Posts Tagged ‘maritime training’
Difference between Demurrage and Detention
Estimated reading time: 6 minutes For those in the business of shipping, delays can be costly. It is common practice for ship-owners to charter vessels in return for freight. When calculating freight, ship-owners take into consideration the period of the charter. Therefore, where a ship-owner has calculated freight based on the time for which the…
Read MoreWhat is the International Safety Management (ISM) Code?
Estimated reading time: 5 minutes Global oil and gas terminals today are faced with multiple challenges. With the recent introduction of the IMO 2020 Regulation: Standards, Compliance and Outlook for Marine Fuels changing the global fuel supply chain, organisations are faced with the challenge of complying with an increasing number of rules, regulations…
Read MoreNotice of Readiness for Laytime Calculation (With Real-Life Case Study Example)
Estimated reading time: 5 minutes Laytime and demurrage are one of the most litigious issues in shipping. The terms in the contracts are tricky as it is commonplace that shipowners and charterers face delays in ports, leading to demurrage charges to be incurred. The vague wording in the charter party contracts also provide lots…
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