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05-12-2019 (Singapore)

P52305 Advanced Bunker Risk Management
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Advanced Bunker Risk Management

5 – 6 December 2019 | Mandarin Orchard Hotel, Singapore

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Register 2 Delegates & the 3rd attends FREE!

overview

 Key Learning Outcomes

  • Review bunker operations – key procedures and documentations
  • Bunkering quantity risks and disputes management
  • Foundation of bunker credit risks and fuel price risk hedging
  • Bunkering quality risks management and post-2020 considerations
  • Key considerations for charter parties running beyond 2020
  • Reworking key clauses in bunker supply contracts
  • Claims management and resolutions in bunkering disputes
  • Insurance, P&I considerations

 Who Should Attend

This workshop will benefit anyone involved in bunker supply, trading, sale and purchase and MFM operations including

  • Bunker suppliers & traders
  • Shipowners, operators and managers
  • Charterers & shippers
  • Vessel officers
  • Shipping & port agents
  • Bunker port and terminal operators
  • Marine law enforcement
  • P&I clubs and insurers
  • Lawyers and In-house legal counsels

What Past Attendees Say About Our Maritime Academy

Trainer is knowledgeable and a great communicator. Very helpful learning on arbitration and mediation
Mohammad Nazrin, Operations Supervisor, Chevron Singapore

Enriching learning experience and very applicable for the future charterparty contracts
Lincoln Ong, Operations Executive, Millennium Oil

The various perspectives discussed and case studies provided are very helpful in managing Bunkering and MFM disputes
Tan Hock Meng, Business Development Manager, Metcore International

Programme’s content is very well developed, good size of participants, great interaction with trainers and attendees over 2 days
Gomes Kevin Mark, Operation Executive – Marine, Singapore Petroleum Company

A lot of knowledge is shared on blending and bunker operations, including the economics and legal issues
Nakai Kauki, Trading Manager, Marubeni International Petroleum

pricing

Packages Price
2 Day TrainingSGD $3495SGD $3295Early BirdEarly Bird

Early Bird Rate: Register and Pay on or before 11 October 2019

Register 2 Delegates & the 3rd attends FREE!
Group rate is based on normal rate of 2-day main conference package only.
For Group Registrations, email register@ibcasia.com.sg or call +65 6508 2401

 

  • Special Group Discount pricing is applicable to groups of 2 or more delegates from the same organisation registering for the same event, at the same time.
  • Fee stated is the discounted price PER DELEGATE. Only one discount applies – either the early bird rate OR the Special Group Discount.
  • All fees stated include luncheons, refreshments and complete set of documentation. It does not include the cost of accommodation and travel.
  • A 7% Goods & Services Tax (GST) is applicable to all Singapore based companies for Singapore venue.
  • View payment terms and bank transfer details, click here »

Trainer

Jonathan Lux
Founder, Lux Mediation

Founder of Lux Mediation, Jonathan Lux is globally regarded as one of the leading experts in Maritime Law. Jonathan has particular expertise in bunkers and has co-authored various textbooks on bunkering industry. A former Council Member of IBIA, he coordinated IBIA working group on dispute resolution. His 40 years’ experience in dispute resolutions include a wide range of disputes including complex, high-value and international matters especially within Trade & Maritime industry, but also various other industries including.

Jonathan has been awarded with Global Shipping & Maritime Lawyer of the Year by Who’s Who Legal. He had also been featured in Lloyd’s List of Top Ten Legal Personalities and was a finalist for the Lloyd’s List Global Shipping & Maritime Lawyer of the Year.

Jonathan has provided mediation, litigation, arbitration services in many diverse areas of shipping and maritime law including; cargo claims, charterparty disputes, insurance & P&I issues, shipbuilding, ship sale & purchase, personal injury, professional negligence, salvage & treasure salvage and commercial fraud. These have related mostly to international disputes spanning across the world. The parties coming to mediation include underwriters, the major P&I Clubs, bunker suppliers, ship owners, charterers, cargo interests, classification societies, banks and shipbuilders.

Jonathan is a director of the London Shipping law Centre and is a titulary member of the CMI. He is also one of the founder members of the Centre for Effective Dispute Resolution (CEDR) and is well known for the use of the Alternate Dispute Resolution (ADR) principle in resolving cases. His wise guidance, flexible approach and excellent communications skills make him the right choice for both complex and more straightforward mediation cases.

Jonathan is fully accredited by and a member of the International Mediation Institute and a Fellow of the Chartered Institute of Arbitrators. He has lectured worldwide and written numerous articles on the subject of mediation.

Agenda

OVERVIEW OF MARINE FUEL MARKET AND RISKS

  • Regulatory environment
  • Desulphurisation and implications on involved parties (charterers, shipowners, bunker suppliers and bunker traders)
  • ISO

EXERCISE: REWORKING BUNKER SUPPLY AGREEMENT

  • Review of bunker contracts, standards and procedures
  • Common issues overlooked and available remedies
  • Negotiating & drafting bunker contract – key terms and clauses
    • Price, payment & delivery
    • Quality, quantity and sampling
    • Force majeure and termination
    • Passing of risk and property
    • Safety and the environment
    • Dispute resolution and notice
  • Terms and conditions of sale
  • Clauses to consider for using MFM
  • IMO 2020 Clauses
  • Available contracts and comparison

BUNKER QUANTITY RISKS AND DISPUTES MANAGEMENT

  • Delivery malpractices
  • Legal issues arising from electronic bunker delivery notes
  • Supplier, charterer and buyer considerations
  • Post-delivery investigation procedures
  • Clauses to consider in using MFM
  • Quantity fraud in Non-MFM jurisdiction
  • Counter party due diligence – checklist for bunker buyers and sellers

QUALITY CLAIMS (INCLUDING IMO 2020 BUNKER RISKS)

  • Bunker quality risks
    • Off-specs fuels
    • Contamination
    • Compatibility
    • Machine damages
  • IMO 2020 and potential quality claims
  • Contractual provisions to note post-2020
  • Getting ready (guest speaker)
    • Vessel and On-Board Requirements
    • Supply side requirements
  • Compliance problems associated with marine scrubbers
  • BIMCO’s clauses on compliant fuel and transitional period

CASE STUDY: ENSURING PROPER DELIVERY PROCEDURES FOR EFFECTIVE RISK MANAGEMENT

  • Procedures
  • Documentations
  • Sampling and quantity determination
  • Bunker delivery note
  • Obtaining value from service providers (bunker surveyors, testing labs, brokers, lawyers, insurers etc)

PROVING AND RESISTING A CLAIM

  • Typical bunker claims
    • Short delivery
    • Off-specs
    • Non-payment
    • Bunker credit default
  • Handling claims
    • Orles, responsibilities, record keeping, mitigation
  • Preventive measures for minimising risks of claims
  • Manage inconsistencies during sampling procedures

BUNKER CREDIT RISKS

  • Finance in bunker businesses
    • Securitization
    • Optimise business capital
  • Bunker risks matrix
    • Price risk, credit risk, liquidity risks, basis risks, legal risks
  • Credit risk management
  • Understand energy price behaviours & credit risks
  • Payment delay and default

PRICING AND HEDGING METHODS (FUNDAMENTAL)

  • structure to successful hedging
  • derivative structures
  • cash flow management in funding derivative hedges
  • benefits of hedging linked to financing (bunker trader’s & ship owners’ perspectives)
  • option types, payoffs, risk management

THINKING AHEAD – CHARTERPARTY RUNNING BEYOND 2020 AND CHARTERPARTY POST-2020

  • Bunker supplies 2020: potential limits, price fluctuation
  • Obligations for charterers
  • Fitness for purpose
  • causation
  • Important bunker clauses on pricing
  • bunker clauses on quantity and grades on redelivery under time charters
  • vessel redelivery, fuel specification not covered under ISO 8217
  • obligations to remove non-compliant fuels in charterparty
  • Bunker purchase/repurchase upon delivery/redelivery (BIMCO)

DISPUTES, ARRESTS AND SECURITY – SOLICITOR/MEDIATOR’S PERSPECTIVE

  • Ship arrest as a remedy of non-payment of bunkers
  • Arrest bunkers and other assets
  • Mediation
  • Arbitration

RESOLVING DISPUTES

  • Non-compliant fuels claims
  • Financial loss claims
  • Dispute resolutions
  • Alternative dispute resolutions (ADR) in Legal & Claims Handling
  • Typical documentation in bunker disputes
  • Pros and cons of available options
  • Investigation, sampling and record-keeping
    • Insurance, P&I Considerations Losses from wrong supply, delayed time
    • Indemnities for non-compliance fines and detentions
    • Losses and claims due to fuel-related machinery damages

when & where

05 - 06 Dec 2019

Mandarin Orchard Singapore, by Meritus
333 Orchard Road, Singapore 238867
Tel: +65 6831 6062 | Fax: +65 6737 3130
Mobile No.: +65 8298 9442
Contact Person: Tan Ai Li
Email: aili.tan@meritushotels.com
Website: www.meritushotels.com

On-site & in-house training

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