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Learn how to reduce disputes and maximise charter profits


and case studies



31st January 2012

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Course Programme
1 2 3 4 5 6 Introduction and Context Defining Laytime Calculating Laytime Demurrage, Detention and Despatch Calculating Demurrage Laytime, Demurrage and Despatch in Practice
COURSE DIRECTOR: Katerina Konsta Dip Fin, BSc, MSc, PhD (cand)
Shipping Consultant, Cosmos Shipping SA




Charterers and chartering agents; brokers, traders and distribution managers Shipping company professionals in supply, operations and risk management Employees starting or moving into the shipping divisions of oil and bulk operators Ship owners, fleet managers, port and terminal supervisors Bankers, accountants and advisors involved in shipping finance Legal and insurance professionals dealing with commodity transportation issues Personnel in trading, distribution and logistics companies transporting goods by sea
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A clear explanation of the legal complexities around laytime and


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Practical guidelines on

Her extensive teaching experience has been gained at various colleges and universities. COURSE DIRECTOR Katerina Konsta Dip Fin. please visit the course website and click on the ‘About Distance Learning’ tab. DELIVERED BY Lloyd's Maritime Academy has for over 30 years provided training programmes for the maritime and transport industry.lloydsmaritimeacademy. Ltd Qatar Petrolium RasGas Company Ltd Ribex Maritime Safety First INC Saint-Gobain Pipeline (China) Sakhalin Shipping Company Scottishpower ST Shipping and Transport Stolt Nielsen Transportation Group Tergran Trade Line LLC Transammonia AG UN World Food Programme UPT United Product Tankers UTC Overseas Inc Vela International Marine Ltd Western Bulk Pte Ltd World Waves Shipping Co For more information tel: +44 (0)20 7017 4237 . STUDYING BY DISTANCE LEARNING WITH LLOYD'S MARITIME ACADEMY Katerina Konsta Course Director Shipping Consultant Enjoy the full benefits of studying within your current and evolving circumstances. allowing you to fit your education around your work and other commitments. maritime business and related subjects. logistics. Modules are released online one every two weeks over the 12 week duration of the course. she studied Business & Finance at North Hertfordshire College (UK). Your faculty members have years of academic and industry experience behind them. and it is this blend of essential theory with hands-on application which sets the programme apart. Online tests allow you to check your understanding of each of the six modules until the course ends on the 24th April which is the last day website access will be available. Prior to this. You can set the pace at which you learn – applying your newly acquired knowledge. A core of legal and contractual knowledge is complemented by current case studies written by highly experienced industry practitioners.Dear Colleague. bespoke training and distance learning courses. freight analysis and vessel sale and purchase. Your distance learning experience will be supported online by expert tutors. both wet and dry. Her area of research focuses on shipping policy and strategy. helping you navigate the intricacies of these clauses with confidence. www. using this freedom and flexibility to your advantage. on hand to guide you through the modules and answer your questions. Her postgraduate studies include International Shipping at the University of Plymouth (UK) and Maritime Studies with International Transport at the University of Piraeus (Greece). She is the author of articles and papers in a range of magazines and newspapers as well as being a reviewer for the Maritime Policy & Management Journal. These formal agreements contain clauses providing for the time allowed for loading and discharging cargo. Designed for newcomers to the field. Assessment is through online tests to check your understanding at the end of each module. Katerina is also a member of the International Association of Maritime Economists (IAME). BSc. skills and expertise to your work straightaway. A detailed understanding is required to maximise the profits of vessel owners and charterers. and the penalties to be paid if this time is exceeded. Lloyd's Maritime Academy enables career enhancement and progression regardless of work commitments or location. I very much look forward to welcoming you onto the course. as well as those wanting to refresh or formalise knowledge gained ‘on the job’. you receive a unique username and password to access the dedicated course website from wherever you have an internet connection. expert tutorial support and peer interaction via a dedicated online forum will deliver a thorough and practical understanding of laytime and demurrage. Transport and Logistics department at BCA College in Athens (Greece) which collaborates with London Metropolitan University (UK).com Lloyd's and the Lloyd's Crest are the registered trademarks of the Society incorporated by the Lloyd's Act 1871 by the name of "Lloyd's”. the course shows how to define and calculate laytime and demurrage. with step-by-step guides for both tanker and dry cargo charters. ports and terminals. The Certificate in Laytime and Demurrage gives a thorough introduction and detailed overview of the fundamental concepts and practices of these two critical clauses. Upon successful completion of all the tests you will be awarded a certificate of completion from Lloyd's Maritime Academy which may be used for CPD purposes. representing ship owners and charterers. For more information about how distance learning will work for you. Tutor support is provided via the online discussion board where students can also network with their peers. These two aspects of charterparties – laytime and demurrage – are critical in determining the financial outcome of voyages carrying cargoes. this certificate delivers the skills and knowledge you need to succeed in maritime trade. She is a respected participant in various shipping and logistics conferences and forums. Through face-to-face seminars. All tests must be completed by the end of the course. Women’s International Shipping & Trading Association (WISTA) and Hellenic Association of Maritime Economists (HAME). PhD (cand) Katerina was previously Head of the Shipping. The unique blend of downloadable study modules. Share experiences and exchange knowledge with your fellow students from around the world. legal. financial and insurance professionals. They can be downloaded as PDF files and you can save them to your computer as well as print them out to study whilst you’re on the move. You can download the course materials to study at a time which suits you. The expression ‘time is money’ is never more true than in the case of shipping charterparties. As a student. lecturing on undergraduate courses in shipping. She also has many years’ experience as an industry consultant. Katerina holds a degree in Maritime Business with Maritime Law from the University of Plymouth (UK). and to resolve the disputes which can arise. working in Greece and the UK on varied projects in national and international shipping and logistics. MSc. Starting with a firm foundation in key legal concepts and contractual practices. COMPANIES THAT HAVE ALREADY BENEFITED FROM LLOYD’S MARITIME ACADEMY CHARTERING PROGRAMMES INCLUDE: Alcotra SA Atlas Chemical Tankers AS Barry Rogliano Salles Belarusian Potash Company Belgo-Iberian Maritime NV Burrem Engergy Shipping Cargill International SA Carnival UK CSL International Devonia Shipping Donnelly Tanker Management Euro Enterprise Far Eastern Shipping Company Fayette International Holdings Gard AS GB Shipping & Chartering Havrico Insurance SA Intershipping Ltd Kineta Minerals & Metals Ltd Knock Tankers Ltd Kuwait Petroleum (KPC) Levant Oil International Lister Europe ltd Litasco M&C Chrysanthou Marine Services Ltd Malaysia Darul Jaya Maritax Law Office Marvel International Management and Transportation Co Mikael Lund Shipping National Shipping Corporation Navi Chartering Neste Shipping Oy Nigerian Oil Company Pakistan National Shipping Port Balchik SA PTSC Marine Co.

as the case may be” Dr Evi Plomaritou Shipping Consultant in Chartering and Marketing Laytime. flood.Rates of cargo . that provision or part-provision shall.dedicated staff providing required progress reporting To find out more about the benefits of Corporate Training and how distance learning can be a cost effective means of achieving your training goals. Diners Club or American Express.Despatch payable on “all time saved” Dr Evi Plomaritou Shipping Consultant in Chartering and Marketing Module Five • • • • • • • • • • INTERESTED IN A CORPORATE OR CUSTOMISED DELIVERY OF THIS COURSE? This course can be delivered directly to your company or organisation by distance learning or instructor led workshops whilst including a range of additional benefits to meet your specific business objectives: • Customised delivery . distribute. In addition. LMA shall not be responsible for any indirect losses which happen as a side effect of the main loss or damage and which are not foreseeable by LMA. PAYMENT You must pay to LMA the fees set out in the Application Form.Fixed . power or remedy shall operate as a waiver of the same. Registered in England No.Tanker charterparties . LMA’s total liability will only extend to the fees paid by you to LMA under the Demurrage and Despatch in Practice • Wet cargoes: case studies and practical examples . If a certificate of tax deduction is not provided within three months. 2. 3. BSc. PARTICIPANT CANCELLATION POLICY You may cancel your place on the Course by giving notice in writing to the Course Administrator up to (and including) 7 days from the date LMA confirms your acceptance to the Course in accordance with Condition 1 and you will not be liable for the payment of any fees and any fees already paid to LMA for the Course will be refunded.lloydsmaritimeacademy.lloydsmaritimeacademy. 11. subject to payment by you to LMA of a £175 cancellation fee to cover administrative costs (which shall be payable immediately upon your cancellation).“Sundays and Holidays Excepted” (SHEX) and “Weather Working Days” (WWD) .Types of charterparty • Legal framework • Key charterparty clauses . You may not reproduce. transmit.lloydsmaritimeacademy. within 30 days of the invoice being issued or by at least one week prior to the start of the Course. 12.“Sundays and Holidays Excepted Unless Used” (SHEX UU) and “Weather Working Days” (WWD) . 6. health scares or epidemics. MSc.Arrived ship . LMA regrets that no refunds can be given for any cancellation notice it receives on or after the first day of the Course and. 10. IIR Ltd. Telephone calls to IIR Ltd may be recorded or monitored to check the quality of the service provided Apply online at www. carefully selected external companies for marketing purposes.Despatch calculation • Dry cargoes: case studies and practical examples . London W1T 3JH. If you do not wish your details to be available to companies in the Informa Group. the full fees remain payable by you to LMA. transfer or attempt to assign the rights in or commercially exploit or use the Course Materials.Readiness . You may pay by (i) a cheque made payable to IIR Ltd. COURSE CANCELLATION.Timesheets • Multiple charters • Case studies and practical examples .com/ld . MSc.Time sheet Ioanna N.Despatch payable on “working time saved” . online tutoring. If you choose not to participate in any re-arranged Course or if LMA does not organise such a Course then you will (as your sole remedy) be entitled to receive either a credit note or a refund in respect of the fees received from you by LMA.Wet vs. Registered office: Mortimer House.Statement of facts .incorporating workshops. TAXES The fees stated are exclusive of any applicable VAT. to the extent required. 5. (ii) Visa. FORCE MAJEURE LMA shall not be deemed to be in breach of this Agreement or otherwise be liable to you as a result of any delay or failure to perform its obligations if and to the extent that such delay or failure is caused by a force majeure event (this means any event arising that is beyond the reasonable control of LMA. MasterCard. 7.Customary . UK. rent. Cosmos Shipping SA • • • Seminars Bills of Lading Masterclass November 2011 Ship Finance School November 2011 Background to Shipping November 2011 www.Shipowners’ clauses . Detention and Despatch Relevant fundamentals of contract law Demurrage Damages for detention Despatch Stoppage and termination of demurrage Deadfreight Liability for demurrage Practical examples . If the period of delay or non-performance continues for 3 months. nothing in this section 9 shall seek to limit or exclude LMA’s liability for: (i) death or personal injury resulting from negligence or (ii) fraud or fraudulent misrepresentation. email: integrity@iirltd. INTELLECTUAL PROPERTY LMA owns or is licensed all intellectual property rights in the Course and Course Materials. any non-material alteration to the Course or the scope of the Course) without liability. To the extent that LMA is liable for such TERMS AND CONDITIONS 1. or made available to. Where payment is subject to a withholding tax the student will apply the reduced rate under the appropriate double tax treaty. sub-license. any industrial dispute. The personal information shown on the application and/or provided by you. acts of terrorism or war). governmental regulations or action. No variation of this Agreement shall be effective unless made in writing signed by or on behalf of each of the Parties to this Agreement. Cosmos Shipping SA Module Three • Calculating Demurrage The effect of charterparty terms . 8.1835199. dry cargo • Interruptions and exceptions • Completion of laytime • Averaging and reversing laytime Katerina Konsta Dip Fin. telephone +44 (0)20 7017 4455 or email ct@informa. or (iii) bank transfer. resell. PhD (cand) Shipping Consultant. where applicable.Time sheets .“Time lost in waiting for berth to count as loading or discharging time.Notice or readiness . including but not limited to. in full and in cleared funds. 9. Pentheroudakis Managing Director. SEVERANCE If any provision of this Agreement (or any part of any provision) is found by a court or other authority of competent jurisdiction to be invalid. and agree to provide LMA with a certificate of tax deduction within three months of payment.Charterers’ clauses • Basic calculations • Time bar clauses • Termination of demurrage • Collecting demurrage and despatch • Balance payment clauses • Insurance Ioanna N. WAIVER No failure by either Party in exercising any right. For the avoidance of doubt.Voyage outcome . tutor. RE-SCHEDULING AND ALTERATIONS LMA reserves the right to cancel or change the dates of the Course. constitute the entire agreement between the Parties “Agreement”) in relation to the Course and that neither Party relies upon any oral or written representation made to it by the other Party. or (v) any other matter for which it would be illegal or unlawful for LMA to exclude or attempt to exclude its liability.Arbitration case study • Demurrage litigation • Charterparty negotiation simulation . will be held on a database and may be shared with companies in the Informa Group in the UK and internationally. VAT registration number GB 365 4626 36. Please note that non-payment of fees will result in the withholding of any Course materials due to be provided as part of the Course (“the Course Materials”) and LMA may charge you interest on any overdue fees at the rate of 2% per annum above National Westminster Bank Plc’s base lending rate from time to time.Demurrage calculation . without limitation. in such circumstances. Payment of any invoice must be received by LMA. (iii) any breach of LMA’s obligations implied by section 12 of the Sale of Goods Act 1979 or section 2 of the Supply of Services and Services Act 1982. venue damage or cancellation. (iv) any losses for which it is prohibited by section 7 of the Consumer Protection Act 1987 to limit liability. A binding contract between LMA and you will only be formed when written confirmation of acceptance (which may be sent by email) is sent by LMA to you. 4. at the appropriate rate as at the date of invoice). either party may terminate this Agreement by giving 14 days' written notice to the other party and any fees already paid to LMA for the Course will be refunded. please contact the Database Manager. additional assessment and skills training • Flexibility . Occasionally your details may be obtained from.Despatch calculation • Supporting documentation . disaster. together with your application Calculating Laytime Tankers Dry cargo Step-by-step guides . lease. Cosmos Shipping SA Module Two Demurrage. DATA PROTECTION AND CALL MONITORING Personal data supplied is subject to the Data Protection Act 1998. Defining Laytime Types of laytime .uk. alter or create derivative works from the Course Materials or otherwise use or exploit the Course Materials other than as expressly permitted in this Condition 6. BSc.Worldscale • Commencement of laytime . If you do not wish to receive details about their products and services. fax: +44 (0)20 7017 7828. service or similar taxes (which will be charged. You acknowledge and agree that any Course Materials which are provided to you may only be used solely for your own private. illegal or unenforceable. fire.COURSE SYLLABUS Module One Module Four Introduction and Context Key terms and concepts Background to chartering .Demurrage calculation .Time sheets . sales. provided such notice of cancellation is received by LMA before the first day of the Course.Dry charterparties .Statement of facts . LIMITATION OF LIABILITY LMA’s liability for losses you suffer as a result of LMA breaching this Agreement or otherwise in connection with the Course is limited to those losses that are a foreseeable consequence of LMA breaching this Agreement. PhD (cand) Shipping Consultant. Losses are foreseeable where they could be contemplated by you and LMA at the time LMA accept you onto the Course.scheduled to suit your requirements • Support . consultant or participant cancellation or withdrawal. be deemed not to form part of this Agreement and the validity and enforceability of the other provisions of this Agreement shall not be affected. 13. 37-41 Mortimer Street. LMA reserves the right to make non-material alterations and/or amendments to the Course as in its reasonable opinion it considers to be in the best interest of the Course (including. Cosmos Shipping SA Module Six • OTHER COURSES AND EVENTS Distance Learning Postgraduate Diploma in Maritime Law October 2011 Foundation Diploma in Admiralty Law & Practice December 2011 Foundation Diploma in Tanker Charterparties December 2011 Foundation Diploma in Time Charterparties December 2011 Foundation Diploma in Voyage Charterparties December 2011 Diploma for the Ship Agent February 2012 Certificate in Marine Salvage Law February 2012 Certificate in Chartering April 2012 www. APPLICATIONS To apply for a place on the Course (as defined below) either complete the relevant application form (“Application Form”) or apply online. tel: +44 (0)20 7017 7077. Your application is an offer to Lloyd’s Maritime Academy (a trading division of IIR Limited) (“LMA”) to study on the course as set out in the Application Form (“the Course”) which is subject to LMA’s (and any associated academic partner’s) acceptance. non-commercial use. This information may be used for direct marketing purposes. if applicable. civil riot. Pentheroudakis Managing Director.Bills of lading • Resolving disputes . LMA may offer you the option of participating in any re-arranged comparable Course that LMA chooses (in its sole discretion) to organise. ENTIRE AGREEMENT You and LMA (“the Parties”) acknowledge that these terms and conditions. If LMA receives your notice of cancellation 8 days or more from the date LMA has confirmed your acceptance to the Course you will still receive a refund of your fees already paid to LMA.additional company focused content. case studies and examples • Blended learning . please contact the Database Manager. whichever is sooner. you will become immediately liable to pay the outstanding amount. GOVERNING LAW AND JURISDICTION This Agreement will be governed by the laws of the England and disputes under or in connection with them shall be subject to the non-exclusive jurisdiction of the English courts.Special clauses • Laytime and freight rate Katerina Konsta Dip Fin.

US$ & HK$) IIR Ltd. NatWest Tel: +44 (0)20 7017 4237 Fax: +44 (0)20 7017 7854 Email: lmaadmin@informa.80) = £2278. Who is your Approving Manager?(Mr/Ms) Family name Job title Telephone Telephone First name Email First name Email 5.80 I £1999 (No VAT to pay) I £1999 (No VAT to pay) Lloyd's and the Lloyd's Crest are the registered trademarks of the Society incorporated by the Lloyd's Act 1871 by the name of "Lloyd's". analysis and comment at no charge for 10 Mail: Lloyd's Maritime Academy 6th Floor.80 I £1899 + VAT @ 20% (£ STEP 2: PARTICIPANT DETAILS – Please photocopy form for multiple bookings STEP 2: PARTICIPANT DETAILS – Please photocopy form for multiple bookings 1. 29 Bressenden Place London SW1E 5DR Are we mailing you correctly? To update your contact details on our database please visit www. 37-41 Mortimer STEP 1: WORK OUT THE PRICE (please tick option) Certificate in Laytime & Demurrage UK Individual or UK Company EU Individual or EU non-VAT Registered Company EU VAT Registered Company (VAT number must be quoted in Step 2 below to qualify) Individual or Company outside the EU Book on or before 2nd December 2011 I £1899 + VAT @ 20% (£ Lloyd's Maritime Academy is part of IIR Ltd Registered in England No 1835199. UK Sort Code: 60-06-06. Sign up for a trial to LloydsList. For further information on payment details call Customer Services on +44 (0)20 7017 5510 or email: lmaadmin@informa. Signature Date _ _ / _ _/ _ _ Participants who do not pay with their booking are requested to provide a copy of bank transfer/credit card/cheque details to help payment or email: marketing@lloydslist.informa. Registered Office: Mortimer House. Participant (Mr/Mrs/Ms/Miss/Dr/Capt) Family name Job title Contact address for correspondence City Direct telephone Preferred email Postcode/Zip code Mobile VAT number Country Fax First name Company 2.80 I £1899 (No VAT to pay) I £1899 (No VAT to pay) Book after 2nd December 2011 I £1999 + VAT @ 20% (£399. but if you fail to pay any invoice in full and on time. account 01825550. (GB) 365 4626 36 . Enclosed is a cheque made payable to IIR Ltd (Ref: FLP2228) Please charge my credit card: Card no Card holder’s name Card billing address Expiry date (CVV: last 3 digits on signature strip on back of credit cards. SWIFT address: NWBKGB2L.CERTIFICATE IN LAYTIME & DEMURRAGE DELIVERED BY DISTANCE LEARNING OVER 12 WEEKS Commences 31st January 2012 VIP CODE: FLP2228EMAG LMA//SW/KAR/LS/TR/TR Course Code 5 EASY WAYS TO REGISTER FLP2228 Enrol now for practical tips on defusing disputes and maximising charter profits! Online: www.80) = £ and get all the most important shipping news. Colchester.80 I £1999 + VAT @ 20% (£399. London W1T 3JH. Who is your Training Manager? (Mr/Ms) Family name Job title 4. VAT Registered No. Essex.80) = £2398. Who is paying for the course? (Please delete as appropriate) I am paying for the course fees personally/My employer is paying for the course fees/Other 3.lloydsmaritimeacademy. we will charge the card for any outstanding sums. How did you hear about the course? (Please provide as much detail as possible) STEP 3: PAYMENT DETAILS (Please tick the relevant option) Regardless of payment choice please provide your credit card details. No charge will be taken at this point or without contacting you first (unless this is your selected payment option). Amex: 4 digit number on the front of the card) __/__ CVV Number Contact tel no Signature For payment by Bank transfer (excl. Ref: FLP2228 and participant’s name I have read the Terms & Conditions as outlined on the course brochure and agree to adhere to them.80) = £2398. Visit www.