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  • PST0284
    Mastering OSV Charter Party & Marine Insurance



Scheduled Dates Location Cost Instructor  
10 Aug 2015  to  14 Aug 2015  Kuala Lumpur, Malaysia  SGD 5995  Anshuman Singh  

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Mastering OSV Charter Party Interpretation and Management
To ensure smooth and continuous operations in various offshore Exploration and Production activities, a steady fleet of Offshore Support Vessels (OSV) must be made ready available to provide all the necessary support. This can only be made possible by ensuring a well-scheduled and cost effective delivery of the vessels as determined by the detailed specifications drafted in the charterparty (C/P) contract.

 

The course will cover key contents in C/P contracts, interpretation of contract clauses, contract risk management and dispute resolution methods which are extensively practiced in the administration and management of OSV fleets and C/P contracts in today’s international upstream oil and gas industry. The next three days will provide practical OSV chartering course that will provide participants with a hands-on approach in reviewing and interpreting C/P contracts with a good understanding of essential contract laws currently practiced in the oil and gas industry. Participants will also learn how to draft contract terms and clauses while applying risk management strategies to insure the organization’s position in each C/P contract made and excel in managing and resolving maritime disputes arising from disagreement in contractual-clauses. Moreover, this course will also cover in greater detail the key terms and clauses of specific BIMCO contracts. Along the course, participants will be engaged with work exercises and case examples to reinforce their understanding of the concepts learnt.

 

Fundamentals of Marine Insurance Arrangement and Claiming
This two-day program will provide the key information for O&G offshore marine insurance arrangement and claiming. Day 1 will focus in providing the participants the common liabilities that need coverage, the industry best practices when it comes to arranging for insurance coverage, common pitfalls insurance arrangement, and the various insurance products available in the market. Day 2 will then focus on the step by step approach in marine insurance claiming in a way that insurance coverage are maximized. Participants will learn on the various parties that are involved during insurance claiming and the things to avoid in marine insurance claiming with sample studies where claims are rejected. After finishing the course, participants will be better equipped in making informed business decisions with regards to arranging for marine insurance and processing of claims for offshore projects.

The first program is designed for upstream professionals involved in utilizing, chartering and managing offshore vessels for offshore E&P activities. The second program is designed for upstream professionals those who deal with or those who need to know about the management of insurable risks in offshore operations.

  • Offshore Vessel Owners, Charterers,Shipbrokers
  • Contract Executives / Managers
  • Chartering Executives/ Managers
  • Procurement Executives / Managers
  • Marine Logistics Executives / Managers
  • Risk Control Managers
  • Supply Chain Executives/ Managers
  • PSCM Specialist
  • In-house Legal Counsels
  • Offshore Project Executives/ Managers
  • General Managers
  • Insurance Buyers

Mastering OSV Charter Party Interpretation and Management

  • GAIN a thorough understanding of the contents and clauses in a C/P contract
  • INTERPRET the significance of each clauses and EVALUATE their impact
  • IMPROVE the procurement processes involved in chartering of OSVs for E&P activities
  • DETERMINE the possible risks and exposures faced prior to establishing the C/P contract
  • SAFEGUARD the organization interests in each C/P contract by analyzing potential shortcomings
  • APPLY necessary insurance covers and risk management ways to protect the organization’s interest
  • MANAGE risk and RESOLVE disputes effectively to minimize loss of operational time and profit

 

Fundamentals of Marine Insurance Arrangement and Claiming

  • GAIN the knowledge of the key aspects when considering and selecting insurance coverage for offshore operations
  • KNOW the common insurance products available in the market
  • ANALYZE the limitations of typical insurance coverage by understanding the various types of risks and liabilities
  • APPLY industry’s best practices when it comes to arranging for and buying of insurance
  • LEARN the different stages in making an insurance claim
  • UNDERSTAND in detail the various incident types in preparing for insurance claims
  • IDENTIFY and AVOID common pitfalls and mistakes when making insurance claims to prevent claim rejection

Mastering OSV Charter Party Interpretation and Management (10th - 12th Aug 2015)

DAY 1: OSV CHARTER PARTY - NEGOTIATION AND CONTRACT DRAFTING

  • Introduction
  • Offshore Support Vessels – Fundamentals chartering concepts
  • The roles of owners, charterers, customers, insurers/P&I Clubs, brokers, other contractors and governments
  • Legal Jargons and Terminologies Explained
  • Key Issues in OSV Chartering Contract Negotiation
  • OSV Charterparties and Forms
  • Special Focus – BIMCO’s Supplytime 2005

CASE STUDY : Applying and comparing the BIMCO Supplytime 2005 Agreement and an alternative OSV Chartering Agreement to an AHTS

 

DAY 2: OSV CHARTER PARTY - LEGAL AND COMMERCIAL CONSIDERATIONS

  • Legal Considerations in OSV Chartering

CASE STUDY : The Piper Alpha and the Deepwater Horizon disasters

  • Commercial Considerations in Chartering Offshore Support Vessels

CASE STUDY : Hurricanes and pirate attacks during the term of a charter

  • Bareboat charter agreements for OSVs

CASE STUDY : Bareboat charter agreements

  • Special Applications

 

 

DAY 3: OSV CHARTER PARTY - BIMCO CONTRACTS

The 3rd day will cover in greater details key terms and clauses in the following BIMCO contracts:

  • Supplytime 2005
  • Supplytime 89
  • Towcon
  • Towhire
  • Bargehire

 

Fundamentals of Marine Insurance Arrangement and Claiming (13th - 14th Aug 2015)

DAY 4: FUNDAMENTALS OF MARINE INSURANCE

  • Introduction to Marine Insurance for Offshore Projects
  • Types of Insurance Coverage
  • Fundamentals of Marine Insurance Products (Format and Extent of Coverage)  or Incidents
  • Common Liabilities
  • Indemnities and Risk Allocation
  • Industry Best Practices

GROUP WORK : Given a list of offshore operational activities, identify the different types of risks and liabilities, and the types of insurance coverage that you will you need.

CASE STUDY : Macondo Drilling Incident/DeepWater Horizon. Present the
implications of the 2010 incident to today’s insurance policies.

 

 

DAY 5: MARINE INSURANCE CLAIMING

  • Introduction to the Different Stages of a Claim
  • Legal Liabilities and Legal Procedures – Jargons Explained
  • Parties to a Casualty

GROUP WORK : Given a a synopsis of an incident, prepare the list of initial information that you will need to file for an insurance claim. Identify from which parties you will need these information.

  • P&I Emergency Response
  • Reporting of a Casualty
  • Role of Salvor
  • Pitfalls to Avoid in Marine Insurance Claiming

Closing : Developing Risk-Based Approach in Arranging for Insurance and Contracts

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