Course description
Shipbrokers are the key to a transaction between a ship owner and the shippers of cargo.
The broker is involved in many stages of a deal: presenting the business to potential clients, negotiating the main terms of a contract, finalising the details of the contract and following the deal through. Brokers provide clients with market intelligence and advice.
Charterparties are one of the key contracts used by brokers in the shipping industry – an industry worth billions of dollars. They are complex and detailed contracts, and using the
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Outcome / Qualification etc.
- Understand shipbroking – the profession, its origins, purpose and industrial relevance
- understanding of the practical, commercial and legal frameworks governing charter parties is absolutely essential.
- cover all aspects of key issues in chartering, legal and practical solutions to problems and techniques for avoiding such problems all together
- Recognise alternative chartering strategies U nderstand the charter party – its usage, purpose and legal influence on a charter agreement
- Comprehend CFR vs FOB sale terms
- Analyse voyage estimating – how ship owners determine freight rates
- Identify laytime definitions
- Gain a working knowledge of bills of lading
Training Course Content
Introduction, Market Context and Broking
- What is a charterparty?
- Types of charterparty
- Commercial context of charterparties
- Examples of charterparties used in different trades
- Key issues of contract law as applicable to charterparties
- Broker’s role in negotiating and fixing charterparties
Time Charterparties I – Introduction and Owners’ Issues
- Trade ‘jargon’ and abbreviations
- Owners and time charterers – who are they?
- Main features of a time charterparty
- Routing and due despatch
- Description of the vessel
- Seaworthiness and maintenance
- Delivery obligations
- Customary assistance
- Bunkers – supply and liability issues
- Obligations to cargo interests
Time Charterparties II – Charterer Issues
- Hire
- Failure to pay hire – owners’ remedies
- Cargo loading/discharge and description
- Use and employment of vessel and indemnity
- Cargo claims – Interclub Agreement
Voyage Charterparties I – Introduction and Owners’ Obligations
- What is a voyage charterparty?
- Commercial context
- Stages of the charterparty
- Vessel description
- Expected ready to load/eta
- Seaworthiness
- Hague Visby Rules
- Owners’ lien on cargo
Voyage Charterparties III – Laytime and Demurrage
- What is laytime?
- Starting laytime
- Exceptions to laytime
- General exceptions
- Demurrage and despatch
- Laytime calculations
- Charterers’ defences
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London Maritime Academy
London Maritime Academy provides a wide range of maritime training courses tailored to the global industry. Located in London and known for international standards, we offer diverse Classroom and Online courses taught by highly experienced experts in the maritime sector....