Course description
International Trading Operations Practice is a three-day instructor-led energy trading course presented by the energy training experts at Mennta Energy Solutions. This course provides the detailed practices and techniques involved in trading operations in today’s international crude and product markets. It has been designed for front, middle and back office personnel who need a detailed insight into trading operations best practice and emphasises the factors which have impact on corporate profitability and risk. It will also appeal to personnel who have recently joined a trading group of an oil company, investment bank or commodity trading company. Much of the work will be carried out in syndicate groups where teams will simulate real in-company practice, working with other delegates drawn from a wide background of disciplines in the industry.
The course commences with the progress of a trade, and the formation of a contract and moves on to the elements flowing from this that require operations management, including chartering, nomination, documentation and claims. Each area is discussed in detail and topics such the relevant quality and specifications of actively traded product groups, the logistics of managing pipeline and storage deals and appointment of inspectors are also covered.
The course commences with the progress of a trade, and the formation of a contract and moves on to the elements flowing from this that require operations management, including chartering, nomination, documentation and claims. Each area is discussed in detail and topics such the relevant quality and specifications of actively traded product groups, the logistics of managing pipeline and storage deals and appointment of inspectors are also covered.
What You Will Learn
- The progress of a trade
- Basic terminology of tankers and freight
- Key operational clauses in a contract
- Price pricing
- Chartering processes and shipping operations
- Nomination procedures
- Overview of refining and quality
- Blending operations
- Laytime and demurrage
- Documentation instructions
- Managing letters of credit
- Pipeline and storage deal operations
- Measurement of quantity and quality
- Cargo insurance and losses
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Suitability - Who should attend?
Industry professionals within an oil/energy trading department with responsibilities in front, middle or back office functions
Suitability
Industry professionals within an oil/energy trading department with responsibilities in front, middle or back office functions.
Training Course Content
Contracts
- The legal requirements of a contract
- Structuring the key terms of a contract and price
- Contracts and controls
Shipping
- Understanding the basics and terminology
- Calculation of freight and Worldscale
- Chartering process and key terms
- Shipping operations
- Demurrage
Contract Operations
- Nomination procedures
- Documents and the Bill of Lading
- Price reporting
- Letters of credit and the banks
Quantity and Quality
- Measurement of quantity and quality
- Product types & grades
- Relevance of product qualities
- Significance of reproducibility and repeatability
Logistics
- The Loading and discharging process
- Blending linear and non linear
- Other logistics – including pipeline operations
- Storage logistics – agreements, inventory and operations
- Transaction costs
- Inspection of cargo and vessel
- Insurance, losses and claims in oil and shipping
Case studies and Exercises include:
- Freight and Worldscale
- The spot crude sale contract
- Blending to meet product quality
- Letter of Credit documentation
- Pipeline economics
- Storage
- Demurrage
- Operational exposures other than price
Content
Contracts
- The legal requirements of a contract
- Structuring the key terms of a contract and price
- Contracts and controls
Shipping
- Understanding the basics and terminology
- Calculation of freight and Worldscale
- Chartering process and key terms
- Shipping operations
- Demurrage
Contract Operations
- Nomination procedures
- Documents and the Bill of Lading
- Price reporting
- Letters of credit and the banks
Quantity and Quality
- Measurement of quantity and quality
- Product types & grades
- Relevance of product qualities
- Significance of reproducibility and repeatability
Logistics
- The Loading and discharging process
- Blending linear and non linear
- Other logistics – including pipeline operations
- Storage logistics – agreements, inventory and operations
- Transaction costs
- Inspection of cargo and vessel
- Insurance, losses and claims in oil and shipping
Case studies and Exercises include:
- Freight and Worldscale
- The spot crude sale contract
- Blending to meet product quality
- Letter of Credit documentation
- Pipeline economics
- Storage
- Demurrage
- Operational exposures other than price
Reviews
Average rating 5
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01 Nov 2011
Worth time & money
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This course was very intensive but worth the time and money invested. It addressed challenges I had on the job.