Course syllabus

SJO296 Shipbroking lp2 ht23 (7.5 hp)

Course is offered by the department of Mechanics and Maritime Sciences (M2)


Contact details



Martin Larsson - Course literature



Christopher Thomassen - Administration of Canvas

Bengt Mueller - Bengt Meuller <>


  • Shipping Business in General, lecturing by Christopher Thomassen
  • Tanker Chartering (TKC), lecturing by Christopher Thomassen
  • Dry Cargo Chartering (DCC) - lecturing by Bengt Mueller


Examiner's contact details:

Martin Larsson, mob: 070-913 61 88, mail:


Teacher's contact details:

Christopher Thomassen, mob: 070-334 85 81, mail: 

 Bengt Meuller

Student representatives

TSILO        Malvina Dittmer

TSILO       Philip Halleröd

TSILO                          Daniel Larsson

TSILO          Olivia Lindkvist

MPMAR   Fabian Månsson



Course purpose


The course is to offer deeper knowledge in maritime economics, tanker chartering and dry cargo chartering. Students of the Shipping and Logistics program are eligible to undertake examination by the ICS according to their terms after having finished the course as well as the program.




Please see Time-Edit


Course literature


This course uses the latest edition of Institute of Chartered Shipbrokers books:

- Tanker Chartering

- Dry Cargo Chartering

Due to substantial revisions, editions earlier than 2014 are NOT recommended.
See - Mail received and instructions on Canvas of ordering.




1) Lectures and tasks
2) Assignments
3) Presentations


Learning objectives and syllabus


  • Clearly describe shipping related organizations, registered office, missions, type of organization and how they contribute to its members
  • Explain ship broker's role and position in relation to his principal (so called authority).
  • Explain business ethics in shipping.
  • Explain how shipbrokers can contribute to UN's sustainable development goals.
  • Explain Charter Parties (Dry cargo and Tanker) and relate to cargo and ship features and how it affects the deal.
  • Explain how cargo and ship is put on the market and the negotiation procedure using standard abbreviations and technical terms.
  • Markets
  • Use World Scale and flat rate
  • Explain financial elements (freight, demurrage, dispatch, commissions).
  • Explain possibilities/risks using voyage charter trips instead of time charter trips
  • Explain and perform laytime calculations (dry cargo and tank).



The course is divided into three main parts: Shipping Business in General, Tanker Chartering and Dry Cargo Chartering

Shipping Business in General  learning objectives;
- Derived demand of shipping
- International shipping organizations
- Business ethics and moral, to act "as agent to" and the importance of not breaching this authority

Tanker Chartering;
- Tank ships and its systems
- Oil history, development and market structure
- World scale and flat rate

- Financial elements
- Voyage Charter Trips & Charter Parties
- Time Charter Trips & Charter Parties
- Tanker laytime (calculations)

Dry Cargo Chartering
- Ship types and dimensions
- Freight market and market customs
- Chartering contracts, financial elements, laytime, voyage calculations, Bill of Lading and cargo carrying
- World trade
- Claims and liability




SB lecture #1 The shipbroker duties
Introducing the course and assignments. Further instructions in Canvas.

After this lecture and own studies, the student should be able to;

  • Explain derived demand for shipping
  • Explain the original interpretation of the term ‘shipbroker’ and how through the need of specializing it expanded to encompass all aspects of shipping business
  • For each role define for whom does the shipbroker/practitioner work?  
  • What form of contract there is between the entity and the shipbroker/practitioner?
  • What does the work involve?
  • What types of documentation does the shipbroker/practitioner normally use?   
  • How is the shipbroker/practitioner paid?


SB lecture #2 Exploration in shipping organisations
After this lecture, assignment and own studies, the student should be able to;
- Identify international shipping organisations and what they do, who their customers/members are, how they contribute to their members


SB lecture #3 Authority & Ethics + intro written assignment
After this lecture, and own studies for the assignment the student should be able to;
- Identify and explain risks with breaching authority and the importance of not breaching authority given by principal
- Discuss shipping business ethics, based on Baltic Exchange code of conduct for brokers

SB lecture #4 (and #5) Students oral presentations on written assignment
In class students will present their work in 5-10 minutes.
Final set-up depends on final number of participating students.




TKC lecture #1 The tankship and its systems TKC Ch 1
After this lecture, and own studies, the student should be able to;
- Sketch a tanker and identify important particulars and functions, typical ship sizes and types of tankers
- Explain tanker market development from vertical monopoly to independent market
- Interpret a market report


TKC lecture #2 Crude oil and market structure TKC Ch 2-3.1
After this lecture, and own studies, the student should be able to;
- Explain the value chain from oil well, refining, petroleum product/chemical to consumer and principally important trades, ports etc
- Explain tanker market structure and actors/stakeholders
- Identify trading restrictions including but not limited to canals, weather, politics in main loading/discharging areas (SELFSTUDIES)


TKC lecture #3 Voyage estimating and negotiating
TKC book Ch 3.2-3.4 and 4 and 5
- Explain/perform the negotiation process using correct language and avoid pitfalls
- Explain voyage estimation and using World Scale and flat rate
- Explain oil companies screening including vetting inspections, SIRE and the implications for the shipowner and charterer related to approvals


TKC lecture #4 Financial elements in tanker chartering
TKC book ch 9
- Explain what clause is prevailing in case of conflicts in a charter party
- Explain financial elements of tanker charters: What amount is due, when and relate relevant clauses. What documents are needed?
- Explain the difficulty to exercise lien in tanker chartering.

TKC lecture #5 Chartering forms including Tanker Voyage Charter and Tanker Time Charter
TKC book ch 6 and 7
- Explain and apply ASBATANK Charter party including protective clauses and additional clauses (when and how applicable)
- Explain tanker voyage charter party for a single voyage, consecutive voyages and contract of affreightment (COA)
- Explain important clauses in a tanker time charter charter party

- Explain what a bareboat charter is

- Write a firm offer (all tanker relevant parts included but no reference to dry cargo related matters)

TKC lecture #6 Tanker laytime and demurrage
TKC book ch 8
- Explain principles for laytime calculations without the support of a charter party
- Identify clauses in a charter party related to laytime & demurrage calculations and apply such clauses and explain their use/interpretation with special regard to ASBATANK cls 6-9   
- Compare and contrast charter parties (laycan, laytime, notice, early loading, cancelling)


TKC lecture #7 Exam prep
- Preparing for written exam. Students are encouraged to bring any questions they have with them. Questions on previous exams are discussed.




DCC lecture #1 The dry cargo ship:
DCC book ch 1,2
After this lecture the student should be able to distinguish between different kinds of ships and argue which ships are suitable for which cargo? What is important for the charterers to know about the ship prior to committing themselves for a fixture?


DCC lecture #2 The principles for voyage chartering
DCC book ch 3,4
After this lecture the student should be able to discuss what parties need to agree upon in a voyage fixture and how to avoid pitfalls when fixing a ship. Write/interpret ships positions and cargo orders, draft an offer and explain the negotiation process.

DCC lecture #3 The principles for time chartering
DCC book ch 3,4
After this lecture the student should be able to discuss what parties need to agree upon in a time charter fixture write/interpret ships positions and cargo orders, draft an offer and explain the negotiation process.
The shipping market: The student should be able to explain the market mechanism and analyze market reports.

DCC lecture #4 Laytime calculation
DCC book ch 6
After this lecture the student should be able to explain the principles for laytime calculations and also be able to make a proper laytime calculation with NOR/SOF and relevant charter party clauses.

DCC lecture #5 Voyage calculation
DCC book ch 5,7
After this lecture the student should be able to calculate, compare and choose the best employment for the ship. This will involve both time charter and voyage charter alternatives, including arguments for choice of chartering form based on risks involved.


DCC lecture #6 Case study
DCC book ch1-8,10
Case study where the students will be put into groups and it is time to put the newly acquired knowledge into practice. The students will take a ship on period charter and operate her in the spot market. The groups will be facing problems both under the time charter party and the different voyages that they are making with the ship and are expected argue for or against the case in question. Students are expected to refer to relevant clauses in the Gencon 94, the NYPE 93 but also to the book and previous lectures.

DCC lecture #7 Exam prep
Preparing for written exam. Students are encouraged to bring any questions they have with them. Questions on previous exams are discussed.



Written exam. Aids at examination: Chalmers approved calculator. Extract from World Scale will be distributed with exam. For higher grades, it is necessary elaborate the answers, taking all gained knowledge into account and referring to relevant charter party clauses without the support of written ditto.
Exam dates can be found on studentportalen. No extra exams will be given.
Exam grading 50/75/90%
Assignments are graded Pass/Fail.
Final grading = exam grading.



All courses at Chalmers are evaluated in several steps. As a student, you may at any time address the course responsible, student representatives or anyone in the board or the program owning the course with your feedback. During the course, the student representatives and the course responsible meet to discuss the progress of the course.
After the exam week of the study period that the course finishes in, a evaluation survey is sent out to all students registered at the course. Usually, you have two weeks to fill out the survey, and we encourage you to do so regardless of your opinion of the course – the more feedback we get, the clearer we understand what has worked well and potentially less well in the course. The course survey is used at the course evaluation meeting, where the course responsible, student representatives and a programme board member meet to discuss the outcome of the course and if something should be changed for next course round.

Other information

Please note that following information is referring to exams outside Chalmers and will occur a private cost, provided as information only and nothing that is required here at Chalmers to pass this course.
After having finished this course, students are eligible to undertake examination by the Institute of Chartered Shipbrokers (ICS) according to their terms and conditions.
Sveriges Skeppsmäklareförening, the Swedish branch of ICS, is offering a reduced fee on such exams for our students. If you are interested you should contact them directly
Regardless of which ICS-qualification you wish to take (Foundation Diploma, Advanced Diploma, and Professional Qualifying Examination) further studies is needed for you to pass. Please refer to the institute’s website for further information.
BSc Shipping and logistics-students have previously been able to obtain exemption for 4 out of 7 subjects needed for a so called Professional Qualifying Examination (PQE). Unfortunately previous students have had a poor track record for passing the ICS-exams they signed up for, so those exemptions were put under revision. Exemptions are now reduced to three.
For the care of future students, please do not sign up for ICS-exams unless you really are up for the extra study effort as a continued failure of our students will again put our students’ exemption under scrutiny and questioning. (Unfortunately also no-show-up count as failure, regardless of the reason for not attending.)

Study plan


Examination form


Examination including compulsory elements

Del A: Written assignment and oral presentation
Del B: Written exam

Date for the exam:   

See student portal for information

Aids at examination

Chalmers approved calculator

The final grade of the course is determined by the written exam.

Request for digital examination exists for:

0117 Written and oral assignments, part A 1,5c Grading: UG  
0217 Examination, part B 6,0c Grading: TH