Chartering concepts
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This document provides an overview of chartering concepts and processes in the Indian oil industry. It discusses the history of chartering, different types of chartering agreements, and the typical chartering process. It also lists some common sources for chartering market reports, including assessments from the London Tanker Monthly Average, Baltic Exchange, and shipping brokers. The chartering process involves refineries determining crude oil requirements, securing supplies from indigenous and term sources, and chartering additional tankers on a time charter, voyage charter, or contract of affreightment basis to transport the balance of needed crude oil.
Chartering concepts
- 1. Chartering Concepts: Oil Industry Context - India
- 2. Agenda Chartering History Chartering Types Chartering Process Chartering Market Reports
- 3. Chartering History OCC Oil Cos Oil Cos Oil Cos 2 Chartering Import/Export 2002 2002 - 2005 2005 - 2007 2007 Transchart & SCI Transchart IOC/ Transchart Oil Cos
- 4. Chartering Types Time Charter Voyage Charter Bareboat Charter Contract of Affreightment
- 5. Chartering Process CRUDE INPUTS TO REFINERIES AS PER THEIR PROCESSING CAPABILITIES INDIGENOUS CRUDE AVAILABILITY AS PER CRUDE BASKET TERM REQUIREMENT FINALISED BALANCE SPOT REQUIREMENTS FINALISED 45-60 DAYS IN ADVANCE MONTHLY ALLOCATION WITH TERM SUPPLIERS REFINERY PROPOSES LAYDAYS FOR RECEIPT BASED ON OPTIMISATION PLAN & REFINERY REQUIREMENTS. LAY DAYS PROPOSED TO TERM & SPOT SUPPLIERS SUPPLIERS CONFIRM / REJECT LAY DAYS
- 6. Chartering Process RECEIPT OF CONFIRMED LAYDAYS FROM SUPPLIERS TIME CHARTER TONNAGE FINALISED COA TONNAGE FIXED BALANCE THRU’ VOYAGE CHARTER FLOATING ENQUIRY FOR TIME CHARTER / VOYAGE CHARTER / COA. ENQUIRY IS FLOATED TO INDIAN OWNERS / BROKERS WITH CC TO DG (SHIPPING) / INSA INDIAN VESSEL OWNERS BROKERS INDIAN NATIONAL SHIPOWNERS ASSOCIATION DG (SHIPPING) RECEIPT OF OFFERS / EVALUATION / NEGOTIATION / ROR TO INDIAN FLAG VESSELS VESSEL ACCEPTED ON SUBJECTS TILL LOADPORT / DISPORT / MANAGEMENT APPROVALS APPROVALS FROM DG (SHIPPING) / INSA FINALISATION OF FIXTURE / SIGNING OF CHARTER PARTY
- 7. Chartering Market Reports London Tanker Monthly Average Brokers Panel: Freight Rate Assessment Baltic Exchange: Daily Freight Rate for specified routes Brokers Reports: Daily Fixtures for Time & Spot Charters
- 8. Thank You