When freight rates are inadequate to meet the daily running costs of a vessel, the terms of engagement or the Charter Party must be reviewed microscopically to ensure that all risks are well apportioned and appropriately mitigated. In this intensive training course, you will be able to acquire expertise from real life experiences, enabling you to deal better with the contemporary challenges facing Oil Tankers today.
Some of the key challenges addressed in this intensive course are:
1. Making a Choice of the Charter party Form
(SHELLTIME4, BPVOY, ASBATANKVOY, GASVOY, GASTIME, BPTIME) in context of type of Cargo, Vessel Type, terminals and duration
2. Comprehensive Risks Identification, Evaluation and Mitigation Strategies
– Computation and allocation of idle time
– Explicit measurement criteria for Lay time and Demurrage Claims
– Implication of SIRE
3. Termination of Time Charters for Cause and for Convenience
– Can the delays in damage repairs be considered as a breach?
– Fall in Market Prices and Restructuring of the existing Time Charter Party
4. Tank Cleaning Costs and Risk of Contaminants
– How much time and cost can a Charterer pay for tank cleaning and slops
– Liabilities of Charterers for cargo tank debris / damage
– Liability of Terminal Operators and service providers in causing contaminations
5. Performance Obligations of the Parties as per the Charter party Agreement
– Charterer’s Obligations, Bunkers and Boil-off Gas Usage Limits
– Owner’s Obligations and Liabilities, ROB, Limits of Boil-off and Cargo Loss
– Bills of Lading and Responsibility Assignment Matrix
This course has been developed to meet the needs of the Tanker SOCSO fraternity, encompassing following underlying objectives:
- Enhance the interpretation and applicability of clauses in a Charter Party in context of the commercial proposition;
- Evaluate commonly used types of Charter Party Forms for Voyage and Time Charter and comprehend the key features of each Form in context of use;
- Interpret terms and conditions of a Charter Party in context of international maritime conventions, competition and economic factors;
- Evaluate current and future trends in petroleum transportation and the influence of regulatory regimes and strategies of Oil Majors;
- Recognise the avenues of collaboration, contentions, conflicts and manage disputes to avoid losses;
- Manage operations towards ensuring delivery of performance obligations under the Charter Party; and
- Create a Charter Party Management System (CMS) in the company to ensure profitability for each voyage and term.
Upon completion of the course and hands-on workshop based on real life cases, you will be able to:
- Restructure the Charter party agreements with alternative clauses to avoid pitfalls and surprises during execution;
- Evaluate impact of uncertainties and identify undefined parameters with cost considerations;
- Appraise potential risks and develop risk mitigation strategies;
- Enhanced consciousness about the rider clauses and commercial impact of each such addition;
- Deal with breakdowns and delays in an appropriate and timely manner with an objective of avoiding loss of time and deviations from the desired monetary projections;
- Recognise the appropriate Standard Form to be used for each type of assignment; and
- Manage contentious situations through alternative dispute resolution channels and litigation effectively.
Ship owners and managers – Charterers including Importers, Exporters and Traders – Shipbrokers – Port and ship agents – P&I personnel – Logistics and shipping professionals – Legal advisers, solicitors and barristers – Government bodies and representatives.
From the following roles as General Manager, Commercial Manager, Business Development Manager, Legal Counsel, Post-Fixtures Manager, Fleet Manager, Charter Party Specialist, Marine & Technical Superintendents.
Your expert course leader is the practising Chartered Arbitrator and Principal Management Consultant with Tiberias Management Consultants Private Limited, Singapore and Hong Kong. He specialises in the fields of corporate management consultancy, international contracts reviews and Alternative Dispute Resolutions. Over a 43-year period, he has worked and consulted in the industry verticals encompassing, Oil & Gas majors, EPCIC Contractors, Construction Projects, Shipping, Logistics & Warehousing, and international shipyards. He has also worked as a consultant to the Infrastructure Development Projects, Oil & Gas Pipe Laying Contracts, Ports, Offshore Supply Bases, Shipyards and Owners of Oil & Gas Tankers, Dry Bulkers, Drill Ships, OSVs and FPSO’s.
His consulting expertise traverses through Business Process Re-engineering, Diversifications, Corporate Development, Project Management, Feasibility Studies, Dispute Resolutions and Market Research. He has been engaged for strategic planning, including assignments like due diligence, resolving various operational issues, consortium contracts reviews, cost controls, project management matters and enhancement of procurement and supply chain management systems. He has successfully assisted offshore E & P clients in managing disputes arising from various international EPCIC projects, contracts for rig building, ships upgrading & conversion projects. He continues to be actively engaged in claims reviews, adjudication, mediation, arbitration, litigation and expert witness related assignments, arising from international construction contracts and Charterparty Agreements.
Your expert course leader has held positions of General Manager and Consultant with major Shipyards and Managing Director, General Manager and Senior Manager, with the companies from the construction industry, heavy engineering fabrications, and marine & offshore services sectors. He was responsible for the projects related to the works on Offshore Vessels refurbishment, FPSO Conversions, Gas Tanker Repairs, Process Modules engineering, Lateral Gas and Oil Pipelines’ and other (EPCIC) construction related works. He has developed special methodologies for managing CMGD (Complex, Multiple, Geographically Dispersed) projects.
He graduated with a Bachelor’s Degree in Electrical Engineering, MBA in General Management, Master of Technology in Knowledge Engineering and Master of Science in Maritime Studies. He holds professional qualifications in arbitration law, contract law and marine engineering, including the Chief Engineer’s First Class Certificate of Competency. He is currently engaged in the field of intellectual property, trademarks, copyrights and patents protection-related studies and investments treaty-related matters.
He is ‘Fellow’, Asian Institute of ADR (‘FAIADR’); Fellow, Chartered Institute of Arbitrators, (‘FCIArb’); Member, Maritime Law Association of Singapore, Fellow, Hong Kong Institute of Directors (FHKIoD) and Member, Singapore Institute of Directors (M.S.I.D.) He is also a Member of Association of International Petroleum Negotiators (AIPN), USA and several other organisations.
He regularly undertakes appointments as Arbitrator for resolving international disputes. He is admitted to the panel of arbitrators with ACICA & AMTAC, Sydney, Australia; AIAC, Malaysia; DIAC, Dubai, (UAE); KCAB, Korea; SCCA, Saudi Arabia; SCMA, Singapore; HKIAC, Hong Kong; LCIA, London, UK; VIAC, Vienna, Austria; ICA, Delhi, India; WIPO Arbitration & Mediation Centre; and Past Member, ICCA, PCA Hague, Netherlands. He is also an empaneled Adjudicator and Mediator with AIAC, Malaysia and Accredited Mediator of CMC, Ministry of Law, Singapore.