a full chronicle of a spot tanker voyageŸι... · •controlled 90% by chartering ... fixture note...
TRANSCRIPT
“A Full Chronicle of a Spot Tanker Voyage”
By Nikos Stasinopoulos
University of Piraeus Maritime Studies Department
By Nikos Stasinopoulos
A Full Chronicle of a Spot Tanker Voyage
Nikos Stasinopoulos Commercial Operator
OSG Ship Management (GR) Ltd.
By Nikos Stasinopoulos
A Full Chronicle of a Spot Tanker Voyage Contents
1. Introduction - Spot Market - Customers /Charterers
2. Preparation for Fixture
3. Voyage – CP – Recap
4. Prepare the Vessel
5. Cargo Operations
6. Revenue - Post Fixtures
7. Negotiations and Closure of the Voyage
By Nikos Stasinopoulos
A Full Chronicle of a Spot Tanker Voyage Introduction
What determines the markets:
• Cargoes (Clean – Dirty)
• Type Chartering (Time-Spot)
• Type of Ships
• Trading Patterns
By Nikos Stasinopoulos
Introduction
Market Stakeholders
Cargo Cargo Buyers Cargo Owners Cargo Receivers Carriers
A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
Introduction
Market Stakeholders
Cargo Cargo Buyers Cargo Owners Cargo Receivers Carriers
• OPEC (70%) • Oil Majors
A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
Introduction
Market Stakeholders
Cargo Cargo Buyers Cargo Owners Cargo Receivers Carriers
• OPEC (70%) • Oil Majors
• Commodity Traders • Oil Majors • Governments • Refineries • National Oil Companies
A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
Introduction
Market Stakeholders
Cargo Cargo Buyers Cargo Owners Cargo Receivers Carriers
• OPEC (70%) • Oil Majors
• Commodity Traders • Oil Majors • Governments • Refineries • National Oil Companies
A Full Chronicle of a Spot Tanker Voyage
• Shipping Companies • Oil Companies (small fleet)
By Nikos Stasinopoulos
Introduction
History Review
A Full Chronicle of a Spot Tanker Voyage
The Oil majors: •Located, extracted, stored, transported, refined and distributed the refined product.
•Owned about 40% of the tanker fleet
•Controlled 90% by chartering
•Produced & transported 80% of the world’s oil.
By Nikos Stasinopoulos
Introduction
History Review
A Full Chronicle of a Spot Tanker Voyage
The Oil majors: •Located, extracted, stored, transported, refined and distributed the refined product.
•Owned about 40% of the tanker fleet
•Controlled 90% by chartering
•Produced & transported 80% of the world’s oil.
Vertical Integration
By Nikos Stasinopoulos
Introduction
History Review
A Full Chronicle of a Spot Tanker Voyage
• Nationalisation of the oil by the Producer countries: eg. Iran 1951. Saudi Arabia owns ARAMCO. Kuwait Oil Company in 1976
By Nikos Stasinopoulos
Introduction
History Review
A Full Chronicle of a Spot Tanker Voyage
• Nationalisation of the oil by the Producer countries: eg. Iran 1951. Saudi Arabia owns ARAMCO. Kuwait Oil Company in 1976
The Oil Major producers
→ Tanker Owners
→ market refined petroleum
By Nikos Stasinopoulos
Introduction
History Review
A Full Chronicle of a Spot Tanker Voyage
Middle East Crisis:
1973 - Egypt, Jordan, and Syria invade Israel
USA supports Israel
OPEC “Punishes” West price of oil
Western countries → immediate recession
Between 1973-1979 - Oil price $13 $39/bbl
1979 Revolution in Iran - Oil price over $40/bbl
14
By Nikos Stasinopoulos
Introduction
History Review
A Full Chronicle of a Spot Tanker Voyage
Middle East Crisis: Industrialised nations seek oil from non OPEC sources, new fields open up e.g. Alaskan slopes, North sea Reduction in consumption of oil in industrialised countries Volatile and uncertain oil prices, lack of market stability
By Nikos Stasinopoulos
Introduction
History Review
A Full Chronicle of a Spot Tanker Voyage
Middle East Crisis Results: Independent traders and spot market - over 60 % oil trade
Oil majors stake in oil production 14% (from 63%)
Oil majors tanker ownership 12% of world tanker fleet (from 40%)
By Nikos Stasinopoulos
Introduction A Full Chronicle of a Spot Tanker Voyage
SPOT MARKET in Shipping Is the market where the fixtures are made on Voyage basis. Voyage Charter Party Freight on WS Freight on Lump Sum
From port to port specifically nominated.
By Nikos Stasinopoulos
Introduction
Tanker Types
A Full Chronicle of a Spot Tanker Voyage
Crude ULCC >300,000 dwt
VLCC 150 – 299,999 dwt
Suezmax 100 – 149,999 dwt
Aframax 50 - 99,999 dwt
Products Handymax 38-50,000 dwt
Handysize 27-38,000 dwt
Sub handysize 10-27,000 dwt
By Nikos Stasinopoulos
Introduction
Typical Product Tanker
A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
Introduction
Typical Product Tanker
A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
Preparation of Voyage
Preparation of Voyage
A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
Preparation of Voyage A Full Chronicle of a Spot Tanker Voyage
Chartering Dpt.
1. Set the position of the sub vessel
2. Try to find cargo to be loaded in a convenient port
3. Cooperation with the brokers
Information is necessity
Documents should be available
By Nikos Stasinopoulos
Preparation of Voyage A Full Chronicle of a Spot Tanker Voyage
Preparation of Voyage
• Q88
• Crew Matrix
• Flag Certificates
• Class Certificates
• OCIMF Sire
• Additional information for intakes (drafts etc)
By Nikos Stasinopoulos
Preparation of Voyage A Full Chronicle of a Spot Tanker Voyage
Preparation of Voyage
• Chartering puts the vessel on subs
Both parties are in exclusive negotiation
Subs are lifted
You have a fixture – take care of it ! ! !
By Nikos Stasinopoulos
Voyage – CP - RECAP A Full Chronicle of a Spot Tanker Voyage
Voyage – CP - RECAP
By Nikos Stasinopoulos
Voyage – CP - RECAP A Full Chronicle of a Spot Tanker Voyage
Voyage – CP - RECAP
1. Fixture Note
By Nikos Stasinopoulos
Voyage – CP - RECAP A Full Chronicle of a Spot Tanker Voyage
Voyage – CP - RECAP
1. Fixture Note Charterer: Big Charterer
Vessel: M/T Carrier
Cargo: min 37,000 mtons CPP cargo cpp
Load: 1-2 ARA
Disch: 1-3 EC Mexico/USG, 1-3 USAC/Caribs (NO
Westcoast Option)
Laycan: 06-08 January 2013
Rate: WS 95 ECMexico/USG, WS 105 USAC/Caribs
Demurrage: $18,000 PDPR
Broker: Big Brokers Co.
By Nikos Stasinopoulos
Voyage – CP - RECAP A Full Chronicle of a Spot Tanker Voyage
Voyage – CP - RECAP
1. Fixture Note
2. RECAP
By Nikos Stasinopoulos
Voyage – CP - RECAP A Full Chronicle of a Spot Tanker Voyage
Voyage – CP - RECAP
1. Fixture Note
2. RECAP
Amendments of Main Body of CP
plus
Additional Clauses
By Nikos Stasinopoulos
Voyage – CP - RECAP A Full Chronicle of a Spot Tanker Voyage
Voyage – CP - RECAP
1. Fixture Note
2. RECAP
3. Voyage Orders
By Nikos Stasinopoulos
Voyage – CP - RECAP A Full Chronicle of a Spot Tanker Voyage
Voyage – CP - RECAP
1. Fixture Note
2. RECAP
3. Voyage Orders
Specify: Cargo - Port – Agents etc
By Nikos Stasinopoulos
Voyage – CP - RECAP A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
Prepare the Vessel A Full Chronicle of a Spot Tanker Voyage
Prepare the Vessel
By Nikos Stasinopoulos
Prepare the Vessel A Full Chronicle of a Spot Tanker Voyage
Prepare the Vessel
Tank Cleaning Procedure
Check the previous cargo – this cargo
Avoid the contamination of next cargo
By Nikos Stasinopoulos
Prepare the Vessel A Full Chronicle of a Spot Tanker Voyage
Bunkers
Check the ROB quantities
Are they sufficient for this performance?
Bunkers supply (place, price, options)
By Nikos Stasinopoulos
Prepare the Vessel A Full Chronicle of a Spot Tanker Voyage
Agents
Agency appointment
- Protective agent in port
- Assisting Master in port
- Coordination
By Nikos Stasinopoulos
Prepare the Vessel A Full Chronicle of a Spot Tanker Voyage
Ballast Leg
- Monitor vessel’s performance to catch the laycans
- Always monitor Speed & Consumption
- Always be in line with CP
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Cargo Operations
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
EOSP
NOR
Pilots – Tugs – Mooring - Berthing
Hose Connected
Commence Loading
Complete Loading
Tugs - Unmooring – Unberthing - Pilots
COSP
Arrival at Loadport
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Vessel’s Arrival
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Pilot’s embarkation
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Pilot’s embarkation
Towage
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Pilot’s embarkation
Towage
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Pilot’s embarkation
Towage
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Pilot’s embarkation
Towage
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Pilot’s embarkation
Towage
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Mooring
By Nikos Stasinopoulos
Cargo Operations
Product Tanker Manifols
A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
Cargo Operations
Typical Cargo Oil Tank (COT) Arrangement
A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
EOSP
NOR
Pilots – Tugs – Mooring - Berthing
Hose Connected
Commence Loading
Complete Loading
Pilots – Tugs – Unmooring - Unberthing
COSP
SOF at Loadport
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
EOSP
NOR
Pilots – Tugs – Mooring - Berthing
Hose Connected
Commence Loading Agreed laytime *
Complete Loading
Tugs - Unmooring – Unberthing - Pilots
COSP
*Exceeding Laytime = Demurrage
En route to disport on laden condition
SOF at Loadport
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Laden Leg
- Avoid any delays
- Always monitor Speed & Consumption
- Always be in line with CP
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Discharging Orders
- Specify: Port – Agents – Cargo Receivers etc
- Check the BLs and evaluate the Chrtrs reputation
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Agents at Disport
Agency appointment
- Protective agent in port
- Assisting Master in port
- Coordination
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
EOSP
NOR
Pilots – Tugs – Mooring - Berthing
Hose Connected
Commence Discharging
Complete Discharging
Tugs - Unmooring – Unberthing - Pilots
COSP
Arrival at Disport
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
EOSP
NOR
Pilots – Tugs – Mooring - Berthing
Hose Connected
Commence Discharging Agreed Laytime*
Complete Discharging
Tugs - Unmooring – Unberthing - Pilots
COSP
*Exceeding laytime = Demurrage
Arrival at Disport
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Cargo Pumping
System Arrangement
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
Cargo Pumps
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
EOSP
NOR
Pilots – Tugs – Mooring - Berthing
Hose Connected
Commence Discharging
Complete Discharging
Tugs - Unmooring – Unberthing - Pilots
COSP
*Ready for her next voyage
Departure from last Disport
By Nikos Stasinopoulos
Cargo Operations A Full Chronicle of a Spot Tanker Voyage
By Nikos Stasinopoulos
A Full Chronicle of a Spot Tanker Voyage
Commencement of Sea Passage !!! (after discharging)
By Nikos Stasinopoulos
A Full Chronicle of a Spot Tanker Voyage
Commencement of Sea Passage !!! (after discharging)
Ready for her next voyage
By Nikos Stasinopoulos
A Full Chronicle of a Spot Tanker Voyage
Commencement of Sea Passage !!! (after discharging)
Ready for her next voyage
Do you think it’s been completed???
By Nikos Stasinopoulos
A Full Chronicle of a Spot Tanker Voyage
NO !!!
By Nikos Stasinopoulos
Revenue – Post Fixtures A Full Chronicle of a Spot Tanker Voyage
Who is collecting the Money?
By Nikos Stasinopoulos
Revenue – Post Fixtures A Full Chronicle of a Spot Tanker Voyage
Who is collecting the Money?
- Post Fixtures Dpt. will do!
By Nikos Stasinopoulos
Revenue – Post Fixtures A Full Chronicle of a Spot Tanker Voyage
Who is collecting the Money?
- Post Fixtures Dpt. will do!
Who pays for costs?
By Nikos Stasinopoulos
Revenue – Post Fixtures A Full Chronicle of a Spot Tanker Voyage
Who is collecting the Money?
- Post Fixtures Dpt. will do!
Who pays for costs?
- Accounting does
By Nikos Stasinopoulos
Revenue – Post Fixtures A Full Chronicle of a Spot Tanker Voyage
Who is collecting the Money?
- Post Fixtures Dpt. will do!
Who pays for costs?
- Accounting does (always on Ops Approval)
By Nikos Stasinopoulos
Revenue – Post Fixtures A Full Chronicle of a Spot Tanker Voyage
Revenue
- Freight
- Demurrage
By Nikos Stasinopoulos
Revenue – Post Fixtures A Full Chronicle of a Spot Tanker Voyage
Cost
- Port Cost (DAs)
- Charterers’ Account items
- Bunkers: part of voyage cost
but it should be managed separately.
By Nikos Stasinopoulos
Revenue – Post Fixtures A Full Chronicle of a Spot Tanker Voyage
Load port & Disport Costs (DAs)
- Agency fees
- Port dues
- Custom charges
- Pilotage
- Tugs
- Mooring Handlers
*Check for Charterers’ Items – Additional shifting expenses
By Nikos Stasinopoulos
Revenue – Post Fixtures A Full Chronicle of a Spot Tanker Voyage
Negotiations -> Agreement –> Receipt of Funds
Close the FDAs
If all in order the Voy is closed !
By Nikos Stasinopoulos
A Full Chronicle of a Spot Tanker Voyage
Thank you!
Any Questions ?