How does it work at the Producer? His Fixed & Variable cost, Production cost, Transfer point from production to Sales, Internal pricing procedure, Financial or Commercial hedging and how is the Trader covering his Sales (Short trading) or is there an arbitration possiblity ? All this will be discussed.




Loading terminal

How will the finished product stored, Internal or External at a Public terminal? Internal storage (on-site) is mostly handled by dedicated systems, Are running tanks used?


External storage mostly has non-dedicated systems requiring special attention to quality issues. These implications are handled.


Sale & Purchase contracts

What are the key components of the Purchase & Sales contracts, the agreed Product, Quantity, Quality, Price, Currency, Payment terms, Delivery period, Delivery terms (FOB / CIF / CFR), Origin, INCOterms and Applicable law are key besides many more clauses. Product swaps (Geographical), VAT, Duties as well as A > B > C > D transactions, are discussed and Commercial contracts versus Transport and Storage agreements.


Contracting of transport

What is a Charterparty? Which type of Charterparties are used for which trade? How is a ‘Fixture’ concluded? Loadport, Dischargeport, Cargo, Quantity, Quantity option, Berths to be used, Freight, Demurrage, Law, are a few of the key details of a Fixture these and other related matters such as Nominations, STEM, Receivers approval and Freight payment clauses are discussed to clarify the complexity of Chartering cargo space.




Loading operation

When is Notice of Readiness given? The ‘Terminal – Cargosurveyor – Vessel’  link is pivotal as all should act on identical instructions, Supplier is not necessarily the Charterer so who will instruct who? Quantity agreement, Sampling of Shoretank, Shoreline check on previous product, are important matters the Cargo surveyor will act on. When was hose connected? all matters will be reviewed.

Quantity & Quality

Shoretank Measurement prior and after loading, Shoreline full or empty, Checking the quality at the ‘critical point’ of delivery, Final cleanliness inspection of the cargo tanks, Checking adjacent cargoes, 1e Foot sampling & testing, Upon completion of loading Ship’s sampling and measurement, Assessment of the loaded quantity (Bill of Lading) are all the duties of the Cargosurveyor while keeping an ‘online’ timeline of the operation with his principals. These matters will  be reviewed.


The function of the Bill of Lading as evidence of carriage or receipt of goods or as document of Title of the Goods will be discussed, the importance of the Surveyreport, Cert. of Origin, GSP certificate, Invoice, Import / Export license are the documents which will be reviewed. Who must take for the insurance of the goods? Besides a Cargo insurance what kind of insurance could be necessary? a Liability insurance, Increased value insurance, Charterers liability or a Creditinsurance. Documents & Letter of Credits are inextricably connected to each other.

Cargo transportation

Upon completion of loading the Vessel and Owners will transport and deliver the cargo as per the contracted terms such as Cargo heating, Nitrogen blanket. Owners should receive sealed loading samples and inhibitor certificate in the case of inhibited cargoes.




Discharge preparation

Shoretank / Line inspection or Measurement & Sampling, ‘Terminal – Cargosurveyor – Vessel’ link, Notice of Readiness, Bill of Lading presentation, Letter of Indemnity, Is vessel already on demurrage? Is Berth available?

Discharge operation

Ship’s measurement / Sampling / analysis, Manifold sampling, Empty Shoretank / Line quality checks, Backpressure, Empty cargotank certificate, disconnection hoses. Timeline comparison.

Receiving terminal

Preliminary Shoretank measurement, Comparison Received quantity versus Bill of Lading quantity. Shortage, Letter of Protest, Shoretank sampling / analysis and final Shoretank measurements and possible claims will be discussed in this module.

Commercial review

Purchase price, Sales price, Freight, Gross margin, Shortage, Laytime calculation, Demurrage, Miscellaneous cost, Paper hedge will be considered for a Net Margin calculation.