About this Training Course

There are nearly 700 LNG Tankers in service, 216 more on orderbooks and 30 LNG Bunker Vessels in operation and 16 more on order, which sets an unprecedented record for growth of LNG Transportation Sector in the Year2022. Spot Charters, Emergency Charters, and alternatives to crude oil from sanctioned countries were some of the drivers for surge in demand in 2022. However, the interim factors may appear to be of some significance, but the key drivers are global movement towards clean energy and reduction of GHG Emissions. The surge in Floating LNG Terminals (FSRUs and FSUs) by conversion and newbuilding projects has created more destinations for LNG Tankers in the last five years.

The traditional business models of LNG SPAs linked CPAs are vanishing to be replaced with short-term Charters and Spot Charters. This change is also due to increase in number of intermediaries between producers and consumers. The consumers are no longer limited to power plants or industrial units, but ships are increasing steadily in the number and types of consumers for LNG bunkers. Thus, transportation of LNG by ships is no longer linked to Gas Sales Agreement from producers to buyer over a horizon of 20 to 25 years. The trend has changed and is evolving over the last 10 years. The futuristic trend would be on use of LNG as a fuel for ships to replace low Sulphur bunkers. This requires bunkering hubs for LNG and increasing need for transportation from producing countries to bunkering hubs.

Therefore, it is becoming essential to develop new strategies not only for employment of LNG Tankers, but also for sales and purchase of LNG as a commodity. This necessitates rethinking and redrafting LNG specific Charter Party Agreements to be dynamic with evolving contexts.

This 3 full-day course and workshop are exclusively developed for the management and professionals, engaged in niche segments of LNG Trading and LNG Tankers (Ship Owners, Charterers, LNG Traders, Terminal, and Ship Operators) for LNG cargoes. Whether Gas sales rates are high or low, LNG tankers must recover daily running costs of a vessel. To manage risks of contemporary trends, the terms of engagement or the Charterparty must be reviewed strategically. One must ensure that all risks are well apportioned and appropriately mitigated. The increasing use and number of Floating LNG Storage Vessels brings with it new opportunities and poses new and unforeseen risks.

This course can also be offered through Virtual Instructor Led Training (VILT) format.

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