Shipping Terms

CHARTERING ABBREVIATIONS – TERMS & DEFINITIONS

Arrival First Sea Pilot Station (Norway)

At or towards the stern or rear of a ship

Amsterdam-Rotterdam–Antwerp-Ghent Range

Any Time Day or Night Sundays and Holidays Included

Bunker Adjustment Factor. A Fuel Surcharge expressed as a percentage added or subtracted from the freight amount reflecting the movement in the market place price for bunkers.

Heavy weight, often sea water, necessary for the stability and safety of a ship which is not carrying cargo.

Bareboat Charter – Owners lease a specific ship and control its technical management and commercial operations only.

The Baltic and International Maritime Council

This is the assembly of pieces of cargo, secured into one manageable unit. This is a very flexible description, a rule of thumb is to present cargo at a size easily handled by a large (20 tonne) fork lift truck.

Name given for vessels Fuel and Diesel Oil supplies (Originates from coal bunkers)

Cost, Insurance & Freight. Seller pays all these costs to a nominated port or place of discharge.

Contract of Affreightment – Owners agree to accept a cost per revenue ton for cargo carried on a specificnumber of voyages.

Contract of Affreightment Charter Party

Days all Purposes (Total days for loading & discharging)

Despatch Half Demurrage on Actual Time Saved Both Ends

Despatch Half Demurrage on Working Time Saved Both Ends

Dropping Last Outwards Sea Pilot (Norway)

Dropping Off Last Sea Pilot (Norway)

Discountless and Non-Returnable Ship and/or Cargo

Depth to which a ship is immersed in water. The depth varies according to the design of the ship and will be greater or lesser depending not only on the weight of the ship and everything on board, but also on the density of the water in which the ship is lying.

Materials of various types, often timber or matting, placed among the cargo for separation, and hence protection from damage, for ventilation and, in the case of certain cargoes, to provide space in which the forks of a lift truck may be inserted.

Deadweight. Weight of cargo, stores and water, i.e. the difference between lightship and loaded displacement.

Forty foot container equivalency unit – Standard 40 Container

Free In/Liner Out. Seafreight with which the shipper pays load costs and the carrier pays for discharge costs.

Free In/Out. Freight booked FIO includes the seafreight,but no loading/discharging costs, i.e. the charterer pays for cost of loading and discharging cargo.

Free In/Out Stowed. As per FIO, but includes stowage costs.

Free In/Out and Trimmed. As per FIOS but includes trimming – the leveling of bulk cargoes

Free In/Out Stowed, Lashed, Secured and Dunnaged. As per FIO,but includes cost of lashing securing and dunnaging cargo to Masters satisfaction.

Free In/Out and Trimmed. Charterer pays for cost of loading/discharging cargo, including stowage and trimming.

Full Liner Terms – Shipowner pays to load and discharge the cargo

Federal Maritime Commission – US government agency

Gencon – a standard BIMCO charter party form

International Maritime Dangerous Goods Code

Carriage of a commodity by different modes of transport, i.e. sea, road, rail and air within a single journey.

International Transport Federation – international body that regulates crewing of ships

If Used, Half Actual Time Used To Count

To hold goods in position by use of Ropes, Wires, Chains or Straps etc.

Lighter Aboard Ship – a vessel that loads small barges direct from the water

Metric Tonne (i.e. 1,000 kilos / 2204.6lbs)

Not Always Afloat But Safely Aground

Implies that cargo is presented stacked in the contour of similarly shaped cargo, it may be likened to a stack of plates.

License or permission to use a port

REVERSIBLE (Detention) If loading completed sooner than expected at load port, then days saved can be added to discharge operations.

Revenue Tonne (i.e. 1.0 metric Tonne or 1.0 cubic meter,whichever greater). The overall RT is calculated on a line by line basis of the Packing List using the largest amount. The overall freight liability is calculated on the total RT amount, multiplied by the freight rate.

Stowage factor. Cubic space occupied by one ton (2,240 lbs/1,000 kgs) of cargo.

Signing and Releasing Bill of Lading

Saturdays, Sundays, Holidays Excluded

Saturdays, Sundays, Holidays Included

It is paramount that a vessel is stable in all respects at all times. When cargo is loaded/discharged, the stability is monitored by a computer, which takes into vessel.

Right side of a ship when facing the bow

Subject To Enough Merchandise (Availability of Cargo)

Person employed by a ship owner, shipping company, charterer of a ship or shipper of goods to supervise cargo handling operations. Often called a port captain.

Time Charter – Owners agree to hire a particular ship for a set length of time

Twenty Foot Equivalency Unit – Standard 20 Container