Course price

Discounts

A 10% group discount is available for registering 3 or more participants from the same company. It cannot be combined with any other discount.

Overview

The BIMCO Chartering Academy offers a comprehensive week-long training programme specifically focused on maritime chartering. In the fast-paced and ever-evolving world of chartering and vessel operations, staying ahead of market trends, regulatory changes, and technological advancements is essential for achieving and maintaining success. Recognising this need, our intensive five-day training programme is designed to equip maritime professionals with the knowledge and skills required to navigate the complexities of modern shipping and chartering effectively.

Each day of the programme is dedicated to a specific aspect of the maritime industry. We will cover the topics in a way that blends theoretical insights and practical applications, creating a balanced learning experience. The curriculum is structured to address key topics such as market analysis, regulatory compliance, contractual obligations, risk management, and technological innovations in the industry.

Through a blend of expert-led lectures, interactive workshops, real-world case studies, and hands-on exercises, attendees will gain practical experience and develop critical skills. This holistic approach enhances your theoretical understanding and prepares you to apply the knowledge in real-world scenarios, ultimately fostering a higher level of competence and confidence in your professional role. The BIMCO Chartering Academy is a unique opportunity for maritime professionals to advance their expertise and stay competitive in the dynamic maritime industry.

What will you learn?

Day 1: Navigating Markets and Chartering Strategies

The first day of our programme sets the foundation by diving into the intricacies of chartering markets and strategies. We begin with an inspiring keynote session, setting the tone for a day of deep learning and engagement.

Morning Sessions:

• Overview of the Chartering Markets: Understand the landscape of chartering, including the essential types of charters; Time charters, Voyage charters, and Bareboat charters. Through real-life case studies, participants will learn about the strategic considerations that influence chartering decisions.
• Supply, Demand, and Freight Rates: Participants will gain a comprehensive understanding of the supply and demand dynamics in the shipping industry. They will analyse how market trends, seasonality, and economic indicators affect freight rates and engage in practical exercises to interpret Freight Rate Indicators and calculate rates based on real-world data.

Afternoon Sessions:

• The Freight Derivatives Market: Explore the world of freight derivatives, including futures, forwards, and options. Learn how shipping companies use these tools to hedge and manage price volatility risks in chartering.
• Forecasting and Market Research: Learn about market research techniques and predictive analysis. Understand how to use market reports and expert insights to anticipate trends and make informed decisions.

The day concludes with a practical session/case on navigating market volatility, which provides hands-on experience in applying the day's learnings to real-world scenarios.

Day 2: Decarbonisation and New Regulatory Compliance Requirements

With a global emphasis on sustainability, the second day focuses on the imperative topic of decarbonisation and compliance with new regulations.

Morning Sessions:

• EU ETS and CII: Learn about the European Union Emissions Trading System and the Carbon Intensity Indicator, examining their impact on maritime operations and compliance strategies.
• Decarbonisation Clauses and Contracts: Understand the role of BIMCO's clauses in shipping contracts and how to implement effective voyage planning strategies for a decarbonised future.

Afternoon Sessions:

• Future Fuels: Gain insights into the current and future landscape of fuels and bunkers, including emerging technologies and alternative fuels.
• Regulatory Frameworks: Explore strategies for optimising fuel efficiency and reducing emissions and forecast future trends in the global fuel market.

A practical session will provide a case study on integrating decarbonisation initiatives into shipping operations while maintaining competitiveness.

Day 3: Navigating Geopolitical Challenges in Chartering

Geopolitical events can profoundly impact maritime operations. The third day addresses how to manage these challenges effectively.

Morning Sessions:

• Force Majeure and Frustration in Relation to Commodity Sales Contracts and Charter Parities: Learn to navigate these critical clauses to mitigate risks and manage uncertainties in commodity trading and chartering.
• Termination of Contracts: Understand the implications of contract termination on charterparty agreements and strategies to manage associated risks.

Afternoon Sessions:

• Sanctions in a Contractual Context: Explore the impact of international sanctions on chartering and strategies for compliance.
• War Risks in a Contractual Context: Examine the effects of geopolitical tensions on contracts and how to incorporate adequate war risk clauses.

The day ends with a practical session focusing on strategies for mitigating risks and upholding operational resilience during geopolitical turbulence.

Day 4: Digitalisation of Chartering and Vessel Operations

Embracing digitalisation is crucial for modern maritime operations. The fourth day explores the transformative impact of technology.

Morning Sessions:

• Single Maritime Window and Electronic Bills of Lading: Discover how these technologies streamline maritime trade and enhance efficiency.
• Artificial Intelligence in Chartering: Learn about AI applications in predictive analytics, data optimisation, and decision-support systems in shipping.

Afternoon Session: A practical session will provide case studies on successful implementations of SMW and e-bill systems, fostering a culture of innovation.

Day 5: Working with Risk Management in Chartering and Operations

The final day ties together the previous days' learnings, focusing on risk management as a vital business tool.

Morning Sessions:

• Chartering Risk Management: Integrate risk management strategies into daily operations, understanding how to navigate market volatility and regulatory challenges.

Afternoon Sessions:

• Operational Risk Management: Explore best practices for mitigating operational risks in vessel operations, cargo handling, and logistics.

The programme concludes with a practical session that synthesises the week's learnings, providing participants with actionable insights to apply in their daily work.

Case studies

During the week, participants will gain an understanding of the process and challenges of chartering through several case studies.  All of the insights and learning will be put to test on the last day. Working in groups, all participants will take on their roles as brokers and shipping executives in six companies, some as charterers and some as owners.

With exotic company names such as “Almost Chartering” and “Desperate Shipping”, the groups will compete to fix their ships at the best possible daily time charter rate. It is a race against time, but there are rules to be followed such as trading restrictions, the age of the vessels and the general reputation for performing well. These are opportunities or challenges, which need to be addressed and balanced to win the Game of Fixtures!

Why choose to participate?

BIMCO has a vast global network, with members from over 120 countries, including shipowners, operators, managers, brokers, and agents. This extensive network enables BIMCO to draw on a wide range of expertise and real-world experiences, enriching our training programmes with a wide range of diverse perspectives and insights. Moreover, BIMCO's strong industry connections facilitate the inclusion of guest speakers and industry leaders who can provide firsthand accounts and case studies, making the training more engaging and practical. The global perspective BIMCO offers is particularly beneficial in understanding the international nature of chartering.

Moreover, BIMCO stands as the leading provider, expert, and source of charterparties and clauses, a position that significantly enhances our capability to conduct effective training. BIMCO's expertise in drafting and revising these critical documents ensures we remain aligned with current industry practices, regulatory changes, and technological advancements. This continuous adaptation and refinement process affirms BIMCO's reputation as an authoritative source and translates into high-quality training that combines theoretical knowledge with practical applications. As a participant, you will benefit from BIMCO's deep understanding of contracts and clauses and learn from real-world examples and case studies from BIMCO's extensive experience.

This practical insight equips participants with the skills necessary to draft, interpret, and negotiate charterparty agreements effectively, ensuring you are well-prepared to handle the complexities of modern maritime chartering.

How will this course help your professional development?

One of BIMCO's strengths is our ability to provide comprehensive and up-to-date information. The maritime industry constantly evolves, with new regulations, market trends, and technological advancements emerging regularly. BIMCO is at the forefront of these changes, continuously updating the maritime industry with information and guidance to reflect the latest developments. The training programme offers access to the most current information and practices, ensuring you are well-equipped to navigate the dynamic landscape of maritime chartering.

Our training programme is designed to provide a holistic understanding of chartering. With expert-led sessions, practical exercises, and real-world case studies, you will gain the skills and knowledge to excel in this dynamic industry. It is an unparalleled learning experience that will empower you to navigate the complexities of modern shipping.

Course certification

A BIMCO certificate will be issued, showing the duration of the training.

Course materials

BIMCO issues electronic course file as an Adobe PDF file enabling you to make personal notes using a computer or tablet. Please bring a computer or tablet to the course! All documentation and presentations will be in English.

Speakers

Organiser