Associated partner of Interlegal presented a lecture at the seminar for oil & gas companies in Moscow
Nataliya Myroshnychenko, associated partner of Interlegal, invited by organizer - Vostock Capital Company, made a report in the framework of seminar “Oil and Oil Products: Logistics, Customs, Taxes, Tariffs” which was held on the 14th – 17th of April 2014 in Moscow.
For the last 6 years over 250 experts from head oil & gas / trading companies from Russia and CIS countries attended this course. Theme of the lecture was defined as “Oil and oil product transportations by sea. Transport economy: freight, calculation of laytime and demurrage”. It covered a wide range of issues. Audience of the seminar gained knowledge in theory and practice of oil product transportation from Nataliya Myroshnychenko’s wide experience and practice of Interlegal, in particular upon the following:
- Oil/oil product sale and purchase agreements and transfer of rights of ownership and risks under terms of supply FOB, CIF, C&F, DES, DAF and DDU;
- General concept of the types of tankers, vessel features and Clarkson’s journal;
- Risks, kinds and peculiarities of oil product handling;
- Types of tanker charter parties, standard proformas, essential terms;
- Principles of determining freight rates and Worldscale System of tanker freight rates;
- Laytime and demurrage: definition and calculation, peculiarities of calculation upon tanker charter parties.
Final part of the lecture included practical training (Case Study) based on Interlegal’s practice. In the process of this training course participants studied complex situations on real examples and practiced how to calculate laytime and demurrage.