Venue: Le Meridian Hotel Piccadilly
Price: US $1500 per Delegate
Register Now!LAYTIME AND DEMURRAGE CLAIMS IN THE OIL IN DUSTRY - THE IMPORTANCE OF THIS EVENT
From now until the time you finish this sentence 5,000 barrels of oil will have come out of the ground. Or 10,000 barrels by the end of this one – all of which will refined traded and then require transportation to reach their market.
Oil has become the biggest commodity market in the world, evolving from a primarily physical activity into a sophisticated financial arena attracting a wide range of participants including banks and fund managers as well as the traditional oil majors, independents and physical oil traders. Trading is on narrow profit margins. Transportation of product by tankers plays a vital role where delay can suck out all the profit out of a deal. Knowledge of risks from loss of time is a key element of profitability in the supply chain.
The fluctuations in the oil industry, as laws are made or broken, are frequent and the legal landscape is constantly shifting. 2019 has already seen a number of important legal developments for the oil industry. Figuring out where you stand on various issues is the easy part; the difficulty is keeping on top of the changes as and when they happen.
Asdem's Oil Industry Laytime and Demurrage Conference provides the means of staying up to date will help you gain experience and give you a competitive edge.
Our conferences provide a forum in which learning and asking questions without judgement is the key to building your knowledge and seeing things from another perspective. Getting out of the office to attend Asdem’s conferences and networking with new people keeps you abreast of your competitors’ thinking, which can be used to your, and your employer’s, advantage.
Drawing on their expertise and experience, our speakers outline a practical approach to laytime and demurrage claims in the oil industry. Detailed and concise studies of recent case law are used to consider the latest developments and explain a more dynamic and proactive approach to the settlement of claims, often taken in the international market, to help reduce the time and cost of commercially harmful disputes.
Now in its 14th year this is Asdem’s flagship conference event. Demurrage is a complex subject which is invariably underestimated by people who have not studied it very closely. It continues to evolve whenever companies produce new charter parties or General Terms and Conditions are published or when there are new court or arbitration decisions. This biennial conference provides the best opportunity to review the latest terms and the courts’ interpretation of them and an opportunity to network with other Laytime and Demurrage professionals from all over the world.
The full timetable and programe for this conference is shown below.
If you would like to view/download the full brochure for this event please click here
TIMETABLE AND PROGRAMME
CONFERENCE - DAY 1
09:30 - Conference registration with light breakfast with coffee and tea
09:45
CHAIRMAN’S INTRODUCTION AND WELCOME TO THE CONFERENCE
Andrew Wilding, Managing Director Asdem/Roger Sepkes, Senior Consultant, Asdem
10:00
DEMURRAGE UNDER SALE CONTRACTS: INDEMNITY OR INDEPENDENT OBLIGATION?
NICK AUSTIN, Partner, Clyde & Co.
Nick’s paper will consider the recent case of Gunvor SA v. CruGas Yemen Ltd & CruGas Ltd [2018] and amongst other interesting issues, involving whether the demurrage provisions in a sale contract gave the buyers an absolute obligation to pay demurrage or permitted the buyers only to indemnify the sellers for no more than the demurrage they had to pay to the ship owners.
10:45
LEGAL ISSUES OF DEMURRAGE AND PUMPING WARRANTIES
SIMON BAUGHEN, Professor of Shipping Law, Institute of Shipping and Trade Law, Swansea University
Simon will be looking at the pumping clauses found in oil charterparties from the wide range of additional clauses that are necessary for Asbatankvoy to the standard warranties in widely used modern forms and examining the legal issues they give rise to.
11:30 - Coffee and Tea break
11:45
INTERIM PORT CLAUSES – PRECISION V. PRACTICE
ALEC KYRLE-POPE, Charterers Risk Specialist, UK Defence Club
When a lumpsum freight has been agreed, tanker voyage charterparties commonly include clauses allowing for changes of voyage orders and calls at additional/interim ports. These clauses set out a costing methodology which, from the owners point of view, should result in their net daily earnings remaining the same irrespective of the fact that the actual voyage involving the interim port(s) was not what the original lumpsum freight was agreed for. Such clauses often give rise to controversy often being commercially drafted and interpreted in a subjective and self-serving manner. Alec will be examining these clauses, their drafting, and how they work in practice.
12:30 - Lunch
14:00
STS OPERATIONS AND DELAY-RELATED PROBLEM AREAS - AN OPERTIONAL PERSPECTIVE
EMMA COOKE and ED CHERRETT, Commercial Manager / Marine Manager, Fendercare Marine
We are delighted to have Emma and Ed come to this year's conference to provide a masterclass on the practical aspects of an STS operation, what it involves, the procedures adopted, and common causes of delay.
14:45
STS CLAUSES – PRACTICE V. PRINCIPLE – A CASE STUDY
NICOLA COX, Deputy Director FD&D Claims, West of England P&I
Nicola will be taking us through a case study on how an STS demurrage clause in a recent case worked in practice when contrasted with the legal principles that applied notwithstanding the express wording in the charterparty. Nicola will also consider the importance of detailed expert and factual evidence in this case study including statistical information and the interplay between preparing for a case whilst also attempting settlement.
15:30 - Coffee and Tea break
15:45
THE BREAK DOWN EXCEPTION: WHEN IT APPLIES AND WHEN IT DOES NOT
JEREMY DAVIES, Consultant, Holman Fenwick Willan
We are very pleased to welcome Jeremy who has made a trip from Geneva to present on the well-known case of The Afrapearl. The Afrapearl case involved the “breakdown” exception and its application to the repeated failure of a sea line manifold at M’Bao, Senegal. In the light of recent breakdowns that have occurred at European refineries, Jeremy and will consider– does the breakdown exception apply to partial breakdowns or inefficiency of a loading/receiving terminal which operates with a well-known malfunction, or only to total malfunctions?
16:30 - End of Day 1
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18:30 – 19:15
CHAMPAGNE COCKTAIL RECEPTION
(The Oak Room Lounge, Le Méridien Piccadilly Hotel, London)
19:15 – 21:30
CONFERENCE DINNER
(The Oak Room, Le Méridien Piccadilly Hotel, London)
21:30 – till late
After dinner drinks hosted by Asdem for those wishing to stay on!
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CONFERENCE - DAY 2
09:30 - Light Breakfast with Coffee and Tea
09:45
HOW DEMURRAGE CAN BENEFIT FROM SHARED LEDGERS AND BLOCKCHAIN
ALESSA POPOVIC, Ecosystem Development Manager, VAKT Global Ltd.
Many of us will have heard how technology is changing and will change the oil industry dramatically within the next 5 years. Alessa will be addressing the conference on how these new technologies can make the life of a demurrage professional easier and make the often-long days in the office shorter!
10:30
PAYMENT DELAYS: THE INTERNTAKO DEMURRAGE CLAUSE AND THE CODE OF PRACTICE FOR HANDLING SHIPPING AND CONTRACT CLAIMS
CHRISTOPHER LITTLE, Senior Solicitor, FD&D, North of England
Delays in payment plague the industry from the well head to the end user and most parties involved – seller, buyer, trader, charterer and, of course, owners – suffer. How does the industry avoid delays in the payment chain and what are the best strategies and clauses for minimising them? Chris will be looking at whether the Intertanko clause provides a workable solution, is adopting The Oil Industry Working Group's Code of Practice for Handling Shipping and Contract Claims the answer, and how does the FD&D and department of a leading Protecting and Indemnity Association approach the payment delay issue?
11:15 - Coffee and Tea break
11:30
PLEASE WAIT! – A CASE STUDY ON NOVOROSSISK SHIPPING CO. V. NEOPETRO CO. LTD. (THE "ULYANOVSK") [1990]
ANDREW WILDING, Managing Director, Asdem
Operators often instruct a vessel to wait at a designated place off port – it's an issue covered by modern form oil charterparties but what happens when you are using “The Old War Horse” Asbatankvoy? This paper considers the rights a charterer has to tell a vessel to stop and wait and the intriguing suggestion from a London Arbitration Tribunal that the right to tell a vessel to wait is an implied term of an oil industry charterparty based on custom and practice of the industry.
12:30 - Lunch
14:00
RECOVERING FREIGHT DIFFERENTIALS, DEVIATION AND DETENTION UNDER CIF AND CFR CONTRACTS
PHIL STALLEY, Director, HubSE Demurrage Software
14:45 - Coffee and Tea break
15:00
DEMURRAGE DILEMMAS - SOME OF THE MOST COMMONLY DISPUTED ISSUES WHEN NEGOTIATING DEMURRAGE
JANE PICKFORD, Global Commercial Manager, Claims & Demurrage, Vitol Group
PHIL STALLEY, Director, HubSE Demurrage Software
ANDREW WILDING, Managing Director, Asdem
We encourage delegates to bring along case studies, problems or any dilemmas commonly faced, engage with the issues they raise, as well as analyse, participate and collaborate with each other on them in this final session. Dilemmas that Jane, Phil and Andrew will be considering, amongst others in an interactive session with delegates will be:
15:45 - Chairman’s thank you and closing speech
16:00 - End of Day 2
DISCOUNTS
