Chartering, Hiring of Vessels & Marine Insurance

Introduction

This training course on Chartering, Hiring of Vessels & Marine Insurance training course is designed to prepare the delegates for Vessels chartering types and concepts. This beneficial knowledge will directly lead for keeping the world’s shipping fleet in business. The Vessel Charterers needs to be in touch with the market to find the most suitable and cost effective transport options. The Ship Brokers or ship owners should be familiar with the arrangements to hire or charter ships to get the cargoes to their clients by the most cost-effective and timely means. 

This Chartering, Hiring of Vessels & Marine Insurance training course will highlight the following;

• Classification of Chartering Market
• Flag States and its Role in the Maritime Industry
• Maritime Governance and Shipping Regulations
• Maritime Conventions
• Ship Chartering and Broking Process
• Charter Party Common Clauses and Concepts
• Chartering Documents
• Ship Management and Logistics
• Maritime Liabilities and Marine Insurance

Objectives

This training course is aimed at developing an appreciation of the key practical issues for anyone involved with the Vessel Chartering or Brokerage Operations. This training course focuses on developing the attendees’ skills, knowledge and expertise required for a successful career in the demanding and highly competitive world of Shipping.

The main objectives of this training course shall include:

• The Market Players in Chartering
• The Role of the Shipbroker
• International Organisations and its conventions
• Private Organisations (NGO’s) roles & Regulations
• Types of Vessel’s Charter Parties
• Legal Aspects between the Owning, Operating & Chartering Partners
• Glossary of Chartering Terms
• Interruption of laytime (weekends/holidays, shifting, strikes, breakdowns)
• INCOTERMS and CIF, CFR and FOB export sales.
• Bill of Lading main types and commercial functions.
• Ship Operations and Management
• Basic principles of marine insurance as a contract of indemnity.
• Insurance claims settlement, subrogation and recovery claims
• Economic Parameters of Sea-Going Vessels
• The Implication of The Existing and Future Structure of the Maritime Trade
• LNG carrier rental prices reach record levels.

Training Methodology

This training course will utilize a variety of proven professional learning techniques to ensure maximum understanding, comprehension and retention of the information presented. The training course will be highly interactive and participative. This involves regular discussion between both delegates and course director. The training course will provide the participant with an in-depth knowledge through detailed information, real-life case studies, photos and video animation.

Who Should Attend?

This 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.

Course Outline

Day 1: 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.

Day 2: 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 3: 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 4: 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 damage, total loss or CTL while in transit.

  • Cargo theft and piracy.

  • Cargo owner 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 5: 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

  • Requirements According to Vessel Type

  • Requirements According to Navigational Geographical Areas

  • Registering Flag Requirements

  • Challenges for Vessel Registry

  • Vessel Certificates

  •  The Implication of the Existing and Future Structure of the Maritime Trade and The Current Fleet

• Vessel Economical Parameters

• Procedures and processes for preparing the ship before handing it over to the charterer.

• LNG carrier rental prices reach record levels.