Course 06 of 20 · Freight and Shipping Desk Academy

Voyage Chartering & Fixture Negotiation

Stage B, Chartering and contract execution. Level 3 of 10.

Negotiating and recapping a single voyage fixture from first indication to fixture note, clause by clause, including subjects and their lifting.

120 chapters · 12 modules · every chapter one 8 to 10 minute explainer · builds on: Course 04, Course 05

Enrol or enquire See the 120 chapters
How a chapter is delivered

One chapter is one idea taken to the point of use

Each chapter covers one idea to the point where you can use it, and comes two ways: a narrated explainer, and a deep dive audio discussion of around thirty minutes that works the same material at depth.

Self-paced throughout, and the same chapters can be taught as a cohort. Chapters run in order: each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

12 modules · 120 chapters

Open any module for its full chapter list, in teaching order.

M0 The Fixture as the Desk's Core Transaction Ch 1-10
  1. What a Voyage Fixture Actually Commits Each Side To
  2. The Chartering Day: Orders In, Tonnage Out
  3. The Cargo Order as the Charterer Writes It
  4. Reading a Position List Against a Cargo Order
  5. Indications, Market Levels and Non-Binding Talk
  6. From Indication to Firm Offer: What Changes Legally
  7. The Broker in the Middle and the Chain Behind Him
  8. Principal, Disponent Owner and Who You Are Actually Fixing With
  9. The Negotiation Calendar: Validity, Time Zones and Expiry
  10. Anatomy of a Fixture From Enquiry to Signed Note
M1 The Firm Offer and the Counter Ch 11-20
  1. Writing a Firm Offer That Cannot Be Misread
  2. Validity Periods and the Offer That Expires at Noon
  3. The Main Terms Offer Versus the Full Terms Offer
  4. Counter-Offering: What a Counter Does to the Original
  5. Accept, Except and the Partial Acceptance Trap
  6. Running Two Negotiations on One Vessel
  7. Repeating an Offer Into a Moving Market
  8. Reserving the Right to Withdraw
  9. The Silent Period and What Happens When Nobody Replies
  10. Pricing Your First Offer Off the Counter You Expect
M2 Subjects and Their Lifting Ch 21-30
  1. What a Subject Is and Why Freight Runs On Them
  2. Subject to Stem: the Cargo That Must Exist
  3. Subject Shippers' and Receivers' Approval
  4. Subject Details and the Gap Before Full Terms
  5. Subject Management or Board Approval
  6. Subject to the Terminal Accepting the Ship
  7. Lifting Subjects: the Message, the Timing, the Order
  8. Failing Subjects and the Vessel That Is Suddenly Open
  9. The Subject Kept Alive Too Long
  10. A Worked Subject Lifting Sequence Against the Clock
M3 Main Terms: Vessel, Cargo and Ports Ch 31-41
  1. The Vessel Description Clause as a Warranty
  2. Describing Capacity and Performance Without Overpromising
  3. The Substitution Right and the Named Vessel
  4. Cargo Quantity and the More-or-Less Option
  5. Who Holds the Quantity Option and What It Is Worth
  6. Deadfreight: Charging for Space You Did Not Fill
  7. Load and Discharge Port Nomination
  8. Ranges, Options and the Geographic Spread You Just Sold
  9. Safe Port and Safe Berth as Promises
  10. Always Afloat, Not Always Afloat but Safely Aground
  11. Rotation, Part Cargoes and Sharing a Vessel
M4 Laycan and the Arrival Window Ch 42-50
  1. Laydays and Cancelling as Two Separate Dates
  2. Pricing a Laycan Spread
  3. Narrowing Laycan During Negotiation
  4. The Cancelling Date and the Charterer's Option
  5. Interpellation: Forcing the Charterer to Declare Early
  6. ETA Notices and the Approach Obligation
  7. Expected Ready to Load and the Honest Statement
  8. Missing Laycan: What the Fixture Already Decided
  9. Finding New Employment for a Cancelled Ship
M5 Freight, Payment and the Money Clauses Ch 51-61
  1. The Freight Clause: Rate, Basis and Unit
  2. Freight Earned, Discountless and Non-Returnable
  3. Prepaid Versus Collect Freight
  4. Payment Timing, Banking Days and the Remittance Clause
  5. Part Payment, Balance and the Final Freight Account
  6. Address Commission and Brokerage in the Fixture
  7. Taxes, Dues and the Cost Allocation Clause
  8. Loading and Discharge Cost Terms in One Line
  9. Overage, Extra Risk and the Additional Freight Items
  10. Bunker Clauses and Price Adjustment in a Voyage Fixture
  11. Currency, Conversion and the Invoice That Does Not Match
M6 Laytime and Demurrage as Negotiated Terms Ch 62-71
  1. Negotiating the Laytime Allowance, Not Counting It
  2. Reversible, Non-Reversible and Total Laytime
  3. Fixed Hours Versus a Loading Rate Per Day
  4. The Notice of Readiness Clause as Drafted
  5. WIBON, WIPON and the Words That Move the Clock
  6. Excepted Periods and the Exclusions You Just Agreed
  7. Setting the Demurrage Rate Against the Vessel's Day
  8. Despatch, Half Despatch and Giving Money Back
  9. Demurrage Time Bars and Documentation Clauses
  10. What a Laytime Clause Costs Before Anyone Counts It
M7 The Charter Party Form and Its Riders Ch 72-81
  1. Base Form, Rider Clauses and the Negotiated Document
  2. Choosing the Base Form for the Trade
  3. Reading an Owner's Pro-Forma Charter Party
  4. The Charterer's Rider Set and What It Is Trying to Move
  5. Order of Precedence Between Recap, Rider and Base Form
  6. Deleted Clauses and the Hole They Leave
  7. Otherwise as Per Last Fixture and Its Dangers
  8. Bills of Lading, Mate's Receipts and the Carriage Clause
  9. Cesser, Lien and the Owner's Security for Freight
  10. Arbitration, Governing Law and the Small Claims Procedure
M8 Risk, Liberty and Exception Clauses Ch 82-91
  1. The Exceptions Clause and What It Shifts
  2. War Risk Wording in a Voyage Fixture
  3. Ice, Strike and Port Closure Clauses
  4. Sanctions and Trading Limits in the Fixture
  5. Security, Inspection and Compliance Costs
  6. Deviation, Liberty and the Permitted Call
  7. Substitution, Sublet and Assignment Rights
  8. Both-to-Blame, General Average and the Incorporated Regimes
  9. Himalaya, Agency and the Protected Parties
  10. Stowage Responsibility and the Master's Authority
M9 The Recap and the Fixture Note Ch 92-100
  1. What a Recap Is For
  2. The Fields Every Recap Must Carry
  3. Checking a Broker's Recap Line by Line
  4. Discrepancies Between the Recap and What Was Agreed
  5. Clean Fixed and the Moment of Binding
  6. From Recap to Fixture Note to Charter Party
  7. Drawing Up the Charter Party Weeks After Fixing
  8. The Fixture Note in Evidence
  9. Handing the Fixture to Operations
M10 Negotiating for Value Ch 101-110
  1. Translating a Counter Into Dollars Per Day
  2. Which Clause to Concede and Which to Hold
  3. Sequencing a Negotiation So Value Settles First
  4. Negotiating From the Weak Side of the Market
  5. Negotiating Against a Charterer's Standard Terms
  6. The Repeat Counterparty and the Terms You Keep Winning
  7. Firm Offer Discipline and Desk Reputation
  8. Fixing Through a Broker Chain You Cannot See
  9. Private Terms, Market Reports and What Gets Repeated
  10. The Fixture You Should Have Walked Away From
M11 Working a Fixture End to End Ch 111-120
  1. A Worked Voyage Fixture, Part One: Order to Firm Offer
  2. A Worked Voyage Fixture, Part Two: Main Terms to Subjects
  3. A Worked Voyage Fixture, Part Three: Full Terms and Recap
  4. The Same Fixture With the Market Against You
  5. Rebuilding a Negotiation That Failed on Subjects
  6. The Clause Register for a Live Voyage Fixture
  7. Auditing Your Own Fixture Book for Recurring Concessions
  8. Where Fixture Negotiation Stops and Performance Begins
  9. What a Perfectly Negotiated Fixture Still Cannot Protect
  10. The Chartering Desk's Standing Playbook

The brochure gives each of these 120 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 6 of twenty

It stands alone, and it is also the entry point to the Freight and Shipping Desk Academy pathway.

Enrol or enquire See the whole pathway