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Course guide Course name: Shipbroking Academic year: 2016/2017 Course code: SJO295 Study period: LP3 Credits: 7,5 hp (ECTS) Programme Shipping and logistics owning the course: Language of English Department Shipping and marine instruction: giving the technology course: Examiner(s): Anna L.C. Hedén, [email protected] 031‐772 2691 Course responsible: Examiner Other staff: Patrick Hillenius, [email protected] , 0707‐61 50 14 Student Will be announced on billboard (anslagstavlan) in ping‐pong. representatives: Prerequisites For students at the Shipping and Logistics programme, 100 credits must have been gained within the programme to get accepted to the course. Aim The course is to offer deeper knowledge in maritime economics, tanker chartering and dry cargo chartering. 1 / 9 Learning outcome (After completion of this course, the student should be able to…) ‐ Explain ship broker's role and position in relation to his principal (so called authority). ‐ Explain business ethics in shipping. ‐ Explain charterparties (dry cargo and tanker) and relate to cargo and ship features and how it affects the deal. ‐ Explain how cargo and ship is put on the market and the negotiation procedure using standard abbreviations and technical terms. ‐ Explain the value chain from ‘well to wheel’ and tanker market development. ‐ Use Worldscale. ‐ Explain financial elements (freight, demurrage, dispatch, commissions). ‐ Explain possibilities/risks using time charter trip instead of a voyage charter. ‐ Explain and perform laytime calculations (dry cargo and tank). ‐ Clearly describe shipping related organisations, registered office, missions, type of organisation and how they contribute to its members. Content The course is divided into two main parts: Dry cargo chartering and tanker chartering. General learning objectives ‐ Derived demand of shipping ‐ International shipping organisations. ‐ Business ethics based on Baltic Exchange code of conduct for brokers, to act "as agent to" and the importance of not breaching this authority. Dry Cargo Chartering learning objectives ‐ Ship types and dimensions. ‐ Freight market and market customs ‐ Chartering contracts, financial elements, laytime, voyage calculations, bill of lading and cargo carrying. ‐ World trade ‐ Claims and liability 2 / 9 Tanker Chartering learning objectives ‐ Tank ships and systems ‐ Oil history, development and market structure ‐ World scale ‐ Voyage charter parties ‐ Time charter parties ‐ Laytime ‐ Financial elements Course literature Two books are needed, a third is optional Institute of Chartered Shipbrokers (2014) Tanker Chartering, London ISBN 978‐1‐908833‐40‐2 and Institute of Chartered Shipbrokers (2014) Dry Cargo Chartering, London ISBN 978‐1‐908833‐ 41‐9 ISBN 978‐1‐908833‐41‐9 Optional also Institute of Chartered Shipbrokers (2014) Shipping Business, ISBN 978‐1‐ 908833‐65‐5 New editions are printed every year. Due to substantial revision books older than 2013 are not recommended. NB: Books can be pre‐ordered and pre‐paid directly to Swedish Shipbrokers Association. Please contact examiner for further assistance. Course structure and organisation The course is divided into three subjects that is lectured parallel throughout the study period: Shipping Business (SB), mainly self‐studies, Anna Hedén Tanker Chartering (TKC), lecturing by Anna Hedén Dry Cargo Chartering (DCC), lecturing by Patrick Hillenius 3 / 9 1) Lectures including class‐room discussions. 2) A written assignment with peer‐review (fail/pass) 3) Student presentation in ‘speed‐date‐format’ on shipping organisations (fail/pass) We endeavour to also invite guest lecturers from the industry (in addition to Patrick Hillenius) but due to the nature of business we cannot guarantee who, when and on what topic. Please refer to TimeEdit for lecture times and lecture rooms. Please note that the order of the lectures may be altered but we endeavour to avoid that. SHIPPING BUSINESS (SB) SB lecture #1 The shipbroker duties SB Ch 2 + 4 (2014 ed.) SB Ch 6 + 8 (2015 ed.) After this lecture and own studies, the student should be able to; ‐ Explain derived demand for shipping. ‐ Explain the original interpretation of the term ‘shipbroker’ and how through the need of specializing it expanded to encompass all aspects of shipping business. For each role define for whom does the practitioner work? What form of contract there is between the entity and the practitioner? What does the work involve? What types of documentation does the practitioner normally use? How is the practitioner paid? Shipbroker and sustainability assignment. Further instructions in ping‐pong. SB lecture #2 Shipping organisations SB Ch 9 (2014 ed.) SB Ch 11 (2015 ed.) After this lecture, assignment and own studies, the student should be able to; ‐ Identify international shipping organisations and ‐ Explain what they do, who their customers/members are, how they contribute to their members and if there is any criticism against the organisation. SB lecture #3, #4 (and possibly #5) Students presentations/’speed‐dating’ Students have prepared their assigned international organisation(s) as home‐work. In class a kind of a speed‐date is performed where each student present their organisation during a limited time to efficiently teach peers. After the speed date, students will perform a discussion. Assignment: oral speed‐date presentation of shipping related organisations. Further instructions in ping‐pong. Final set‐up depends on number of participating students. 4 / 9 SB lecture #5 (or #6 as the case may be) Authority SB Ch 5 (2014 ed.) SB Ch 2+3 (2015 ed.) After this lecture, and own studies, the student should be able to; ‐ Identify and explain risks with breaching authority and the importance of not breaching authority given by principal. ‐ Discuss shipping business ethics, based on Baltic Exchange code of conduct for brokers. SB SEMINAR At the seminar students will discuss their results and peer‐review on written assignments. Lecturer will moderate discussions. See TimeEdit for date and room. TANKER CHARTERING (TKC) TKC lecture #1 The tankship and its systems TKC Ch 1 After this lecture, and own studies, the student should be able to; ‐ Sketch a tanker and identify important particulars and functions, typical ship sizes and types of tankers. ‐ Explain tanker market development from vertical monopoly to independent market. ‐ Interpret a market report. TKC lecture #2 Crude oil and market structure TKC Ch 2‐3.1 After this lecture, and own studies, the student should be able to; ‐ Explain the value chain from oil well, refining, petroleum product/chemical to consumer and principally important trades, ports etc. ‐ Explain tanker market structure and actors/stakeholders. ‐ Identify trading restrictions including but not limited to canals, weather, politics in main loading/discharging areas (SELFSTUDIES) TKC lecture #3 Voyage estimating and negotiating TKC book Ch 3.2‐3.4 and 4 and 5 Explain/perform the negotiation process using correct language and avoid pitfalls. 5 / 9 Explain voyage estimation and using WorldScale. Explain oil companies screening incl vetting inspections, SIRE and the implications for the shipowner and charterer related to approvals. TKC lecture #4 Tanker voyage and time charter TKC book ch 6 and 7 Explain and apply ASBATANK charterparty including protective clauses and additional clauses (when and how applicable) Explain voyage charter party for a single voyage, consecutive voyages and contract of affreghtment. Explain important clauses in a tanker time charter Write a firm offer (all tanker relevant parts included but no reference to dry cargo related matters) TKC lecture #5 Tanker laytime and demurrage TKC book ch 8 Explain principles for laytime calculations without the support of a charterparty. Identify clauses in a charterparty related to laytime & demurrage calculations and apply such clauses and explain their use/interpratation with special regard to ASBATANK cls 6‐9. Compare and contrast charterparties (laycan, laytime, notice, early loading, cancelling) TKC lecture #6 Financial elements in tanker chartering TKC book ch 9 Explain what clause is prevailing in case of conflicts in a charterparty Explain financial elements of tanker charters: What amount is due, when and relate relevant clauses. What documents are needed? Explain the difficulty to exercise lien in tanker chartering. 6 / 9 TKC lecture #7 Exam prep Preparing for written exam. Students are encouraged to bring any questions they have with them. Questions on previous exams are discussed. DRY CARGO CHARTERING (DCC) DCC lecture #1 The dry cargo ship: DCC book ch 1,2 After this lecture the student should be able to distinguish between different kinds of ships and argue which ships are suitable for which cargo? What is important for the charterers to know about the ship prior to committing themselves for a fixture? DCC lecture #2 The principles for voyage chartering DCC book ch 3,4 After this lecture the student should be able to discuss what parties need to agree upon in a voyage fixture and how to avoid pitfalls when fixing a ship. Write/interpret ships positions and cargo orders, draft an offer and explain the negotiation process. DCC lecture #3 The principles for time chartering DCC book ch 3,4 After this lecture the student should be able to discuss what parties need to agree upon in a time charter fixture Write/interpret ships positions and cargo orders, draft an offer and explain the negotiation process. The shipping market: The student should be able to explain
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