Thursday, October 23, 2008
Glossary of Chartering Terms
The following are generally accepted code terms used internationally in the shipping community:
AGW - All going well
AAAA - Always Afloat, Always Accessible
AARA - Amsterdam-Antwerp-Rotterdam Area
ABT - About
ADCOM - Address Commission
AFSPS - Arrival First Sea Pilot Station (Norway)
AFFREIGHTMENT - The hiring of a ship in whole or part
AFT At - or towards the stern or rear of a ship
AHL - Australian Hold Ladders
ANTHAM - Antwerp-Hamburg Range
APS - Arrival Pilot Station
ARAG - Amsterdam-Rotterdam-Antwerp-Gent Range
A/S - Alongside
ATDNSHINC - Any Time Day/Night Sundays and Holidays Included
ATUTC - Actual Time Used To Count
BAF - Bunker Adjustment Factor
BALLAST -Heavy weight, necessary for the stability of a ship not carrying cargo.
BBB - Before Breaking Bulk
BDI - Both Dates Inclusive
BENDS - Both Ends
BI - Both Inclusive
BIMCO - Baltic and International Council
BL - Bill of Lading
BM - Beam
BOB - Bunker on Board
BOFFER - Best Offer
BROB - Bunkers Remaining on Board
BSS - Basis
B S S 1/1 - Basis 1 port to 1 port
BT - Berth Terms
BWAD - Brackish Water Arrival Draft
CBM - Cubic Meter
CBFT - Cubic Feet
C&F - Cost and Freight
C&F FO - Cost & Freight Free Out
CHOPT - Charterers Option
CHTRS - Charterers
CIF - Cost, Insurance & Freight
CKD - Completely knocked down
COA - Contract of Affreightment
COACP - Contract of Affreightment Charter Party
COB - Closing of Business
COD - Cash on Delivery
COGSA - Carriage of Goods by Sea Act
CONS - Consumption
COP - Custom Of The Port
CP - Charter Party
CPD - Charterers Pay Dues
CPT - Carriage Paid To
CQD - Customary Quick Dispatch
CR - Current Rate
CROB - Cargo Remaining on Board
CRN - Crane
CST - Centistoke
CTR - Container Fitted
DAPS - Days All Purposes
DAMFORDET - Damages for Detention
DDU - Delivery Duty Unpaid
DDP - Delivery Duty Paid
DEM - Demurrage
DHDATSBE - Dispatch Half Demurrage on All Time Saved Both Ends
DHDWTSBE - Dispatch Half Demurrage on Working TIme Saved Both Ends
DISCH - Discharge
DK - Deck
DOP - Dropping Outward Pilot
DOT - Department of Transportation
DNRCAOSLONL - Discountless and Non-Returnable Cargo and/or Ship Lost or Not Lost
DRK - Derrick
DWAT - Deadweight
EC - East Coat
EIU - Even if used
ELVENT - Electric Ventilation
ETA - Estimated Time of Arrival
ETC - Estimated Time of Completion
ETD - Estimated Time of Departure
ETS - Estimated Time of Sailing
EXW - Ex Works
FAS - Free Alongside Ship
FCA - Free to Carrier
FDEDANRSAOCLONL - Freight Deemed Earned Discountless & Non-Refundable Ship &/or Cargo Lost Or Not Lost
FDESP - Free Dispatch
FDD - Freight Demurrage Deadfreight
FDIS - Free Discharge
FEU - Standard 40' Container
FHEX - Fridays, Holidays Excepted (Muslim Countries)
FHINC - Fridays, Holidays Included (Muslim Countries)
FILO - Free In/Liner Out
FIOS - Free In & Out & Stowed
FIOST - Free In & Out, Stowed & Trimmed
FIOT - Free In & Out & Trimmed
FIW - Free In Wagon
FMC - Federal Maritime Commission
FMS - Fathoms
FO - Fuel Oil
FOB - Free On Board
FOG - For Our Guidance
FOQ - Free On Quay
FOQ - Free On Truck
FOW - Free On Wharf
FWAD - Fresh Water Arrival Draft
FWDD - Fresh Water Departure Draft
FYG - For Your Guidance
FYI - For Your Information
GA - General Average
GLS - Gearless
GNCN- General Conditions
GN -Grain
GO -Gas Oil
GRD- Geared
GRT -Gross Restricted Tonnage
GSB -Guaranteed Safe Berth
GSP -Good Safe Port
GTEE- Guarantee
HA -Hatch
HDLTSBENDS -Half Dispatch Lay Time Saved Both Ends
HDWTS -Half Dispatch Working Time Saved
HMS -Heavy Metal Scraps
HO- Hold
HW -High Water
IMDG -International Maritime Dangerous Goods Code
IMO- International Maritime Organization
IND -Indication
IU -If Used
IUHTAUTC -If Used, Half Time Actually to Count
I WL -Institute Warranty Limits
LAT- Latitude
LOA -Length Overall of the Vessel
LW -Low Water
LYCN -Laycan (Layday Cancelling Date)
MB -Merchant Broker
MDO- Marine Diesel Oil
MOLCHOPT -More or Less Charterers Option
MOLOO- More or Less Owners Option
MT -Metric Ton
M/V -Motor Vessel
NAABSA -Not Always Afloat but Safely Aground
NCB -National Cargo Bureau
NOR -Notice of Readiness
NRT -Net Restricted Tonnage
NYPE- New York Produce Exchange
OO -Owners Option
OSH- Open Shelter Deck
OWS -Owners
PC -Period of Charter
PCGO -Part Cargo
PCT -Percent
PDPR- Per Day Pro-rated
PHPD -Per Hatch Per Day
PRATIQUE -License or permission to use a port
PWWD -Per Weather Working day
RCVR -Receivers
ROB -Remaining on Board
RT -Revenue Ton
SATPM -Saturday P.M.
SB -Safe Berth
SD -Single Decker
SELFD -Self Discharging
SF -Stowage Factor
SHEX -Sundays, Holidays Excepted
SHINC -Sundays, Holidays Included
SL Bale (capacity)
SOC- Shipper Owned Container
SOF -Statement of Facts
SP -Safe Port
SRBL -Signing and Releasing Bill of Lading
SSHEX- Saturdays, Sundays, Holidays Excluded
SSHINC- Saturdays, Sundays, Holidays Included
STEM -Subject to Enough Merchandise
SUB -Subject (to)
SWAD- Salt Water Arrival Draft
SWDD -Salt Water Departure Draft
TC -Time Charter
TEU- Standard 20' Container
TTL -Total
TW -Tween Decker
USC -Unless Sooner Commenced
UU -Unless Used
UUIWCTAUTC -Unless Used In Which Case Time Actually Used To Count
VPD -Vessel Pays Dues
WIBON -Whether In Berth Or Not
WIFPON- Whether In Free Pratique Or Not
WCCON- Whether Customs Cleared Or Not
WIPON -Whether In Port Or Not
WLTOHC- Water Line-To-Hatch Coaming
WOG -Without Guarantee
WP- Weather Permitting
WWD- Weather Working Day
WRIC -Wire Rods In Coils
WWR -When, Where Ready
YAR -York Antwerp Rules
Z UTC=GMT
Friday, October 17, 2008
INCOTERM 2000
The 13 International Incoterms are:
Departure of goods by international transport with the risks and dangers to the Seller (Exporter) and Buyers (Importers)
Departure of goods by international transport with the risks and dangers to the Seller (Exporter) and Buyers (Importers)
-
"EXW"- Ex Works
Title and risk pass to buyer including payment of all transportation and insurance cost from the seller's door. Used for any mode of transportation.
Seller : In EXW shipment terms the Seller (Exporter) provides the goods for collection by the Buyer (Importer) on the seller or exporter's promise. Responsibility for the seller is to put the goods, in a good package which is adaptable and disposable by the transport.
Buyer : The buyer or Importer arranges insurance for damage transit goods. The Buyer or importer has to bear all costs and risks involved in shipment transactions.
(However, if the parties wish the seller to be responsible for the loading of the goods on departure and to bear the risks and all the costs of such loading, this should be made clear by adding explicit wording to this effect in the contract of sale. ) -
"FCA"- Free Carrier named point
"FCA"- Free Carrier named point: Title and risk pass to buyer including transportation and insurance cost when the seller delivers goods cleared for export to the carrier. Seller is obligated to load the goods on the Buyer's collecting vehicle; it is the Buyer's obligation to receive the Seller's arriving vehicle unloaded.
Seller : The Seller’s responsibility is to deliver the goods into the custody of the transporters at defined points. It is important for the chosen place of delivery to have an impact on the obligations of loading and unloading the goods.
Buyer : The Buyer nominates the means of transport or shipping mode and pays the shipment charges.
The seller and the buyer agree upon the place for delivery of goods. If the buyer nominates a person other than a carrier or transporter to receive the goods, the seller is deemed to fulfill his obligation to deliver the goods when they are delivered to that person. -
"FAS"- Free Alongside Ship
FAS- Free Alongside ship: Title and risk pass to buyer including payment of all transportation and insurance cost once delivered alongside ship by the seller. Used for sea or inland waterway transportation. The export clearance obligation rests with the seller.
In FAS has price includes all the costs incurred in delivering the goods alongside the vessel at the port or nominated place of the buyer but there is not applicable charges to the seller for loading the goods on board of vessel and no ocean freight charges and marine insurance.
Seller: The responsibility of the seller are fulfilled when the goods are placed cleared along the ship.
Buyer: Buyer or Importer bear all the expenses and risks of loss or damage of transit goods which are delivered along the ship. -
"FOB" - Free On Board
The FOB (Free on Board) price is inclusive of Ex-Works price, packing charges, transportation charges upto the place of shipment., Seller also responsible for o clear customs dues, quality inspection charges, weight measurement charges and other export related dues. It is important that the shipment term in the Bill of Lading must carry the wording "Shipped on Board' it must bear with signature of transporter or carrier or his authorized representative with the date on which goods were "Boarded".
Seller :Seller responsible for clear customs dues, quality inspection charges, weight measurement charges and other export related dues. It is important that the shipment term in the Bill of Lading must carry the wording "Shipped on Board' it must bear with signature of transporter or carrier or his authorized representative with the date on which goods were "Boarded".
Buyer : The buyer indicates the ship and pays freight, transfer expenses and risks is done when the goods passes or forwarding to the buyers warehouse by rail or ship. -
"CFR"- Cost And Freight
In this term the exporter bears the cost of carriage or transport to the selected destination port, in this term the risk transferable to the buyers at the port of shipment.
Seller: The chooses the carrier, concludes and bears the expenses by paying freight to the agreed port of destination, unloading not included. The loading of the duty-paid goods on the ship falls on him as well as the formalities of forwarding. On the other hand, the transfer of risks is the same one as in FOB.
Buyer: The buyers supports all the risk of transport, when the goods are delivered aboard by ship at the loading port, buyer receives it from the carrier and takes delivery of the goods from nominated destination port. -
"CIF"- Cost, Insurance And Freight
CIF- Cost, Insurance and Freight: Title and risk pass to buyer when delivered on board the ship by seller who pays transportation and insurance cost to destination port. Used for sea or inland waterway transportation.
This Term involves insurance with FOB price and ocean freight. The marine insurance is obtained by the exporter at his cost against the risk of loss or damage to the goods during the carriage.
Seller: The CFR extends additional obligation to the seller for providing a maritime So insurance against the risk of loss or damage to the goods. The seller pays the insurance premium.
Buyer: He supports the risk of transportation, when the goods have been delivered aboard the ship at the loading port. He takes delivery of the goods from the carrier to the appointed port or destination. -
"CPT"- Carriage Paid To
CPT- Carriage Paid To: Title, risk and insurance cost pass to buyer when delivered to carrier by seller who pays transportation cost to destination. Used for any mode of transportation.
This term uses land transport by rail, road and inland waterways. The seller and exporter are responsible for the carriage of goods to the nominated destination and have to pay freight up the first carrier.
Seller: The seller or exporter controls the supply chain after paying customs clearance for export. Seller or Exporter select the carrier and pay the expenses up to the destination.
Buyer: The risks of goods damages or loss are supported by the buyer as goods are given by the first carrier. The buyer or importer has to pay importation customs clearance and the unloading costs. -
"CIP"- Carriage And Insurance Paid To
CIP- Carriage and Insurance Paid To: Title and risk pass to buyer when delivered to carrier by seller who pays transportation and insurance cost to destination. Used for any mode of transportation.
This term is similar to Carriage Paid To but the seller has to arrange and pay for the insurance against the risk or loss or damage of the goods during the shipment.
Seller: The seller or buyer has to provide insurance and seller pays the freight and insurance premium.
Buyer: The buyer or importer supports the risks of damages or loss, as goods are given to the first carrier. The buyer has to pay customs clearance and unloading charges. -
"DAF"- Delivered At Frontier
DAF- Delivered At Frontier: Title, risk and responsibility for import clearance pass to buyer when delivered to named border point by seller. Used for any mode of transportation.
This term is used when the goods are to be carried by rail or road.Seller : The seller is responsible to make the goods available to the buyer by the carrier till the customs border as defined in sales contract.
Buyer : The buyer takes delivery of the goods at the contract agreed point border and he is responsible for bearing all customs formalities. -
DES"- Delivered Ex-Ship
DES- Delivered Ex-Ship: Title, risk, responsibility for vessel discharge and import clearance pass to buyer when seller delivers goods on board the ship to destination port. Used for sea or inland waterway transportation.
Seller: The seller is responsible to make the goods available to the buyer up to the named quay or after crossing the customs border.
Buyer: The buyer takes delivery of the goods from ship at destination port and pays the expenses of unloading. -
DEQ"- Delivered Ex-Quay
DEQ- Delivered Ex-Quay: Title and risk pass to buyer when delivered on board the ship at the destination point by the seller who delivers goods on dock at destination point cleared for import. Used for sea or inland waterway transportation. -
"DDU"- Delivered Duty Unpaid
DDU- Delivered Duty Unpaid: Seller fulfills his obligation when goods have been made available at the named place in the country of importation.
Seller: The seller is responsible for all transportation cost and accept the customs duty and taxes as per defined in customs procedures.
Buyer: The buyer is responsible of the importation customs formalities. -
"DDP"- Delivered Duty Paid
DDP- Delivered Duty Paid: Title and risk pass to buyer when seller delivers goods to the named destination point cleared for import. Used for any mode of transportation.
Seller: The seller is responsible to make the goods available to the buyer at his risk and cost as promised by the buyer. All the Taxes and duty on importation is promised by the buyer to the seller.
Buyer: The buyer is responsible to take delivery at a nominated place and pays the expenses for unloading of goods.
Monday, October 6, 2008
CHARTERING ABBREVIATIONS
Abbreviation | Meaning |
AA | Always Afloat |
AAAA | Always Accessible Always Afloat |
AAOSA | Always Afloat or Safe Aground. Condition for a vessel whilst in port |
AARA | Amsterdam-Antwerp-Rotterdam Area |
ABAFT | Toward the rear (stern) of the ship. Behind. |
ABOARD | On or within the ship |
ABOVE DECK | On the deck (not over it - see ALOFT) |
ABT | About |
ADCOM | Address Commission |
ADDENDUM | Additional chartering terms at the end of a charter party |
AFSPS | Arrival First Sea Pilot Station (Norway) |
AFFREIGHTMENT | The hiring of a ship in whole or part |
AFT | At or towards the stern or rear of a ship |
AGROUND | Touching or fast to the bottom |
AGW | All Going Well |
AHL | Australian Hold Ladders |
AIDS TO NAVIGATION | Artificial objects to supplement natural landmarks indicating safe and unsafe waters |
ALOFT | Above the deck of the ship |
AMIDSHIPS | In or toward the centre of the ship |
A/N | Arrival Notice - an import document send to the notify party and/or importer's broker containing all necessary arrival info for Customs clearance; normally with freight charges. |
ANCHORAGE | A place suitable for anchorage in relation to the wind, seas and bottom |
ANTHAM | Antwerp-Hamburg Range |
APS | Arrival Pilot Station |
ARAG | Amsterdam-Rotterdam--Antwerp-Gent Range |
ARBITRATION | Method of settling disputes which is usually binding on parties. A clause usually in a charter party |
A/S | Alongside |
ASBA | American Shipbrokers Association |
ASN | Advance Shipment Notice |
ASPW | Any Safe Port in the World |
ASTERN | In the back of the ship, opposite of ahead |
ATA | Actual time of arrival |
ATD | Actual time of departure |
ATDNSHINC | Any Time Day/Night Sundays and Holidays Included |
ATFI | ATFI |
ATHWARTSHIPS | At right angles to the centreline of the ship |
ATUTC | Actual Times Used to Count |
AWB | Air waybill |
BACKLETTER | Where a seller/shipper issues a 'letter of indemnity' in favour of the carrier in exchange for a clean bill of lading |
BAF | 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. |
BALE CAP. | Cubic capacity of a vessels holds to carry packaged dry cargo such as bales/pallets |
BALLAST | Heavy weight, often sea water, necessary for the stability and safety of a ship which is not carrying cargo |
BALLAST BONUS | Compensation for relatively long ballast voyage |
BAREBOAT CHTR. | Bareboat Charter - Owners lease a specific ship and control its technical management and commercial operations only. Charterers take over all responsibility for the operation of the vessel and expenses for the duration. |
BBB | Before Breaking Bulk. Refers to freight payments that must be received before discharge of a vessel commences |
BDI | Both Dates Inclusive |
BEAM | The maximum breadth or the greatest width of a ship |
BELOW | Beneath the deck |
BENDS | Both Ends (Load & Discharge Ports) |
BI | Both Inclusive |
BIMCO | The Baltic and International Maritime Council |
BL | Bale |
B/L | (Bill of Lading) A document signed by the carrier which acts as a Contract of Affreightment, a receipt and evidence of title to the cargo. |
BM | Beam |
BN | Booking Note |
BOB | Bunker on Board |
BOFFER | Best Offer |
BOW | The forward part of a ship |
BROB | Bunkers Remaining on Board |
BROKERAGE | Percentage of freight payable to broker (by owners in c/p's) or applicable to sale or purchase |
BSS | Basis |
BSS 1/1 | Basis 1 Port to 1 Port |
BT | Berth Terms |
BULKHEAD | A vertical partition separating compartments |
BUNDLING | This is the assembly of pieces of cargo, secured into one manageable unit. This is relevant to items such as Structural Steel, Handrails, Stairways etc. Whilst 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. |
BUNKERS | Name given for vessels Fuel and Diesel Oil supplies (Originates from coal bunkers) |
BUOY | An anchored float used for marking a position on the water or a hazard or a shoal and for mooring |
BWAD | Brackish Water Arrival Draft |
CAF | Currency Adjustment Factor. A fee applied to the shipping costs to compensate for exchange rate fluctuations. |
CBM | Cubic Metres |
CBFT (or CFT) | Cubic Feet |
CFR (or C&F) | Cost and Freight |
CHART | A map used by navigators |
CHOPT | Charterers Option |
CHTRS | Charterers |
CIF | Cost, Insurance & Freight. Seller pays all these costs to a nominated port or place of discharge. |
CKD | Completely knocked down |
COA | Contract of Affreightment - Owners agree to accept a cost per revenue tonne for cargo carried on a specific number of voyages. |
CIP | Carriage and Insurance paid to... |
C.O. | Certificate of Origin - a signed statement from a semiofficial organization certifying the origin of an export item, required by certain nations. |
COACP | Contract of Affreightment Charter Party |
COB | Closing of Business |
COBLDN | Closing of Business London |
COD | Cash On Delivery |
COGSA | Carriage of Goods by Sea Act |
CONGESTION | Port/berth delays |
CONS | Consumption |
CNEE | CONSIGNEE. Name of agent, company or person receiving consignment |
COP | Custom Of Port |
CP (or C/P) | Charter Party |
CPD | Charterers Pay Dues |
CPT | Carriage Paid To |
CQD | Customary Quick Despatch |
CR | Current Rate |
CROB | Cargo Remaining on Board |
CRN | Crane |
CRT | Cargo Retention Clauses, introduced by charterers based on shortage of delivered cargo because of increased oil prices |
CST | Centistoke |
CTR | Container Fitted |
DA | Disbursement Account |
DAF | Deliver At Frontier |
DAPS | Days all Purposes (Total days for loading & discharging) |
DAMFORDET | Damages for Detention. Penalty if cargo is not ready when ship arrives for working (1st day of Laycan). This is not detention which is charged for ships time on delay. If the cargo is ready there is no DAMFORDET. |
DDU | Delivered Duty unpaid. |
DDP | Delivered Duty Paid. |
DECK | A permanent covering over a compartment, hull or any part thereof |
DEM | Demurrage (Quay Rent). Money paid by the shipper for the occupying port space beyond a specified "Free Time" period. |
DEQ | Delivered Ex Quay |
DES | Delivered Ex Ship |
DESP | Despatch. Time saved, reward for quick turnaround- in dry cargo only |
DET | Detention (See DAMFORDET) |
DEV | Deviation. Vessel departure from specified voyage course |
DFRT | Deadfreight. Space booked by shipper or charterer on a vessel but not used |
DHDATSBE | Despatch Half Demurrage on All Time Saved Both Ends |
DHDWTSBE | Despatch Half Demurrage on Working Time Saved Both Ends |
DISCH | Discharge |
DK | Deck |
DLOSP | Dropping Last Outwards Sea Pilot (Norway) |
DO | Diesel Oil |
DOLSP | Dropping Off Last Sea Pilot (Norway) |
DOP | Dropping Outward Pilot |
DOT | Department of Transport |
DNRCAOSLONL | Discountless and Non-Returnable Cargo and/or Ship Lost or Not Lost |
DRAUGHT (or DRAFT) | 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. |
DRK | Derrick |
DUNNAGE | 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 tynes of a fork lift truck may be inserted. |
DWAT (or DWT) | Deadweight. Weight of cargo, stores and water, i.e. the difference between lightship and loaded displacement. |
EBB | A receeding current |
EC | East Coast |
EIU | Even If Used |
ELVENT | Electric Ventilation |
ETA | Estimated Time of Arrival - the projected date and time a shipment is scheduled to arrive at its destination. |
ETC | Estimated Time of Completion |
ETD | Estimated Time of Departure - the projected date and time a shipment is scheduled to depart from the port/airport of origin. |
ETS | Estimated Time of Sailing |
EXW | Ex Works |
FAC | Fast as can |
FAS | Free Alongside Ship. Seller delivers goods to appropriate dock or terminal at port of embarkation and buyer covers costs and risks of loading |
FCA | Free to Carrier. A modern equivalent of FAS used in intermodal transport where goods are transferred at a nominated forwarders premises, depot or terminal but not actually on board vessel. |
FCL | Full Container Load - a container that is fully loaded by cargo, occupying all space, or loaded to the maximum permissable weight. It can contain cargo from multiple shippers, but normally is consigned to the same consignee. The shipment is expected to be delivered to the consignee with the shipper's seal intact. |
FD (FDIS) | Free Discharge |
FDD | Freight Demurrage Deadfreight |
FDESP | Free Despatch |
FDEDANRSAOCLONL | Freight Deemed Earned, Discountless And Non-Returnable (Refundable) Ship And Or Cargo Lost Or Not Lost |
FENDER | A cushion, placed between ships, or between a ship and a pier, to prevent damage |
FEU | Standard 40’ Container, forty-foot equivalent unit, a standard size intermodal container. |
FHEX | Fridays/Holidays Excluded |
FHINC | Fridays/Holidays Included |
FILO | Free In/Liner Out. Seafreight with which the shipper pays load costs and the carrier pays for discharge costs. |
FIO | Free In/Out. Freight booked FIO includes the seafreight, but no loading/discharging costs, i.e. the charterer pays for cost of loading/discharging cargo. |
FIOS | Free In/Out Stowed. As per FIO, but excludes stowage costs. |
FIOST | Free In/Out and Trimmed. Charterer pays for cost of loading/discharging cargo, including stowage and trimming. |
FIOT | Free In/Out and Trimmed. As per FIOS but includes trimming, e.g. the levelling of bulk cargoes. FIOS includes seafreight, but excludes loading/discharging and stowage costs. |
FIT | Free In Trimmed |
FIW | Free In Wagon |
FIXING | Chartering a Vessel |
FIXTURE | Conclusion of shipbrokers negotiations to charter a ship - an agreement |
FLATPACKING | Cargo to be presented stacked and secured as an integral unit. |
FLT | Full Liner Terms |
FMC | Federal Maritime Commission |
FME | Force Majeure Excepted |
FMS | Fathoms |
FO | For Orders |
FO (IFO) | Fuel Oil/Intermediate FO |
FO | Free Out |
FOB | Free on Board. Seller sees the goods "over the ship’s rail" on to the ship which is arranged and paid for by the buyer |
FOFFER | Firm Offer |
FOG | For Our Guidance |
FOQ | Free On Quay |
FOR | Free On Rail |
FORCE MAJEURE | Clause limiting responsibilities of the charterers, shippers and receivers of cargo. |
FORE-AND-AFT | In a line parallel to the keel |
FORWARD | Toward the bow of the ship |
FOT | Free On Truck |
FOW | First Open Water |
FOW | Free On Wharf |
FP | Free Pratique. Clearance by the Health Authorities |
FR | First Refusal. First attempt at best offer that can be matched |
FREEBOARD | The minimum vertical distance from the surface of the water to the gunwale |
FRT | Freight. Money payable on delivery of cargo in a mercantile condition |
FREE DESPATCH | If loading/discharging achieved sooner than agreed, there will be no freight money returned. |
FREE EXINS | Free of any Extra Insurance (Owners) |
FREE OUT | Free of discharge costs to owners. Includes seafreight only. |
FRUSTRATION | Charterers when cancelling agreement sometimes quote 'doctrine of frustration' i.e. vessel is lost, extensive delays. |
FWAD | Fresh Water Arrival Draft |
FWDD | Fresh Water Departure Draft |
FYG | For Your Guidance |
FYI | For Your Information |
GA | General Average |
GEAR | A general term for ropes, blocks, tackle and other equipment |
GLS (GLESS) | Gearless |
GNCN | Gencon (GENERAL CONDITIONS) |
GN (or GR) | Grain (Capacity) |
GO | Gas Oil |
GP | Grain Capacity. Cubic capacity in 'grain' |
GR | Geographical Rotation. Ports in order of calling |
GRD | Geared |
GRI | General Rate Increase. Used to describe an across-the-board tariff rate increase implemented by conference members and applied to base rates. |
GRT | Gross Registered Tonnage |
GSB | Good, Safe Berth |
GSP | Good, Safe Port |
GTEE | Guarantee |
GUNWALE | The upper edge of a ship's sides |
2H | Second Half |
HA | Hatch |
HAGUE RULES | Code of minimum conditions for the carriage of cargo under a Bill of Lading |
HATCH | An opening in a ship's deck fitted with a watertight cover |
HBF | Harmless Bulk Fertilizer |
HDLTSBENDS | Half Despatch Lay Time Saved Both Ends |
HDWTS | Half Despatch Working (or Weather) Time Saved |
HHDW | Handy Heavy d.w. (Scrap) |
HIRE | T/C Remuneration |
HMS | Heavy Metal Scraps |
HO | Hold |
HOLD | A compartment below deck in a large vessel, used solely for carrying cargo |
HULL | The main body of a ship |
HW | High Water |
ICW | Intercoastal Waterway : bays, rivers, and canals along the coasts (such as the Atlantic and Gulf of Mexico coasts), connected so that vessels may travel without going into the sea |
IMDG | International Maritime Dangerous Goods Code |
IMO | International Maritime Organisation |
IN &/OR OVER | Goods carried below and/or on deck |
INCOTERMS | (Refer to comments in covering statement on front page A-F) |
IND | Indication |
INTERMODAL | Carriage of a commodity by different modes of transport, i.e. sea, road, rail and air within a single journey |
ITF | International Transport Workers Federation (Trade Unions). Complies on crewing |
ISPS | International Ships and Port Security System |
ITINERARY | Route.Schedule |
IU | If Used |
IUHTAUTC | If Used, Half Time Actually To Count |
IWL | Institute Warranty Limits |
KEEL | The centreline of a ship running fore and aft; the backbone of a vessel |
KNOT | A measurement of speed equal to one nautical mile (6,076 feet) per hour |
LANE METER | A method of measuring the space capacity of Ro/Ro ships whereby each unit of space (Linear Meter) is represented by an area of deck 1.0 meter in length x 2.0 meters in width. |
LASH | To hold goods in position by use of Ropes, Wires, Chains or Straps etc. |
LAT | Latitude. The distance north or south of the equator measured and expressed in degrees. |
LAYCAN | Laycan (Layday Cancelling Date) |
LAYTIME | Time at Charterers disposal for purpose of loading/discharging |
L/C | Letter of Credit |
LCL | Less than Container Load - a shipment that takes up only a portion of a consolidated container. LCL shpts are to be picked up at a CFS only, whereas FCL are to be picked up at a container yard/terminal. |
LCR | Lowest Current Rate |
LEE | The side sheltered from the wind |
LEEWARD | The direction away from the wind. Opposite of windward |
LEEWAY | The sideways movement of the ship caused by either wind or current |
LF | Load Factor. Percentage of cargo or passengers carries e.g. 4,000 tons carried on a vessel of 10,000 capacity has a load factor of 40% |
LIEN | Retention of property until outstanding debt is paid |
LNG | Liquefied Natural Gas |
LOA | Length Overall of the vessel |
LOAD LINE | See PLIMSOLL LINE |
LOF | Lloyds Open Form |
LOG | A record of courses or operation. Also, a device to measure speed |
LOI | Letter of Indemnity |
LONGITUDE | The distance in degrees east or west of the meridian at Greenwich, England |
LOW | Last Open Water |
LS (or LUMPS) | Lumpsum Freight. Money paid to Shipper for a charter of a ship (or portion) up to stated limit irrespective of quantity of cargo |
LSD | Lashed Secured Dunnaged |
LT | Liner Terms |
LT | Long Ton = 1,016.05 kilogram (2,240 lbs) |
LTHH | Liner Terms Hook/Hook |
LW | Low Water |
LYCN | Laycan (Layday Cancelling Date) |
MANIFEST | Inventory of cargo on board |
MB | Merchant Broker |
MDO (DO) | Marine Diesel Oil |
MIDSHIP | Approximately in the location equally distant from the bow and stern |
MIN/MAX | Minimum/Maximum (cargo quantity) |
MOA | Memorandum of Agreement |
MOLCHOPT | More or Less Charterers Option |
MOLOO | More or Less Owners Option |
MOORING | An arrangement for securing a ship to a mooring buoy or pier |
MT | Mertic Tonne (i.e. 1,000 kilos) |
M/V | Motor Vessel / Merchant Vessel |
NAABSA | Not Always Afloat But Safely Aground |
NM | Nautical Mile. One minute of latitude; approximately 6,076 feet - about 1/8 longer than the statute mile of 5,280 feet |
NAVIGATION | The art and science of conducting a ship safely from one point to another |
NCB | National Cargo Bureau |
NESTING | Implies that cargo is presented stacked in the contour of similarly shaped cargo, it may be likened to a stack of plates. This is particularly relevant in the presentation of tankage strakes for transport |
NON-REVERSIBLE | (Detention). If loading completed sooner than expected, then saved days will not be added to discharge time allowed. |
NOR | Notice of Readiness |
NRT | Net Restricted Tonnage |
NYPE | New York Produce Exchange |
OO | Owners Option |
OBO | Ore/Bulk/Oil Vessel |
OSH | Open Shelter Deck |
OVERBOARD | Over the side or out of the ship |
OWS | Owners |
P&I | Protection and Indemnity Insurance |
PASTUS | Past Us |
PC | Period of Charter |
PCGO | Part Cargo |
PCT | Percent |
PDPR | Per Day Pro Rata |
PERDIEM | By the Day |
PER SE | By Itself |
PHPD | Per Hatch Per Day |
PLIMSOLL MARK alt. PLIMSOLL LINE alt. LOAD LINE | An internationally recognised line painted on the side of merchant ships. When a ship is loaded, the water level is not supposed to go above the line. Water can reach different parts of the line as its temperature and saltiness varies with the season and location. From where Plimsoll Shipping derived its name. |
PORT | The left side of a ship looking forward. A harbour. |
PRATIQUE | Licence or permission to use a port |
PREAMBLE | Introduction to a charter party |
PROFORMA | Estimated Account |
PUS | Plus Us |
PWWD | Per Weather Working Day |
RCVR | Receiver |
RECAP | Recapitulation of the terms and conditions agreed |
REVERSIBLE | (Detention). If loading completed sooner than expected at load port, then days saved can be added to discharge operations. |
ROB | Remaining On Board |
RT | 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. |
SATPM | Saturday P.M. |
SB | Safe Berth |
SD (or SID) | Single Decker |
SEAFREIGHT | Costs charged for transporting goods over the sea. This does not cover haulage or loading/discharging costs but the sea transport only |
SEAWORTHINESS | Statement of condition of the vessel (valid certificates, fully equipped and manned etc.) |
SELFD | Self Discharging |
SEMI-TRAILERS | Are usually 12.0 meter flat bed road trailers |
SF | Stowage Factor. Cubic space (measurement tonne) occupied by one tonne (2,240 lbs/1,000 kgs) of cargo |
SHINC | Sundays/Holidays Included |
SHEX | Sundays/Holidays Excluded |
SHPR | Shipper - the party in whose name a contract of carriage of goods has been concluded with at carrier or any party by whom, in whose name or on whose behalf the goods are actually delivered to the carrier in relation to the contract of carriage. |
SKIDS | Are bearers (timber or steel) positioned under the cargo to enable forklift handling at port, and for ease of rigging and lashing on board ship. |
SN | Satellite Navigation - A form of position finding using radio transmissions from satellites with sophisticated on-board automatic equipment |
SOC | Shipper Owned Container |
SOF | Statement of Facts |
SP | Safe Port |
SPIDERING | Is the strengthening of circular tanks for transport, this prevents the tanks from becoming warped. The tanks are strengthened with steel or wood crossbeams giving a "spider" appearance |
SRBL | Signing and Releasing Bill of Lading |
SSHEX | Saturdays, Sundays, Holidays Excluded |
SSHINC (or SATSHINC) | Saturdays, Sundays, Holidays Included |
STABILITY | It is paramount that a vessel is stable in all aspects at all times. When cargo is loaded/discharged, the stability is monitored by a computer, which takes into account the weight and position of cargo within the vessel. |
STARBOARD | Right side of a ship when facing the front or forward end. |
STEM | Subject to Enough Merchandise (Availability of cargo). Also, the forward most part of the bow. |
STERN | The aformost or after part of a ship |
SUB | Subject (to). Depending upon as a condition |
SUPERCARGO | 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. |
SWAD | Salt Water Arrival Draft |
SWDD | Salt Water Departure Draft |
THWARTSHIPS | At right angles to the centreline of the ship |
TIDE | The periodic rise and fall of water level in the oceans |
TIME BAR | Time after which legal claims will not be entered |
TBN | To Be Named / To Be Nominated |
TC | Time Charter - Owners agree to hire a particular ship for a set length of time and provide technical management, crewing etc. |
TCP | Time Charter Party |
TEU | Standard 20' Container, twenty-foot equivalent unit, a standard size intermodal container. |
TOPSIDES | The sides of a ship between the waterline and the deck; sometimes referring to onto or above the deck |
T/S | Transhipment - a shipping arrangement in which a shipment is discharged of the vessel at an intermediate port enroute and subsequently reloaded to another vessel for carriage to its final destinationl |
TRIM | Fore and aft balance of a ship |
TTL | Total |
TW | Tween Decker |
USC | Unless Sooner Commenced |
UU | Unless Used |
UUIWCTAUTC | Unless Used In Which Case Time Actually Used To Count |
VPD | Vessel Pays Dues |
WATERLINE | A line painted on a hull which shows the point to which a ship sinks when it is properly trimmed |
WAY | Movement of a ship through water such as headway, sternway or leeway |
WCCON | Whether Customs Cleared Or Not |
WIBON | Whether In Berth Or Not |
WIFPON | Whether In Free Pratique Or Not |
WINDWARD | Toward the direction from which the wind is coming |
WIPON | Whether In Port Or Not |
WLTOHC | Water Line-To-Hatch Coaming |
WOG | Without Guarantee |
WP | Weather Permitting. That time during which weather prevents working shall not count as laytime |
WPD | Weather Permitting Day |
WWD | Weather Working Day |
WRIC | Wire Rods In Collis |
WWR | When, Where Ready |
WWWW | Wibon, Wccon, Wifpon, Wipon |
YAR | York Antwerp Rules |
YAW | To swing or steer off course, as when running with a quartering sea |
Z | UTC = GMT |
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