Institute of Commercial Management | Qualification Subject

Shipbroking & Chartering Practices

Main Topics of Study

Introduction to Chartering and Shipbroking

  • Roles of shipbrokers and chartering agents
  • Benefits associated with the work of shipbrokers
  • Types and functions of shipbrokers
  • Types of charterparties
  • Functions associated with chartering

Chartering Activities

  • Chartering negotiations
  • Voyage and time charters
  • Chartering procedures
  • Offers and counter offers
  • Ethical considerations and market practices

Voyage and Time Charterparties

  • Voyage and time charterparties documentation
  • Differences between voyage and time charter activities
  • Elements and clauses of voyage charterparies
  • Elements and clauses of time charterparties

Voyage estimating

  • Benefits associated with the calculation of voyage estimates
  • Bunkers, ports and distances, load line zones
  • Techniques and approaches used in voyage estimate calculations
  • Applications of voyage estimates

Laytime calculations

  • Relevance of charterparties
  • Time sheets
  • Preparation of timesheets
  • Statement of facts
  • Applications and practical value of laytime calculations

Dry Cargo Chartering

  • Key features of dry cargo chartering operations
  • Types of ships and ship specifications
  • Vessel utilisation
  • Dry bulk cargo fleet and specifications
  • Types of dry bulk cargoes
  • Transport considerations of different types of dry cargo
  • Ports and key characteristics
  • Exporters and importers

Tanker Chartering

  • Differences between dry cargo chartering and tanker chartering
  • Sale and purchase activities
  • Role and contributions of charterparties
  • Elements of different contracts relating to tanker chartering
  • Characteristics of tanker chartering market
  • Factors affecting the operations of the market

Recommended Reading

Main Text:

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Shipbroking and Chartering Practice  - Gorton, Hillenius & Sadervam (Lloyd’s of London Press)

Indicative Text:

Alternative Text and Further Reading:

Sea Trading Vol. 3 W.V. Packard (Fairplay)

Bulk Carrier Practice Capt. J. Isbester (Nautical Institute)

Lloyd’s List