Introduction to Shipping Terminology - IST
CPE Credits Awarded:
Categories: Oil Industry, Shipping and Bunkering
This one-day course provides an introduction to shipping terminology, including the main terms and activities that explain what the jargon means, the processes and the roles of who is involved in the shipping world. Its teachings will also include information on legislation, freight contracts and markets and negotiations within the industry.
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This course is designed for non-specialist staff who interact with shipping companies, charterers and lawyers and other executives who need to understand the main terminologies. This course will provide you with all the basics to ask the right questions and get the right answers.
Ship Types, Characteristics and Trades
- Ship types: commercial definitions; AFRA types, knots, dwt, GRT, LOA, beam, draft
- Ships by trade, products they carry
The Cast of Characters - Who Does What
- Owners, operators, charterers, shippers, brokers
- Institutions and organisations, e.g. PSC, IMO, Intertanko, SITGO, CDI, SIRE, OCIMF, Worldscale, Marpol, Solas, London Tanker Brokers Panel
The Voyage from Planning to Completion
- Who gives orders
- The sequence of events
- Letters of Indemnity
- Bills of Lading
- The negotiation
Types of Freight Contract
- Spot, T/C, COA, CVs, bareboat charters, terms e.g. TCE, owners/charterers responsibilities
Worldscale, AFRA and the Freight Markets
- How rates are reported
- Inco Terms FOB, CIF, CFR
Legislation and Its Impact
- Single hull phaseout
- IMO/EU/OPA 90
Contract Terms and Charter Parties
- Charter party terms e.g. law, description of the parties, differences, other issues e.g. deadfreight
- COA and T/C terms
This is a one day course with the following keywords: ship, ships, shipping, tanker, tankers, tankering, maritime, chemicals, LNG, Liquefied Natural Gas, gas tankering, sea transportation, gas carrier, tanker ownership, chartering, crude shipping, cargo, cargoes
Mr Charles Lawrie
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