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 leads 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 GLOMACS 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.

Organisational Impact

The organisation will benefit by:

• Having a team that will fully understand the fundamentals of Ship Chartering Practice
• Managing The Market Players in Chartering
• Providing options to management on how best to deal with chartering contracts claims and the solutions.
• Understanding of Interruption of laytime (weekends/holidays, shifting, strikes, breakdowns)
• Managing Insurance claims settlement, subrogation and recovery claims
• Apply Economic Parameters of Sea-Going Vessels

Personal Impact

This training course teaches the competencies that enable delegates to:

• Understand the essential aspects and basis of Maritime and Shipping matters
• Improve understanding of how Charter Parties can be made and or resolved
• Gain an understanding of the basis of laytime and demurrage and how to minimize demurrage claims
• Gains skill sets to be better prepared to deal with difficult issues relating to Chartering and Insurance claims
• Knowing different dispute resolution methods used in resolving these maritime disputes