Duration: 2 Weeks

 

Course Objectives:

This course aims to provide participants with a comprehensive understanding and knowledge base of shipping and demurrage. Participants are given details of a spot fixture, a copy of the charter party and a statement of facts relating to the voyage performed. They asked to calculate the amount lay time used, the amount of demurrage due, if any.

Who Should Attend

Planners, Managers Traders etc.

Course Overview

- Introduction and Context
- Key terms, legal framework, lay time, fright rates
- Elements of a Voyage Charter Party, choice of law, time Bars, Arbitration and Dispute Resolution
- Legal framework for charter parties
- Owners and characters obligation under different forms of charter
- Defining Lay time
- Types and commencement of lay time, Interruptions and exceptions, completion Averaging and reversing lay time
- Calculating Lay time, Tankers, Dry cargo, Step by step guide, multiple charters, practical examples
- Demurrage, Detention and Dispatch
- Contract law, damages for detention, stoppage and termination of demurrage, dead freight, liability
- What is it, how is it incurred, who pays, how is it calculated?
- What does and does not count as used lay time
- Practical problems
- Documentation and dealing with potential discrepancies
- Calculating Demurrage
- Basic Calculations, time bar clauses, termination, practical examples
- Insurance
- Case studies on Maritime law