International Petroleum Shipping & Freight Market

This CITAC training course, in partnership with Riverlake Shipping, will use numerous theoretical and practical workshops to examine in detail, international petroleum shipping and freight markets. It will explore the global and African situation and analyse key issues such as vessel selection, freight costs, risks involved in shipping petroleum products, the various benefits of working in the African market, and documentation.

This four day training course will cover and discuss the following topics:

International Shipping Market

  • Oil Market Trends. What is happening? A recovery from the crash?
  • The African Oil Market. Who is doing what? Who are the charterers and who are the active shipowners? What are the benefits of operating in Africa?
  • Piracy: a disaster for the market. Consequences?
  • Vessels and hulls/double hulls types. Pros? Ship’s measurements / Vessel draft (TPC) – Workshop
  • Ship to ship operations. Why and how? What are the risks and difficulties? How to measure the transshipped quantities?

How to Charter

  • Parties involved. Who does what?
  • Choosing a vessel
  • Closing chartering contracts – Workshop
  • Thoughts on the value of a shipping department

Demurrage & Managing Risks

  • How to prevent demurrage
  • Demurrage calculation workshop

Charter-party Contract Negotiation
What is the best charter-party?

  • What is the best charter-party
  • Types of agreements – Spot / Bare boat/ Time charter
  • Legal liabilities

Freight Invoices

  • Calculate freight costs per tonne or per
  • Worldscale point
  • Worldscale – How does it work? Justification and practical examples – Workshop


  • Bills of lading – explanation & practical approach

Maritime Regulation

  • Vetting – Oil tanker quality. Floating dustbins?
  • How to insure oil tankers. What protection?
  • IMO & Class.
  • P & I Club – shipowner insurance
  • National flag or flag of convenience?

This course is designed for those involved in the transportation of oil products and downstream oil market activities.