses and addenda.
Rights responsibilities and liabilities of owners and charterers.
Consecutive voyage contracts and Contracts of Affreightment.
BILL OF LADING
The role of the bill of lading in charter parties. Relationship to mate's receipts. The
demand for clean bills of lading. Non production of original at discharge ports and
practical solutions.
Problems relating to bills of lading under time charters.
CHARTERING MARKET PRACTICE
Procedure of negotiations; offer and counter offer, essential details to be included in
offers, "subjects" and "fully fixed". The role of the post fixture department.
Legal, tactical and ethical requirements.
Breach of warranty of authority (with and without negligence).
Professional negligence and indemnity insurance. Defaulting principals.
FINANCIAL ELEMENTS OF CHARTER PARTIES
Freight and Hire calculations and payment methods including lump sum freight.
Voyage Charters - deadfreight, demurrage despatch, damages for detention and
freight taxes.
Time charter - late hire payment, payment for bunkers, associated clauses.
Performance claims, off-hire events, delivery, final voyage and
re-delivery. Ballast bonuses.
Commissions and brokerage.
The use of freight market derivatives.
LAYTIME
Importance of the clarity of notice of readiness clauses. Tendering valid NOR.
Commencement of and interruptions to laytime and excluded time.
Interpretation of Statement of Facts and production of Laytime Statement, calculation
of laytime used and demurrage/despatch.
Application of "Voylay Rules" with particular reference to Berth-v-Port charters and
Weather Working.
CALCULATIONS
Voyage estimating - making the calculation.
Comparing alternative voyages, comparing voyage with time charter, $/tonne with
lump sum.
Time Charter calculation of Ballast Bonus; comparison of $/day with DWT/month.
GENERAL
Resolution of Disputes; commercial courts, arbitration and Alternative Dispute
Resolution (ADR). Role of the shipowners' and intermediaries P&I associations.
NB: No exemption is permitted from this subject.
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