Informa Australia is part of the Informa Connect Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Choose Location

Register Your Interest


Shipbroking & Chartering Fundamentals

2 Day Training: The Essential Introduction to Shipbroking & Chartering. Build your understanding of the components, the terminology & the dynamics of shipbroking &
chartering, & confidently clarify many of the misconceptions that surround it

Brisbane | 8 – 9 August 2018
Melbourne | 7 – 8 November 2018

Register Your Interest Call me back Download Brochure



Key Learning Objectives

  • Understand shipbroking – the profession, its origins, purpose and commercial relevance
  • Explain shipping abbreviations – their origins, meaning and the risks that their usage can bring
  • Recognise alternative chartering strategies U nderstand the charter party – its usage, purpose and legal influence on a charter agreement
  • Comprehend CFR vs FOB sale terms
  • Analyse voyage estimating – how ship owners determine freight rates
  • Identify laytime definitions
  • Gain a working knowledge of bills of lading
  • Learn about arbitration and litigation

About the Course

Shipbrokers are the key to a transaction between a ship owner and the shippers of cargo.

The broker is involved in many stages of a deal: presenting the business to potential clients, negotiating the main terms of a contract, finalising the details of the contract and following the deal through. Brokers provide clients with market intelligence and advice.

Charterparties are one of the key contracts used by brokers in the shipping industry – an industry worth billions of dollars. They are complex and detailed contracts, and using them with clarity and confidence will provide definite commercial advantage.

This course reviews the shipping industry in general from a chartering context, and touches on maritime law, insurance, charter party negotiation, contract documentation and post fixture operational administration.

This course is designed to give all those working with charterparties, including brokers, owners, charterers, operations department staff, lenders and insurers, a practical and commercial grounding.

Who Will Benefit

  • Trainee shipbrokers and operations department staff
  • Managers already in shipping and chartering to refresh on fundamentals
  • Ship brokers, owners, charterers, government bodies, lenders and insurers
  • Bulk commodity traders, purchasing officers for bulk commodities


Ambrose Rajadurai

A CPD Course

Use this course to help fulfil your Continuing Professional Development (CPD) educational requirements to retain your professional/chartered status. Contact your relevant association to learn how


“Very knowledgeable and experienced, able to give real life examples and not afraid to start explaining complexities of issue.”
PMO, OMC International

“Very informative and easy to follow for a first timer in regards to shipping industry. Picked up what I need to know for looking at contracts and dealing with charters. Ambrose was extremely knowledgeable and gave good use of actual examples to back up the course structure”
Senior Mining Engineer, BC Iron Ore

“Most interesting part was discussions on real examples. I’ve learned the fundamental structure of shipbroking. The instructor was very friendly, available and knowledgeable. Knows profoundly the subject and is very experienced”
National Operations Manager, SGS Australia

Terms & Conditions

To read the training course terms and conditions read more here

Course Outline

Given the broad nature of training content, this course will be tailored according to the needs and requirements of the participants on the day to address specific challenges of those attending.


Shipbroking – the Profession

  • A detailed analysis of the service brokers provide, including the advisory and negotiating roles they are expected to perform in a modern shipping environment:
    • Collating market intelligence
    • Broker’s role in negotiating and fixing charterparties
  • The differentiation between “owner’s” and “charterer’s” brokers and their relationships with each other

Shipping abbreviations – General and geographic

A comprehensive explanation of abbreviations surviving from the days of cable and telex that can too easily be misinterpreted by the unaware.


The mechanics of a negotiation – a vital skill

  • Orders:
    • Voyage
    • Time Charter
  • Offers:
    • Subjects
    • Structure
  • Counters
  • Examples


Voyage charter

  • Explanation and commercial context
  • Characteristics and various stages
  • Charterer’s/Owner’s obligations and issues, such as:
    • Vessel description and seaworthiness etc.
    • Freight, cargo, loading, discharging, taking delivery etc.
    • Delays
    • Real life examples

Activity: Completing a voyage estimate

Contract of Affreightment

  • Explanation and commercial context
  • Advantages and disadvantages (when and why appropriate)
  • The various obligations of charterers and owners
  • Contract documentation
  • Real life examples

Time charter

  • Explanation, jargon and main features
  • Advantages and disadvantages (when and why appropriate)
  • Hire payment/off-hire – their meaning and critical importance
  • Operational responsibilities, seaworthiness and maintenance
  • Financial responsibilities
  • Ports and performance
  • Real life examples

Bareboat/Demise charter

  • Explanation and commercial context
  • Advantages and disadvantages (where and why appropriate)
  • Operational responsibilities of charterers and owners


The Charter Party contract

  • Explanation of its construction and relevance to individual trades and chartering strategies
  • The legal status (its ‘uses and abuses’)
  • The inter-relationship between contracts, including Charterparties, sales contracts and Bills of Lading
  • The market-reliant strengths and weaknesses of the owner or charterer’s ability to alter terms
  • Real life examples

“CFR” vs “FOB” trading

  • Who holds the control and where?
  • Commercial advantages and disadvantages of both
  • Shipping advantages and disadvantages
  • Which industries use what tactics and why?
  • The importance of transportation documents to the contract for the sale of the cargo

Workshop: How to create and complete a charter party

Voyage estimating – a worked example

This session provides an explanation and example of how freight rates are determined by ship owners.

Laytime definitions and demurrage

  • Explanation and relevance to demurrage/dispatch calculations in voyage charters
  • What is laytime?
  • Arrival, NOR and commencement of laytime/demurrage
  • Exceptions and interruptions to demurrage
  • Typical issues and disputes in this area and associated defenses

Activity: An example of how to calculate des/dem, taking into account the CP, NOR and SoF

Bills of Lading and Letters of Indemnity

  • Explanation of their origins, intent and relevance to modern shipping
  • Letters of Indemnity – their legal standing and problems associated with their use
  • The interrelationship between the Bill of Lading and the Charter Party

Conflict, arbitration, litigation and resolution

  • A review of arbitration, courts and mediation in the shipping industry
  • A general commentary on the wisdom of avoidance in favour of broker mediation
  • Common issues leading to disputes between cargo and ship, including cargo claims, laytime disputes, misinterpretation of Charter Party clauses, third party claims etc.
  • Understand how to pre-empt conflict between the misalignment of terms in sales and freight agreements

Case Study: A multifaceted case study of how a charter party was created and how conflicts arose (and why) and how they were mitigated, and lessons learn

Discussion points throughout the course

Incorporated under the above headings will also be inter-active discussion on various other topics of relevance to the course, including:

  • Negotiating skills
  • Inter-party relationships
  • Vessel types and their suitability to individual trades
  • Issues relating to proper cargo handling, loading and stowage
  • War risk and other liability insurances
  • Piracy – the risks potential and consequences thereof
  • Freight premiums relating to the carriage of dangerous cargoes

when & where

08 - 09 Aug 2018


07 - 08 Nov 2018


On-site & in-house training

Deliver this course how you want, where you want, when you want – and save up to 40%! 8+ employees seeking training on the same topic?

Talk to us about an on-site/in-house & customised solution.

Get all the latest on Informa news and events

Informa Connect Australia is the nation's leading event organiser. Our events comprise of large scale exhibitions, industry conferences and highly specialised corporate training.

Find out more

COVID-19 Informa Connect Update + Policy
Learn More