This course offers a thorough introduction to shipping management. The students will learn about different types of ships and trades. The basic practice and economics of international shipping is covered.The course also covers the drivers in the markets for different ships, cargoes, and trades.The focal point is the operation of ships. The course focuses on the deployment of ships and different standard contracts used for such purposes. The practical procedures of ship chartering is covered, including how to make money on the vessel trough operating it in the different markets. How to calculate ships costs, revenues and profits or losses is covered. The students will learn the basics of chartering and different contracts used for ship deployment. The students will learn to find, use and interpret standard charter parties and contracts of affreightment. This incudes bare boat chartering, voyage chartering and time chartering of vessels. Through voyage calculations and practical case work the students will learn to analyze profits and losses when operating the ship in the market. Common concepts such as chartering, demurrage, laycan and options will be discussed. The technical and commercial operation of the ship, including the various functions of the parties involved, is covered. So are the rules applicable to ship management, such as the ISM code and flag state and port state laws. The correlation between world trade and the need for and use of ships will be explained. Basic insurance covers will be discussed.
- Common contracts used for deployment of ships
- Management of the vessels and fleet
- Short term and long term contracts commonly used in shipping
- Chartering of vessels and contracts used
- The legal aspect of chartering
- The costs elements in shipping
- The principal shipping markets, the demand for and supply of shipping services
- Shipping operations and trading routes
- Revenues and costs in shipping
- Understanding the dynamics of shipping business cycles
- Understand the planning phase of ship management
- Voyage calculations
- Case work and summary
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