The module provides an insight to charter party types and clauses. The relevant chartering procedures are effectively presented and students have the possibility to apply such knowledge in a simulated environment. In particular the simulated process includes: market research, offers, counteroffers, presentations and misrepresentations, agreement on subjects, recap. Negotiation techniques and procedures and voyage estimation is thoroughly addressed. The main clauses of charter parties are examined in a comparative style in order to enhance the understanding of the consequences of different wording. Furthermore a holistic approach to charter party is adopted focusing on the evaluation and comparison of charter parties based on total revenue. To this end a thorough examination of laytime calculation is undertaken.
