Course Topics

This intense two-day course provides you with the tools and covers the topics that will help you to increase your understanding of charter parties, laytime and demurrage, such as: 


  •     Types of Charter Parties - Spot - Voyage
        - Bareboat - Demise - Time

  •     Typical Exceptions to Laytime / Demurrage

  •     Calculations of Demurrage

  •     Chartering Terms and Definitions

  •     Elements of a Demurrage Claim

  •     Review of Industry Contracts - Differences

  •     Investigating a Claim

  •     Typical Industry C/P Clauses

  •     Sample Demurrage Calculation Exercises

  •     Owner’s vs. Charterer’s Items

  •     Arbitration Vs. Litigation

  •     Bunker Acquisition and Cost

  •     Time Bar - Filing - Refuting Claims

  •     Notice of Readiness (NOR) - Tendered
        - Accepted - Not Accepted

  •     Mock Arbitration of Actual Demurrage /
        Operations Claim

  •     Laytime - Demurrage - Dispatch

  •     Worldscale - AFRA - Freight Rates

  •     Voyage Costing - Vessel Utilization

  •     Performance Clauses – Vessel Approval

  •     Laydays - Windows

  •     Vessel Vetting - ISM / ISPS / MTSA Codes

  •     Time Sheets - Time Counts - Not Counts

  •     Once on Demurrage Always on Demurrage?


Course Objective:  To familiarize the participants with the key clauses of widely used charter parties, basic calculation of laytime and demurrage and charter hire under various types of charters, and the mechanics of an arbitration.