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Course Level
Introduction
Delivery Method
Live Instructor-Led Virtual Course
Professional Development Credit Hours
9
Pre-requisites
There is no pre-requisite for this course.


Faculty

Charles Lawrie is a founding partner of Richardson Lawrie Associates, an independent firm of international maritime economists and business consultants established in 1987. He is responsible for the firm's consulting and retainer services in the crude oil, petroleum products and gas transportation sectors. He has spent 30 years in the oil and shipping sectors, more than 20 of which have been as project manager or senior consultant on shipping, economics, investment appraisals, feasibility studies, transportation strategies and business studies within Europe, the Americas and the Far East. He is a specialist in the development of: investment appraisals, business plans, strategy reviews; commercial/contractual advice, project implementation; evaluation of the transportation economics of varying routes, ports and cargo handling techniques; commodity trade flow analyses and forecasts; modelling and forecasts of short, medium and long term shipping traffic, shipping demand and shipping supply; and modelling and forecasts of shipping charter rates and vessel costs.


Accreditations

NASBA: Mennta Energy Solutions is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org

CPD Certification Services: The CPD Certification Service works with Mennta Energy Solutions to ensure valuable knowledge is structured to complement the universal guidelines of Continuing Professional Development. Mennta Energy Solutions courses are approved by CPD at one credit per training hour.

BAC: Mennta Energy Solutions is pleased to be endorsed by the BAC for Independent Further Education as a Short Course Provider. Endorsement covers courses delivered in the UK only.

GARP: Mennta Energy Solutions is registered with GARP as an Approved Provider of Continuing Professional Development (CPD) credits.

Laytime & Demurrage: Fundamental Principles & Concepts (VIRTUAL) - TDLDV


Course Schedule

Date Time Location Price* Registration Deadline**
5-7 Dec 2022
Register
10:00am-1:00pm (New York) / 15:00-18:00 (London)
Zoom: Americas to Europe
USD 1,480 (TDLDV-VILTNA22-12)
4 Nov 2022

*Prices do not include VAT, GST, or any other local taxes. All applicable taxes will be added to the invoice.
**Please register by the deadline to help us ensure sufficient attendance and avoid postponing the course.


Course Summary

Laytime and Demurrage are perhaps the two most litigious aspects of shipping contracts and have been the subject of numerous disputes over the years. This training programme is uniquely designed to focus on understanding the fundamental principles and concepts of Laytime and Demurrage (both Wet & Dry sectors), providing knowledge and practical guidance to effectively navigate these complex contractual issues. Delegates will have the opportunity to gain precious insight and first-hand knowledge from our leading industry experts.

This highly interactive training program will emphasize on sound commercial practice drawing on the extensive knowledge and experience of the course presenters and cover important concepts including general principles, key definitions, charter party clauses and dispute resolution mechanisms. The course includes case studies and practical workshops with real life examples that will provide hands-on learning experience, demonstrate and encourage the practice of actual methods and allow participants to put their skills into practice.

What Will You Learn?

  • Gain in-depth understanding of the fundamental principles and concepts of Laytime and Demurrage from leading experts.
  • Study and discuss Laytime and Demurrage related clauses in various dry and wet charterparties.
  • Learn from relevant case laws and authorities to understand and apply the law to Laytime and Demurrage disputes.
  • Opportunity to learn the proper method of Laytime and Demurrage calculations in a guided workshop setting.
  • Examine available dispute resolution mechanisms in your contracts.

Who Should Attend?

The supply, trading and risk management departments in oil, gas and petrochemical companies, the commercial and operations departments in the shipping affiliates or divisions of oil companies, the commercial and operations departments of ship owning companies, the planning and financial departments of shipping companies and oil company transportation divisions, banks and financial institutions involved in oil tanker, gas and chemical carrier finance, accountants and legal firms dealing with energy transportation issues, oil trading and distribution companies and management new to the transportation sector.


Course Content

General Principles of Laytime

  • Laws of Oleron
  • Laytime and the Voyage
  • Customary v Fixed Laytime
  • Interruption v Exception to Laytime
  • Demurrage, Detention and Despatch defined

New Laytime Definitions for Charterparties 2013

  • Discussion & Explanation of main definitions
    • What is a Port and/or a Berth?
    • Working Day – WWD or WDWP
    • Holidays – Legal, Super and/or CP Holidays
    • Reachable on Arrival and Always Accessible
    • Time Lost waiting for Berth, WIBON and WIPON

Types of Laytime, Demurrage and Despatch

  • Laytime - Reversible, Non-Reversible and Averageable
  • Concept of “Once on demurrage, always on demurrage”
  • Despatch - All Time Saved and Working Time Saved
  • Workshop with worked examples

Commencement and End of Laytime

  • Specified Destination and End of Sea Passage
  • Four stages of a voyage
  • Concept of an “Arrived Ship”
  • Notice of Readiness and its validity
  • Port v Berth Charter and “Port Limits” defined

Commencement and End of Laytime

  • End of Laytime, Despatch and Demurrage
  • Discussion using relevant case laws
  • “The Johanna Oldendorff”, “The Arundel Castle” and “The Merida”

Tanker, Gas & Dry Bulk Charterparties – Laytime and Demurrage Clauses

  • GENCON and AMWELSH
  • Asbatankvoy and Shellvoy 6
  • LNGVOY and GASVOY

Interruptions and Exceptions Clauses

  • Exceptions and Half Rate Exceptions
  • Weather Conditions
  • Pumping Warranty
  • Tank Washing
  • Letters of Protest

Practical Session - Laytime & Demurrage workshop Tanker and Dry Bulk Exercises continued…..

  • Apply Laytime and Demurrage concepts learned in the past two days to solve dry bulk and tanker exercises based on real life examples.

Legal Issues – Laytime and Demurrage

  • Governing law
  • Dispute Resolution Clauses and Mechanisms

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