International Petroleum Shipping and Freight Market
This CITAC training course, in partnership with Riverlake Shipping SA, will use numerous theoretical and practical workshops to examine in detail,international petroleum shipping and freight markets. It will explore the global and African situation and analyse key issues such as vessel selection, freight costs, risks involved in shipping petroleum products, the various benefits of working in the African market, and documentation.
The 4 day Course will cover:
International Shipping Market
- Oil Market Trends. What is happening? A recovery from the crash?
- The African Oil Market. Who is doing what? Who are the charterers and who are the active shipowners? What are the benefits of operating in Africa?
Piracy: a disaster for the market. Consequences?
- Vessels and types of hull/double hull. Pros? Ship measurements / Vessel draft (TPC) – Workshop.
- Ship-to-ship operations. Why and how? What are the risks and difficulties? How to measure the transshipped quantities?
How to charter?
- Parties involved. Who does what?
- Choosing a vessel
- Closing chartering contracts – Workshop
- Thoughts on the value of a shipping department
Charter-party contract negotiation. What is the best charter-party?
- Types of agreements
- Time charter
- Bare boat
- Legal liabilities
- Calculate freight costs per tonne or per Worldscale point
- Worldscale – How does it work? Justification and practical examples – Workshop
- Bills of lading – Explanation and practical approach
Demurrage – managing risks
- How to prevent demurrage
- Demurrage calculation – Workshop
- Vetting – Oil tanker quality. Floating dustbins?
- How to insure oil tankers. What protection?
- IMO & Class.
- P & I Club – shipowner insurance
- National flag or flag of convenience?
This course is designed for those involved in transportation of oil products and downstream oil market activities.