Manage the vessel nomination and acceptance process against charter party and contract of sale requirements.
Oil, Gas & Energy
Physical Oil Trading Operations from Nomination to Laytime and Demurrage Claims
Run physical oil trading operations end to end, from vessel nomination and charter party terms through laytime calculation to preparing and negotiating demurrage claims.
🗓️Duration5 training days
📚Content4 modules · 8 sessions
🎓On completionAccredited attendance certificate
About the programme
Course Overview
A physical oil trade is only as good as its execution, and a well-negotiated contract can still lose money if the nomination, laytime and demurrage process behind it is handled poorly. This course follows a cargo through the operational sequence that turns a signed contract into a completed, paid delivery: vessel nomination and acceptance against charter party terms, notice of readiness and the laytime clock it starts, cargo inspection and quantity determination against API MPMS and related measurement standards, and the bills of lading and documentation flow that must match the physical movement of the cargo. Participants work through laytime calculation under different charter party clauses, including weather working day and Sundays/holidays provisions, and the preparation, negotiation and time-bar management of demurrage and despatch claims. Sessions also address ship and shore quantity discrepancies, independent surveyor coordination, and how operations teams work with traders, terminals and counterparties to keep a cargo moving without dispute. Teaching uses laytime calculation exercises, sample charter party clauses and a demurrage claim negotiation simulation. Participants leave able to run a cargo operationally from nomination to final claim settlement.
Expected Learning Outcomes
Calculate laytime under different charter party clauses, including weather working days and Sundays/holidays terms.
Verify cargo quantity and quality using API MPMS procedures and independent surveyor reports.
Reconcile ship and shore quantity figures and identify the causes of a material discrepancy.
Prepare a demurrage or despatch claim supported by the statement of facts and laytime calculation.
Negotiate a demurrage claim with a counterparty while respecting contractual time bar provisions.
Coordinate documentation flow, including bills of lading and certificates, so it matches the cargo's physical movement.
Who Should Attend
Oil trading operations and post-trade execution staff managing cargoes from nomination to completion.
Chartering and shipping desk staff who nominate vessels and administer charter party terms.
Demurrage analysts and claims handlers preparing and negotiating laytime and demurrage claims.
Terminal and port agency staff coordinating cargo operations with traders and vessel operators.
Trade finance and documentation staff who process bills of lading and shipping documents for cargo payment.
Junior traders and operations analysts new to the physical execution side of oil trading.
Course Modules
Select any module to see its sessions and points.
01From Contract to Vessel Nomination
2 sessions · 8 points
Session 1Contract Terms That Drive Operations
- Identify the contract of sale and charter party terms that determine operational obligations for each party.
- Explain how Incoterms 2020 delivery terms affect risk transfer and operational responsibility for a cargo.
- Distinguish voyage charter from time charter arrangements and their effect on operational control of the vessel.
- Map the operational milestones a trading desk must track from contract signature to cargo completion.
Session 2Vessel Nomination and Acceptance
- Nominate a vessel that meets the contract's specifications for age, class, size and flag requirements.
- Assess a counterparty's vessel nomination against contract and charter party acceptance criteria.
- Coordinate substitute vessel nomination when an originally nominated vessel becomes unavailable.
- Confirm berth, terminal and port agency arrangements ahead of a nominated vessel's arrival.
02Laytime, Notice of Readiness and Cargo Operations
2 sessions · 8 points
Session 1Notice of Readiness and the Laytime Clock
- Determine when a valid notice of readiness can be tendered under the charter party's terms.
- Identify the events, including free pratique and readiness surveys, that must occur before laytime begins.
- Apply weather working day and Sundays/holidays excepted clauses when calculating laytime allowed.
- Record time used and time exceptions accurately in the statement of facts as loading or discharge proceeds.
Session 2Cargo Inspection and Quantity Determination
- Coordinate independent surveyor attendance for quantity and quality determination at load and discharge.
- Apply API MPMS procedures for tank gauging, temperature correction and quantity calculation.
- Reconcile ship figures against shore figures and investigate the cause of any material discrepancy.
- Resolve quality disputes using contractual sampling and analysis procedures before cargo acceptance.
03Laytime Calculation and Claims Preparation
2 sessions · 8 points
Session 1Calculating Laytime and Demurrage
- Calculate laytime used against laytime allowed using the statement of facts and charter party terms.
- Determine whether a voyage results in demurrage owed to the owner or despatch owed to the charterer.
- Apply interruption and exception clauses correctly when a delay is caused by weather, strikes or port congestion.
- Cross-check laytime calculations against port logs and vessel records before finalising a claim position.
Session 2Preparing and Supporting a Claim
- Assemble the statement of facts, notice of readiness and supporting documents needed for a demurrage claim.
- Identify time bar clauses and submission deadlines that could invalidate an otherwise valid claim.
- Quantify a demurrage claim accurately, including applicable rate, currency and any agreed deductions.
- Anticipate counterparty objections to a claim and prepare supporting evidence in advance.
04Negotiation, Disputes and Continuous Improvement
2 sessions · 8 points
Session 1Negotiating Demurrage and Despatch Claims
- Negotiate a demurrage claim settlement that reflects the strength of the supporting documentation.
- Respond to a counterparty's counter-calculation with a documented, point-by-point rebuttal.
- Escalate an unresolved demurrage dispute through arbitration or expert determination where the contract allows.
- Balance commercial relationship considerations against the full recovery value of a demurrage claim.
Session 2Improving Operational Performance
- Review recurring causes of demurrage, such as port congestion or documentation delay, across recent cargoes.
- Feed operational lessons back into future charter party negotiations to reduce avoidable demurrage exposure.
- Track claim settlement performance to identify patterns in counterparty payment or dispute behaviour.
- Build checklists and templates that standardise documentation and reduce operational error on future cargoes.
What the participant receives
4 course modules
A structured syllabus
8 training sessions
across 5 days
32 detailed points
Applied, detailed content
Accredited attendance certificate
On completing the programme
Complete your registration
We will contact you within one business day to confirm.
Ready to start?
Reserve your seat and start building the skill.