MasterClass: Tanker Chartering

Learn the rights, responsibilities and liabilities of parties to a Tanker Charter; how to negotiate, fix, perform and conclude a charter; settling laytime, demurrage, warranty and other issues. Discussion of specific clauses of INTERTANK VOY76, INTERCOA, and SHELLTIME CP.

Course Outline

  • Tanker crude oil and products trades, ship types, classification, basic technical details, and terminology.
  • Capacity & General Arrangement plans.
  • Nature, characteristics, hazards and storage factors for dirty, light clean and chemical cargoes. Vessel / cargo compatibility, IMO certification.
  • Laws of environmental protection and pollution liability.
  • Roles / functions of IMO, Worldscale, OCIMF, Intertanko, OPEC.
  • Differences between voyage and time charters.
  • The “Battle of Forms” – which standard charter party to use?
  • Main clauses of INTERCOA 80, INTERTANKVOY76, BPTIME3, etc.
  • Rights, responsibilities and liabilities of parties to a charter.
  • Bill of Lading – its role; “clean” bill; delivery without bill.
  • Main clauses of standard charter party Bills of Lading.
  • Negotiating, fixing, performing and concluding the charter.
  • Charter calculations – freight/hire sums; late-hire, bunkers, dead freight / demurrage / dispatch / detention; performance claims.
  • Laytime – NOR; laytime commencement/interruption/exclusion; pumping warranty; Statement of Facts; Laytime Statement.
  • Handling and resolving chartering disputes.
  • Review / analyse legal precedents and relevant real world cases.

Target Audience
Professionals and practitioners involved in crude / products trading, refining / terminal operations, insurance claims, underwriting, chartering, ship owning / management, ship broking, trade and ship financing and banking.

About The Trainer
Mr VCS Vardan (LL.B, Barrister-at-Law), who is now a consultant in private practice, has more than 40 years’ experience in various aspects of supply chain management and logistics, and international trade/finance/contracts. He has trained trainers and conducted seminars and workshops from Vietnam to Dubai. He also specializes in Claims Handling consultancy.

Course Fee Coverage
Participants will each receive a printed Course Manual containing Course Slides, Course Notes, Case Studies and other reference materials.
Participants will be issued a Certificate of Completion.
Lunch will be provided.

For more information, please contact us via:
Phone: (+65) 9366 9001
Operating Hours: 9am to 5pm, Mondays to Fridays.
Closed on Saturdays, Sundays and Singapore Public Holidays.

Program is correct at time of printing but is subject to change without notice.
Payment to be made before course commencement and upon issuance of invoice.
Confirmation of enrolment will be sent to participants.

Course Withdrawal By Participant
Unless otherwise stated, if a participant’s written notice of withdrawal is received:

  • 4 weeks or more before course commencement: 100% refund of course fee.
  • 3 weeks before course commencement: 75% refund of course fee.
  • 2 weeks before course commencement: 50% refund of course fee.
  • 1 week before course commencement / participant is absent: no refund of course fee.

Course Transfer By Participant
Unless otherwise stated, if a participant’s written request for transfer to a subsequent course date is received, a SGD50 administration charge will be incurred.

Course Cancellation By VCS-Trinity Consultants
VCS-Trinity Consultants reserves the right to cancel any program in the event of insufficient enrolment or other unforeseen circumstances.
The full course fee will be refunded or the participant will be transferred to another class.