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TKC 2022

This document contains 8 questions for an examination on tanker chartering. Question 1 asks to select a suitable tanker for two sample voyages, draw profiles and annotate routes on a map. Question 2 discusses reversible laytime and exceptions to laytime. Question 3 asks to annotate sample routes on a map and describe weather. Question 4 describes the tanker fixing process and provides a fixture example. Question 5 prepares a voyage estimate and comments on charterer decision-making. Question 6 prepares a market report and describes potential trends. Question 7 discusses vetting a charterer and provides a bareboat fixture example. Question 8 drafts a Period, Trading Limits and Safe Places clause, discusses its terms, and relevance.

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Manmeet Singh Sandhu
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36 views

TKC 2022

This document contains 8 questions for an examination on tanker chartering. Question 1 asks to select a suitable tanker for two sample voyages, draw profiles and annotate routes on a map. Question 2 discusses reversible laytime and exceptions to laytime. Question 3 asks to annotate sample routes on a map and describe weather. Question 4 describes the tanker fixing process and provides a fixture example. Question 5 prepares a voyage estimate and comments on charterer decision-making. Question 6 prepares a market report and describes potential trends. Question 7 discusses vetting a charterer and provides a bareboat fixture example. Question 8 drafts a Period, Trading Limits and Safe Places clause, discusses its terms, and relevance.

Uploaded by

Manmeet Singh Sandhu
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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NOVEMBER 2022 EXAMINATION SESSION

TUESDAY 15th NOVEMBER 2022 – AFTERNOON

TANKER CHARTERING
Time allowed – three hours
Answer any FIVE questions – all questions carry equal marks
Please read the questions carefully before answering

1. Answer ALL parts of the question.

A Charterer has circulated market requirements to brokers as follows:

Quote
135,000 mt crude oil Nigeria/UKC 10/20 Sept
130,000 mt crude oil WAF/USAC early Sept
Unquote

Select ONE suitable tanker to offer for these employments.

a) Draw a profile and cross section of your chosen tanker type;


b) Label the main details and dimensions on your drawings;
c) Draw and fully annotate the selected route with port, country of load and
discharge on the world map provided to support your answer;
d) Using these routes indicate what weather conditions could be anticipated for
a vessel loading in September.

2. Answer BOTH parts of the question.

A shipbroker is drawing up a laytime clause for a DPP fixture loading a cargo of fuel
oil. The fixture will incorporate laytime using specific load and discharge rates.
Discuss the following:

a) Explain the principle of reversible laytime, its benefits and how this may be
applied to the fixture.
b) Describe TEN periods that are usually excepted from laytime.

PLEASE TURN OVER

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3. Answer ALL parts of the question.

Charterers have circulated in the market FOUR cargoes loading Central America to
USG/USNH/USWC and UK/Cont.

a) Annotate FOUR ports of loading and FOUR ports of discharge on the world map
provided and describe the route each tanker will use.
b) Add to the map proposed ports for taking bunkers.
c) Add a description of likely weather that may be experienced in June

4. Answer BOTH parts of the question.

a) Describe the tanker fixing process and what is meant by “lifting subjects”.
b) Provide an example of a fixture recap for a Handysize tanker with terms of your
choice.

5. Answer BOTH parts of the question.

A charterer has received an offer for an LR1 tanker in ballast from Rotterdam and ready
Houston to load 45,000 metric tons CPP for discharge Fawley, UK
a) Prepare a voyage estimate for this employment using data of your choice. (Show all
calculations).
b) Calculate the cost per metric ton of cargo and comment on the reasons why the
Charterer may decide to enter the market and fix.

6. Answer BOTH parts of the question.

Consider a scenario where the shipping market is on the point of being impacted by an
economic depression.
Your Principal has asked you to prepare the following report in which you must explain the
effects of this issue:

a) A monthly market report covering Aframax voyage and time charter employment;
b) As part of the report describe the potential trend in the Aframax market over the
next six months.

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7. Answer BOTH parts of the question.

A vessel has been fixed on a 15-year bareboat employment with a leading oil company.

a) Describe the process of vetting a charterer under this form of fixture


b) Provide an example of a bareboat fixture recap of your choice.

8. Answer ALL parts of the question.

An Aframax has been fixed on time charter using a Shelltime 4 charter party.

a) Draft a Period, Trading Limits and Safe Places clause for the above fixture;
b) Discuss the main terms used in this clause;
c) Discuss the relevance of this clause in the current market.

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