Venue: Jinbocho Mitsui Building, 19th Floor, 1-105 Kanda Jinbocho, Chiyoda-ku, Tokyo 101-8101, Japan.
Price: US $500 per Delegate
Register Now!THE IMPORTANCE AND DESCRIPTION OF THIS WORKSHOP
The Far East Open-Specification Naphtha Contract (OSN) is an industry "Benchmark Contract" used by many companies trading Naphtha in Asia. The OSN is designed to be traded in chains, to be comprehensive and cover almost all eventualities so that traders easily can take future (short or long) positions. Traders only need to agree the details of the half-month delivery period and the price. Other Traders use the OSN as a base contract providing a set of standard terms and conditions The OSN Contract has functioned well for many years, mainly because of the goodwill of the companies that trade it.
Due to the ease with which the contract can be traded this can lead to long chains or strings of contracts as each seller passes a cargo nomination to his buyer. There may be long delays before these cargoes are discharged. The cargoes may be split into two or more contract parcels and delivered to more than one port or berth. Drifting charges, shifting costs and deviation can also be incurred.
How do you calculate your net liability when you have a contract, or perhaps several, in a long chain? What should you pay if you are the last contract at the end of a chain? If you are the charterer, what costs are you able to recover? The answer is very likely to be different from the amount claimed by the ship owner. How do you keep your net exposure as small as possible? By understanding the how the contract works!
In response to several requests, Asdem has arranged a special one-day workshop on the contractual, operational and laytime and demurrage terms of the OSN.
Demurrage and other shipping claims under OSN terms often requires the co-operation of all the companies involved. It is, of course, far easier to maintain this essential co-operation when all the companies fully appreciate the details of the contract. This seminar is therefore aimed at traders, operators and claims analysts who need to know how the OSN contract functions, how to avoid excessive costs and how to verify their demurrage claims.
This workshop will also highlight the important recent amendments to the 2017/8 version of the OSN Contract. Some of the changes are especially relevant to the collection of demurrage.
Andrew Wilding, Managing Director of Asdem, will answer all of these questions by going through the relevant clauses in the OSN Contract and by working through real examples and case studies, so bring your calculator! You may rely on Asdem to work out your net share of the demurrage, but you still need to be able to check these complex calculations for yourself.
The workshop will be limited to a maximum of twenty delegates.
SPEAKERS
Please click here to view Asdem's speakers panel.
PROGRAMME
COST and VENUE
The fee for this intensive 1-day workshop, is US $500 per delegate and will be held at the at the offices of Asahi Kasei Corporation, Jinbocho Mitsui Building, 19th Floor, 1-105 Kanda Jinbocho, Chiyoda-ku, Tokyo 101-8101, Japan.
The fee includes all documentation and refreshments. This fee does not, however, include lunch.
