Institute of Commercial Management | Qualification Subject

Shipbroking & Chartering Practices

This qualification is being withdrawn, the last available series to sit the assessment for this qualification is December 2024.

Introduction to Chartering and Shipbroking

  • Roles of shipbrokers and chartering agents
  • Benefits associated with the work of shipbrokers
  • Types and functions of shipbrokers
  • Types of charterparties
  • Functions associated with chartering

Chartering Activities

  • Chartering negotiations
  • Voyage and time charters
  • Chartering procedures
  • Offers and counter offers
  • Ethical considerations and market practices

Voyage and Time Charterparties

  • Voyage and time charterparties documentation
  • Differences between voyage and time charter activities
  • Elements and clauses of voyage charterparies
  • Elements and clauses of time charterparties

Voyage estimating

  • Benefits associated with the calculation of voyage estimates
  • Bunkers, ports and distances, load line zones
  • Techniques and approaches used in voyage estimate calculations
  • Applications of voyage estimates

Laytime calculations

  • Relevance of charterparties
  • Time sheets
  • Preparation of timesheets
  • Statement of facts
  • Applications and practical value of laytime calculations

Dry Cargo Chartering

  • Key features of dry cargo chartering operations
  • Types of ships and ship specifications
  • Vessel utilisation
  • Dry bulk cargo fleet and specifications
  • Types of dry bulk cargoes
  • Transport considerations of different types of dry cargo
  • Ports and key characteristics
  • Exporters and importers

Tanker Chartering

  • Differences between dry cargo chartering and tanker chartering
  • Sale and purchase activities
  • Role and contributions of charterparties
  • Elements of different contracts relating to tanker chartering
  • Characteristics of tanker chartering market
  • Factors affecting the operations of the market

Example Candidate Response Booklet

Example Candidate Response (ECR) Booklets are a source of crucial information for Centres and Candidates as they use real candidate responses. We ask Senior Examiners to comment on five or more responses in terms of why the mark was awarded with commentary about how to improve the answer (if necessary).

Recommended Reading

Main Text:

Shipbroking and Chartering Practice  - Gorton, Hillenius & Sadervam (Lloyd’s of London Press)

Indicative Text:

Alternative Text and Further Reading:

Sea Trading Vol. 3 W.V. Packard (Fairplay)

Bulk Carrier Practice Capt. J. Isbester (Nautical Institute)

Lloyd’s List