What are the basics of Ship Chartering?

Lecture 1:Ever wondered What are the Basics of Ship Chartering? How does the whole Commercial Shipping Industry operate?
In this video we'll try to answer the following questions:
(1:27) Who are the players in chartering?
(1:40) Who is a shipowner?
(2:08) Who is a charter?
(2:43) Who is a shipbroker?
(3:24) What is the shipbroker job description?
(5:08) What are the different types of brokers?
(5:48) What are different types of cargoes carried on ship?
(6:38) What are different general Bulk Carrier Sizes?
Handysize, Handymax, Supramax, Panamax, Post-Panamax, Capesize,
VLOC
(7:58) What are the different Tanker Sizes?
General Purpose, Medium range, Long Range 1, Aframax, Long range2, VLCC, ULCC
(8:57) What are the different cost components in shipping?
(9:36) Capital Costs (Cost of Capital - CoC),
(9:47) Operating Expenses (OPEX),
(11:30) Periodic Cost,
(12:25) Voyage Cost,
(14:06) Cargo Handling Cost
(15:03) What are the different types of chartering?
(15:25) Voyage Charter,
(17:02) Time Charter,
(18:19) Trip Time Charter,
(19:05) Bareboat Charter,
(22:03) Consecutive Voyages,
(22:39) Contract of Affreightment
(22:01) What are the different cost component between Voyage, Time and Bareboat Charter?
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Feel free to download the sample copy for the lecture: www.shipscope.org/?page_id=497
For the full version of the lecture to download please visit my website.
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#maritime #chartering #shipping
About: ShipScope brings you an e-learning platform to learn about commercial shipping subject.
So keep on learning it and we will talk soon!
Credits:
Ship Inspection (shipinspection.eu/)
shippipedia (www.shippipedia.com/chartering/)
Disclaimer: The information contained in this multimedia content (“Video”) posted represents the views and opinions of the original creators of such Video and does not necessarily represent the views or opinions of any other organisation. The mere appearance of this video on the Channel/website does not constitute an endorsement by any professional body. This Video has been made available for informational and educational purposes only. ShipScope does not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the Video Content. ShipScope does not warrant the performance, effectiveness or applicability of any sites listed or linked to in any video content. This Video is not intended to be a substitute for professional advice or consultation. Always seek the advice of your financial, legal, tax or professional advisors to be aware of the risks involved which may be obtained and necessary due diligence, etc may be done at your end. Never disregard professional advice or delay in seeking it because of something you have read or seen on the video or any website.ShipScope hereby disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this video, which is provided as is, and without warranties.

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wish to see more

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My aim is to provide the best e-learning platform to the upcoming younger generation and professional who want to learn about commercial shipping subjects. Let's hope for the best. Thanks for your kind words.

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[@ShipScope]

Most welcome!Cheers

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Thanks for your kind words Rose. Happy learning.

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[@maine6653]

Thank you very much for this, I was hired to a company where they offer ship brokering and chartering, this was very helpful it gave me alot of information I needed since I was studying in advance for my new work. This was very informative and well delivered especially for me who is new to this industry, looking forward for more! You are the best! Keep safe!

[@ShipScope]

Hi Maine, Thanks for your kind words. I am glad the Chartering 101 series is helping you out. Happy Learning.

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Thanks for this video

[@ShipScope]

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this is incredible work

[@ShipScope]

Hi Kamby, I am happy that it is helping you with your preparation. Keep on learning it.

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Dear Akash , saw your You tube channel and happy to see what you are doing. This type of online training is need of the hour. Great job. All the best. Hope u know and remember me . All the best.

[@ShipScope]

Thank you so much for your kind words. The aim is to provide the best e-learning platform to the upcoming younger generation and professional who want to learn about commercial shipping subjects.

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[@dineshkshatriya2165]

Sir do I need to do any particular courses for chartering

[@ragunathanragu1115]

you have given good explanation on the ship chartering

[@urmigavas254]

Hey akash congratulations on the video..Great content for people starting in the shipping industry

[@ShipScope]

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[@ShipScope]

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Informative and Interesting! All the best Akash!

[@ShipScope]

Thanks

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Brilliant explanation sir. I loved the way u taught 👍

[@ShipScope]

Glad to hear that

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[@ShipScope]

Thanks, for your kind words Ruchi. I am glad you are learning. Please feel free to connect with me on LinkedIn.

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New subject for us,but very well explained!

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I am glad you liked it. Feel free to check our website, on all resources which are there at our website.
www.shipscope.org/

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Nice video Content....
Good presentation...
Really aweasome, a fresher can be well guided and can learn many things through this wonderfull platform...

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So easily explained..

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Thanks for your kind words Ankit. Feel free to check our website on all the resource which are available at your disposal. www.shipscope.org

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Finally! I’m very eager to learn more about shipping with your series. Thanks :)

[@ShipScope]

Happy to hear that!

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Currently i am doing internship in a shipbroking company..And this video helped me alot in gaing the basic knowledge . Thank you.

[@ShipScope]

I am glad its helping you out mate. Learn as much as possible and excel in your path. All the best.

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Hi friend, what's the name of the shopbroking company you did your internship in? Did you pay for the internship?

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How did you gt into this internship bro ?

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Well sir. Excellent lecturer.

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Thanks mate

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Nicely explained

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Good job.. Please don't stop..
Can u post video on demurrage

[@ShipScope]

Thanks, I will be explaining on demurrage soon in the upcoming lecture series hence subscribe to my channel so that you don't miss out. Cheers!

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Thanks for your kind words Paisan, Cheers

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Hi Akash, well conceptualised capsule. The intro has been impressive. Keep going...Manoj

[@ShipScope]

Thanks, Manoj, for your kind words.

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Great Job, it is very useful

[@ShipScope]

Glad it was helpful!

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Well explained all components in chartering. Thanks, Akash, 🙏

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Thanks a ton for your kind remarks, happy learning.

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Well presented... and well explained.

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Really informative

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Great info sir

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Nice video, sir.

[@ShipScope]

Many thanks Makkal for your comment. Cheers

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Hey Aakash basics are covered nicely 👍

[@ShipScope]

Thanks

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Good one

[@ShipScope]

Thanks for your positive words

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Vey good explanation

[@ShipScope]

Thanks a ton. Happy learning.

[@nerflixnetflix862]

Nice video
One clarification I need that
How Operating Cost can be a fixed cost? Check at 9:23

[@ShipScope]

Hey, buddy go through the link which I am sending you, it will clarify your doubt.
www.handybulk.com/shipping-costs

[@Bikash9577]

Please guide on Penal berth hire charges, how it is decided in a charter party.

[@ShipScope]

Penal Berth Hire charges will be applicable for Vessels not ready to sail after certain hours from completion of cargo operations. It depends on different ports on how the hours are adjusted and what charges are levied. Furthermore, for cargo handled on mechanised bulk berths, penal berth hire charges will be levied on shipping/vessel agents for non-adherence to productivity norms; for cargo handled on conventional berths handling dry bulk/break bulk cargo, penal charges will be levied on stevedoring agents for non-performance; and for cargo handled on liquid berths, penal charges will be levied on shipping/vessel agents for non-performance. Penal Berth Hire charges come under FDAs and will be a part of voyage related costs. For more information please visit www.tariffauthority.gov.in/writereaddata/UploadFile/COMMONG90ORDRPASD20022020ORDR_1031.pdf
www.bimco.org/-/media/bimco/ships-ports-and-voyage-planning/countries/india/dighi/port-tariff_1038760718_2019-05-16_01-47-05.ashx

[@billts2063]

I have the following question regarding tanker ship types:
I have seen the below classifications
1.Panamax tankers (50-80,000 dwt)
2.Aframax tankers (80-120,000 dwt)
3.Suezmax tankers (120-200,000 dwt)
4.VLCCs (200-300,000 dwt)
5.ULCCs (300,000+)dwt
So, if we combine the above chart with the one in your video, this means that: 1) A Panamax tanker is also a LR1? 2) A Suezmax is also a LR2/smaller VLCC?
Could you please clarify?
Thank you very much! Also, congrats on your UA-cam channel, it is very helpful and interesting! Keep up the good work :)

[@BreachingCharge]

Figured I would poke my head in since nobody else gave you an answer.
Yes, the classes mix a bit. But it mostly depends on what classifications a company uses e.g. Shell may use LR1-LR2 etc while BP may use VLCC ULCC classifications.

[@neerajkathuriya1934]

That's really good piece of information on charter and voyages and INCOTERMS.. Be little slow while delivering your lecture session..

[@ShipScope]

Thanks for your remarks Neeraj, We shall make a video on INCOTERMS too. Furthermore, You can adjust the playback speed (to 0.75) under the setting options.Hope it helps.

[@georgesimitzhs2649]

Great job!!!! Is threare any chace to get any notes?

[@ShipScope]

For sure George, you can get the notes from our website.
www.shipscope.org/?post_type=product

[@shani70]

Your video is informative in terms of responsibilities and liabilities between various types of charterers, are you in a position to make a vlog about the Future Freight Agreement and bunker hedging strategy which is extensive volatile expenses in spot market to have a sustainable business in doldrum of market unpredictable?

[@ShipScope]

Hi Zeeshan, for market study we would recommend you attending Baltic lectures in which you can get present insights.

[@zhuoranzhang1489]

I am young man in China who has a internship in a shipping company,thanks

[@ShipScope]

Cheers, We hope it helps.

[@mimo9603]

thanks for your video, I had a question about choosing the best type of chartering for VLGC (LPG type) in the current market, and also what parameters impact choosing a chartering type for example in long-term or midterm analysis?

[@ShipScope]

Thanks for your suggestions, feel free to have an appointment with our founders subject to your availability in which you can discuss your in-depth queries. www.shipscope.org/?page_id=1456

[@richardsandia8095]

Minute 3:22 you talk about the competitive broker those are independent person specialized in what?

[@ShipScope]

So a brokers specializes in a particular cargo and a particular area. For example, he is an expert who looks after the clean products and keeps a close watch on the Mediterraneans seas only. It takes years of practice and dedication to built up trust with the principles trading in that area.

[@sasazibe2680]

I learnt a lot in this video thumbs up to you for a great job

[@ShipScope]

Glad it was helpful! Keep on learning as much as possible.

[@jamesibeabuchi5997]

Is an interesting business

[@ShipScope]

It is indeed.