20 March 2012
- Overview of the Global Shipping Industry
Shipping companies and their organisation. The market players: owners, charterers, ship managers, ship/chartering brokers and ship's agents. Maritime conventions and the international regulatory regime. Impact of future regulation?
Lecturer: Ms Cathrine Bjune, Assoc Prof & Lawyer, BI Norwegian Business School
- Ship Registration and Flag Choice Factors
Ship registration, choice of flag factors including cost, regulation, cabotage, taxation and rebates, crewing and mortgage security. Flags of Convenience: the good, the bad and the ugly. Port State Control and the impact of PSC ‘blacklists’ on ships, ship owners, ship registers and class societies.
Lecturer: Capt Robert Gordon, Solicitor & MD of Seasia P&I Services
- Cabotage: update and impact on offshore operators in Asia
What is cabotage? New regimes in Indonesia and Vietnam. Existing cabotage rules in Australia and Malaysia. Effect of associated rising crew costs and taxes. What about cabotage in Brazil – impact on Asian offshore owners?
Lecturer: Ms Martine Dysvik, Senior Associate, Wikborg Rein, Singapore
Q&A: Which flag ? And why?
Q&A panel: Cathrine Bjune, Robert Gordon & Martine Dysvik
- Global Shipping Markets, Market Cycles and International Trade
Overview of global and maritime economics and sea transport. Key drivers of demand and supply. Current trades and global patterns, market cycles and shipping risks. Future trends?
Lecturer: Dr Jasmine Lam, Asst Prof & Director of Maritime Studies, Nanyang Technological University
- Shipping Markets and Trade: from the Broker’s Perspective
Overview of the global shipping markets, current freight rates, earnings, order books and trends in a volatile global economy. Where is the hot money going to re-position for the future?
Lecturer: Mr. Nicolas Duran, Head of Dept for S&P & Newbuildings, Fearnleys, Singapore
Case Study/ Discussion: What stage of the current market cycle are we in right now? Where is it going? And how can owners take best advantage of the next upswing?
Case Tutors: Dr Jasmine Lam and Nicolas Duran.
21 March 2012
- Introduction to Marine Insurance
History, underlying principles and the Marine Insurance Act 1906. Types of cover including H&M, Cargo, P&I, Transport Liability, War Risks and Strikes/Terrorism, Delay cover etc.
Lecturer: Ms Cathrine Bjune, Assoc Prof, BI Norwegian Business School
- Role of the Insurance Broker and Current Market Update
The broker as the insured’s ‘agent’, risk assessor and adviser. Overview of the Singapore & international insurance markets. How do underwriters assess the risk and set premiums? Insurance loss trends for the marine industry: getting better or worse? What can we expect for the future in terms of losses and premium costs?
Lecturer: Mr Lewis Hart, Executive Director, Willis Singapore
Case Study/Discussion: The “Costa Concordia” – what went wrong, who is going to pay and how much? Impact on the insurance market??
Case Tutors: Lewis Hart, Cathrine Bjune, Robert Gordon
- Ship Chartering: the players, the markets and the money
Liner shipping vs Tramping. Introduction to chartering and C/P contracts: Time, Voyage and Bare Boat. Market fundamental including standard forms, clauses and pitfalls. Legal and practical aspects of chartering including demurrage, dispatch, on-hire and off-hire. Role of port agents. Freight rate factors. Fundamentals of voyage term application and revenue calculations.
Lecturer: Ms Djeni Rolana, former Chartering Director, E-Ships, Abu Dhabi
- Fleet Management and Operation: the Ship Owner’s Perspective
Commercial, Technical and Crewing: scope and application. In-house or out-sourced 3rd party management and cost/benefit analysis. Ship operations, running costs and profitability: cost efficient solutions. Future events: the MLC 2006, the Ballast Convention, the rising cost of bunkers and MARPOL reduction of air emissions. Technical and market challenges, strategic planning and implementation.
Lecturer: Capt. Pradeep Desawar, General Manager, PIL Singapore
Case study: Practical aspects of chartering including calculation of earnings, ship operating costs and net revenues.
Tutors: Djeni Rolana, Capt Pradeep Desawar and Cathrine Bjune
Summing up and assessment of the day’s learning sessions
22 March 2012
- Ship Sale & Purchase and Newbuilding Contracts
Key elements of a contract and Standard Contract wordings. Importance of jurisdiction and the governing law: English/Common law or Civil/Codified Law? Dispute resolution: mediation, arbitration or court process and strategic selection. Overview of the new Singapore Sale Form and the recently updated Norwegian Sale Form: advantages?
Common issues and problems in S&P and newbuilding contracts. Can the seller or buyer escape? “Force Majeure” case study – misconceptions and the reality.
Lecturer: Mr Mike Pollen, Solicitor and Partner, K & L Gates LLP, Singapore
- Ship Finance: current markets, credit issues and solutions
The global markets for ship finance, types of financing available, credit risk assessment, cash flow and asset considerations, analysis of a ship finance application including terms, security and repayment. Potential default on loans, early signals, bank/owner team analysis and restructuring/innovative thinking.
Lecturer: Mr Robin Chan, Senior Vice President, DnB Bank, Singapore
Case Study/Role Play: An S&P closing and the coordinated interaction between the lawyers, the banks, the ship registers and the sellers & buyers.
Tutors/Role Players: Mike Pollen, Robin Chan, Cathrine Bjune and ‘volunteer’ delegates
- More on Chartering: market analysis, strategy and fleet positioning in an uncertain world
Market research sources, use of analytical tool, tactics and strategic planning in difficult times. Fleet tonnage management including scrapping, sale, conversion, 2nd hand acquisition and new builds. Fleet positioning. The hot charter revenue markets for now and the future?
Lecturer: Ms Djeni Rolana, former Chartering Director, E-Ships
Chartering Q& A session with Djeni Rolana and Cathrine Bjune
Course ‘Wrap-up’, completion of Course Assessment forms, award of BI Norwegian Business School “Certificates of Achievement” by Cathrine Bjune + course delegate photos for the SeaProf Facebook page.
End of Day 3 and the Course. Delegates will be invited to join the SeaProf/ Key Elements Face Book page to stay in touch with classmates and keep up to date on new courses and developments in shipping law and business.
