MG 4169 Shipbroking and Chartering UK LEVEL: 6 UK CREDITS: 15 US CREDITS: 3/0/3 (Summer 2019)

Home , Chartering (shipping), Shipbroking

DEREE COLLEGE SYLLABUS FOR:

PREREQUISITES: MG 1010 Introduction to Shipping

CATALOG Dry-bulk and tanker chartering; sale and purchase of ships in theory and in DESCRIPTION: practice. Charter party negotiations, contract documentation and post fixture operational administration.

RATIONALE: Students specializing in shipping must understand the essential elements of shipbroking and chartering practices. This course provides a thorough understanding of ship chartering, sale and purchase of ships in theory and in practice. It places emphasis on the practical understanding of the components, the terminology and the dynamics of ship chartering and ship broking.

LEARNING OUTCOMES: As a result of taking this course, the student should be able to:

1. Analyze and explain key concepts in shipbroking, chartering practice and charter/agency contracts. (analysis)

2. Prepare charters and assess chartering decisions in the bulk and liner markets. (synthesis and evaluation)

3. Explain the obligations undertaken by the ship owner and the charterer in each of the types of Charter Party and the resulting allocation of costs. (evaluation)

METHOD OF TEACHING AND In congruence with the teaching and learning strategy of the college, the LEARNING: following tools are used: a) Classes consist of lectures, discussions and case studies. Throughout the lectures students develop knowledge and understanding related to the subject content. Discussions reinforce students’ cognitive and key transferable skills. b) Office Hours: Students are encouraged to make full use of the office hours of their instructor in order to consult and discuss issues related to the course's content. c) Use of blackboard site, where instructors post lecture notes, assignments instructions, timely announcements, as well as additional resources.

ASSESSMENT: Summative: Written project; Individual; 1,800-2,200 words 40% Final Examination – essay type; 2 hours 60%

Formative: Coursework - case studies and experiential exercises 0% In-class I-hour “diagnostic” test - formative 0%

The formative coursework aims to prepare students for the final examination. The written project tests Learning Outcome 1. The final examination tests Learning Outcomes 2, 3.

INDICATIVE READING: REQUIRED READING:

 Pagonis T., Pentheroudakis N., 2019, 'Chartering Manual by Practitioners', 1st Edition by Practitioner’ Book Avenue, LLP, 27, Old Gloucester street, London WC1N 3AX, United Kingdom.

RECOMMENDED READING :

 Collins, Nick. The essential guide to chartering and the dry freight market. Clarkson Research Studies, 2000  Carriage Of Goods By Sea, John F Wilson, Longman Latest Edition, ISBN: 978 1405846691  Dry cargo chartering. ICS, 2013. Isbester, Capt Jack. Bulk carrier practice: a practical guide (2nd edn). Nautical Institute, 2010  Goldrein, I.ain and Turner, Paul. Ship sale and purchase (4th edn). Informa, 2003  Institute of Chartered Shipbrokers (2009). Dry Cargo Chartering, London: Witherbys.  Institute of Chartered Shipbrokers (2009). Tanker Chartering, London: Witherbys.  Tanker chartering. ICS, 2013  H. Williams, “Practical Guides, Chartering Documents”, 4th edition, 1999.  Martin Dockray, ‘’Case & Materials on the Carriage of Goods by Sea’’, 3rd edition, 2004.  John Schofield, ‘’Laytime and Demurrage”, 4th edition, 2000

INDICATIVE MATERIAL : N/A REQUIRED MATERIAL: (E.g. audiovisual, digital material, etc.)

RECOMMENDED MATERIAL:

COMMUNICATION Assignments presented in Word. REQUIREMENTS: Use of proper English, both oral and written.

SOFTWARE Microsoft Office: Word, Excel REQUIREMENTS:

WWW RESOURCES:  Institute of Chartered Shipbrokers – http://www.ics.org.uk  International Chamber of Shipping - www.marisec.org/  International Maritime Organization - www.imo.org  Maritime Industry Foundation – www.maritimeindustryfoundation.com/index.htm  Intertanko - https://www.intertanko.com  The Baltic and International Maritime Council www.bimco.org

INDICATIVE CONTENT: 1. Overview of ship chartering market 2. Composition of the freight market; participants in the freight market and their interests and concerns; 3. Basic concepts of ship chartering and charterers; obligations 4. Different types of charters: voyage, time, bareboat or demise charter 5. Main charter terms and practical considerations in drafting charterparties 6. Voyage estimating, Laytime calculation; ballast bonus 7. Payment of hire- off hire 8. Role and liability of shipbrokers 9. Ship ordering and ship scrapping 10. Ship sale and purchase activities