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NSA 2521 Shipping Management

APPLIES TO ACADEMIC YEAR 2016/2017

NSA 2521 Shipping Management


Responsible for the course
Cathrine Bjune

Department
Department of Law

Term
According to study plan

ECTS Credits
7,5

Language of instruction
English

Introduction
This course offers a thorough introduction to shipping management. The students will learn about different types of ships and their trades. The practice and economics of international shipping is covered.The course covers the market for different ships and cargoes, ships types and trades, and the drivers of the markets. The focal point is the operation of the ship. The course focuses on the deployment of ships and the different contracts used for such purposes. The practical procedures of ship deployment and chartering is covered, including how to make money on the vessel trough operating it in the different markets. How to calculate ships costs, revenues and profits or losses is covered. The students will learn the basics of chartering and different contracts used for ship deployment. The students will learn to find, use and interpret standard charter parties and contracts of affreightment. This incudes bare boat chartering, voyage chartering and time chartering of vessels. Through voyage calculations and practical case work the students will learn to analyze profits and losses when operating the ship in the market. Common concepts such as chartering, demurrage, lay can and options will be discussed. The operation of the ship, including the various functions of the parties involved and third party ship management is covered. So are the rules applicable to ship management, such as the ISM code and flag state and port state laws. The correlation between world trade and the need for and use of ships will be explained. Basic insurance covers for ships and impact on shipping management is covered.

Learning outcome
Acquired knowledge
After completing the course students shall have:

  • An understanding of the different shipping markets
  • Knowledge of the different ship types, categories and cargoes.
  • Understand the drivers for demand and supply of ships and cargoes
  • An understanding of world trade and the effect on shipping
  • An understanding of different charter parties and contracts of affreightment
  • Basic chartering and voyage calculations
  • Demurrage and despatch calculation
  • The cost elements of shipping
  • The division of costs and liabilities between charterer and owner
  • Fleet positioning and fleet management
  • Ship routing and use of ports and third party providers
  • Basic marine insurance

Acquired skills
After completed course students will be able to:
  • Explain the relationship between demand and supply for shipping services,
  • Discuss basic principles of rate making.
  • Analyze the freight markets and mechanisms of freight setting
  • Being able to interpret and use charter parties
  • Understand and perform voyage calculations and demurrage calculations
  • Reflect on the dynamics of shipping business cycles in an economic perspective.

Reflection
During the course students should develop recognition of shipping’s role in society, shipping’s role in the world economy and be able to reflect on shipping’s responsibility to the environment. They will know how to operate a ship in order to calculate profits and losses and the importance for securing safe and environmentally viable shipping services across the world. They will also know the mechanisms behind the operation of a ship, and how to calculate a profit or loss when offering shipping services, as well as how to plan ahead and which contract types to use for the deployment of ships.

Prerequisites
None

Compulsory reading
Books:
Falkanger, Thor, Hans Jacob Bull, Lasse Brautaset. 2011. Scandinavian maritime law : the Norwegian perspective. 3rd ed. Universitetsforlaget. Chapters 12, 13, 15,16,17,22
Stopford, Martin. 2009. Maritime economics. 3rd ed. Routledge. 2, 3, 4,5,9, 10,11,12, 13, 14


Book extract:
Gorton, Lars ... [et al.]. 2009. Shipbroking and chartering practice. 7th ed. Informa. Chapters 4,7. Relevant chapters are provided for the students in a study guide

Other:
Cathrine Bjune. 2016. study guide in shipping management. 1. BI. Selected chapters from reading list , articles for supplementary reading, case work and standard documents
Selected BIMCO standard documents on chartering. Documents will be made available to the students



Recommended reading
Books:
Grammenos, Costas Th., ed. 2010. The Handbook of maritime economics and business. 2nd ed. Lloyd`s List. ch 18

Course outline
  • Common contracts used for deployment of ships
  • Management of the vessels and fleet
  • Short term and long term contracts commonly used in shipping
  • Chartering of vessels and contracts used
  • The legal aspect of chartering
  • The costs elements in shipping
  • The principal shipping markets, the demand for and supply of shipping services
  • Shipping operations and trading routes
  • Revenues and costs in shipping
  • Understanding the dynamics of shipping business cycles
  • Understand the planning phase of ship management
  • Voyage calculation
  • Case work and summary

Computer-based tools
Students are advised to make use of computer-based tools in the course, for instance spreadsheets. At the examination, however, computer-based tools are not allowed.

Learning process and workload
The course will include a combination of lectures and plenary tutorials where solutions to exercises will be explained.

There will be mandatory hand-in assignments. The assignments will be in the form of small cases selected from textbooks and trade articles. Please note that whilst attendance is not compulsory, it is the students responsibility to obtain any information provided in class that is not included on the course homepage/It's learning or text book.

The students will be given a case to be worked on in groups or individually. Case will be presented to lecturer for review.

The following is an indication of the time required:
Activity
Hours
Lectures
36
Case work and explanations in class
9
Preparation for lectures and plenary tutorials
105
Preparation for hand-in assignment
10
Preparation for the final exam
40
Total recommended use of time
200



    Examination
    A three hour individual written exam concludes the course.
    Examination code(s)
    NSA 25211 - Written exam - counts 100% to the grading of the course NSA 2521 Shipping Management, 7,5 credits.

    Examination support materials
    All support materials + BI approved exam calculator. Examination support materials at written examinations are explained under examination information in the student portal @bi. Please note use of calculator and dictionary in the section on support materials (https://at.bi.no/EN/Pages/Exa_Hjelpemidler-til-eksamen.aspx).

    Re-sit examination
    Re-sit is offered every term.

    Additional information