Commercial Aspects of Ship Operation

Shipping is a business and the 'management team' on board plays a pivotal part in making it profitable.
Course | Updated
This course is scheduled on demand
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The competency requirements being mainly focused on technical skills, the commercial aspects are a gray area for many on board. The course gives the participants a feel of the financial side of the business, with the aim of improving cost-effectiveness of shipboard functioning.

Course Objective:

  • To gain an insight into the financial aspects in day-to-day vessel's operations and special operations.
  • To have a better understanding of Charter Parties and Contracts of Affreightment and the shipowner's interest / liabilities with respect to the same.
  • To understand the process of Marine claims, Insurance, and shipowner's position with regard to financial liabilities, and the participant's role in protecting the owner's interests.
  • To apply the above knowledge towards effective cost-saving measures while fulfilling his duties on board.

Duration: 3 days

Suggested Target Group: Management Level Staff On Board 

Course Contents:

  • The shipping business -an overview.
  • Vessel Budgets- Financial/Trading / Operations.
  • Carriage of Goods by Sea (C/P's and COA's).
  • Accident causation and Shipowner's risk exposure.
  • Risk assessment / Marine casualties.
  • Marine Insurance -Concepts and cases.
  • Agency Operations / Port Disbursements.
  • Manning Costs.
  • Bunkering; Dry-docking.
  • Materials and Maintenance Management.
  • Group discussions and workshops.