Tanker Ownership and Chartering - Advanced Strategies and Risk Management - TD4
CPE Credits Awarded: 24
Categories: Trading, Derivatives, Hedging and Risk Management, Oil Industry, Shipping and Bunkering, Global Association of Risk Professionals (GARP) Approved Course
Building on the knowledge gained in "Tanker Ownership, Chartering and Operations" (TD2), this three-day course offers delegates a more in-depth exploration of contracts and pricing issues surrounding the tanker industry. The course focuses on the implementation of tactics and practical strategies for enhancing commercial returns and business performance in tanker transportation - both from charterers' and owners' perspectives. It looks at how commercial risks may be hedged using freight futures or by entering into period charter agreements. Negotiating techniques and the key elements of contracts of affreightment are examined and discussed. A legal workshop provides a series of case studies designed to highlight some of the more common events impacting on commercial operations.
The course also looks at how companies have looked to improve their competitive positions through benchmarking and the development of tanker pools. In a high oil price environment, delegates learn how to improve voyage economics through optimising bunkering strategies.
The course emphasises sound commercial practice, drawing on the working knowledge and experience of the various industry speakers. Case studies and practical sessions provide delegates with hands-on experience of decision making in this area. While not essential it would be preferable for participants to have already attended "Tanker Ownership, Chartering and Operations" (TD2).
Presented in association with Richardson Lawrie Associates (RLA) - a maritime economics and business consulting firm with an extensive global practice in oil, gas and chemicals transportation. Together with The Oxford Princeton Programme, RLA has been presenting training programmes for many years around the world.
There are no pre-requisites for this course, nor is any advanced preparation required. Please note: a laptop and up-to-date version of Office would be an advantage in order to engage in market data; however it is not essential.
There are no pre-requisites for this course, nor is any advanced preparation required.
Please note: a laptop and up-to-date version of Office would be an advantage in order to engage in market data; however it is not essential.
What you will learn
- Understanding of the key issues facing players in today’s oil tanker markets and how companies are responding
- Risk management through the futures and period charter markets
- Successful contract negotiating
- Strategies for improving operating returns
- Some key decisions from cases in maritime law
The Oxford Princeton Programme is registered with GARP as an Approved Provider of Continuing Professional Development (CPD) credits. The Oxford Princeton Programme has determined that this program qualifies for 32 GARP CPD credit hours. If you are a Certified FRM or ERP, please record this activity in your Credit Tracker at http://www.garp.org/cpd
Delegates encouraged to attend include the supply, trading and risk management departments in oil companies as well as the commercial and operations departments in the shipping affiliates or divisions of oil companies. Also, the commercial and operations departments of ship owning companies and the planning and financial departments of shipping companies and oil company transportation divisions are urged to attend. Additionally, banks and financial institutions involved in oil tanker finance, accountants and legal firms dealing with energy transportation issues, oil trading and distribution companies and management new to the transportation sector will find the programme valuable.
Latest Industry Developments and Outlook
- What is currently driving the markets
- Implementation of IMO legislation and charterers’ requirements
- Charter rates and prices
- Options and hedging strategies
- Managing risk
- Quantifying your position
- The paper and physical markets
- Strategies for improving the bottom line
- Advantages and disadvantages
- The criteria for successful pool operations
- Negotiating contracts of affreightment (COAs)
- Key contract clauses
- COAs versus timecharters
- Time charter parties
Case Studies on Maritime Law
- Workshop studying actual cases
- Some pitfalls to be avoided
- The commercial impact
Improving Operating Performance
- comparing operating costs, practices and performance
- Improving voyage economics through optimum bunkering strategies
- There will be several exercises and case studies for syndicate groups
This is a three day course with the following keywords: ship, ships, shipping, tanker, tankers, tankering, maritime, chemicals, gas tankering, sea transportation, gas carrier, tanker ownership, chartering, crude shipping, cargo, cargoes
The Oxford Princeton Programme is registered with GARP as an Approved Provider of continuing professional education (CPE) credits. The Oxford Princeton Programme has determined that this program qualifies for 24 GARP CPE credit hours. If you are a Certified FRM or ERP, please record this activity in your Credit Tracker at www.garp.org/cpe
Charles Lawrie is a founding partner of Richardson Lawrie Associates, an independent firm of international maritime economists and business consultants established in 1987. He is responsible for the firm's consulting and retainer services in the crude oil, petroleum products and gas transportation sectors. He has spent 30 years in the oil and shipping sectors, more than 20 of which have been as project manager or senior consultant on shipping, economics, investment appraisals, feasibility studies, transportation strategies and business studies within Europe, the Americas and the Far East. He is a specialist in the development of: investment appraisals, business plans, strategy reviews; commercial/contractual advice, project implementation; evaluation of the transportation economics of varying routes, ports and cargo handling techniques; commodity trade flow analyses and forecasts; modelling and forecasts of short, medium and long term shipping traffic, shipping demand and shipping supply; and modelling and forecasts of shipping charter rates and vessel costs.
“The practical sessions were great to fix all we learned from the presentations. The information exchanged and experiences shared were very helpful.” E.P.B., Nigeria LNG Ltd
If you have attended a past course please provide us with some feedback.