Featuring Risk Management and Operations

Bunker Sales & Trading 2019 • Malta

BUNKER SALES & TRADING

(featuring Risk Management and Operations)

Monday 28 January - Wednesday 30 January 2019 ~ Three-day Course

Early Bird Price: £1,825 (€2,026) - ending on 19 December 2018
Standard Price: £2,025 (€2,250)

REGISTER


pdfVIEW PDF PROGRAMME

 

The course fee includes a visit to a local oil storage terminal on Tuesday Afternoon 29 January.

The course price also includes course manual in English with all presentations and exercise materials, light lunch, morning and afternoon refreshments.

On completion of the course, delegates will receive a course completion certificate.

DAY ONE: MONDAY 28 JANUARY 2019
08:30  Registration
 

Introduction

  • Overview of the course
  • Industry jargon, trading and shipping terms
  • Measurement & price units
 

The International Shipping Business

  • Types and sizes of vessel – tankers, dry cargo, container, passenger, others
  • Cost structure - capital, operating
  • Trading routes & flow
  • Freight costs
  • Engines, fuel handling systems and equipment
 

Oil Markets & Oil Trading

  • Global supply and demand
  • Regional balances, trade flows and market drivers
  • Market participants and their motives for trading
  • Physical, forwards, futures and derivatives
  • Term and spot deals
  • Impact of Shale
 

The Bunker Markets

  • Products used, supply and demand, buyers and sellers
  • Main delivery locations and delivery sizes
  • ECA and MARPOL regulations, ECA areas, global cap 2020
  • Commercial and regulatory aspects
 

Overview of Oil Refining

  • Objectives of Refining
  • Crude oil types
  • Key processes and products/components - distillation (atmospheric and vacuum); molecular restructuring/ reforming; conversion (cracking, visbreaking); hydrofining, sweetening
  • Basic refinery economics, crude oil valuation
  lunch break Networking Lunch
  Exercise: Crude Oil Valuation
 

Oil Terminals and storage

  • Who owns/operates?
  • Terminal functions, types of tankage
  • Discharge & loading systems
  • Measurement & inspection
  • Value to the trader
  • Key storage terms and conditions
 

Bunker Supply Operations

  • Delivery methods – ex-shore, barge delivery
  • Measurement & inspection
  • Quality issues. Problems & Disputes
16:30 Close of Day One
DAY TWO: TUESDAY 29 JANUARY 2019
8:30 Oil Product Quality & Blending
  • Oil Products / Blending
  • Main bunker products, their uses and main quality parameters
  • Blend-Stock Qualities
  • Principles of Blending: linear and non-linear properties
  • Fuel Oil and Gas Oil/Diesel blending
  • Issues in Bunker Quality for Fuel Oil and Gas Oil/Diesel
  Exercise: Fuel Oil Blending
  Shipping / Freight  
  • Tankers – types and characteristics
  • The worldscale system with worked examples
  • Basic principles of chartering and types of charter; lay-time and demurrage
  • Dry cargo/container shipping markets, operations
  • Shipping economics
  Exercise: Freight Calculation
 

Oil and Bunker Pricing Mechanisms

  • Crude and product price markers and formula pricing
  • Flat prices, differentials, pricing periods
  • Price reporting, price assessments and methodology
  • Bunker pricing: mechanisms, indices used, regional variations
   lunch breakNetworking Lunch
  Afternoon: Visit to Oil terminal & SGS Testing Lab
16:30  Close of Day Two
DAY THREE: WEDNESDAY 30 JANUARY 2019
 8:30 Oil Sales Contracts
  • Types of sale: FOB, CIF, Delivered, DAF, DDU, DES
  • Responsibilities of seller and buyer; contract structure
  • General Terms and Conditions
  Bunker Sales Contracts
  • Typical structure and terms; standard contract forms; payment, credit, payment security, credit control
  • Quality exposure and price exposure in sales chains
  Exercise: Evaluate Bunker Purchase
  Price Risk, Long & Short
  • Price risk & exposure; long & short
  Exercise: Long & Short
   lunch break Networking Lunch
  Overview of Bunker Price Risk Management
  • Risks involved in oil & bunker business
  • Principles of hedging, possible hedging tools to manage bunker price risk
  • Use of Futures for hedging price risk; benefits and limitations.
  • Use of swaps in hedging
  Exercise: Hedging with Swaps 
  Claims & Claims Management 
  Ships' Bunkers and Markets: the Future
  • Effect of emissions controls; impact on oil refining industry; the emergence of “non-conventional” marine fuels – LNG, CNG, nuclear etc
  • Developments in delivery systems and onboard handling
  Bunker Case Study
  Course Recap, Discussions and Feedback
  Closing Remarks
16:30 End of Bunker Sales & Trading

 

Registration Option

Bunker Sales & Trading - Early Bird:

£1825   (Save £200)

 

Register

Standard Price: £2,025 (€2,250) per delegate

Early Bird ends 19 December 2018

 

PRESENTED BY

channoil

malta petroleum academy

 

IN PARTNERSHIP WITH

petrospot

SUPPORTING MEDIA

bunkerspot

For More Information


Please contact:
Our Sales Team
Tel: +44 1295 814455
Email: sales@petrospot.com

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