p.1
Charter Party Contracts
What is the focus of Week 5 in the chartering process?
Time and voyage economics of the dry seaborne trade.
p.3
Roles of Ship Owners, Charterers, and Shipbrokers
Who are the three principal parties involved in chartering?
Ship Owners, Charterers, and Shipbrokers.
p.54
Voyage Estimating and Time Charter Equivalent (TCE)
What data is needed to carry out the exercise?
The same data provided for the vessel and cargo.
p.5
Commission Structures in Chartering
What is the typical percentage range for commission payable by the ship owner to the charterer?
Usually 1.25% or 2.5% of the freight or hire.
p.18
Charter Party Contracts
What type of contract is used for a Voyage Charter?
Specific contract or Charter Party.
p.3
Roles of Ship Owners, Charterers, and Shipbrokers
What is the role of Shipbrokers in the chartering process?
They act as intermediaries between Ship Owners and Charterers.
p.15
Charter Party Contracts
What is the delivery location for the Canfornav account?
APS Long View or DOP Yokohama.
p.26
Laytime and Demurrage Concepts
What causes delays in cargo operations at load or discharge ports?
Non-readiness of cargo/documents or not fulfilling procedures.
p.25
Deadfreight and Its Implications
How is the unused space or deadweight capacity regarded in terms of freight?
It is regarded as being 'dead' or lost, but freight is still due.
p.33
Cargo Measurement Techniques and Procedures
What is a draft survey?
A calculation of the weight of cargo loaded or unloaded from a ship based on changes in its displacement.
p.46
Deadfreight and Its Implications
What are some deductions from the summer deadweight?
Fuel, fuel reserves, freshwater, and stores.
p.36
Voyage Estimating and Time Charter Equivalent (TCE)
Why is TCE important for companies?
It allows for performance comparison with market and competitors.
p.15
Charter Party Contracts
What is the redelivery location for the Canfornav account?
DOP last outward Pilot St Lawrence.
p.26
Laytime and Demurrage Concepts
When does detention usually apply?
When Customary Quick Despatch (CQD) terms are used.
p.26
Laytime and Demurrage Concepts
What happens if the charterer utilizes the vessel for less time than the laytime allowed?
The charter party may require the ship owner to pay despatch for the time saved.
p.5
Commission Structures in Chartering
What is brokers commission?
Commission payable to the broker who arranges the vessel for the charterer or the cargo for the owner.
p.35
Voyage Estimating and Time Charter Equivalent (TCE)
What is voyage estimating?
The means to determine the return for any potential voyage on a voyage charter after deducting running costs and other expenses from freight revenue.
p.18
Charter Party Contracts
What does the shipowner promise to the charterers?
To make the ship and crew available to carry an agreed cargo on an agreed voyage in exchange for freight payment.
p.33
Cargo Measurement Techniques and Procedures
For what type of commodities is the Shore Scale Calculation more common?
More valuable commodities like grain and chrome ore.
p.35
Voyage Estimating and Time Charter Equivalent (TCE)
How is Time Charter Equivalent (TCE) calculated?
By taking voyage revenues, subtracting voyage expenses, and then dividing the total by the round-trip voyage duration in days.
p.4
Roles of Ship Owners, Charterers, and Shipbrokers
In what way can shipbrokers influence decisions of the principal parties?
By providing market and professional advice.
p.34
Charter Party Contracts
What is the primary focus of SB Week 5 - Lesson SDUTT 34?
The content of the lesson is not specified.
p.26
Laytime and Demurrage Concepts
What is despatch in relation to detention?
Despatch is the reverse of demurrage.
p.33
Cargo Measurement Techniques and Procedures
Who standardizes the draft survey procedure for measuring coal cargoes?
The United Nations Economic Commission for Europe.
p.10
Operational Costs and Revenue Calculations
What is meant by 'qty range' in the context of bunkers?
It refers to the minimum and maximum quantities with which the owners will deliver the vessel.
p.36
Voyage Estimating and Time Charter Equivalent (TCE)
How often should earnings be translated into TCE?
Periodically, as determined by the company’s policy.
p.24
Laytime and Demurrage Concepts
What is laytime?
The period of time allowed by a ship-owner to a carrier to carry out cargo loading or discharging operations.
p.42
Charter Party Contracts
What is the first step in offering a ship for a voyage charter?
Entering into a voyage charter contract.
p.42
Factors Influencing Chartering Decisions
What is an important aspect to consider when offering a ship for a voyage charter?
Calculating the profitability.
p.2
Time Charter Definition and Responsibilities
What costs does the charterer pay for in a time charter?
Fuel, port charges, commissions, and a daily hire to the owner.
p.27
Laytime and Demurrage Concepts
What is required for a ship to be considered 'always available' at load and discharge ports?
The ship must be ready to load or discharge at all times.
p.23
Time Charter Definition and Responsibilities
What must a vessel do to be considered ready for chartering?
Finish her passage to the port and tender herself ready.
p.38
Cargo Measurement Techniques and Procedures
What is the hatch type of the M.V. Alam Seri?
Weathertight ends folding type.
p.15
Operational Costs and Revenue Calculations
What is the bunkering requirement for the Canfornav account?
FO 300-350 and MDO 100-125.
p.54
Factors Influencing Chartering Decisions
What is the significance of the Cape route in maritime voyages?
It is a common route for vessels traveling between the Atlantic and Indian Oceans.
p.5
Commission Structures in Chartering
What is the commission payable by the ship owner to the charterer expressed as?
As a percentage of the freight or hire.
p.46
Factors Influencing Chartering Decisions
Why is strategic planning important in choosing a bunkering port?
To maximize cargo lifting and improve the bottom line.
p.36
Voyage Estimating and Time Charter Equivalent (TCE)
How does TCE assist in decision making?
It helps compare different voyage options or between voyage and time charter.
p.42
Charter Party Contracts
What type of form is used for a voyage charter?
Specific Voyage Charter contract form.
p.37
Operational Costs and Revenue Calculations
What are variable costs in shipping?
Costs incurred directly due to the commercial employment of the ships, such as port costs and bunkers.
p.22
Commission Structures in Chartering
What does 'Liner In & Free Out' imply?
Owner bears loading cost but not discharge cost.
p.22
Commission Structures in Chartering
What does 'Free In Liner Out' indicate?
Owner bears discharge cost but not loading cost.
p.2
Charter Party Contracts
What is a charter party?
The contract between the owner of a vessel and the charterer for the use of a vessel.
p.43
Voyage Estimating and Time Charter Equivalent (TCE)
What is the starting point of a voyage?
The last discharge port on the previous voyage.
p.23
Laytime and Demurrage Concepts
Why is the acceptance of NOR considered a formality?
If tendered in accordance with the charter party terms.
p.44
Laytime and Demurrage Concepts
What is done to calculate the actual port stay at the discharge port?
Increase the full laytime by 30% due to SHEX provision.
p.21
Charter Party Contracts
What is a freight rate?
The charge for transporting goods by sea.
p.3
Roles of Ship Owners, Charterers, and Shipbrokers
What role do Charterers play in the chartering process?
They are cargo owners or vessel operators.
p.7
Charter Party Contracts
What does 'delivery range' refer to in chartering?
Geographical delivery range.
p.54
Operational Costs and Revenue Calculations
What type of calculations might be performed in this exercise?
Calculations related to voyage costs, time, and charter equivalent.
p.5
Commission Structures in Chartering
Who pays the commission in chartering agreements?
The party earning freight, dead freight, or demurrage.
p.46
Deadfreight and Its Implications
What does 'summer deadweight' refer to?
The maximum weight a ship can carry when fully loaded in summer conditions.
p.10
Operational Costs and Revenue Calculations
Who typically pays for the On Off Hire Survey?
The costs can be either paid by one party or shared between the owner and charterer.
p.6
Charter Party Contracts
What is the second consideration when chartering a ship?
How long you need the ship.
p.4
Roles of Ship Owners, Charterers, and Shipbrokers
What is one of the primary roles of a shipbroker?
Assisting ship owners and charterers to find vessels and cargoes.
p.29
Charter Party Contracts
Where is the loading port specified in the order?
1-2SB PORT GILES, SOUTH AUSSIE.
p.13
Charter Party Contracts
What is the estimated duration of the trip?
About 35 days, weather permitting.
p.2
Time Charter Definition and Responsibilities
Who selects the ports and directs the vessel in a time charter?
The charterer selects the ports and directs the vessel.
p.43
Laytime and Demurrage Concepts
What does 'meeting laycan' refer to?
The timeframe in which a vessel must arrive at the loading port.
p.2
Time Charter Definition and Responsibilities
What are the two ways a charterer can take over a vessel?
For a certain period of time (time charter) or for consecutive voyages.
p.17
Charter Party Contracts
What is the next step if a fixture is not achieved?
Perform a voyage without a charter agreement.
p.23
Time Charter Definition and Responsibilities
What are the three conditions that must be met for a vessel to become an 'arrived ship'?
1. Finish passage and tender ready, 2. Be operationally and compliance-wise ready, 3. Be available to the charterers at the nominated place.
p.44
Operational Costs and Revenue Calculations
What is the fuel consumption for a vessel passing through the Suez Canal?
10 metric tons of fuel and 2 metric tons of diesel.
p.21
Laytime and Demurrage Concepts
What is meant by 'time required to lift subjects'?
The time needed to complete loading or unloading operations.
p.8
Charter Party Contracts
What is an example of a specific trading area?
From Japan to the Arabian Gulf, not west of Suez.
p.54
Voyage Estimating and Time Charter Equivalent (TCE)
What is the route assumed for the voyage in this exercise?
Going round the Cape, around South Africa.
p.26
Laytime and Demurrage Concepts
What is the customary rate for despatch compared to demurrage?
Despatch is usually half the rate of demurrage.
p.5
Commission Structures in Chartering
What is the commission range for brokers?
Ranges from 1.25% to 2.5%.
p.35
Voyage Estimating and Time Charter Equivalent (TCE)
What does voyage estimating provide for the ship owner?
It gives the breakeven cost beyond which he negotiates a freight rate for the cargo on the voyage.
p.24
Laytime and Demurrage Concepts
What happens when the charterer remains in possession of the vessel after laytime has expired?
They incur demurrage charges.
p.24
Laytime and Demurrage Concepts
What does 'once on demurrage, always on demurrage' imply?
It indicates that once a charterer incurs demurrage, they will continue to be liable for it until the situation is resolved.
p.4
Roles of Ship Owners, Charterers, and Shipbrokers
How do shipbrokers act between the principal parties?
As a witness and channel of exchanges.
p.9
Vessel Type & Specifications
Why is the size of a vessel significant?
It determines the cargo capacity and suitability for specific ports.
p.17
Charter Party Contracts
What is the purpose of a preliminary discussion in chartering?
To outline the main terms before negotiations.
p.43
Operational Costs and Revenue Calculations
What must be included in the fuel requirement for a voyage?
Fuel requirement including reserves.
p.9
Vessel Type & Specifications
What are specific points to consider for DG cargo?
Special handling and safety requirements for dangerous goods.
p.11
Charter Party Contracts
What is typically a fixed amount in charter agreements?
Monthly charges for victualling, entertainment, and communication.
p.11
Charter Party Contracts
What is the payment condition for ILOHC?
A fixed amount unless the cargo is very dirty.
p.44
Laytime and Demurrage Concepts
What factors give an indication of the expected port stay at each port?
Load and discharge rates.
p.21
Laytime and Demurrage Concepts
What is demurrage?
A charge for exceeding the agreed laytime for loading or unloading.
p.8
Factors Influencing Chartering Decisions
What market condition can dictate the delivery port?
A strong owners market can lead to the port being dictated by the owner.
p.8
Charter Party Contracts
How does the trading area vary?
It varies case to case, with longer charters having a broader trading area and shorter charters being more specific.
p.16
Charter Party Contracts
What is the size range of the container ships preferred by NCL International Logistics?
Around 600-1000 TEU, preferably about 500 TEU/14 tons.
p.45
Factors Influencing Chartering Decisions
How do you calculate the maximum loadable weight of a ship?
By determining limiting factors such as load line zones or drafts.
p.45
Operational Costs and Revenue Calculations
What is the formula to calculate weight based on grain space?
Divide grain space by the specific factor (SF), e.g., 40031M3 / 1.2 = 33359 Mt.
p.28
Laytime and Demurrage Concepts
What is the significance of 'End of Laytime'?
It marks the conclusion of the agreed laytime period.
p.25
Deadfreight and Its Implications
What is deadfreight?
Deadfreight is payable on cargo agreed by charterers to be shipped but not actually shipped.
p.25
Deadfreight and Its Implications
What happens if charterers fail to ship the quantity of cargo declared by the master?
The compensation for the quantity of cargo 'short shipped' is called deadfreight.
p.18
Charter Party Contracts
What additional contracts does the shipowner agree to enter into at the request of the charterers?
Bills of lading with separate parties (shippers, receivers, etc.).
p.36
Voyage Estimating and Time Charter Equivalent (TCE)
What does Time Charter Equivalent (TCE) represent?
An average daily earning for the entire period of the charter.
p.35
Voyage Estimating and Time Charter Equivalent (TCE)
What is the purpose of calculating TCE?
To assess the average daily revenue performance of a vessel.
p.19
Charter Party Contracts
What is the significance of 'quantity & tolerance' in cargo contracts?
It indicates the amount of cargo, e.g., '50,000 mt' with a tolerance of '10% MOLOO or MOLCO'.
p.22
Commission Structures in Chartering
What does 'Free In & Out' mean?
Carrier/Owner does not bear the cost of loading or discharging.
p.17
Charter Party Contracts
What happens after the main terms are fixed?
A recap is prepared on the subjects discussed.
p.37
Voyage Estimating and Time Charter Equivalent (TCE)
What does B represent in the TCE formula?
Directly related trade costs.
p.2
Charter Party Contracts
Are there standardized forms for charter party contracts?
Yes, there are many widely used forms for charter party contracts.
p.11
Charter Party Contracts
What is a common payment schedule for charter hire?
Every 15 days in advance.
p.11
Charter Party Contracts
What does ILOHC stand for?
In Lieu of Hold Cleaning.
p.11
Commission Structures in Chartering
What is an address commission?
A commission paid to the broker for their services in arranging the charter.
p.8
Charter Party Contracts
What does the delivery range refer to in chartering?
The geographical area where a vessel can be delivered, which varies case to case.
p.21
Charter Party Contracts
What is a charterer's proforma CP?
A preliminary charter party agreement outlining terms.
p.45
Factors Influencing Chartering Decisions
What does the limiting factor for a ship's load depend on?
Summer deadweight and draft.
p.20
Charter Party Contracts
What are freight terms?
Conditions under which freight charges are calculated and paid.
p.3
Roles of Ship Owners, Charterers, and Shipbrokers
What are the two categories of parties involved in chartering?
Principals and Intermediaries.
p.25
Deadfreight and Its Implications
Who is responsible for declaring the maximum quantity of cargo a vessel can load?
The master of the vessel.
p.33
Cargo Measurement Techniques and Procedures
What is the Shore Scale Calculation used for?
Calculating cargo based on readings at the shore conveyor.
p.10
Operational Costs and Revenue Calculations
What determines the price of bunkers?
The price is often referenced as per Singapore MOP on the day of delivery.
p.42
Time Charter Definition and Responsibilities
What is the first step in taking a ship on Time Charter?
Entering into a Time charter contract.
p.24
Laytime and Demurrage Concepts
What is demurrage?
Charges that the charterer pays to the ship owner for extra use of the vessel, a form of liquidated damages for breaching the laytime.
p.13
Charter Party Contracts
What is the delivery location specified?
USWC, specifically Longview.
p.2
Time Charter Definition and Responsibilities
What is a time charter?
The hiring of a vessel for a specific period of time.
p.2
Time Charter Definition and Responsibilities
Who manages the vessel in a time charter?
The owner manages the vessel technically.
p.27
Laytime and Demurrage Concepts
What is 'Turn Time' in shipping?
The time taken for a ship to complete loading or unloading operations.
p.9
Vessel Type & Specifications
What does age restriction refer to in vessel specifications?
Limitations on the age of the vessel for certain charters or operations.
p.17
Charter Party Contracts
What should be prepared after clean fixed negotiations?
The Charter Party (CP) document.
p.9
Vessel Type & Specifications
What is a reefer in vessel specifications?
A vessel designed for transporting refrigerated cargo.
p.11
Roles of Ship Owners, Charterers, and Shipbrokers
What is the role of the charterer's representative on board?
To oversee operations and ensure compliance with the charter agreement.
p.44
Laytime and Demurrage Concepts
What is the effect of a faster loading rate at the load port?
Despatch is present due to faster loading.
p.21
Laytime and Demurrage Concepts
What is the difference between SHINC and SHEX?
SHEX stands for Sundays and Holidays Excluded.
p.8
Charter Party Contracts
How does the delivery range differ between longer and shorter charters?
Longer charters may have a wider delivery range, while shorter charters often have a specific port.
p.8
Charter Party Contracts
What does a worldwide trading area imply?
In some cases, it allows for a broader range of trading locations.
p.28
Laytime and Demurrage Concepts
What does SHEX mean regarding laytime?
Sundays and Holidays excluded unless used.
p.28
Laytime and Demurrage Concepts
What does SHEX UU indicate?
Sundays and Holidays excluded, unless used; if used, actual time is counted.
p.32
Charter Party Contracts
When is the deadline for reply to the offer?
By 1700 hrs on 5th January 2018.
p.7
Charter Party Contracts
What is the typical duration for a trip charter?
30-45 days with a 5-day range.
p.46
Deadfreight and Its Implications
What is meant by 'loadable quantity' in shipping?
The total weight of cargo that can be loaded, minus certain deductions.
p.10
Operational Costs and Revenue Calculations
What are bunkers on delivery and redelivery?
They refer to the fuel quantities delivered to and from a vessel.
p.10
Operational Costs and Revenue Calculations
What is an On Off Hire Survey?
It is a survey conducted to assess the condition of the vessel at the start and end of a charter.
p.42
Charter Party Contracts
What type of contract form is used for Time Charter?
Specific Time Charter contract form.
p.6
Charter Party Contracts
What is the sixth consideration when chartering a ship?
Which Contract or Charter Party to be used.
p.29
Charter Party Contracts
What are the discharge ports listed in the order?
1-2SB COCHIN AND/OR 1-2SB NEW MANGALORE.
p.29
Charter Party Contracts
What is the discharge rate specified in the order?
3,000MT PWWD SSHEX FRI5PM-MDY8AM NTC EIU.
p.27
Laytime and Demurrage Concepts
What does 'Non-reversible Laytime' mean?
Laytime that can only be used for either loading or unloading, not both.
p.17
Charter Party Contracts
What occurs if subjects fail during negotiations?
There may be no fixture, meaning no agreement is reached.
p.11
Charter Party Contracts
What does VEP stand for in chartering?
Victualling, Entertainment, Communication.
p.21
Charter Party Contracts
What is the significance of shipper and receiver acceptance?
It ensures that the cargo meets the agreed specifications.
p.41
Commission Structures in Chartering
What is the commission percentage mentioned in the charter party?
Total 5% including 2.5% ADCOM.
p.28
Laytime and Demurrage Concepts
What does SHINC stand for in laytime terms?
Sundays and Holidays Inclusive.
p.28
Laytime and Demurrage Concepts
What is the implication of SHEX EIU?
Sundays and Holidays excluded even if used.
p.32
Commission Structures in Chartering
What is the additional commission structure mentioned?
2.5% + 1.25% Probulk (add 1.25% for another broker).
p.39
Operational Costs and Revenue Calculations
What is the laden speed consumption?
Abt 13.6k on abt 23.0 mt IFO for ME + 1.4 MT IFO + 0.2 MT MDO / day.
p.20
Charter Party Contracts
What does LILO mean?
Liner In and Liner Out, indicating that the shipowner covers loading and unloading costs.
p.14
Operational Costs and Revenue Calculations
What is the fuel consumption of MV DUBAI FAITH in port while idle?
ABT 2.5MT IFO + 0.5 MT MGO.
p.30
Laytime and Demurrage Concepts
What does LAYCAN stand for?
Laydays and Cancelling dates.
p.19
Charter Party Contracts
What is meant by 'load port'?
The port where the cargo is loaded onto the vessel.
p.4
Charter Party Contracts
What types of documents do shipbrokers draw up?
Chartering documents such as fixture recaps and charter parties.
p.9
Vessel Type & Specifications
What is the importance of cranes in vessel specifications?
To determine if they are required for loading and unloading cargo.
p.4
Roles of Ship Owners, Charterers, and Shipbrokers
What is expected of shipbrokers in their professional conduct?
They must conduct themselves professionally.
p.43
Factors Influencing Chartering Decisions
What factors are taken into consideration for a voyage?
Ship’s capacity & deadweight, steaming distances, reference point, period waiting, and compatibility of cargo with cargo gear & history.
p.44
Voyage Estimating and Time Charter Equivalent (TCE)
What can be calculated using the vessel's speed?
Steaming times and fuel consumed.
p.23
Roles of Ship Owners, Charterers, and Shipbrokers
What technology is mentioned as being used in the context of vessel readiness?
Use of AIS (Automatic Identification System).
p.41
Laytime and Demurrage Concepts
What is the demurrage rate specified in the charter party?
7000 USD per day or half despatch at saved bends.
p.8
Charter Party Contracts
What are DOP and APS in the context of delivery?
DOP stands for 'Delivered on Place' and APS stands for 'Arrived at Place'.
p.16
Charter Party Contracts
What type of container ships does NCL International Logistics prefer?
Gearless container ships.
p.40
Laytime and Demurrage Concepts
What is the loading rate for this shipment?
5,000 MT per weather working day (SHINC).
p.20
Charter Party Contracts
What does 'vessel type' refer to?
The classification of a ship based on its design and purpose.
p.10
Operational Costs and Revenue Calculations
What does 'Mean of Platts' refer to?
It is a pricing reference used for determining bunker prices.
p.19
Charter Party Contracts
What does 'cargo description' refer to in shipping?
It specifies the type of cargo, such as 'thermal coal in bulk - Non Haz'.
p.30
Laytime and Demurrage Concepts
Is the laytime reversible?
No, it is not reversible.
p.37
Operational Costs and Revenue Calculations
What are fixed costs in shipping?
Costs incurred irrespective of the commercial employment of the ships, such as OPEX and capital costs.
p.27
Laytime and Demurrage Concepts
What is the significance of 'Commencement of Laytime'?
It specifies when laytime will commence.
p.4
Roles of Ship Owners, Charterers, and Shipbrokers
What role do shipbrokers play in dispute resolution?
They help resolve disputes and are deemed a neutral party if only one broker is involved.
p.22
Commission Structures in Chartering
What is the implication of 'Liner in Liner Out'?
Owner bears both loading and discharge costs.
p.9
Vessel Type & Specifications
What is flag restriction in the context of vessels?
Regulations regarding the nationality of the vessel's registration.
p.43
Voyage Estimating and Time Charter Equivalent (TCE)
Where does the voyage end in this context?
On departure from Silvertown.
p.11
Commission Structures in Chartering
What are commissions in the context of chartering?
Fees paid to brokers for facilitating the charter agreement.
p.41
Cargo Measurement Techniques and Procedures
What must the master issue before loading?
Only clean M/R and B/L; damaged cargo, if any, must be rejected prior to loading.
p.21
Charter Party Contracts
Why is law and jurisdiction important in chartering?
It determines the legal framework for resolving disputes.
p.45
Operational Costs and Revenue Calculations
What does an adequate space calculation indicate?
That the ship can lift the entire cargo in terms of weight.
p.39
Operational Costs and Revenue Calculations
What is the idle consumption rate?
Abt 2.3 mt IFO + abt 0.2 mt MDO / day.
p.20
Charter Party Contracts
What do SHINC, SHEX, and SHEXUU stand for?
SHINC: Sundays and Holidays Included; SHEX: Sundays and Holidays Excluded; SHEXUU: Sundays and Holidays Excluded with specific conditions.
p.31
Charter Party Contracts
What is the cargo and quantity proposed for the account xxxxx trading pte ltd?
25,000mt ±10% moloo bagged cement in sling and/or jumbo bag.
p.24
Laytime and Demurrage Concepts
What should be indicated regarding load or discharge operations?
The load or discharge rate.
p.19
Laytime and Demurrage Concepts
What does 'laycan' mean in shipping terms?
It refers to the window of arrival at the loading port.
p.22
Commission Structures in Chartering
Which freight option has the highest cost?
Owner bears both loading and discharge costs.
p.29
Charter Party Contracts
What is the loading rate mentioned in the order?
5 WWDAYS SSHEX (GTA TERMS).
p.37
Voyage Estimating and Time Charter Equivalent (TCE)
How is TCE calculated?
TCE = (A - B) / C, where A is gross trade revenues, B is directly related trade costs, and C is employment days.
p.27
Laytime and Demurrage Concepts
What is 'Reversible Laytime'?
Laytime that can be used for both loading and unloading.
p.4
Commission Structures in Chartering
How do shipbrokers earn their commissions?
On a percentage of total gross payments paid to and received by a vessel they fixed.
p.43
Laytime and Demurrage Concepts
What should be considered regarding the period waiting for the next employment?
It should be included in the current voyage.
p.44
Voyage Estimating and Time Charter Equivalent (TCE)
How can distances between ports be obtained?
By using nautical charts or distance calculators.
p.23
Laytime and Demurrage Concepts
What is the significance of NOR in Time and Voyage charter?
It is the trigger point for the commencement of the Time Charter or Laytime.
p.21
Laytime and Demurrage Concepts
What does SHINC stand for in chartering terms?
Sundays and Holidays Included.
p.41
Charter Party Contracts
What is the payment term for freight in this charter party?
100% freight payable in US dollars within 3 banking days after completion of loading and signing and releasing B/L to owners' nominated bank account.
p.8
Commission Structures in Chartering
What is a ballast bonus?
A bonus that may be reflected in the rate for transporting a vessel in ballast condition.
p.16
Charter Party Contracts
How many reefers does NCL International Logistics prefer in their container ships?
A minimum of about 30-50 reefers.
p.32
Charter Party Contracts
What is the cargo and quantity offered?
25,000mt ±10% moloo bagged cement in sling and/or jumbo bag.
p.32
Charter Party Contracts
What is the freight rate offered?
USD 9.50 first basis 1/1, with an additional USD 1.50 for the second port.
p.39
Charter Party Contracts
What is the charter hire rate mentioned?
USD 6000 less 2.5% adcom.
p.40
Laytime and Demurrage Concepts
What is the discharging rate for this shipment?
3,000 MT per weather working day (SHEX).
p.20
Charter Party Contracts
What is meant by loading rate and terms?
The speed and conditions under which cargo is loaded onto a vessel.
p.9
Vessel Type & Specifications
What does speed and consumption refer to in vessel specifications?
The speed at which the vessel can travel and the fuel it consumes.
p.13
Commission Structures in Chartering
What is the commission rate mentioned?
5%, including 3.75% additional.
p.17
Charter Party Contracts
What does it mean when subjects are lifted?
It indicates that the conditions have been agreed upon and are no longer negotiable.
p.27
Laytime and Demurrage Concepts
When does laytime commence for an 'Arrived Ship'?
At each load port or only the first load port.
p.11
Charter Party Contracts
What is the Charter Hire rate?
The rate charged for the hire of a vessel.
p.21
Cargo Measurement Techniques and Procedures
What does the term 'cargo stem' refer to?
The list of cargoes to be loaded or discharged.
p.41
Charter Party Contracts
What is the requirement for the charterers' Letter of Indemnity (LOI)?
Charterers' LOI in standard P&I wording must be available in case original BLs are not produced at the time of discharge.
p.16
Charter Party Contracts
What is the laycan period for the container ship order?
3rd week of January 2023.
p.32
Laytime and Demurrage Concepts
What is the laycan period for the offered cargo?
9th - 17th February 2019, to be narrowed to a 5-day spread on/before 1st February 2019 by the charterer.
p.39
Operational Costs and Revenue Calculations
What is the bunker grade for IFO and MDO?
ISO 8217:2010 Category RMG 380 for IFO and DMA for MDO.
p.20
Charter Party Contracts
What do age or flag restrictions imply?
Limitations on the age of the vessel or the nationality of its flag for chartering.
p.31
Charter Party Contracts
What is the discharge port for the cargo?
1 SBP Mariveles, Philippines.
p.41
Roles of Ship Owners, Charterers, and Shipbrokers
What is required from the charterers' agents regarding bends?
Charterers' agents bends are subject to competitive daily rates.
p.16
Charter Party Contracts
What is the period for the container ship charter?
3 months +/- 15 days inchopt.
p.28
Laytime and Demurrage Concepts
How are delays due to documentation treated in laytime?
They can affect the calculation of laytime.
p.20
Charter Party Contracts
What does FIO stand for?
Free In and Out, meaning the shipowner is not responsible for loading and unloading costs.
p.16
Commission Structures in Chartering
What is the commission rate for the container ship order?
1.25% to Navis + possible additional commission.
p.39
Operational Costs and Revenue Calculations
What is the port consumption when working 24 hours?
Abt 4.6 mt IFO + abt 0.3 mt MDO / day.
p.20
Charter Party Contracts
What is meant by 'discharging port'?
The port where cargo is unloaded from a vessel.
p.12
Charter Party Contracts
What is required for shipper's and receiver's acceptance?
Shippers receivers acceptance.
p.31
Roles of Ship Owners, Charterers, and Shipbrokers
What are the vessel requirements for this cargo?
Max 15 years old + min 4 x 25mt cranes in full working condition.
p.39
Operational Costs and Revenue Calculations
What is the ballast consumption in good weather conditions?
Abt 14.2 k on abt 23.0 mt IFO for ME + 1.4 MT IFO + 0.2 MT MDO / day.
p.40
Charter Party Contracts
What is the discharging port for this shipment?
Silvertown Refinery, London.
p.20
Charter Party Contracts
What is the difference between geared and gearless vessels?
Geared vessels have onboard cranes for loading/unloading, while gearless vessels require shore-based equipment.
p.12
Charter Party Contracts
What form should be used for the charter party?
Charter party form to use.
p.31
Roles of Ship Owners, Charterers, and Shipbrokers
What condition must the vessel's holds/hatches meet?
Clear and unobstructed without any center line beam or bulkhead, fittings or obstructions in holds, fully suitable for load/discharge.
p.31
Charter Party Contracts
What is the laycan period for the proposed cargo?
7th - 15th February 2019, to be narrowed to a 5-day laycan spread on/before 1st February 2019 by charterer.
