Course 08 of 20 · Freight and Shipping Desk Academy

Time Charter & Period Employment

Stage B, Chartering and contract execution. Level 4 of 10.

The period employment obligation set: hire payment, off-hire, speed and consumption warranties, employment orders, redelivery and condition on return.

123 chapters · 11 modules · every chapter one 8 to 10 minute explainer · builds on: Course 04, Course 05, Course 06

Enrol or enquire See the 123 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

11 modules · 123 chapters

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

M0 The Period Bargain Ch 1-11
  1. What Changes When You Take a Ship for Time, Not a Voyage
  2. The Division of Running Costs Across the Period Bargain
  3. The Owner's Promise: A Ship Crewed, Fit and Continuously Available
  4. The Charterer's Promise: Lawful Orders, Fuel and Timely Payment
  5. Period, Trip and Bareboat: Three Ways to Take a Ship
  6. Back-to-Back Obligations When You Sit in a Charter Chain
  7. The Standard Period Forms and What They Argue About
  8. Rider Clauses Carry the Real Bargain
  9. The Period Charter Timeline from Fixture to Final Account
  10. Reading a Period Recap for Obligations, Not Rate
  11. The Route Through This Subject and the Threads Handed On
M1 Duration, Delivery and the Start of Hire Ch 12-22
  1. Defining the Period: Minimum, Maximum and Tolerance
  2. About, Approximately and the Owner's Declared Option
  3. Delivery Place, Delivery Range and the Notice Chain
  4. Laycan on a Period Fixture and the Cancelling Decision
  5. The Moment Delivery Happens and Hire Starts Running
  6. The On-Hire Survey and What It Puts on Record
  7. Bunkers on Delivery: Quantity, Grade and the Price Taken Over
  8. The Description Warranted at Delivery and Its Limits
  9. Certificates, Approvals and Documents Handed Over at Start
  10. The First Instalment and the Part Period at the Front
  11. Declaring an Option to Extend and the Deadline That Kills It
M2 Hire Payment Mechanics Ch 23-33
  1. The Daily Rate as a Continuing Payment Obligation
  2. Payment in Advance: Semi-Monthly, Monthly and the Due Date
  3. Building a Hire Invoice Line by Line
  4. Address Commission and Brokerage Inside the Hire Flow
  5. Permitted Deductions and the Clause That Allows Them
  6. Withholding a Disputed Sum Without Losing the Ship
  7. Late Payment, Grace Periods and Interest Running
  8. The Anti-Technicality Notice and How It Is Served
  9. Withdrawing the Ship: The Right, the Test and the Timing
  10. The Lien on Sub-Freights and Sub-Hires
  11. The Running Hire Account as a Control Document
M3 Off-Hire: The Clause and Its Arithmetic Ch 34-45
  1. Why Off-Hire Exists and What It Actually Suspends
  2. Net Loss of Time Against Period Off-Hire Wording
  3. The Causes a Standard Off-Hire Clause Names
  4. Partial Off-Hire When the Ship Slows but Keeps Going
  5. Machinery Breakdown: Proving the Cause and Counting the Time
  6. Crew Deficiency, Industrial Action and Detention
  7. Dry-Docking and Scheduled Interruptions to Service
  8. Deviation for the Owner's Own Purposes
  9. Working a Full Off-Hire Calculation End to End
  10. Bunkers and Port Costs Consumed While Off-Hire
  11. Presenting and Resisting an Off-Hire Deduction
  12. When Interruption Becomes Termination
M4 Speed and Consumption Warranties Ch 46-58
  1. What a Performance Warranty Actually Promises
  2. Reading the Description: Speed, Burn, Grade and Trim
  3. About in a Speed Figure and the Margin It Buys
  4. Good Weather as a Defined Condition
  5. Wind Force and Sea State: Which Scale Governs
  6. Noon Reports as Evidence and Where They Fail
  7. Independent Weather Routeing Reports and the Clause Admitting Them
  8. Choosing the Sample: Which Hours Count
  9. Calculating Time Lost to Underperformance
  10. Calculating Overconsumption Separately
  11. Currents, Slip and the Adjustments Owners Argue For
  12. Hull Fouling, Idle Time and the Owner's Defence
  13. A Warranty at Delivery Only or Throughout the Period
M5 Employment Orders and the Indemnity Ch 59-69
  1. The Employment Clause and the Order It Entitles You to Give
  2. Where the Master May Refuse an Order
  3. The Implied Indemnity for Following Charterer's Orders
  4. Lawful Orders That Still Cost the Owner Money
  5. Bills of Lading Signed Under a Period Charter
  6. Charter Terms, Transport Documents and the Gap Between Them
  7. Economic Steaming and Instructions About Speed
  8. Orders That Conflict with Class or Certification
  9. Recording an Order So It Can Be Proved
  10. Appointing Agents and Running Port Calls on Period Terms
  11. Communications, Reporting and the Operations Interface
M6 Trading Limits, Ports and Cargo Exclusions Ch 70-80
  1. Trading Limits as a Drafted Boundary
  2. The Safe Port Warranty and What It Guarantees
  3. Unsafe in Prospect Against Unsafe in Fact
  4. Ice Clauses and Seasonal Restrictions on Trade
  5. War Risk Clauses and Refusing a Trade
  6. Trading Outside the Limits: Consent, Premium and Cover
  7. The Permitted Cargo Clause and Its Exclusion List
  8. Asking for a Cargo Waiver and What It Costs
  9. Who Does the Work: The Division of Cargo Handling
  10. Cargo Claims and the Inter-Club Allocation
  11. Sub-Chartering Out and the Liability That Stays
M7 Bunkers, Supplies and the Running Ship Ch 81-91
  1. Who Buys the Fuel and Who Burns It
  2. Minimum Quantities on Hand and Why They Are Set
  3. The Bunker Price Basis Written into the Charter
  4. Bunker Quality Clauses, Specification and Sampling
  5. Off-Specification Fuel: Lost Time, Debunkering and Liability
  6. Segregation, Compatibility and Tank Instructions
  7. Lubricants, Fresh Water and Stores: The Small Allocations
  8. Port Disbursements and Whose Invoice It Is
  9. Crew Overtime, Victualling and Agreed Allowances
  10. Consumption at Anchor and in Port
  11. Emissions-Linked Clauses in a Period Charter
M8 Maintenance, Condition and the Owner's Continuing Duty Ch 92-101
  1. Seaworthiness as a Duty That Does Not Expire at Delivery
  2. Due Diligence and the Limit of the Owner's Promise
  3. Planning Surveys and Maintenance Around Employment
  4. Hull Cleaning and Propeller Polishing: Who Calls It
  5. Crew Competence, Changes and Charterer Complaints
  6. Flag, Ownership and Certificate Changes Mid-Period
  7. Keeping the Ship Commercially Acceptable Through the Period
  8. Modifications and Charterer-Funded Fittings
  9. Inspection Rights During the Engagement
  10. The Record That Survives a Dispute Two Years On
M9 Redelivery and the Final Account Ch 102-112
  1. Redelivery Range and Narrowing to a Port
  2. The Last Voyage: Legitimate and Illegitimate Orders
  3. Overlap and Underlap: Choosing Which to Risk
  4. Late Redelivery and Damages at the Market Rate
  5. Early Redelivery and the Owner's Duty to Mitigate
  6. The Off-Hire Survey and the Condition Comparison
  7. Hold, Tank and Deck Condition on Return
  8. Bunkers on Redelivery and the Closing Fuel Settlement
  9. Building the Final Hire Statement
  10. Settling the Balance: Set-Off, Security and Time Bars
  11. Handing Over Logs, Records and Documents at the End
M10 Working the Whole Obligation Set Ch 113-123
  1. A Twelve Month Engagement, Part One: Fixture and Delivery
  2. A Twelve Month Engagement, Part Two: Six Months of Account
  3. A Twelve Month Engagement, Part Three: The Performance Claim Argued
  4. A Twelve Month Engagement, Part Four: Redelivery and the Balance
  5. The Charterer's Monthly Obligation Review
  6. The Owner's Monthly Obligation Review
  7. Where the Two Accounts Disagree and Why
  8. Comparing Two Period Offers on Obligations, Not Rate
  9. Defending a Period Commitment to Management
  10. What the Period Obligation Set Cannot Protect You From
  11. Carrying Period Obligations into a Multi-Shipment Commitment

The brochure gives each of these 123 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 8 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