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Course Overview

Essentials of Shipping Business

Course Sypnosis

This course aims to introduce course participants to the essentials in business practices of the shipping industry and equip them with a fundamental understanding of the elements of shipping business. The course covers the different cargoes types and trade routes as well as risk management and contractual aspects of shipping such as bills of lading, marine insurance and freight futures. Participants can expect to be able to communicate more effectively with various stakeholders in the industry after this course.

You can opt to take Essentials of Shipping Business course as part of the ICS-ITI Foundation Shipping Programme. The ICS-ITI Professional Shipping Programme and ICS-ITI Foundation Shipping Programme offer comprehensive education in the shipping sector.

Who Should Attend

This is an entry-level course designed for those need to h­ave an understanding of the shipping and ship-chartering business in their daily job function. These include new hires in trading or shipping firms, staff working in operations, risk management, finance or similar functions within the trading or shipping industries, finance/banking professionals who work with clients in the industry or working professionals who wish to gain a better understanding of the industry.

Trainer Profile

The trainers are from the Institute of Chartered Shipbrokers (ICS), which is the only internationally recognised professional body representing shipbrokers, ship managers and agents throughout the world. With 23 branches in key shipping areas, 3,500 individuals and 120 company members, ICS membership represents a commitment to maintaining the highest professional standards across the shipping industry.

ICS has 16 distance learning centres around the world, the members of ICS are part of an internationally recognised network of shipping professionals who not only work towards high professional ethical standards of trust, but who also have proven knowledge, competence and understanding of the broad spectrum of shipping business.

Course Outline

MODULE Topics
Day 1 One:

Introduction to Shipping - The Shipping Business Entity & the Geography of Trade

  • Seaborne Trade
  • Types of cargoes and ships
  • Practitioners (principals and intermediaries)
  • Ports
  • Jargons
  • Political restrictions
  • Ship registration and classification
  • Trade Union Disputes
  • Natural Phenomena
  • Weather and Navigation
Two:

Dry Cargo Chartering

  • Role of broker and relationship with shipowners and charterers
  • Voyage Chartering
  • Time Chartering  

Tanker Chartering

  • Chartering forms
  • Use of World Scale

Proforma Voyage Calculation. Explains the elements of a voyage calculation for profitability.

Day 2 Three:

Contracts & Laws of Carriage:

Basic functions and legal aspects of the Bill of Lading

Comparison of The Hague , Hague Visby & Hamburg Rules & Business Ethics

Marine Insurance and Claims Procedures

  • Types of Insurance
  • Cargo
  • H&M
  • P&I
  • Particular and General Average
Four:

Risk Management Tools: Hedging – Freight Future Contracts

Five:

Case Study Discussion / Q&A

 
           
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