Time Charters Masterclass Online
- Online, 13:00 UTC
- 05 Feb 2024 5 days
- Available seats -2
-
Payment:
Course price
| BIMCO member | EUR 1320 |
| Non-member | EUR 1750 |
Discounts
10% group discount is available for registering 3 or more participants from the same company.
Overview
Time Charters Masterclass Online is a series of 10 online sessions delivered over 5 days. Each day will run for 120 minutes with a short break in between and will cover essential time chartering issues.
What will you learn?
Time charters is a complex business. The shipowners give the time charterers substantial control over the commercial operation of the vessel in exchange for the regular payment of hire.
Under time charter, shipowners rely heavily on the financial standing of the charterers both in relation to the payment of hire and in relation to the indemnity, which the charterers have promised should the shipowners suffer any costs, damage, losses or liability as a result of carrying out the charterers’ orders. Similarly, the charterers rely heavily on the shipowners’ ability to provide them with the agreed service throughout the charter period as they will be entering into sub-contracts with third parties in reliance on such ability.
The aim of this course is to highlight the various problem areas and to consider ways in which parties attempt to allocate risk and so provide you with a balanced understanding of the relevant legal principles and practice.
Dates and Topics
| Day | Session | Topic | Speaker |
| Monday 5 February |
1 |
The inter-relationship between contracts • Overview of the inter-relationship between the contract of sale, the charter party, the bill of lading and the insurance certificate |
Mike Phillips |
| 2 |
Time charter duration and payment of hire
• What is an illegitimate last voyage? |
||
|
Tuesday 6 February |
3 | Off-hire clauses • General principles • The difference between “period” and “time lost” • The effect of specific provisions • The effect of adding “whatsoever” |
Baris Soyer |
| 4 |
The duty to comply with legitimate employment orders
• What constitutes a valid employment order? (Conflicting requirements!) |
||
| Wednesday 7 February | 5 | Performance claims • Remedies available to the charterer in cases where the vessel under-performs • The effect of tolerances • “without guarantee” • “good weather” • Damages for deficient performance • Proving a loss? • Off-hire as a remedy for under-performance • Slow steaming |
Mike Phillips |
| 6 | The operational costs for which the charterers are responsible • For which charter operations and expenses are the charterers responsible? • The differences between a voyage charter and a time charter in relation to such responsibility • Bunkers and the impact of IMO2020 • The loading, stowage, discharge etc., of the carg • Who is responsible for these operations? • The effect of amended clauses • The effect of the NYPE Inter-Club Agreement |
||
| Thursday 8 February | 7 | The duty to provide bills of lading and LOIs • The importance to the charterer of obtaining bills of lading • Who has the right to determine the form of the bill of lading? • Time charter employment orders that conflict with the bill of lading. • Examples of unenforceable LOIs |
Mike Phillips |
| 8 | The duty to provide a seaworthy ship and to care for the cargo • What is unseaworthiness? • The nature of the shipowner’s duty •The effect of the Hague/Hague-Visby Rules on these duties • The employment clause •“Implied indemnities” |
Baris Soyer | |
|
Friday 9 February |
9 | The duty not to ship dangerous goods and trade between safe ports • What is “dangerous”? • What is the nature of the duty? • Is the charterer entitled to limit its liability? • What is a safe port? • When is a port to be safe? • What is the charterer’s obligation if a safe port becomes unsafe? |
Baris Soyer |
| 10 | Liens • Types of Liens • Practical challenges in enforcing Liens • Lien clauses - how do they work? • Alternative remedies (direct demand of freight from charterer) |
Starting time (for sessions on 5-9 February 2024):
13:00 UTC
14:00 CEST
See the time in your local time zone.
What do participants say about the course?
“The choice of the trainer was spot on to turn a quite dry material into a very accessible course. The training was focused on some of the greater "pain" factors in the industry and was very practical. Highly recommendable.” (Time Charters Masterclass participant, Sept 2020)
“The course has made me think differently about issues and disputes I currently face.” (Time Charters Masterclass participant, Sept 2020)How will this course help your professional development?
This course will assist you in identifying the potential challenges in advance and enable you to ask the right questions to the parties involved, thereby helping you to understand and explain your own risks and exposures.
After the course, you will have a have a much deeper understanding of the fundamental functions of charter parties and how they fit into commercial shipping operations. You will be able to discuss legal issues with your superiors, P&I clubs or legal counsels.
This course is targeted for shipping professionals who are relatively new to commercial shipping or those working in shipping operation, chartering or law, who require refreshers on TC.Course certification
Participants will be given an option of taking a final assessment (1-hour open-book test) at the end of the course, and Certificate of Achievement will be issued with a grade (distinction, merit or pass). Those not taking the assessment will receive a Certificate of Attendance.
Course materials
BIMCO issues electronic course files as an Adobe PDF file enabling you to make personal notes. All documentation and presentations will be in English. Course access details will be provided once the registration is completed.
You will also receive access to BIMCO's eLearning modules on "Time Chartering" and "NYPE 2015: Key changes and features".
Speakers
Mike Phillips
Baris Soyer
Organiser
Peter Grube
Ayako Odashima
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