How much does it cost to ship oil?
This is an interactive online course lead by two experts and supported with real shipping scenarios and worked examples. The class lasts four hours and the participants will share an online powerpoint and live board explanations. Participants are expected to have a basic knowledge of oil markets.
International oil trading means moving crude oil and products on giant vessels called tankers. How do traders hire oil tankers? How are the costs calculated? How important is the cost of shipping in the oil market?
This course will look at vessel chartering. You will understand how to calculate freight rates looking at what the charter party does and does not permit. Both sessions also include time to discuss operational issues which arise and how to deal with them.
How are oil tankers chartered?
-Owned and operated vessels and Bare Boat Charters
-Time Charters, Spot charters, COA’s
How do shipowners calculate freight?
-Prices of vessels
-Fixed operating costs
-Variable operating costs
Shipping Markets and Prices
-Supply and Demand for shipping
-What else drives prices?
Chartering a Vessel: what do you pay?
-Lump sum voyages
-Dollar per tonne or barrel
-Worldscale: flat rates and multipliers
Vessel Employment Methods
- Voyage Chartering
- Period Timechartering
- Trip Timechartering
- Longer Term Time Charter / Contracts of Affreightment (COAs)
The class is interactive and live. Questions are welcomed throughout and web based white boards will be used to demonstrate where required. The class will have exercises to help understand freight rates
Please check your time zone:
@ 9 am in London
@ 12 pm in Dubai
@ 4 pm in Singapore
Each Part Duration: 2 Hours
Total: 4 hours
4 CPD credits Industry Certificate