INSTITUTE OF CHARTERED SHIP BROKERS (ICS)

INSTITUTE OF CHARTERED SHIP BROKERS (ICS)

INSTITUTE OF CHARTERED SHIP BROKERS (ICS)

The Institute of Chartered Ship brokers, founded in 1911, is the Professional body that sets the highest standards of professional services to the shipping industry through the provision of an internationally recognized education  program. 

The institute believes it is essential that shipping professionals have sufficient knowledge of the law, insurance, economics, etc so that he/she can communicate with a specialist professional.

This result in less confusion, misunderstanding and hopefully less contractual risk to the company.

Perhaps it goes without saying that a maritime lawyer needs the understanding of the shipping industry to be able to place his/her work in context.

Advantage of studying for the ICS examination include

*  Internationally accepted professional qualification

* Guarantee of a genuine understanding of shipping Business

* Proficiency in chosen specialist subjects

*Improved ability to analyse and assess information

*Greater confidence to communicate effectively worldwide on shipping business matters

QUALIFYING EXAMINATION : Provides a thorough understanding of shipping business

CAREER PROGRESSION :

Candidates

Members (MICS)

Fellows (FJCS) & thereby

 A Charted Shipbroker

FOUNDATION DIPLOMA STRUCTURE

Principally intended for those new to the industry Candidates take two papers at the same set of examinations

No exemptions allowed

Group  1                           Introduction to shipping

Group 2                           1 option

QUALIFYING EXAMINATION STRUCTURE

Please note that all Qualifying Examination candidates must take shipping business in their first year

GROUP 1

(All subject required)        –      Introduction to shipping Legal principles in Shipping Business

                                                   Economics of sea transport and international trade

Compulsory in first year     –    Shipping Business

GROUP 2

Dry cargo chartering

Ship operations and management

Tanker chartering

Ship sale and purchase

Liner trades

Port agency

GROUP 3

Shipping law

Financial and management accounting

Multi-Modal transport and logistics

Maritime insurance

Candidates may select the following options in respect of GROUP 2 and 3

Option A: Two subject from group 2 and one from group 3

Option B: Three subject from group 2 and none from group 3

Option C :One subject from Group 2 and two from group 3

If this option is chosen only group 3 is exemptible the other group MUST be taken with this institute

Shipping business must be taken in the first year the remaining subject may be taken in any order but candidates must sit a minimum of three subjects at all their first attempt (Sitting means making a genuine effort to answer five questions in each paper) The qualifying examination must be completed within five years.

EXEMPTIONS:

Candidates with relevant professional or educational qualifications validated by this institute will be able to apply for exemptions, on a subject for subject basis, from all subjects except Shipping Business in Group 1 and the specialist subjects comprising Group 2

ENTRY REQUIREMENTS:

Candidates wishing to take either the institute’s Qualifying or Foundation Diploma examinations must first register with the institute as a student The examinations are held in April each year at specified centers worldwide (please see attached list) Please note that candidates wishing to sit elsewhere should contact the institutes London office no later than October 31st to see if this can be arranged and that supplementary charges may be payable

QUALIFYING EXAMINATIONS

Every applicant for registration as a student and subsequent entry to the Qualifying Examinations will be required to comply with one of the following conditions:-

a) Have gained passes in 2 subjects at GCE ‘A’ level or the equivalent outside the U.K education system

OR

b) Have completed one year’s employment in an organization, which has a bona fide connection with shipping business including serving at sea.

c) Have obtained the institute foundation diploma in shipping.

FOUNDATION EXAMINATIONS

Every applicant for registration as a Foundation Diploma student and subsequent entry to the Foundation Diploma examinations must be over 16 years of age

REGISTRATION

Application must complete and return their registration form and appropriate fee to the institute no later than the following dates of each examination year.

14th January for candidates at designated centers overseas and in the Republic of Ireland 14 February for candidates in the United Kingdom

Registrations received after these dates will Not be accepted for non-standard centers deadline is October 31st

Registration as a student does Not confer membership of the institute and students May Not use any initials after their names denoting that they are Registered students of the institute

FEES

Fees are payable for Registration and for Examination entry see the enclosed slip for current fees all fees must be paid in sterling except where arrangements have been made to pay these in local currency to your institute branch

ENTRY PROCEDURE

Candidates must complete and return the examination entry form together with the appropriate fee, to the institute not later than the following dates of each examination year.

21st January for candidates at centers overseas and in the Republic of Ireland 21st February for candidates in the United Kingdom

Candidates are advised in their own interest to submit their entry form well in advance of the closing date and to ensure that it is acknowledged .No allowance can be made for any special circumstances or for any error or omission by the candidates, by a parent or friend or by the postal authorities .Late entries will Not be accepted

THE FOLLOWING ARE COURSES STRUCTURE

GROUP 1

            A .Introduction to shipping

B .Legal principles in shipping business

C .Economics of sea transport and international trade

D .Shipping business

GROUP 2

A .Dry cargo chartering

B .Ship operations and management

C .Tanker chartering

D .Ship sale and purchase

E .Liner trades

F .Port agency

GROUP 3

 A .Shipping law

B .Financial and management accounting

C .Multi-modal transport and logistics

D .Marine insurance

GROUP 1

INTRODUCTION TO SHIPPING( INSTITUTE OF CHARTERED SHIP BROKERS (ICS ))

Its aim

1. To introduce students to the essentials of business practice

2. To ensure a basic knowledge and understanding of the elements of shipping business

3.To develop communication skills

                                       Commercial Geography

                                       International trade

Cargoes and trade routes

Ship types

Contracts of carriage

Law of carriage

Ship registration and classification

The practitioners in shipping business

Basic accounting

LEGAL PRINCIPLES IN SHIPPING BUSINESS( INSTITUTE OF CHARTERED SHIP BROKERS (ICS )

Its aim

1. Have a general understanding of the principles of the law relating  to matters frequently encountered in shipping business

2. Develop the ability to exercise foresight in avoiding problems and to deal intelligently with them if they arise

3. Have sufficient knowledge of dispute resolution to be familiar with the procedures

General principles

Contract

Agency

Port

Law of carriage

General average

International conventions

ECONOMICS OF SEA TRANSPORT AND INTERNATIONAL TRADE( INSTITUTE OF CHARTERED SHIP BROKERS (ICS )

Its aim

1. To give a basic understanding of the economic theory of shipping and international trade

2. To develop analytical skills and relate theory to empirical evidence

3. To communicate effectively through the use of graphs and have an appreciation of statistical evidence.

           Basic economic concepts

          The demand for shipping

          The supply of shipping

          Cost analysis and economics of scale

          Competitive markets tramps

           Competitive markets tankers

          Liner trades oligopoly and the competitive market

Ports canals and waterways

            Shipping and international trade

            Exchange rates and balance of payments

SHIPPING BUSINESS( INSTITUTE OF CHARTERED SHIP BROKERS (ICS )

COMPULSORY SUBJECT YEAR 1 OF QUALIFYING EXAMINATIONS

                              Its aim

1. To ensure a sound understanding of the elements of knowledge common to all sectors of shipping.

2. To develop relevant communication skills. The shipping business entity

                   Shipping business sectors

                   Business ethics

                  Geography of trades

                  International trade and finance

                  Business communication

                  Shipping organization their role and contribution

GROUP 2

DRY CARGO CHARTERING

Its aim

1. To ensure a thorough knowledge and understanding of dry cargo chartering

2. To develop relevant communication skills

Ships

Cargoes and trade routes

Freight markets

Contracts

Bills of landing

Chartering marker practice

Financial elements of charter parties

Lay time

Calculations

Bills of landing

General

SHIP OPERATIONS AND MANAGEMENT

Its aim

1. To ensure a thorough knowledge and understanding of ship operations and management .

2. To develop relevant communication skills

Ship owners, operations and managers

Ship types

Registration classification ,port state control, ISM code

Costs

Crewing

Marine insurance

Vessel operations

Cargoes

Bunker management

Accounting

Voyage estimating

Law relating to ship management

TANKER CHARTERING

Its aim

1. To ensure a thorough knowledge and understanding of tanker chartering

2. To develop relevant communication skills

Ships and cargoes

The trades

Freight markets

The contracts

Bill of landing

Chartering market practice

The financial elements of charter parties

Lay time

Calculations

General

SHIP SALE AND PURCHASE

                                     Its aim

1. To ensure a thorough knowledge and understanding of the practice and etiquette of this specialist sector of ship brokering, dealing with new building contracts second -hand sales and purchases and demolition sales.

2. To develop relevant communication skills

The ship

Geography

Registration and classification

The parties involved

Markets

Contracts and documentation

Negotiation

Finance and insurance

Valuations

Legal aspects of sale and purchase

LINER TRADES

Its aim

1. To ensure a thorough knowledge and understanding of liner business

2. To develop relevant communication skills.

Definition of liner trades

The ships

Port terminals cargo handling

Liner shipping operations

Containerization, intermodal transport and logistics

Liner industry structure

Bills of landing and other documents

Tariff construction ,pricing and agreements

Financial aspects of import and export business

Legal aspects of liner trades

PORT AGENCY

Its aim

1. To ensure a thorough knowledge and understanding of port agency

2. To develop relevant communication skills

Ships

Cargoes and trade routes

Registration ,classification and survey

Port agency operations

Ship documents

Charter parties

Port working documentation

Cargo documentation

Legal aspects for port agency

Accounts

GROUP 3

SHIPPING LAW

                Its aim

1. To provide an understanding of law relating to shipping business

2. To ensure that members are able to communicate intelligently with professional lawyers

Legal aspects of charter parties

Carriage of goods by sea conventions

Legal aspects of bills of landing

Passengers

Mortgage law applicable to ships

Admiralty jurisdiction

General average salvage and towage

Environment and pollution

Collision

Ship owner’s limitation of liability

Dispute resolution

Law relating to ship management

FINANCIAL AND MANAGEMENT ACCOUNTING

Its aim

To ensure that its members

  1. Comprehend that basic concepts of book keeping in particular trial balance, profit and loss accounts and balance sheets in order to:
  • Understand the accounts of companies in the shipping business
  • Communicate intelligently with professional accountants on matters of management accounts statutory accounts and methods if financing

Accounting systems and structure

Concepts and conventions

Financial reports

International of financial information

Management accounts budgeting and forecasting

Cash flow management

Investment appraisal

Financing

Shipping accounts freight and hire collections

MULTI-MODAL TRANSPORT AND LOGISTICS

                            Its aim

1. To ensure a thorough knowledge and understanding of the role of multi-modal transport and its importance in supply chain management

2. To develop relevant communication skills

International distribution

Physical operation

Trade routes

The practitioners

Through transport pricing

Inventory management

Sale contracts and documents

Conventions relating to multi modal transport

Regulation

Sale and marketing

MARINE INSURANCE

                               Its aim

To ensure that members

  1. Understand the purpose of marine insurance, its principle and practice
  • Are able to communicate intelligently with professional practitioners in the marine insurance market

The marine insurance market

The principles of marine insurance

The practice of marine insurance

Claims

General average

INSTITUTE OF CHARTERED SHIP BROKERS (ICS)