Maritime Department

Master of Science (MSc) in Shipbroking and Chartering

Key Feature

Code                              MMSC212

Modules                        15

Duration                       15 months

Registration                 Any time
Teaching                       Distance learning

Credits                           120

Tuition Fees                 $8,500

The Master of Science in Shipbroking and Chartering is a comprehensive program designed to provide students with a deep understanding of the shipping industry, focusing on chartering, maritime laws, insurance, and port management. This course blends theoretical knowledge with applied insights and includes a range of specialized modules covering everything from the types of ships and maritime geography to advanced chartering procedures and legal frameworks. By encompassing aspects such as voyage estimation, shipbroking, and arbitration, the program prepares students to face the challenges of the maritime sector and equips them with the skills necessary to excel in roles related to ship chartering and maritime operations.

The main objectives of this MSc course are:

  • To provide a robust foundation in the basics of shipping, including nautical and shipping terminology, types of ships, and their operations.
  • To explore the regulatory environment affecting maritime activities, including the role of international organizations like the International Maritime Organization (IMO) and various maritime laws and conventions.
  • To understand the intricacies of marine insurance, chartering, and the duties of classification societies.
  • To develop practical skills in port management, shipbroking, and voyage estimation, enabling effective management and operational decision-making.
  • To offer in-depth knowledge on maritime geography, including major ports and trade routes, and their impact on global trade.
  • To prepare students for legal and ethical considerations in maritime arbitration and dispute resolution.
  • To engage students in practical applications through labs and real-time worked examples, simulating real-world chartering and negotiation scenarios.
  • To culminate in a rigorous dissertation that synthesizes course learning in a significant piece of research, addressing a complex issue within the chartering field.

Learning Outcomes
Upon successful completion of this program, students will be able to:

  • Articulate comprehensive knowledge of maritime terms, ship types, and the functions of shipowning companies and maritime jobs.
  • Analyze the legal frameworks governing shipping, including the Hague and Hague-Visby Rules, and apply these principles to case studies involving the carriage of goods by sea.
  • Effectively use maritime insurance terms and understand the nuances of different charter parties, bills of lading, and classification codes like ISM.
  • Perform voyage estimations and manage vessel and port operations economically.
  • Navigate the complexities of maritime geography in relation to major world ports and the logistics of import/export commodities.
  • Manage chartering procedures from negotiations to drafting charter parties for various cargo types.
  • Resolve disputes using alternative dispute resolution methods and understand the ethical implications in arbitration settings.
  • Demonstrate proficiency in negotiating and fixing voyages for dry and liquid cargoes through simulated exercises, understanding the role of brokers and P+I clubs in cargo disputes.


1. Introduction to shipping
• Shipowning company's Departments & Maritime Jobs, Part 1
• Maritime Jobs, Part 2
• Nautical Terminology
• Shipping Terminology, Ship's Tonnage

2. Types of ships, Nationality of Ships, International Organizations
• Types of ships, Part 1
• Types of ships, Part 2. Ship’s demolition
• Nationality of ship and ships under flags of convenience, Piracy and Hot pursuit
• International Maritime Organization (IMO) and key conventions of the IMO

3. Introduction to Marine Insurance, Chartering and Classification Societies
• The commonly used marine insurance terms
• Contract of sales, Charter parties and Bills of lading
• Cargo terminology, Cargo operation
• Classification society and the International Safety Management code (ISM)

4. Port Management, Shipbroking, Voyage Estimation
• Vessel’s port expenses
• Shipbrokers and agents
• The Baltic Exchange – Associated shipping organizations
• Voyage Estimation, Part 1

5. Maritime Geography, Main ports of the world, import/export commodities
• Maritime Geography, main ports of the world, import/export, part 1: the earth, continents, oceans, Africa
• Maritime Geography, main ports of the world, import/export, part 2: Europe
• Maritime Geography, main ports of the world, import/export, part 3: Asia, Oceania
• Maritime Geography, main ports of the world, import/export, part 4: the Americas

6. Shipping Law I
• Hague rules, Hague/Visby rules and case studies
• Case studies on Carriage of Goods by Sea
• Exceptions, limitation of liability
• Documents of sea transportation

7. Shipping Law II
• English legal system
• Alternative Disputes Resolution (ADR), mediation
• Arbitration, Arbitration Act 1996
• Ethics in arbitration
• Aspects of arbitration proceedings

8. Voyage Charter – Laytime 1 (Dry cargo)
• Voyage Charter Party 1: Wording and clauses of the charter party, Printed text, Riders, Addendum, Main bodies issuing charter parties
• Voyage Charter Party 2: Vessel’s Description, Loading/Discharging (place, cost), Freight, Notice of Readiness, Time counting
• Voyage Charter Party 3: Clauses of a charter party (general average, exceptions, war risk, arbitration clause, commissions, etc. …)
• Laytime 1: The concept of laytime, Statement of facts, Duration of laytime, Commencement of laytime

9. Voyage Charter – Laytime 2-3 (Dry cargo, Tankering), Time Charter
• Laytime 2: Interruption of laytime (weekends/holidays, shifting, strikes, breakdowns), Cessation, Calculation of laytime, Demurrage, Damages for detention
• Laytime 3: Dispatch (on working time saved and all time saved), Average and reversible laytime, Tanker laytime
• Time Charter 1: Time charter and Time charter trip, The vessel (cargo capacity, speed and bunker consumption, ship’s fouling, dry docking-maintenance), The trade (geographical limits, safe ports), The cargo (restrictions and exclusions of cargoes), The period, Delivery and redelivery
• Time Charter 2: The payment of hire, Off-hire, Allocation of costs (Master’s position, customary assistance, costs for shipowners’ and charterers’ account), Cargo liability of shipowners and charterers, Damage to the vessel

10. Worldscale, Tankering Terminology
• Worldscale, Use of Worldscale (example). Tankering Terminology: Crude Oil Washing (COW), Inert Gas System (IGS), Segregated ballast Tanks (SBT), Single Point Mooring (SPM), Dynamic Position (DP)
• Crude Oil and its Transport, Crude Oil Exporters, Tanker Chartering
• Cargo order – Ship’s position, Shipbrokers, Chartering Abbreviations

11. Chartering Procedure, Drawing Charter Parties
• Chartering Procedure: Chartering negotiations (offers – counter offers, business “clean fixed”)
• Drawing charter parties, Dry cargo, Liquid cargo, Lab simulation
• General principles of Arbitration, Arbitration Act 1996, Seat of arbitration, Arbitral Tribunal, Award, Arbitration terminology

12. Lab online – Real-time worked examples
• Negotiations – fixture on a voyage charter (dry cargo)
• Negotiations – fixture on a voyage charter (liquid cargo)
• Negotiations – fixture on a time charter (dry cargo, liquid cargo)
• Discuss the role of the P+I club in cargo disputes and third-party liabilities concerning ship charters.
Examine the role of the broker when disputes arise between contracting parties or any individuals involved in the charter during the chartered period or even long after the completion of the voyage or the ship's redelivery to owners.

13-15. Dissertation
• 15,000 words

Entry Requirements

Bachelor of Science (BSc) or other Higher Education degree, or experienced professionals.

English language: GCSE English Language grade 4/C – IB grade 4 Higher Level. If your first language is not English, you will need an IELTS of 6.0 overall, with 5.5 in each component, or a related certificate of English language course. Proficiency or Lower Certificate in English, or good writing and communication skills in English (at the discretion of the Committee).

Basic Information Technology skills.

Inspire your future
Study from any place Worldwide

No limits in education

Straightforward way of teaching


Worldwide telematic study. No need to attend physically in the class. You watch the lectures in video form, any time you would like and many times as you need. The speech of every video lecture is written in text form, by including the figures and the highlights of the lecture. You interact with the lecturers and tutors in electronic form.

Watch Videolectures


Assignment & Project


Final viva (live video)


Get your Degree awarded


Career - Maritime Jobs

Academic staff consisting of professionals with significant career at sea and generally in the shipping industry, being in collaboration with special academic personnel highly expertize in business and the international maritime affairs. Below are the maritime jobs, that our courses prepare you.


Our students, regardless their professional origin and their academic level, acquire the necessary knowledge which gives them the opportunity to get an outstanding job position in shipping and rise to the highest levels of the maritime industry.  

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Registration No: 25227 IBC 2018, Orion University Ltd,
Saint Vincent & the Grenadines, Central America.

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