International Trading Operations Practice - TROP 

CPE Credits Awarded: 24
Categories: Trading, Derivatives, Hedging and Risk Management

Course Date Duration Venue Price Register by Date Register
21 Nov 2017 3 Days London, UK Country: gb
£ (GBP)2,765.00+20%VAT
13 Oct 2017

Gold Course

This course provides the detailed practices and techniques involved in trading operations in today’s international crude and product markets. It has been designed for front, middle and back office personnel who need a detailed insight into trading operations best practice and emphasises the factors which have impact on corporate profitability and risk. It will also appeal to personnel who have recently joined a trading group of an oil company, investment bank or commodity trading company. Much of the work will be carried out in syndicate groups where teams will simulate real in-company practice, working with other delegates drawn from a wide background of disciplines in the industry.

The course commences with the progress of a trade, and the formation of a contract and moves on to the elements flowing from this that require operations management, including chartering, nomination, documentation and claims.
Each area is discussed in detail and topics such the relevant quality and specifications of actively traded product groups, the logistics of managing pipeline and storage deals and appointment of inspectors are also covered.

What You Will Learn

  • The progress of a trade
  • Basic terminology of tankers and freight
  • Key operational clauses in a contract
  • Price pricing
  • Chartering processes and shipping operations
  • Nomination procedures
  • Overview of refining and quality
  • Blending operations
  • Laytime and demurrage
  • Documentation instructions
  • Managing letters of credit
  • Pipeline and storage deal operations
  • Measurement of quantity and quality
  • Cargo insurance and losses

Managers Return on Investment

Upon completion of this course your employees will understand:

By attending this course, your employee will have gained the following:
  • A full understanding of the operational practices involved in the international oil supply and trading arena.
  • “Hands-on” practice in operations problem solving including: freight calculations, contract and credit clause preparation, nomination, documentation, claims, pipelines, storage deal management and terminalling.
  • An appreciation of the contractual relationship between traders and the responsibilities that flow to the operations personnel from this.
  • An introduction to the legal obligations and exposures that are involved in oil and shipping operations.
  • Recourse to the knowledge and experience of a world-class faculty and visiting lecturers; and the opportunity to interact and work together with other delegates from a large range of organisations and cultures.

Industry professionals within an oil/energy trading department with responsibilities in front, middle or back office functions

Contracts

  • The legal requirements of a contract
  • Structuring the key terms of a contract and price
  • Contracts and controls

Shipping

  • Understanding the basics and terminology
  • Calculation of freight and Worldscale
  • Chartering process and key terms
  • Shipping operations
  • Demurrage

Contract Operations

  • Nomination procedures
  • Documents and the Bill of Lading
  • Price reporting
  • Letters of credit and the banks

Quantity and Quality

  • Measurement of quantity and quality
  • Product types & grades
  • Relevance of product qualities
  • Significance of reproducibility and repeatability

Logistics

  • The Loading and discharging process
  • Blending linear and non linear
  • Other logistics – including pipeline operations
  • Storage logistics – agreements, inventory and operations
  • Transaction costs
  • Inspection of cargo and vessel
  • Insurance, losses and claims in oil and shipping

Case studies and Exercises include:

  • Freight and Worldscale
  • The spot crude sale contract
  • Blending to meet product quality
  • Letter of Credit documentation
  • Pipeline economics
  • Storage
  • Demurrage
  • Operational exposures other than price

Faculty

Mr Robin Burley

Testimonials

If you have attended a past course please provide us with some feedback.

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