Cargo Reconciliation (Cargo Voyage Analysis) (4 hrs.)

Oil is difficult to measure and account for.  There will always be some variance between what was actually bought / sold and received. Being able to identify / quantify the variance is the first step in being able to recover any loss and then prevent it from happening in the future. This mini virtual session does just that.  In a clear and concise format, it details the best cargo documents to get the data for analysis, including:

  • Bill of Lading – Shore tanks / Meters / Other
  • Ship Figures Load Port – Manual / Open / Automatic / Electronic
  • Shore Receipts / Shore tanks / Meters / Manual / Open / Automatic
  • Ship figures / Automatic / Manual / Open / Automatic / Electronic
         - See how to logically compare – Manually / Excel
  • Determination if Loss Occurred and Where
  • Assigning Responsibility
  • Valuation of Variance / Loss
  • Verification of Line Fill – Ship / Shore
  • Suggestions How to Proceed

 

Notice of Readiness (NOR) – (4 hrs.)

The NOR is the first notification that the vessel has arrived at its designated load or discharge port and an indicator of when the “clock” starts for the calculation of laytime and demurrage.

Its interpretation has been the source of many an arbitration or legal action.  This course points out the differences between the various popular charter parties in use today and which ones are ship friendly and which are charterer friendly.

  • What it is – What is its purpose?
  • When it is Valid – Differing Contracts and Interpretations
  • Does it have to be accepted to be valid?
  • Differences between Contracts
  • Charter Party / Terminal NOR

     o   Differences between Charter Contracts

     o   Sample Calculations

     o   Review of Sample Contracts / Additional Clauses

 

ROB / OBQ – Measurement/Calculation and Retention Clauses – (2 hrs.)

Even though ROB and OBQ are usually not the accounting problems they were in the past, they still are a potential source of unexplained loss and a discrete recoverable during a marine custody transfer movement.  Most times these "losses" are unintentional while on rare occasion they have been planned in advance. This session explains how the small quantities on the ship should be measured and accounted for and where they could be "hiding."   The session also details the various “cargo retention clauses” in use today and which ones might be most effective in the recovery of the ROB quantities.  Proper use of the “wedge formula,” “wedge tables” and trim correction tables are discussed in this session.

Vessel Experience Factor (VEF) - (2 hrs.)

The vessel experience factor (VEF) is getting more and more use today than ever before and it can be a very useful tool in cargo loss analysis and investigation but many of those who use them do not fully understand where the numbers used to calculate it come from or how to validate them before use.  This session details where the source number should come from, how to validate them and ultimately how to properly use them.  This session explains:


  • How to collect / verify data to calculate the VEF 
  • Uses of VEF – Proper and Improper
  • Validity of Load VEF vs. Discharge VEF
  • Data qualifications / disqualifications
  • Alternative data sources / Calculation Options
  • Updates of API – MPMS Chapt. 17.9