Three members from GasLog’s FSRU Development Team joined the Masterclass in “Long Term Charters for FPSO, FLNG, FSRU & FSU” presented by Mr. John Tan on the 22ndand 23rd of July, 2017. The course covered a variety of relevant topics for our team, and in particular, the following areas were of interest:
- The viewpoint from the Charterer’s perspective on specific clauses in the charter agreement, in relation to the Provider’s viewpoint / stance.
- The impact of technical elements of the vessel on the agreements of the charter party, and more specifically, ensuring that the technical integrity of the vessel meets the requirements from the downstream offtakers.
- The importance of conducting key technical / site engineering scopes of work was evident in the final preparation of a robust charter agreement.
- Highlighting the pitfalls of multi-stakeholder / bundled project execution was beneficial and how the interfaces are the most challenging aspects in these charter agreements.
- The key drivers and points involved with a tender evaluation from the Charterer’s perspective to enhance the delivery of proposals by the Provider.
- The final negotiation exercise involving the participants to play the role of either the Charterer / Provider provided an insight on how detailed and complex negotiations can be, and the impact of one decision on a clause to other clauses contained in the charter agreement.
The course was very well prepared and delivered by Mr. Tan, and his personal insights and experiences with these long term charters provided a valuable learning experience for the team. The course material was planned well and the venue was top-class.
Thank you and we look forward to further interesting Masterclass sessions from your organization.
Haruo Kikkawa, FSRU Process Design Manager, GasLog Asia Pte. Ltd.