Chartering Terms Abbreviations

A

AA or ASA: Always Afloat or Always Safely Afloat: Charter Party term stipulating that the ship is to berth for loading or discharging without touching the bottom of the sea/river/lake etc. In some ports it is customary for ships to be driven ashore safely on the seabed in order to load or unload in low tide periods. By the term “Always Afloat (AA)” it is emphasised that the owner does not agree to put his ship in such a process. See also “sitting aground” or “safely aground” and “NAABSA”.
AAAA: Always Accessible Always Afloat: The ship should reach the berth of the port “Always Afloat (AA)”. At the ship’s call in a port, a berth should be available so the ship to start loading or unloading without delay.
ABS: American Bureau of Shipping: American Classification Society.
ABT: About: A conditional term used in qualifying cargo, time, bunkers or speed. When discussing cargo, “About” usually covers a margin of 5% more or less (e.g. “about 100,000 mt ” means “100,000 mt 5% more or less, at Charterers’ Option”). When referring to a period of time it may be usually interpreted as meaning 15 days more or less, although each case is considered on its own merit. Regarding speed, the tolerance is generally half knot.
ACCT: Account: On behalf of, responsible for, bill.
AD.VAL: Ad Valorem: Proportionately to the value of something such as Freight Rate determined in accordance with the value of the cargo.
ADCOM: Address Commission: It is a commission on the Freight or Hire. It is due to the Charterer by the Shipowner and is deducted from the payable amount of Freight or hire. It is a form of “rebate for the closing of business” granted by the owner to the Charterer under a Charter Party. Unless agreed such a commission, the ship is “Free of Address”.
Advance Freight: In a Voyage Charter, unless it is otherwise agreed, it is an implied term that the Freight for the cargo carriage is considered earned and payable at the place of destination, upon cargo delivery to the consignee. If the ship and/or cargo are/is lost before the ship reaches at her destination, the Shipowner is not entitled to Freight. Thus, in some cases it is explicitly agreed in the Charter Party (Express Term) that a part or the whole of the Freight is Prepaid (payable in advance), to protect the right of the Shipowner for Freight earning even if the cargo is not delivered to the agreed destination. Freight Prepaid or Advance Freight is not generally reimbursable to the Charterer or Shipper even if the cargo is lost.
AFMT: After Fixing Main Terms: After main terms of the Charter Party have been fixed.
Aframax: A tanker ship typically ranging between 80,000–120,000 DWT.

AFSPS: Arrival First Sea Pilot Station: Time Charter term for the delivery of the ship to the Charterer. The ship is deemed to have been delivered by the owner to the Time Charterer once it has reached the first pilot station at the delivery port.
AG: Arabian Gulf: Synonym to “Persian Gulf ” or “Middle East Gulf ”.
AGW WP: All Going Well, Weather Permitting
AGW WP UCE: All Going Well, Weather Permitting, Unexpected Circumstances Excluded
Agency Fee: It is the remuneration of Agents (normally Ship Agents or Port Agents) for their provision of various services to a ship during its port call. The amount of Agency Fees may vary depending on the size of ship and the extent and nature of operations carried out, or it may be agreed on a lump sum basis.
AGW: All Going Well: If everything is in order and no unforeseen events or circumstances arise.
A/H: Antwerp to Hamburg: European coastline from Antwerp to Hamburg.

Always Accessible (AA): Always Accessible (AA) signifies that the Charterer guarantees the provision of an available loading or discharging Berth upon the ship’s arrival at the Port, which the ship can reach Safely Without Delay. Furthermore, the Charterer ensures that the ship can safely and promptly leave the Berth at any stage before, during, or after loading or discharging. Always Accessible (AA) is generally understood to be equivalent to Reachable On Arrival (ROA) regarding entry into a Berth
ANCH: Anchored: The ship has been/is anchored.
AOH: After Office Hours: After the closing of standard working hours.
APS: Arrival Pilot Station: Time Charter term for the delivery of the ship to the Charterer. The ship is deemed to have been delivered by the owner to the Time Charterer once it has reached the pilot station at the delivery port. Term disadvantageous for the Charterers. See also “TIP” for comparison.
APT: Aft Peak Tank: Fresh Water or Ballast Water tank located in the stern (aft) of the ship. It is considered important to the stability and seaworthiness of the ship.
ARA: Amsterdam – Rotterdam – Antwerp: Selection of European ports of call.
AR or ARD: Arrived or ARVL: Arrival of the Ship: The ship has arrived at the port/berth.
ASAP: As Soon As Possible: Immediately, promptly.

ASBA: Association of Shipbrokers and Agents USA: Association representing shipbrokers and agents with offices located in the USA and Canada.
ATDNSHINC: Any Time Day or Night Sundays Holidays Included: Term usually relating to a Time Charter suggesting that the delivery or redelivery of the ship can be performed any time of day, including Sundays and public Holidays.
ATSBENDS or ATSBE: All Time Saved Both Ends: Term related to Despatch, synonymous with “DBEATS”. The despatch amount is due at both ports (loading/unloading) for the total time saved from both operations. Therefore, the Despatch amount is calculated for the whole time saved from the completion of loading and unloading up to expiry of total “Laytime”. The periods of Laytime Exceptions are included in the calculation (see comparison with “AWTSBENDS”).
ATSDO: All Time Saved Discharging Only: Term related to Despatch Money (DM). The Despatch amount is due only at the discharging port for the total time saved in unloading operation. Therefore, the Despatch amount is calculated for the whole time saved from the completion of unloading up to expiry of the “Laytime”, including Laytime Exceptions.
ATSLO: All Time Saved Loading Only: Term related to Despatch Money (DM). The Despatch amount is due only at the loading port for the total time saved in loading operation. Therefore, the Despatch amount is calculated for the whole time saved from the completion of loading up to expiry of the “Laytime”, including Laytime Exceptions.
ATUTC: All Time Used To Count: Synonym to “Unless Used (UU)”.
Austa: Australasia: A region of Oceania, including Australia, New Zealand, the island of New Guinea and neighbouring islands in the Pacific Ocean.
Average Laytime: Average Laytime or To Average Laytime as separate calculations for loading and discharging, where any time saved in one operation is offset against any excess time used in the other. It occurs when separate calculations for each Port are combined to determine the overall outcome—for instance, time saved at one Port is subtracted from Demurrage time at another. For Average Laytime, loading and discharging calculations are performed separately, and then the times for Demurrage and Despatch are offset against each other to compute the final Demurrage (D) or Despatch Money (DM).
AWINL: Always Within International Navigating Limits (INL): The ship should always be employed within the geographical limits imposed by the ship’s insurance underwriters.
AWRI: Additional War Risk Insurance: It is an “extra” amount to be paid by the Time Charterer to the Shipowner of a Time Chartered ship, if Charterer wish to direct the ship in a port or area where military hostilities take place and the ship’s insurers require an Additional Premium to cover the corresponding war risk. In a voyage charter it must be clearly agreed between theShip owner and the Charterer who will be responsible to pay for this amount.
AWTSBENDS or AWTSBE or ALTSBENDS or ALTSBE: All Working Time Saved Both Ends or All Laytime Saved Both Ends: Term related to despatch, synonymous with “DBELTS”. The Despatch amount is due at both ports (loading/ unloading) only for the working time of the laytime saved from both operations. Therefore, the Despatch amount is calculated for the working time saved from the completion of loading and unloading up to expiry of total “Laytime”. The periods of laytime exceptions are excluded in the calculation (see comparison with “ATSBENDS”).
AWTSDO or ALTSDO: All Working Time Saved Discharging Only or All Laytime Saved Discharging Only: Term related to Despatch amount which is due only at the discharging port and only for the working time of the Laytime saved in unloading. Therefore, the Despatch amount is calculated for the working time saved from the completion of unloading up to expiry of “Laytime”. The periods of laytime exceptions are excluded from the calculation of Despatch.
AWTSLO or ALTSLO: All Working Time Saved Loading Only or All Laytime Saved Loading Only: Term related to Despatch amount which is due only at the loading port and only for the working time of the Laytime saved in loading. Therefore, the Despatch amount is calculated for the working time saved from the completion of loading up to expiry of “Laytime”. The periods of laytime exceptions are excluded from the calculation of Despatch.
AA – Always Accessible or Always Afloat – Term in charter party obliging the charterer to order the ship to a port or berth where she would not touch the bottom or perhaps be unavailable at any time due to tidal variations.
AAAA – Always Accessible and Always Afloat
AARA – Amsterdam-Antwerp-Rotterdam Area
ABT – About – A conditional term used in qualifying cargo, time, bunkers or speed: It usually covers a margin of 5 % for cargo at owner’s option, usually 15 days for time, 5% latitude for bunkers and half a knot tolerance for speed.
A/C – Account – Term used when referring to a bank account and when allocating costs, such as in the phrase “for the a/c of charterers”.
A/E or ACC/EXC – Accept/Except – Used by either the shipowner’s broker or the charterer’s broker during chartering negotiations to signify that an offer or counter-offer is accepted apart from certain clauses or details which are listed together with the amendments sought.
ADDCOM – Address Commission – Commission payable by the shipowner to the charterer to cover the charterer’s shipping department’s use of resources and for the latter to show income from activities.
Advance Freight – Freight payable at a time agreed by the shipowner and the shipper, before the goods are delivered at the place of destination in the contract of carriage.
AFSPS – Arrival First Sea Pilot Station – The term is used in time charterparties indicating that the ship is delivered from the shipowner to the time charterer the moment that she arrives at the first pilot station at the port of delivery.
AFT – At or towards the stern or rear of a ship
Affreightment – The hiring of a ship, the term may also sometimes be used to describe a contract for a series of voyages.
AG – Arabian Gulf (used when vessels are proceeding to Arabian ports).
AGW – All Going Well
Agency Clause – Clause in charterparty, which stipulates who nominates the ship’s agent at the loading and/or discharging ports.
Agency Fee – Fee payable by the shipowner or ship operator to a port agent, for the provision of port and ship related services at that port. ANTHAM – Antwerp-Hamburg Range
AP – All Purposes – Time allowed in a voyage charter for loading and discharging combined, expressed as a number of days and hours. “Approved” Charter – the expression used for charters – whether “agreed”, “adopted” or “recommended”.
APS – Arrival Pilot Station – Location often used as the place of delivery of a ship by the shipowner to the charterer at the commencement of a time charter. The hire charge commences from the time of arrival as long as it is within the laycan period.
ARA – Amsterdam-Rotterdam-Antwerp Range
ARAG – Amsterdam-Rotterdam-Antwerp-Ghent Range
Arbitration Clause – Clause in a charterparty, indicating that any dispute arising from the contract be resolved by arbitration and also indicates arbitration details.
Arrived Ship – In voyage charters the ship must have arrived before laytime can commence. Where the charterer has nominated a berth, the ship must have arrived at that berth. When a port is nominated, the ship must have arrived at the port. If unable to enter port a ship is considered arrived as long as it is within the legal, fiscal and geographical limits of the port such as the anchorage.
A/S – Alongside – berthed alongside the pier.
ASBA – Association of Ship Brokers and Agents (USA), Inc., New York.
ATS – All Time Saved: term used in a voyage charter party to define one method by which despatch money is calculated, that is, by deducting time used for loading and/or discharging, from a theoretical time up to the expiry of lay time which includes excepted periods.
ATDN – Any Time Day or Night – The term signifies that the shipowner may deliver the ship or that the charterer may redeliver the ship, at any time of the day or night and not necessarily during normal working hours. Often followed by SHINC (Sundays and holidays included).
ATDNSHINC – Any Time Day/Night Sundays and Holidays Included
ATUTC – Actual Times Used to Count
Average to Lay time – For a voyage charterer, to offset the time used in loading cargo against that used in discharging for the purpose of calculating demurrage or despatch.
AWRP – Additional War Risk Premium
A60 Steel Bulkhead – A60 Bulkhead is a fire-resistant wall or division constructed from steel and insulated with approved fireproof materials, designed to withstand fire exposure for 60 minutes (1 hour) without allowing the temperature on the unexposed side to rise more than specified limits. The “A60” designation comes from the International Maritime Organization (IMO) fire protection standards, specifically SOLAS (Safety of Life at Sea) regulations and FTP Code (Fire Test Procedures Code).The classification “A” refers to fire integrity and insulation standards: A-Class divisions are made of steel or equivalent material. They are capable of preventing flame and smoke from passing through for the duration of the test. The number (e.g., 0, 30, 60) indicates how many minutes the bulkhead can resist the fire before the unexposed side exceeds 140°C (average) or 180°C (at any point) above ambient temperature.

B

B4: Before: Previously than.
B4HAND: Beforehand: In advance.
B.A.: Buenos Aires: Main port and capital of Argentina.
BAF: Bunker Adjustment Factor: The Liner Freight is adjusted in accordance with fluctuations of the Bunkers (Fuel) Prices. Liner Shipping pricing schemes are normally including a floating part of the sea Freight Charge (BAF), which represents additions to the Freight paid, arising from changes to oil prices.

Baltic: It includes ports or places in the Baltic Sea.
Baltic Exchange: The most known shipping centre of the world, located in London.
BB: Ballast Bonus: It is a Lump Sum amount paid to the Shipowner as a “Bonus” compensating him for the “Ballast Trip” (Unladen Journey) carried out by the ship from the last port of call or the last port of the previous charter to the port on which the new charter begins (e.g. the delivery port at a Time Charter). From a Shipowner’s point of view, the “Ballast Bonus” should represent at least the cost of Bunkers (Fuel) and Time Spent to reach the ship at the port of the next charter. The “BB” practice is more prevalent in Time Charter, especially in periods of high Freight Rates.
BB: Below Bridges: It is indicating that the ship has to pass under bridges in a harbour to load or unload.
BB: Break Bulk: Cargo carried in the spaces of a ship in small quantities, packed in packages (parcels) or as individual items. It is generally considered as synonym to “General Cargo”. When the term is used as a verb (“Break Bulk”), it means “to open the holds and start unloading”.
BB: Bulbous Bow: The front part of a ship shaped in a bulbous form. It seeks to reduce the water resistance and increase the ship’s speed, in contrast to the V-shaped bow.
BBB: Before Breaking Bulk: It means “before start unloading”. It is typically used to denote that Voyage Freight is payable after the ship’s arrival at port of discharge, but prior to the start of unloading.
BBL: Barrel: Unit of liquid cargo measurement, typically oil. A Barrel equals to 34.97261 imperial gallons or 42 US gallons. Otherwise, 1 cubic metre of oil is equivalent to 6.29 barrels. If the specific weight of the oil is 0.8, a tonne of oil corresponds to about 7.9 barrels.
BC: Bulk Carrier: A ship carrying dry bulk cargo in its holds.
BCI: Baltic Capesize Index: Baltic Exchange Index, measuring an indicative daily level of Freight Rates for Capesize Bulk Carriers.
BDI: Baltic Dry Index: Baltic Exchange Index, measuring an indicative daily level of Freight Rates for all dry cargo ships. It replaced “BFI” in 1999.
BDI: Both Days Included: Days mentioned are included (e.g. in a calculation or notice).
Berth: Berth shall mean the specific place where the ship is to load or discharge and includes, but is not limited to, any wharf, anchorage, offshore facility, or other location used for handling cargo.
Berth Terms: Synonym to “Liner Terms”, but a wording rather outdated. The Freight rate earned by the Shipowner includes the cost of sea transport, the cost of cargo handling in ports of loading and unloading and the stevedore expenses. Shipowner bears the responsibility, as well as the cost and the time of the sea voyage, loading, unloading and stowage of the cargo. Berth is a Voyage Charter Party term, referring to the agreement about the speed of loading and unloading the ship, as well as the allocation of cargo-handling expenses. Such an agreement may be vague, stipulating for example that the ship should load or unload as fast as possible in accordance with the custom of the port.
BFI: Baltic Freight Index: It was one of the most important Baltic Exchange Indices, expressing the daily level of Freight Rates for all dry cargo ships from 1985 to 1999, when it was replaced by “BDI”.
B/H: Bordeaux to Hamburg, inclusive: European coastline from Bordeaux to Hamburg, including both of them.
BHF: Bulk Harmless Fertilisers: Dry cargo type.
BHSI, BHI, BHMI: Baltic Handysize Index, Baltic Handy Index, Baltic Handymax Index: Baltic Exchange Indices, measuring an indicative daily level of Freight rates for Handy Bulk Carriers (20,000 – 50,000 DWT).
BIBI: Bye-bye: Informal way of closing a business message.
BIFFEX: Baltic International Freight Futures Exchange: It was an exchange of Future Charter Contracts (Freight Futures), which allowed Shippers, Shipowners and Charterers to hedge their interests against unexpected and adverse changes in Freight Rates. Similarly, there was the BIFFEX Index which was the measure of trading of these contracts. From April 2002 Baltic Exchange has ceased the trading of BIFFEX Future Contracts.
BIMCO: Baltic and International Maritime Council: International maritime organisation with multi-faceted contribution in shipping and chartering matters.
B/L: Bill of Lading: A document issued by a carrier which details a shipment of merchandise and gives title of that shipment to a specified party. Its role is crucial in the international trade.
BL: Bale Capacity: The cargo capacity of ship’s holds, measured in cubic feet or cubic metres, excluding the Broken Stowage, i.e. the empty spaces created in the holds due to the uneven shape of the general cargo or the shape of holds. Bale Capacity is a key factor in calculating general cargo stowage. It is always smaller than the Grain Capacity of the ship. (except in special cases).
Bl Sea: Black Sea: A sea located between Southeastern Europe and Western Asia.
Bona Fide: Legal term translated as “In Good Faith”. It indicates that an action is taking place in good faith, with honesty and sincerity, without malice or bad intention.
Box: Container.
BPD or B/D: Barrels per Day: Unit of liquid cargo measurement per day.
BPI: Baltic Panamax Index: Baltic Exchange Index, measuring an indicative daily level of Freight Rates for Panamax Bulk Carriers (60,000–100,000 dwt).
BR: Brackish: Mixture of Salt Water and Fresh Water.
BRDTH: Breadth: Ship’s beam.
BRGDS: Best Regards: Greetings. Typical way of closing a business correspondence message.
Broken Stowage (BS): The empty spaces that are inevitably generated in the holds of the ship while loading, due to the uneven shape of the parts of general cargo or the shape of the holds.
Brokerage or Commission: It is the Shipbroker’s remuneration for closing a “Fixture” (Charter). It is expressed as a percentage of the Freight/Hire earned by the Shipowner. The term “Brokerage” is preferable to the term “Commission”, as the latter is related more to “Address Commission (ADCOM)”, i.e. a commission paid back to the Charterer or his Shipbrokers.
BSI: Baltic Supramax Index: Baltic Exchange Index, measuring an indicative daily level of Freight Rates for Supramax Bulk Carriers (50,000–60,000 DWT).
BSS: Basis: The base, the foundation for an idea, an argument, a calculation or a process.
BST: Best: Most, optimal.
BV: Bureau Veritas: French Classification Society.
BWAD: Brackish Water Arrival Draft: The maximum draft (or draught) of a ship on arrival at a port with Brackish Water (a mixture of Sea Water and Fresh Water). Such ports are commonly found in river estuaries. Brackish Water (BW) has a density between that of Fresh Water (FW) (1,000 kgs/cubic metre) and Salt Water (SW) (1,025 kgs/cubic metre). The draught of the ship to Brackish Water (BW) is higher than its draught to Salt Water (Sea Water) and less than its draught to Fresh Water. See also FWAD and SWAD.
Backfreight – Freight payable to a shipowner for the carriage of goods back to the port of loading or to another port when the vessel is unable to reach its destination because of an excepted peril or due to breach of the agreement by the consignee.
Bale/Bale Capacity – Total cubic capacity of a ship’s holds available for the carriage of cargo which is not capable of filling the spaces between the ship’s frames.
Baltic Mercantile & Shipping Exchange – Institution in London, also known as the Baltic Exchange whose main function is to provide facili- ties for the chartering of ships by its members principally charterers, shipbrokers, shipowners and agents.
Baltime – General Purpose Time Charterparty published by BIMCO.
BALLAST – Sea water necessary for the stability and safety of a ship when empty.
Bareboat Charter – The hiring of a ship for a period of time during which the shipowner provides the ship while the charterer provides the crew together with all stores and bunkers and pays all operating costs. Also referred to as a demise charter.
Barecon A – Standard bareboat charterparty published by BIMCO.
Barecon B – Standard bareboat charterparty used for newbuildings financed by mortgage, published by BIMCO.
BB – Ballast Bonus – Sum of money paid by a time charterer to a ship- owner to cover ballast voyage expenses
BBB – Before Breaking Bulk – A term of carriage that freight, or some percentage of it, becomes payable before breaking bulk (discharge of a vessel commences).
BDI – Both Dates Inclusive
Beam – The maximum breadth of a ship
Bends – Both Ends – At both loading and discharging ports. This term is often used together with GSAAAAB (Good Safe Always Afloat Always Accessible Berth), with OSP (One Safe Port), with OSB (One Safe Berth) and to qualify the prices of the bunkers on delivery and redelivery in a time charter. Also used to state agency determination (Charterer’s Agents Bends).
Berth Charterparty – Charterparty in which a particular berth is nominated by the charterer and laytime begins when in berth unless WIBON is agreed.
BI – Both Inclusive
BIMCO (The Baltic and International Maritime Council) – Association whose main object is to promote and defend the interests of shipowners and has contributed to the creation of a large number of charterparties and other shipping documents.
BIL – Bill of Lading – Document issued by a shipowner to a shipper of goods. It serves as a receipt for the goods, evidence of the contract of carriage and document of title.
Blt (Built) – Indicates when a ship was built (year).
BM (Beam) – The beam of a ship is its width at the widest point as measured at the ship’s nominal waterline.
BOB – Bunker on Board
BOD – Bunkers On Delivery
Boffers or BO – Best Offers.
Both to Blame Collision Clause – Charterparty clause which stipulates that, in the event of a collision between two ships where both are at fault, the owners of the cargo must indemnify the carrying ship against any amount paid by the carrying ship to the non-carrying ship for damage to that cargo. Break bulk – Cargo lifted on and off ships one piece or bundle at a time by means of cranes or derricks, as opposed to cargo shipped on trailers or in TEU/FEU containers.
BROB – Bunkers Remaining on Board
Broken stowage – Unused space in a ship/ hold due to the irregular cargo shape.
Brokerage – Fee payable by a shipowner to a shipbroker for success- ful negotiation of a charter normally expressed as a percentage of the freight or hire and demurrage.
BSS – Basis
BSS 1/1 – Basis 1 port to 1 port (no combination of ports)
BT – Berth Terms – Expression signifying that the contract of carriage is subject to the customs and conditions of the ports of loading and discharging.
BUNKERS – Fuel Oil and Diesel Oil for the ships’ engines
BWAD – Brackish Water Arrival Draft

C

C: Clean or Crane: Depending on the context it may mean “Clean” (e.g. Clean Products) or “Crane” (e.g. Ship’s Cranes).
C Am: Central America: The southernmost, isthmian portion of the North American continent, which connects with South America on the southeast. It consists of seven countries: Belize, Costa Rica, El Salvador, Guatemala, Nicaragua, Honduras and Panama.
CAF: Currency Adjustment Factor: Liner Freight is adjusted in accordance with the currency exchange fluctuations. When the liner cargo is payable in foreign currency and this currency is subject to major exchange rate fluctuations, the Liner Shipping Company some- times levies a Currency Surcharge (CAF) so as to compensate for those exchange rate risks. CAF is often charged on the basic Sea Freight as a percentage.

Calendar Day: A period of twenty-four (24) Consecutive Hours from 0000 Hours to 2400 Hours, with any part of a day counted pro rata (Laytime Definitions 2013, term 9). This new term encompasses a full 24-hour day.
Capacity Plan (CP): It is the plan of the ship, comprising the longitudinal and transverse profiles, diagrammes of ship’s loadlines, as well as key particulars of the ship (e.g. GRT, NRT, DWT capacity, etc.).
Capesize: A bulk carrier of over 100,000 dwt.
Car or Caribs: Caribbean Sea: It includes ports located in the Caribbean Sea (Cayman Islands, Haiti, Jamaica, Puerto Rico, Barbados, etc.).
Cargo Capacity (CC): The quantity of cargo a ship can carry or else the space that a ship has available for cargo loading. There are two ways of measuring the cargo capacity of a ship, the first measuring the weight in Deadweight Tonnes (Deadweight Capacity), the second measuring the volume, so the calculation is made either in cubic feet or cubic metres (Cubic Capacity). Measurement in deadweight may be either “Deadweight All Told (DWAT)” which includes the ship’s total deadweight in cargo, supplies, fuel, water, ballast, etc., or “Deadweight Cargo Capacity (DWCC)” which includes only the cargo Deadweight. The measurement of the capacity by volume is respectively performed in two ways depending on the nature of the cargo. Grain Capacity is used to measure the bulk tonnage and describes the available space of the ship’s holds for loading, including the Broken Stowage. Instead, the Bale Capacity is used to measure the capacity of the ship for transportation of general cargo and does not include the Broken Stowage. Bale Capacity is therefore always less than Grain Capacity.
Cargo Plan (CP) or Stowage Plan (SP): Ship’s plan of cargo stowage.
C.B. & H.: Continent Between Bordeaux and Hamburg: It includes ports or places in the European continent from Bordeaux in south to Hamburg in north.
CBL: Cable: Telex.
CBT: Clean Ballast Tanks: Specific cargo tanks dedicated to carry Ballast Water only.

CD or CQD: Customary Despatch or Customary Quick Despatch: The Charterer is obliged to load and/or unload the ship as fast as it is used and as fast as possible under the conditions prevailing at the time of loading or unloading at the port. It is an unclear term and usually aggravating for the Shipowner.
CFR or C&F: Cost and Freight: Incoterms rule, used only in sea transport. The Seller delivers the goods on board the ship or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the ship. The Seller must contract for and pay the Costs and Freight necessary to bring the goods to the named port of destination.
CFS: Container Freight Station: Base of containers in a part of a port terminal. It is a place for the administration of containers, including spaces where goods are to be stored and stacked to be loaded in the containers. It is usually under the management of Freight Forwarders (FF) (intermediaries) or container carriers.
C.H. & H.: Continent between Havre and Hamburg: European coastline from Havre in south to Hamburg in north.
CHABE: Charterers Agents Both Ends: Charterers nominate the Agents in both ports (loading/unloading). Opposite: OABE (Owners Agents Both Ends).
CHOP: Charterers’ Option: By Charterers’ decision.
CIF: Cost Insurance Freight: Incoterms rule, used only in sea transport. The Seller delivers the goods on board the ship or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the ship. The Seller must contract for and pay the Costs and Freight necessary to bring the goods to the named port of destination. The Seller also contracts for insurance cover against the Buyer’s risk of loss of or damage to the goods during the carriage. The Buyer should note that under CIF the Seller is required to obtain insurance only on minimum cover. Should the Buyer wish to have more insurance protection, it will need either to agree as much expressly with the Seller or to make its own extra insurance arrangements.
CIP: Carriage and Insurance Paid To: Incoterms rule, used in all modes of transport. The Seller delivers the goods to the carrier or another person nominated by the Seller at an agreed place (if any such place is agreed between parties) and the Seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination. The Seller also contracts for insurance cover against the Buyer’s risk of loss of or damage to the goods during the carriage. The Buyer should note that under CIP the Seller is required to obtain insurance only on minimum cover. Should the Buyer wish to have more insurance protection, it will need either to agree as much expressly with the seller or to make its own extra insurance arrangements.
CLD: Cleared: The ship has received certificate of Pratique at port of loading or unloading. Clearance is commonly referred to as Free Pratique.
Clear Day or Clear Days: They are net, continuous, calendar days that determine a period of time, e.g. a notice time. The word “Clear” states that the first and last day of the notice period shall not be included in the calculation. In other words, if one party gives a notice, the other party has at its disposal a number of “Clean” days to fulfil some obligation. For example, if the Charterer is given “10 Clear Days’ Notice of expected date of readiness at port of loading” so as to prepare the cargo delivery, the date of sending the notice and the date of delivery of the cargo would not count on calculating seven clear days.
CMI: Comité Maritime International: Non-governmental, not-for-profit international organisation established in Antwerp in 1897, the object of which is to contribute by all appropriate means and activities to the unification of maritime law in all its aspects. It issues important publications related to shipping and chartering.
CNR: Charterer Not Reported: The name of the Charterer has not been reported.
C/O: care of: Under care/responsibility of. It is used in business letters to denote that a letter or message is addressed to the person responsible for handling an issue.
COA: Contract of Affreigtment: Hybrid type of ship’s charter, combining elements of Spot Charter and Time Charter.
COB: Closing of Business: Fixing business or the end of working hours of a day.
COGSA: Carriage of Goods by Sea Act: National legislation aiming at the adoption and enforcement of international regulations for the transport of goods by sea under a Bill of Lading (B/L). For example, the “Carriage of Goods by Sea Act 1936” is the US enactment of the International Convention Regarding Bill of Lading (B/L), commonly known as the “Hague Rules”. The “Carriage of Goods by Sea Act 1971” is UK legislation incorporating the “Hague-Visby Rules” into English Law. The “Carriage of Goods By Sea Act 1992” is a UK statute that repeals and replaces the “Bills of Lading Act 1855”, making various provisions for the Bill of Lading (B/L) and other documents of carriage.
COMPL: Completing: Finishing.
CONBULK: Container/Bulk: A ship’s capacity to carry both containers and dry bulk cargoes.
CONS: Consumption: Ship’s Bunker (Fuel) consumption.
CONT: Container: A large metal box of a standard design and size used for the transport of goods by road, rail, sea, or air. The most important type of unitised cargo.
Continent: It includes ports or places in the European continent from Bordeaux in south to Hamburg in north, including both of them and Rouen.
Conventional Day (CD): A period of twenty-four (24) Consecutive Hours starting at any specified time, with any part of the day counted pro rata (Laytime Definitions 2013, term 10). This term accommodates 24-hour periods that may start at any time during a Calendar Day.
COP: Custom of the Port: The cargo to be loaded or unloaded according to the custom of the port. Therefore, no specific loading rate is stipulated in the Voyage Charter Party and the Shipowner might require a higher Freight Rate to get covered against potential delays of the ship.
COW: Crude Oil Washing: Technique of cleaning the cargo tanks of tankers. Cleaning is carried out by washing the walls of the tanks with the oil cargo itself during unloading.
C/P: Charter Party: It is the contract between the owner of a ship and the Charterer for the use of a ship. Charterer takes over the ship for either a certain amount of time (a period charter) or for a certain voyage (a voyage charter). The word “Charter Party” comes from the Latin expression “Charta Partita” or “Carta Partita”, meaning a legal paper or instrument, divided, i.e. written in duplicate so that each party retains half. It is the most crucial document in respect of chartering and shipbroking matters.
C.P.D.: Charterers Pay Dues: Charter Party term which specifies that Charterers will pay for all dues charged for the ship. Opposite term: “V.P.D.”.
CPP: Clean Petroleum Products: Liquid products refined from crude oil, whose colour is less than or equal to 2.5 on the US National Petroleum Association scale. Clean products include naphtha, jet fuel, gasoline and diesel/gasoil.
CPT: Carriage Paid To: Incoterms rule, similar to “CFR” but used in all modes of transport. The Seller delivers the goods to the carrier or another person nominated by the Seller at an agreed place (if any such place is agreed between parties) and the Seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination.
CR: Crane: A tall metal structure with a long horizontal part, used for lifting and moving cargoes and heavy objects.
CSRS: Col/Snake: Columbia/Snake River system: A container barging system facilitating the Pacific Northwest trade of USA with Asia and the rest of the world. Hub of the system is Oregon’s port of Portland. Col/Snake System is a vital transportation link as long as it connects ports located in Columbia and Snake Rivers with the Pacific Ocean. It forms a major commercial waterway of the Northwest coast, mostly in the trades of wheat, soybeans, wood, mineral bulks and automobiles.
CST: Centistokes: Measurement unit of the viscosity of ship’s bunkers (fuel). Viscosity depends on the density and clarity of bunkers.
CU.FT.: Cubic Foot: It is an imperial and US customary (non- metric) unit of volume, used in the US and the UK. It is defined as the volume of a cube with sides of 1 foot (0.3048 m.) in length. Its volume is 28.3168 litres or about 1/35 of a cubic metre. It is a measure of cargo volume. Gas cargoes are commonly expressed per cubic metres or cubic feet.
CU.M. or CBM: Cubic Metre: A volume that is made by a cube that is 1 metre on each side. Its symbol is m³. It is equal to 1,000 litres. It is a measure of cargo volume. Gas cargoes are commonly expressed per cubic metres or cubic feet.

CVS or C/Vs or Consecs: Consecutive Voyages: It refers to the performance of consecutive voyages from a port X to a port Y. The return from Y to X is usually made in Ballast.
CY: Container Yard: Containers’ base, located in a Container Terminal. It is typically under control and management of a Liner Operator.
Cancellation (of a Charter) – If the ship misses the cancelling date in the laycan period the charterer is entitled to cancel the charter. Cancelling Clause – Clause specifying the last date known, as the canceling date, on which a ship must be available to the charterer at the agreed place. If the ship arrives after the cancelling date, the charterer may have the option to cancel the contract.
Canceling Date – (see also Laycan or Cancelling clause) Last date, agreed in a voyage or time charterparty, by which a ship must be available to the charterer at the agreed place at the commencement of the contract. If the ship is not available by that date, the charterer may have the option to cancel the charter.
Canal Transit Dues – Charge levied for canal transit by a canal author- ity (e.g. Suez or Panama) usually based on ship’s tonnage.
Cargoworthiness – Fitness of a ship to carry a particular cargo.
Cargoworthy – Said of a ship, being fit to carry a particular cargo.
Carrier – Party who enters into a contract of carriage with a shipper. The carrier may be the owner or charterer of a ship.
CBM – Cubic Meter
CBFT – Cubic Feet
Cesser Clause – Clause in a voyage charter which relieves the char- terer of all responsibility under the contract once the cargo has been shipped. It also incorporates a provision for the shipowner to have a lien on the cargo for freight, deadfreight and demurrage.
CFR – Cost and Freight – Sales term denoting that the seller is responsi- ble for arranging and paying for the carriage of the goods to the agreed port of discharge. Risk ofloss and damage generally passes to the buyer when the goods pass ship’s rail at the port ofloading.
Charter in (to) – To hire a ship from a shipowner. Charter out (to) – To hire a ship out to a charterer ..
Charterer – Individual or company who hires a ship from a shipowner for a period of time (see Time charterer) or who reserves the entire cargo space of a ship for the carriage of goods from a port or ports of loading to a port or ports of discharge (see Voyage charterer).
Charter – The chartering or hiring of a ship.
Charterer’s Market – Weak market, with comparatively low freight rates.
Charterer’s Agent – Ship’s agent nominated by the voyage charterer.
Chartering Agent – Shipbroker that acts on behalf of a charterer in the negotiations leading to the chartering of a ship.
Charterparty or Charter Party (CP) – A contractual agreement between a shipowner and a charterer stipulating all the terms and conditions for the hire of a ship or the space in a ship.
Charterparty Bill of Lading – Bill of Lading issued for a shipment of cargo on a chartered ship when it is intended that the receiver be bound by the terms and conditions of the charterparty.
Chopt – in Charterers’ Option – Term in a Charter-Party which stipulates that the charterers have a choice in specific circumstances like for example nomination of a discharge port.
CIF – Cost Insurance and Freight – Sales term denoting that the seller is responsible for arranging and paying for the carriage of the goods to the agreed port of discharge and for the insurance of the goods covering the period of carriage involved in the contract of sale. The risk of loss or damage passes to the buyer when the goods pass ship’s rail at the port of loading.
CIP – Freight or Carriage and Insurance Paid to – This term is the same as CPT but with the addition that the seller has to procure trans- port insurance against the risk of loss or damage to the goods during carriage. The seller contracts with the insurer and pays the insurance premium.
Clause Paramount – Clause which stipulates the rules governing the contract of carriage.
Claused Bill of Lading – Bill of Lading containing one, or more, superimposed clause which may either specify a defect to the cargo or its packing or any comment of the master regarding the carriage of the goods. Renders the B/L non-negotiable.
Clean Bill of Lading – Bill of Lading which contains no superimposed clause specifying any defect to the cargo or its packing; it indicates that the cargo has been shipped in apparent good order and condition. May be used by banks as collateral security against money advanced for the purchase of the goods described therein.
Clear Days – Used with a number to denote the period of time exclud- ing the first and the last days, for example ten clear days.
COA – Contract of Affreightment – A contract of affreightment is a contract between a shipowner and a charterer, in which the ship-owner agrees to carry a large volume of cargo over a specified relatively long period of time on a series of voyages using any ship in his fleet and remunerated by freight payments.
COB – Closing of Business
COD – Cash On Delivery
COGSA – Carriage of Goods by Sea Act – English statutory law of the rights and responsibilities between shippers and shipowners regarding ocean shipments.
Combined Transport Bill of Lading – Document evidencing a con- tract between shipper and a shipping line for carriage of goods on a voyage involving at least two legs, the issuer being responsible for the goods from the time they are received into his care until the time they are delivered at destination.
Competitive Broker – An independent broker that brings together an owner’s confidential broker with the broker of a suitable charterer.
Conbill– Bill of Lading by BIMCO used when no charterparty is Signed.
Constant – Refers to those items of a more or less permanent nature, such as crew and effects, stores, spare parts in excess of rule requirement which have not been included in the lightweight and therefore must be deduced from the deadweight when determining the dead- weight available for cargo.
Congenbill – Bill of Lading intended to be used with Gencon charter parties.
Conlinebill – Liner Bill of Lading published by the BIMCO. Consecutive Voyages – Often abbreviated to con sec. It refers to successive voyages of a chartered ship. The number of voyages or the total quantity of cargo to be carried or the total period during which the shipowner performs the maximum number of voyages must be stipulated in the contract.
Consignee – Person to whom goods are to be delivered by the carrier at the destination.
CONS – Consumption
COP – Custom of the Port – Established practice at a port, which be- comes part of a contract of carriage unless otherwise provided for in the contract. An example is the daily rate of loading and discharging.
Counter-offer or Counter – Offer and counteroffer form the basis of chartering negotiations. A counter offer is a response to an offer which varies the terms or conditions of that offer and hence cancels the provisions of an offer.
CPD – Charterers Pay Dues
CPT – Freight or Carriage Paid to – The seller pays the freight for the carriage of the goods to the named destination. The risk of loss and damage to the goods, as well as of any cost increases, is transferred from the seller to the buyer when the goods have been delivered into the custody of the first carrier and not at the ship’s rail. It can be used for all transport modes and multi modal operations.
CQD – Customary Quick Dispatch – A laytime related term denoting that the charterer must load and/or discharge as fast as is reasonably possible in the circumstances prevailing. There is no provision for demurrage or dispatch.
CR – Current Rate
CROB – Cargo Remaining on Board
CRN – Crane
Cst. – Centistokes – Measure of the viscosity of oils. The greater the number of centistokes, the higher the viscosity of a grade of oil
CVB – Constanta/Varna/Burgas
CVE or C/V/E – Communication / Victuals / Entertainment
CVE or C/V/E PMPR – Communication / Victuals / Entertainment Per Month Pro Rota

D

D: Dirty or Derrick: Depending on the context it may mean “Dirty” (e.g. Dirty Products) or “Derrick” (e.g. Ship’s Derricks: lifting gear).
DAF: Delivered At Frontier: Incoterms rule eliminated from the versions.
DANRVAOCLONL: Discountless And Not Returnable, Vessel And/ Or Cargo Lost Or Not Lost: Voyage Charter Party term used in cases of Freight Prepaid or Advance Freight. It indicates that the agreed Freight Prepaid will not be reduced or refunded under any circumstances, even if the ship or cargo is lost. This applies as long as the Shipowner is consistent with its contractual obligations.
DAP: Days All Purposes: Often synonymous with “Reversible Laytime,” or may be phrased as “time allowed for loading and discharging X days altogether.”
DAP: Delivered At Place: Incoterms rule which together with “DAT” replaced the Incoterms rule “DAF”, “DES”, “DEQ” and “DDU”. It is used in all modes of transport. The Seller delivers when the goods are placed at the disposal of the Buyer on the arriving means of transport ready for unloading at the named place of destination. The Seller bears all risks involved in bringing the goods to the named place.
DAT: Delivered At Terminal: Incoterms rule which together with “DAP” replaced the Incoterms rule “DAF”, “DES”, “DEQ” and “DDU”. It is used in all modes of transport. The Seller delivers when the goods, once unloaded from the arriving means of transport, are placed at the disposal of the Buyer at a named terminal at the named port or place of destination. Terminal includes a place, whether covered or not, such as a quay, warehouse, container yard or road, rail or air cargo terminal. The Seller bears all risks involved in bringing the goods to and unloading them at the terminal at the named port or place of destination.
Day: Defined as a period of twenty-four (24) Consecutive Hours. Any part of a day is counted Pro Rata (Laytime Definitions 2013, term 8). Officially, a Day is now understood as 24 Consecutive Hours, differing from a Calendar Day and a Conventional Day. This definition is favorable from the Shipowners’ perspective as it includes Sundays and Holidays (SHINC) in the Laytime.
DBEATS: Despatch payable at Both Ends on All Time Saved: Synonym to “ATSBENDS”.

DBELTS: Despatch payable at Both Ends on Laytime Saved: Synonym to “AWTSBENDS”.

DDO: Despatch Discharge Only: It is agreed that Despatch amount is to be paid only at the discharging port, if indeed unloading is finished earlier than the Allowed Time (Laytime).
DDP: Delivered Duty Paid: Incoterms rule used in all modes of transport. Seller is responsible for delivering the goods to the named place in the country of the Buyer, and pays all costs in bringing the goods to the destination including import duties and taxes. The Seller is not responsible for unloading. This term is often used in place of the non-Incoterms rule “Free In Store (FIS)”. This term places the maximum obligations on the seller and minimum obligations on the Buyer. All the risks and responsibilities are not transferred to the Buyer upon delivery of the goods at the named place of destination.
DDU: Delivered Duty Unpaid: Incoterms rule eliminated from the version of 2010.
Deadfreight (DF): The so-called Deadfreight (DF) is payable by the Charterers to the Shipowners for the part of the cargo which, while it had been agreed in the Charter Party to be loaded and transported to the destination, it was not actually loaded on the ship due to a cause attributed to the Charterers or Shippers. However, the Deadfreight (DF) is not only a compensation paid to the Shipowner if the Shipper loads a smaller amount than the agreed in the Charter Party, but also in case that the nature of the loaded cargo prevents the use of the full carrying capacity of the ship. The second case is related to the term Broken Stowage.
DELY and REDELY: Delivery and Redelivery: Ship’s delivery and redelivery at a Time Charter.
Demurrage: The Demurrage Rate (DR) is the agreed-upon compensation owed to Shipowners when loading and/or discharging exceeds the permitted time. The Demurrage Rate (DR) is typically set as a specific amount per 24 hours or calculated pro rata. Since Demurrage represents a form of Liquidated Damages (LD) pre-agreed between Shipowners and Charterers, Shipowners are not required to prove their actual loss. Even if Shipowners can demonstrate that their loss exceeds the Demurrage compensation, they are still only entitled to the agreed Demurrage Rate (DR). Conversely, if the actual loss is less, Shipowners still receive full Demurrage.
DEQ: Delivered Ex Quay: Incoterms rule eliminated from the version of 2010.
DER: Derricks: A cargo ship can have its own handling equipment (gearing). Ship’s cranes are called “Derricks”.
DES: Delivered Ex Ship: Incoterms rule eliminated from the version of 2010.
Despatch or Dispatch or Despatch Money: when a ship completes cargo operations within the allowed Laytime, the Charterer becomes entitled to receive Despatch Money (DM) (Dispatch Money), which is generally calculated as Half the Daily Rate of Demurrage (DHD: Despatch Half Demurrage).
Despatch on All Time Saved (ATS): means that “Despatch Money (DM) shall be payable for the time from the completion of loading or discharging to the end of Laytime, including any periods that would otherwise be excepted from Laytime” (Laytime Definitions 2013, term 33)..
Despatch on All Working Time Saved (WTS) or on All Laytime Saved: Despatch On All “Working Time Saved” (WTS) or “On All Laytime Saved” means that “Despatch Money (DM) shall be payable for the period between the completion of loading or discharging and the end of Laytime, excluding any periods that are excepted from Laytime” (Laytime Definitions 2013, term 32).
DFD: Demurrage/Free Despatch: Shipowner is entitled to “Demurrage” (if it arises), but the Charterer does not have the right to receive “Despatch” (if it arises).
DHD: Demurrage/Half Despatch: The daily rate of “Despatch” will be half of the agreed daily rate of “Demurrage”.
Disbursements: Term describing all payments made in ports by the ship agents on behalf of the Shipowners. Such payments usually concern port charges, stevedore expenses, towing costs, custom expenses, supplies and spares, bunker (fuel) costs, water supplies, etc. Ship Agents charge commission on the “Disbursements”, which typically is set at 2.5% of total expenses paid by the Ship Agent.

Disponent Owner: The Charterer at a Bareboat Charter may be called “Disponent Owner”, because on the one hand the ship comes at his disposal and secondly because he acquires operational control and commercial management of the ship as if he was the Shipowner.
DISPORT: Discharging Port: The unloading port in a Voyage Charter
Distance Freight: In a Voyage Charter, if the cargo needs to be discharged at a port other than the port of destination indicated in the Charter Party and the extra distance brings about additional risk or cost, then the Shipowner may require extra Freight called “Distance Freight”.
Ditto: It is used to indicate that an item is repeated, often expressed with the ditto mark (″) under the word or figure to be repeated.

DLO: Despatch Loading Only: It is agreed that Despatch amount is to be paid only at the Loading Port, if indeed loading is finished earlier than the Allowed Time (Laytime).
DLOSP: Dropping Last Outward Sea Pilot: Term similar to “DOP”. Here it is stressed that the place of redelivery of the ship in a Time Charter shall be the point of disembarkation of the last pilot.
DΝV: Det Norske Veritas: Norwegian Classification Society.
DOP: Dropping Outward Pilot: Time Charter term for the redelivery of the ship to the Shipowner. It refers to a location, usually outside the port limits, where it is customary to disembark the pilot. At this geographical point of the port and consequently at this point of time the ship is considered as redelivered from the Charterer to the Shipowner.
DPP: Dirty Petroleum Products: Liquid products refined from crude oil, whose colour is greater than 2.5 on the US National Petroleum Association scale. Dirty products usually require heating during a voyage, because their viscosity or waxiness makes discharge difficult at ambient temperatures.
Draught or Draft: The distance from the sea surface to the lowest sunken point of the ship.
DRI/DRIP: Direct Reduced Iron Ore/Direct Reduced Iron Ore Pellets: Type of iron ore cargo.

DTD: Dated: Marked with a date or old (outdated).
Dunnage: The fixation/stabilisation of general cargo parts (cartons, packages, boxes, etc.) into the holds of the ship, by using wooden sections or other items in order to avoid cargo movement and protect the floor of the ship’s hull.
DWAT: Dead Weight All Told: The Total Deadweight of the ship. It is the total weight that a ship can carry when sinking up to its Load-line (Plimsoll Line). “DWAT” includes cargo, food, bunker (fuel), water, supplies, crew, spare parts, luggage, ballast etc. Alternatively, it is defined as the difference between the loaded displacement and the Light Displacement (LDT) of the ship.
DWCC: Dead Weight Cargo Capacity: The Deadweight of the ship concerning only the cargo it can carry. The quantities of bunker (fuel), water, supplies, etc. are not included. Synonym: “Net Capacity”.
DWCT: Dead Weight Cargo Tonnage: Synonym to “DWCC”.
DWT: Dead Weight Tonnes or Tonnage: Major measurement of ship’s carrying capacity in weight terms.
DAPS – Days all Purposes (Total days for loading & discharging)
D/A – Disbursements Account – Account for the sums paid out by a ship’s agent and owed by the shipowner for sums paid out in respect of the ship’s call at the port such as pilotage, towage, any cash advance to the master, supply of provisions and stores and the agency fee.
Damage for Detention – Sum of money payable to the shipowner by the voyage charterer for failing to load and/or discharge cargo within the time allowed if the charterparty has no provision for demurrage.
DDU – Delivered Duty Unpaid
DDP – Delivered Duty Paid
DDQ – Due Diligence Questionnaire
Deadfreight – Amount of money payable by a shipper or charterer to a shipowner for failing to load the quantity of cargo stipulated in the contract of carriage. It is normally payable at the full freight rate but may be reduced by the loading and/or discharging expenses if these were included in the freight.
Deadweight – DWT – A measure of how much weight a ship can safely carry. It is the sum of the weights of cargo, fuel, fresh water, ballast water, provisions, passengers, and crew to the point that its Plimsoll-line is at the point of submersion.
DET – Detention
Dely – Delivery (of a ship) – Placing of a time chartered ship by the shipowner at the disposal of the charterer at the beginning of the period of the charter, at the time and place agreed.
Dem – Demurrage – Amount of money paid (per day) to the shipowner by the charterer, shipper or receiver, as the case may be, for failing to complete loading and/or discharging within the time allowed in the Charter-Party. Once a ship is on demurrage, no deductions are made for the excepted periods, such as weekends, in the calculation of the demurrage charges; hence it is said that “once on demurrage, always on demurrage.”
Deck Cargo – Cargo carried on, and secured to, the open deck of a ship.
Demise Charter – See bareboat charter.
DEQ – Delivered Ex Quay – This mean that the seller makes the goods available to the buyer on the quay at the destination named in the sales contract.DESP – Despatch or Despatch Money – Amount of money the rate of which is agreed in advance, payable by the shipowner to the charterer, shipper or receiver, as the case may be, for loading and/or discharging in less than the time allowed. If a relevant provision is made the rate is usually half the demurrage rate.
DES – Delivery Ex Ship – This mean that the seller shall make the goods available to the buyer on board the ship at the destination named in the sales contact. The seller has to bear the full cost and risk involved in bringing the goods there.
Deviation Clause – Clause allowing the shipowner to deviate from the agreed route to call at unscheduled ports for whatever reason, or to deviate to save life or property.
DHD – Demurrage Half Despatch – This term, used in voyage charter negotiations, signifies that despatch money is to be paid at half the daily rate of demurrage.
DHDATSBE – Despatch Half Demurrage on Actual Time Saved Both Ends
DHDWTSBE – Despatch Half Demurrage on Working Time Saved Both Ends
DISCH – Discharge
Dirty Bill of Lading – Bill of Lading containing one, or more than one superimposed clause specifying a defect to the cargo or packing, noted at the time the goods are received by the ship.
Disbursements – Sums payable by shipowners and paid out by a ship’s agent on their behalf at a port. They include port charges, pilotage, tow- age and the agent’s fee.
Disponent Owner – For instance a bareboat charterer who controls the commercial operation of a ship.
DLOSP – Dropping Last Outwards Sea Pilot
DNRSAOCLONL – Discountless and Non-Returnable Ship and/or Cargo Lost or Not Lost
DO – Diesel Oil
Dock Dues – Charge levied against a shipowner or ship operator by a port authority for the use of a dock.
DOP – Dropping Outward Pilot – Provision in a time charter to determine the time and place of redelivery of a ship to the owner by the charterer. The hire ceases at the moment the pilot disembarks.
DOLSP – Dropping Off Last Sea Pilot
DRAFT – Depth to which a ship is immersed in water. Depends on ship design and water density.
DRK – Derrick – A machine for hoisting and moving heavy objects
Dry Weight – Actual weight of a bulk cargo less an allowance for moisture content.
DTM – Delivery to Make. DTM Singapore, DTM Orinoco River, DTM ARAG
DUNNAGE – Materials of various types, often timber or matting, placed among the cargo for separation, for protection and ventilation
DWAT – Deadweight All Told – Deadweight
DWCC – Deadweight Cargo Capacity or Deadweight Carrying Capacity – Weight of cargo, which a ship is able to carry when immersed to the appropriate load line, expressed in tons.

E

E Af: East Africa (EAFR): The eastern region of the African continent, variably defined by geography or geopolitics.
East Coast Africa (ECA): It includes the region of the East Coast of Africa from Cape Guardafui in the north to Maputo in the south.
East Coast India (ECI): It includes the East Coast of India from Calcutta to Cape Comorin. It excludes Sri Lanka.
East Med.: East Mediterranean (EMED): It includes ports located in the East Mediterranean Sea. To the west, the notional line is from Cape Passero in Sicily to Misurata in Libya, while in the east the boundary is the Dardanelles. The Adriatic Sea and the Aegean Sea are thus included.
EC: East Coast: General geographical description.
ECCA: East Coast Central America: It includes ports in the countries Belize, Guatemala, Honduras, Nicaragua, Costa Rica, Panama, which are located at the eastern coast of Central America, bordering the Caribbean Sea. Panama Canal is included.
ECCAN: East Coast Canada: Ports or places in the East Coast of Canada.

ECCP: East Coast Coal Port: Term denoting that the loading of coal will take place in one of the ports of eastern England.
ECI: East Coast of Ireland: Ports or places in this area.
ECNA: East Coast North America: US and Canada land that runs along the Atlantic Ocean.
ECSA: East Coast South America: It includes ports or places at the East Coast of South America, from Georgetown in the north to Punta Dungeness in the south.
ECUK: East Coast United Kingdom: Ports or places of England and Scotland in the eastern coast of UK.
ECUS: East Coast United States of America: It describes ports or places in this area.

EIU: Even If Used: The time spent on loading and unloading of the ship in excepted periods (e.g. Sundays or public holidays) shall not count as Laytime, even if used.
E&OE: Errors and Omissions Excepted: Excluding misstatement. Term used in bills and invoices to indicate that the person or company that prepares the account is ready to correct errors and/or omissions that may occur in this.
ETA: Expected or Estimated Time of Arrival: It concerns the time that the ship is estimated to arrive at a port/berth.
ETΒ: Expected or Estimated Time of Berthing: It concerns the time that the ship is estimated to berth.
ETC: Expected or Estimated Time of Commencement/Completion: It concerns the time that the ship is estimated to commence or complete loading or unloading
ETD: Expected or Estimated Time of Departure: It concerns the time that the ship is estimated to depart from a port/berth.
ETS: Expected or Estimated Time of Sailing: It concerns the time that the ship is estimated to sail from a port.
Eur: Europe: The continent which comprises the western- most part of Eurasia. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west and the Mediterranean Sea to the south. To the east and southeast, it is separated from Asia by Ural and Caucasus mountains, the Ural River, the Caspian and the Black Sea and the Bosphorus straits.
Euromed: Mediterranean Europe: European countries bordering the Mediterranean Sea.
Excepted or Excluded: Excepted or Excluded indicates that “the days specified do not count as Laytime even if loading or discharging takes place on those days” (Laytime Definitions 2013, term 19)
EXW: Ex Works: Incoterms rule used in all modes of transport. The Seller makes the goods available at his premises. This term places the maximum obligation on the Buyer and minimum obligations on the Seller. It is often used when making an initial quotation for the sale of goods without any costs included. EXW means that a Buyer incurs the risks for bringing the goods to their final destination. Either the Seller does not load the goods on collecting vehicles and does not clear them for export, or if the Seller does load the goods, he does so at Buyer’s risk and cost.
ES – Economic Speed – This is the speed of a vessel producing optimum financial results for the owners, giving proper consideration to the price of bunkers en-route, fuel consumption, the net freight per ton of cargo and operating profit per day.
EEDI – Energy Efficiency Design Index
EEXI – Energy Efficiency Existing Ship Index (EEXI) is a metric introduced by the International Maritime Organization (IMO) to reduce greenhouse gas emissions from ships. The EEXI pertains to the technical design of a vessel. Ships are required to obtain EEXI approval once in their lifetime.
EIU – Even if Used – Term used in a voyage charterparty which provides that time used to load or discharge, as the case may be, during excepted periods is not deducted from the time allowed even if used.
ETA – Estimated Time of Arrival.
ETC – Estimated Time of Completion.
ETD – Estimated Time of Departure.
ETR – Estimated Time of Readiness.
ETS – Estimated Time of Sailing.
EXW – Ex Works – Sales term denoting that the seller is responsible for making the goods available at his works or factory. The buyer assumes the cost of loading the goods onto the vehicle(s) and delivering them to the destination and the risk of loss and damage.
Excepted Period – Period during which any time used to load or discharge does not count for the purpose of calculating demurrage or despatch, other than by prior agreement (see Unless used). Such periods may include weekends; public holidays and time used shifting from anchorage to berth. Once laytime has expired, time counts during excepted periods in the calculation of demurrage.
Exceptions Clause – Clause that exonerates the ship from responsibility for damage to cargo from certain named causes such as an act of God or negligence of the master.
Expiry of Lay time – Moment when the time allowed in the charter-party for loading and/ or discharging, as the case may be, has been used up.
Extension of a Charter – Prolonging of the period during which a ship is on time charter, very often on the same terms but possibly at a different rate of hire.
Extension to the Canceling Date – Agreement by the charterer to a later date than that agreed in the charterparty by which a ship must tender notice of readiness to the charterer that she has arrived and is ready to load. If not accepted, the charterer may have the option to cancel the charter.

F

FA or FAS or FAQ: Free Alongside or Free Alongside Ship or Free Alongside Quay: Incoterms rule used in sea transport. “Free Alongside Ship” means that the Seller delivers when the goods are placed alongside the ship (e.g. on a quay or a barge) nominated by the Buyer at the named port of shipment. The risk of loss of or damage to the goods passes when the goods are alongside the ship, and the Buyer bears all costs from that moment onwards.
FAC: Fast As Can or As Fast As the Vessel Can Receive/Deliver: Laytime will be calculated in accordance with the maximum loading rate that can be achieved by the ship. In other words, it is the duty of the Charterer to load or unload the ship at the maximum speed without undue delays.
FC: Fully Containerised: It refers to cargo carried only in containers or a trade carried out only by fully cellular containerships.
FCA: Free Carrier: Incoterms rule used in all modes of transport. The Seller delivers the goods to the Carrier or another person nominated by the Buyer at the Seller’s premises or another named place. The parties are well advised to specify as clearly as possible the point within the named place of delivery, as the risk passes to the Buyer at that point.
FCC: Fully Cellular Containership: A ship with cell guides (specific positions) for the placement of containers in the holds. It is a ship which carries exclusively containers.
FCL: Full Container Load: This expression describes the cargo shipment by a shipper, which occupies the entire space of a container. It is an opposite term to LCL (Less-Than Container Load) which concerns different cargo shipments from different shippers, which are transported to a common destination within the same container. The Freight for an FCL cargo is generally lower than the Freight for an LCL cargo.
FD: Free of Despatch: No Despatch amount is to be paid even if cargo-handling operations are finished earlier than the Allowed Time (Laytime).
FE: Far East: It includes all the Far East ports which are on the coast, from Burma to southwest to Vostochny in the northeast. Also included are all maritime areas of Singapore, Japan, Philippines, Taiwan, Malaysia, Brunei, Indonesia and Papua New Guinea.
FEU: Forty-foot Equivalent Unit: The 40-foot container or its equivalent.
FFA: Forward Freight Agreement: A forward contract of charter. It is a typical financial product of the shipping derivatives market. It allows Shipowners, Charterers and speculators to hedge or speculate against the volatility of Freight Rates. The underlying object may be a Freight Index or the Freight of a single shipping route or the average Freight/Hire of a basket of routes/charters. FFAs are traded over the counter (OTC) on a principal-to-principal basis and can be cleared through a clearing house.
FHEX: Fridays Holidays Excluded: Fridays and Holidays do not count as Laytime.
FHINC: Fridays Holidays Included: Fridays and Holidays are included in the Laytime.
FI: Free In: Voyage Charter term. All cargo loading expenses are borne by the Charterer. Shipowner shall not bear the cost of cargo loading.
FILO: Free In Liner Out: Voyage Charter term. Cargo loading expenses are borne by the Charterer, whilst the Shipowner shall bear the cost of cargo discharging.
FILTD: Free In / Liner Terms Discharge: Voyage Charter term, synonym to “FILO”.
FIO: Free In and Out: Voyage Charter term. All costs of cargo handling (loading and unloading) are carried by the Charterer. The ship and the Shipowner are not obliged to pay such costs.
FIOS: Free In, Out and Stowed: Voyage Charter term. All costs of cargo loading, unloading and stowage are not carried by the Shipowner. Term used mostly in general cargoes.
FIOSPT: Free, In, Out and Spout-Trimmed: Voyage Charter term. FIOSPT term is typically used in the transport of dry bulk cargoes (e.g. bulk grain) which are handled through special pumps. It indicates that the costs of cargo handling (loading/unloading) and arrangement of cargo in holds through these pumps will not be charged to the Shipowner.
FIOST: Free, In, Out, Stowed and Trimmed: Voyage Charter term. Some cargoes, usually in dry bulk form, need stowage and trimming through the holds. Under FIOST term it is agreed that the costs of loading, unloading, stowage and trimming of the cargo will not be borne by the Shipowner.
FIOT: Free, In, Out and Trimmed: Voyage Charter term. All costs of cargo loading, unloading and trimming are not carried by the Shipowner. Term used mostly in dry bulk cargoes.
Firm for Reply or Firm for Immediate Reply: Terminology used mainly by Shipbrokers of the negotiating parties in the beginning of a charter negotiation. It is commonly used to present an offer (for cargo or ship) and examine the possibility of closing a chartering business.
Firm Offer: Commonly used by the Shipowner’s Shipbroker during a charter negotiation to indicate that the Shipowner is committed to pro- vide his ship for a future charter business. If the Charterer is interested for the ship, he may make a “Counter-offer”, thus commencing the Charter Party negotiations.
Firm Order: Phrase used by Charterers to denote the existence of a cargo to be transported and their interest to charter a ship, either for a Voyage Charter or a Time Charter.
Fixture: “Closing” or “Fixing” of a chartering business. It means that the charter negotiations between the involved parties (Shipowners and Charterers) have been completed and the agreement has come.

Flat Rate: It is a fixed Freight Rate agreed to be paid by the Charterer to the Carrier regardless of fluctuations that may occur in the Freight Market during a charter. It appears mainly in cases where the shipment includes various types of cargo, the nature of which is not known at the closing of the charter or in cases where there are many loading and discharging ports in the charter. Generally, an advantage for the Consignee is that the final price of the product can easily be estimated. Also, the term “Flat Rate” describes the reference Freight Rates of the Worldscale (WS), namely the basis for calculating and negotiating Spot Freight Rates in the Tanker Market.
FO: Free Out: Voyage Charter term. The cargo discharging costs are not included in the Freight Rate (i.e. not borne by the Shipowner), but are payable separately by the Charterer or the Shipper or the Bill of Lading Holder (Receiver or Recipient or Consignee) depending on the agreement.
FOB: Free On Board: Incoterms rule used in sea transport. The Seller delivers the goods on board the ship nominated by the Buyer at the named port of shipment or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the ship, and the Buyer bears all costs from that moment onwards.
FOLL: Following, Follows: Consequent, next.
FONASBA: Federation of National Associations of Shipbrokers and Agents: Organisation founded in 1969 consisting of national associations of shipbrokers and agents. The organisation’s work focuses on Agency and Shipbroking matters.
FOQ or FOW: Free On Quay or Free On Wharf: Similar to “Free Alongside Ship” (FAS).

Force Majeure: Unforeseen situations and events beyond the reasonable control of the involved parties in a contract.
FOW: First Open Water: If works at a port have stopped due to ice, this term indicates that the earliest possible resumption of the ship’s procedures should be achieved, once the port is reopened from the ice.
FP: Free of Pratique: The ship has been tested successfully by the health authorities of the port and received authorisation to proceed in cargo operations.
FPA: Free of Particular Average: The ship is not insured against a Partial Loss.
FPSO: Floating Production Storage Offloading: Type of an offshore ship.
FPT: Fore Peak Tank: Fresh Water (FW) or Ballast Water Tank located in the forward (fore) of the ship. It is considered important to the stability and seaworthiness of the ship and for arranging the cargo on board.

FRT: Freight: The amount paid by the Charterer to the Shipowner as compensation for the cargo carriage in a Voyage Charter. It is typically payable before the cargo is unloaded in the discharging port.
FRT P.P.: Freight Prepaid: The Freight is payable in Advance, before it is loaded on board.
Fumigation: The act of disinfecting the cabins and compartments of a ship. Essential precaution taken by Shipowners to protect their ships and ensure the health of persons living on board.
FWA: Fresh Water Allowance: The induced change in the ship’s draught (draft) when it is moved from Sea Water having a higher density (1,025 kg/cbm) to the Fresh Water which has a lower density (1,000 kg/cbm). In other words, it is the additional draught permitted for the ship under international loading rules, when the ship is loading in Fresh Water conditions.
FWAD: Fresh Water Arrival Draught: The maximum draught (draft) of a ship on arrival at a port with Fresh Water. See also “BWAD” and “SWAD”.
FAS – Free Alongside Ship. Seller delivers goods to appropriate dock or terminal at port of embarkation and buyer covers costs and risks of loading.
FAC – Fast as Can – The shipper must supply the cargo as fast as the ship can load or that the receiver must take delivery as fast as the ship can discharge.
FACCOP – Fast as Can Custom of the Port
FAK – Freight All Kinds – Single freight rate which is charged irrespective of the commodity.
FIC – Full and Complete Cargo – Concerns a full cargo, which will either bring the vessel down to her maximum permissible draft or fill the vessel by volume.
FCC – First Class Charterers – denotes a reputable chartering company
FCL – Full Container Load – Quantity of cargo, which fills a shipping container to capacity, either by weight or cubic measurement.
FD – Free Despatch – Term in a voyage charterparty that despatch money is not payable when cargo operations have been completed ear- lier than the time allowed.
FDD – Freight Demurrage Deadfreight
FDEDANRSAOCLONL – Freight Deemed Earned Discountless and Non-Refundable Ship and/or Cargo Lost Or Not Lost
FDIS – Free Discharge
FEU – Forty Foot Equivalent Unit – Unit of measurement equivalent to one 40-foot container.
FHEX – Fridays and Holidays Excepted – Fridays and holidays do not count in the calculation of laytime (applies to those countries where Friday is the Sabbath).
FHINC – Fridays, Holidays Included (Muslim Countries)
FI – Free In – Free of expense to the shipowner of cargo handling at the loading port.
FIO – Free In and Out – Term qualifying a freight rate which signifies that it excludes the cost of loading and discharging and if appropriate to the type of cargo, stowing, dunnaging, lashing and securing or trimming’ all of which are paid by the charterer.
FILO – Free In/Liner Out. Term whereby the shipper pays load costs and the carrier pays for discharge costs.
FIOS – Free In and Out and Stowed – Loading, unloading and stowage cost is not for the account of the shipowner (free) but payable by the charterer or the shipper.
FIOSLSD – Free In/Out Stowed, Lashed, Secured and Dunnaged for charterers account.
FIOST – Free In/Out Stowed and Trimmed. Charterer pays for cost of loading/discharging cargo, including stowage and trimming.
FIOT – Free In and Out and Trimmed – Charterer pays for cost of loading/discharging cargo, including trimming.
First Class Ship – Ship to which the highest class has been given by a classification society in accordance with its rules concerning construction and maintenance.
FIT – Free In Trimmed
FIW – Free In Wagon
FIXING – Chartering a Vessel
Fix (to) – The agreement to charter a ship following completion of the negotiations.
Fix Best Possible – The broker is given leeway to negotiate the charterparty if terms of original instructions cannot be met in the market.
Fixed on Subjects – All the terms and conditions of chartering have been agreed except for a few, normally minor, details.
Fixed Operating Expense – The daily or monthly costs of operating a vessel, which may include amortization and interest, but does not include fuel or any other variable costs.
Fixture – Successful conclusion of the negotiations between shipowner and charterer, generally through shipbrokers, resulting in the charter of a ship.
FO (IFO) – Fuel Oil/Intermediate FO
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
FOC – Free Of Commission. Charterparty under which no Address Commission needs to be paid to the Shipbroker.
FOFFER (Firm Offer) – An unconditional offer that is binding on the party making it, provided that it is accepted in full and within any time limit set.
FOQ – Free On Quay
FORCE MAJEURE – Clause limiting responsibilities of the charterers, shippers and receivers due to events beyond their control.
FO – Free Out – Qualification to a freight rate denoting that the cost of discharging of the cargo from the ship’s hold is not included in the freight but is payable by the charterer.
FOB – Free on Board – Sales term denoting that the seller is responsible for delivering the goods to the port of loading agreed in the contract and for loading them on to the ship nominated by the buyer. The risk of loss or damage to the goods generally passes from the seller to the buyer when the goods pass ship’s rail at the port of loading.
FOG – For Our Guidance
FOR – Free On Rail
Forwarding Agent or Forwarder – Person or company who arranges the carriage of goods on behalf of a shipper.
FOQ– Free On Quay
FOT – Free On Truck
FOW -Free On Wharf
Free Time – Period between the time a ship is ready to load or discharge, having given notice of readiness, and the time that lay time commences in accordance with the charterparty, during which the charterer is not obliged to load or discharge. The charter party must make provision as to whether lay time shall count during this period.
Freight Collect – Freight payable at destination, also referred to as freight forward.
Freight Payable at Destination – Method of paying the freight often used for shipments of bulk cargoes whose weight is established on dis- charge from the ship.
Freight Prepaid – Freight which is payable before the contract has been performed.
Freight Rate – Amount of money paid to a shipowner or shipping line for the carriage of each unit of cargo.
Freight Tariff – Schedule, published by a liner conference or shipping line, containing freight rates for a variety of commodities likely to he carried by the lines.
Freight Ton – Unit of cargo on which a freight rate is based, generally one ton or one cubic meter whichever is greater. Also called revenue ton.
FRT – Freight – Amount of money paid by a shipowner or shipping line for the carriage of cargo usually referring to a voyage charter.
Full Liner Terms – FLT – Shipowner pays to load and discharge the cargo
FWAD – Fresh Water Arrival Draft
FWDD – Fresh Water Departure Draft
FYG – For Your Guidance

G

G/A: General Average: General Average (GA) is a principle in maritime law where, in the event of a voluntary and necessary sacrifice of part of the ship or cargo (or incurring of extraordinary expenses) to safeguard the remaining property during a perilous situation, all parties involved in the voyage contribute to the losses in proportion to their interests. In simpler terms, if a ship encounters a dangerous situation at sea and it becomes necessary to jettison (throw overboard) part of the cargo to save the ship and the rest of its cargo, then the loss of that jettisoned cargo is shared among all the cargo owners and the shipowner. The rationale behind the principle is that all interests (ship, cargo, and freight) benefit from the sacrifices or expenditures made, and thus they should all contribute to the loss or expense.
GBFS: Granulated Blast Furnace Slag: waste product of the steel industry that can be upcycled in cement to increase the strength and durability of concrete. A by-product of the steel-making industry, Granulated Blast Furnace Slag (GBFS) is produced by the rapid cooling of iron ore slag.
GD: Good: Of high quality, of high standard, satisfactory, in order etc.
GIB: Gibraltar: A British overseas territory on the south- ern end of the Iberian peninsula at the entrance of the Mediterranean Sea.
GL: Germanischer Lloyd: German Classification Society. It ceased to exist as an independent entity in September 2013 as a result of its merger with Norway’s DNV to become DNV GL.
GL: Great Lakes: A series of five interconnected Fresh Water lakes located in northeastern North America, on the Canada – USA border. They are connected to the Atlantic Ocean through the Saint Lawrence River, forming the largest group of Fresh Water lakes on Earth. Due to their sea-like characteristics such as waves, winds, currents, great depths, distant horizons, Great Lakes are also referred to as “inland seas”. The Saint Lawrence Seaway (St. Lawrance) and Great Lakes Waterway make the Great Lakes accessible to ocean-going ships, but shifts to wider ocean-going containerships have limited container shipping on the lakes. Most Great Lakes trade is of bulk material. Large sections of the Great Lakes freeze over in winter, interrupting most shipping from January to March. The Great Lakes Waterway connects all the lakes; the smaller Saint Lawrence Seaway connects the lakes to the Atlantic Ocean.
GLESS: Gearless: Term referring to a ship which does not have its own cargo-handling equipment. Opposite: Geared (GRD).
GMT: Greenwich Mean Time: The time of the meridian of Greenwich (UK).

GR: Grain Capacity or Grain Space Capacity: The cargo capacity of the ship’s holds, measured in cubic feet or cubic metres. This measurement takes into account the Broken Stowage of the holds, i.e. it includes Empty Spaces in the holds created from the uneven shape of the cargo or the shape of the holds. Grain Capacity is a key factor for the calculation of a bulk cargo which a ship can load, when the stowage factor of this cargo is known.
GRD: Geared: Term referring to a ship which has its own cargo- handling equipment. Opposite: Gearless (GLESS).
Gross Terms: Voyage Charter term. In this case the Shipowner is responsible for all costs resulting from the commencement of cargo loading until the end of discharging. Shipowner must arrange and pay for the execution of cargo loading, unloading, tallying (counting, measuring), stowage, stacking and other voyage costs. Thus, under Gross Terms, the Freight rate earned by the Shipowner will include all the above. Opposed terms are “FIO”, “FIOT”, “FIOST” etc. However, either in “Gross Terms” or in “Fio Terms”, Port Expenses (Port DA) are always payable by the Shipowner in a Voyage Charter.
GRT: Gross Registered Tonnage: The Gross Tonnage of the ship expressed in Gross Registered Tons. GRT equals to 100 cubic feet or 2.831 cubic metres. This capacity includes all enclosed spaces of a ship.
G.S.S.L.: Genova, Savone, Spezia, Leghorn: Italian ports.
Gencon – General purpose voyage charterparty published by BIMCO
General Average Clause – Clause that states the rules for adjusting General Average (York-Antwerp Rules)
GBFS – Granulated Blast Furnace Slag
GGBFS – Ground Granulated Blast Furnace Slag
Gless – GLS – Gearless Ship – Ship which is not equipped with her own cranes or derricks
GNCN – General Conditions
GN – Grain
GO – Gas Oil
GRD – Geared
GSB – Guaranteed Safe Berth
GSA – Goods Safe Anchorage
GSP – Good Safe Port
GT (Gross Tonnage) – a ship’s total internal volume expressed in “tons”, one of which equals a volume of 100 cubic feet (2.83 m ‘). It is calculated from the total permanently enclosed capacity of the vessel.
GA – General Average – The reimbursement of loss, suffered by a party as a result of an intentional act or sacrifice that was carried out during a voyage to preserve the venture from a real danger. All the other parties to the marine adventure are obliged to pay a pro- portion of the amount of the loss according to the value of their interest.
Grain/Grain Capacity – Cubic capacity of a ship’s holds available for the carriage of grain or any other free-flowing bulk cargo capable of filling the space between the ship’s frames, expressed in cubic feet or cubic meters. See also Bale Capacity.
Gross Terms – A voyage charter where the shipowner pays for loading and discharging.
GRTEE – Guarantee

H

HA: Hatches: The lids of the holds of the ship.
H.A.D.: Havre/Antwerp/Dunkirk: Selection of Euro- pean ports of call. Le Havre or Antwerp or Dunkirk.
HA Dims: Dimensions of hatches.
Handymax: Typically, a bulk carrier of about 35,000–50,000 DWT. The term may be less often used to describe a tanker of about 40,000–60,000 DWT.
Handysize: A bulk carrier of about 20,000–35,000 DWT, or a tanker of about 20,000–40,000 DWT. All tankers ranging between 20,000–60,000 DWT may be called Handy Tankers.
Haw: Hawaian Islands: An archipelago of eight major islands, several atolls, numerous smaller islets and undersea seamounts in the North Pacific Ocean, extending some 1,500 miles from the island of Hawaii.

HFO: Heavy Fuel Oil: Type of bunker (fuel) of high density and low processing, used in the main engine of the ship.
H/H: Havre to Hamburg: The area from Havre to Hamburg, including both of them.
HHDWS: Heavy Handy Deadweight Scrap: It is a cargo type concerning scrap metals which may be usually exported from the US. The word handy indicates that the cargo does not fall to the category of very light cargoes (stowage factor of about 90 cb.ft. per mt), but neither to the category of very heavy cargoes (stowage factor of about 20–40 cb.ft. per mt). The stowage factor of “HHDWS” ranges around 50 cb.ft. per mt.
HO: Holds: Ship’s holds.
Holiday: A day, apart from normal weekly rest days, when work is not usually performed during Ordinary Working Hours due to local law or practice (Laytime Definitions 2013, term 14).
HP: Horse Power: The horsepower of the ship’s main engine.
HR: Hampton Roads: A region that contains a set of ports on the East Coast of the USA. See term “Roads”.
HSS: Heavy Grains, Soya Beans and Sorghums: Term used in Grain Voyage Charters, referring to the transport of heavy grains, such as wheat or soya. Heavy grains have a low Stowage Factor (SF), as the higher the density and weight of the cargo, the lower the respective Stowage Factor (SF). For example, wheat has a stowage factor of between 44–49 cb.ft. per mt, while soybeans from 48–52 cb.ft. per mt. On the other hand, barley and oats are considered light grains.
2H – Second Half
HA – Hatch – The opening on the deck of a ship that provides access to the hold
Hague Rules – Rules governing the carriage of goods by sea and identifying the rights and responsibilities of carriers and owners of cargo. Hague-Visby Rules – Rules amending the Hague Rules
Half Hire – Provision in a time charterparty that half of daily hire is payable under certain circumstances (e.g. half hire to be paid from the moment the ship has been lost at sea until date of expected arrival)
Hamburg Rules – Rules governing the rights and responsibilities of carrier and cargo interests which may be incorporated into a contract for the carriage of goods by sea
HDLTSBENDS – Half Dispatch Lay Time Saved Both Ends
HDWTS – Half Dispatch Working Time Saved
Head Charter – Term used to distinguish the contract for the charter of a ship between the owner and a charterer and the one for sub-letting the ship by the charterer
Hire or Hire Money – Money paid by a charterer to a shipowner for the hire of a ship taken on time charter. It may be expressed, for example, as an amount per day.
Hire Statement – Written statement of the amount of hire money pay- able by a time charterer to a shipowner, showing the duration of the charter. Deductions may be made for port disbursements and cash advancements, domestic bunkers, commissions/brokerages and off-hire events. The first and last statements detail the quantity of bunkers remaining on board at delivery and redelivery.
Ho. – Hold – Space below the deck of a ship, used for carrying cargo numbered consecutively starting with the forward-most
HMS – Heavy Metal Scrap
HRA – High Risk Areas – Warlike and High-Risk Areas are regions of the world where there is a significant level of exposure to safety and life risks due to war, military tension, hostilities, pirate activity, and other circumstances that pose immediate danger to visiting vessels and their crews.

I

IFO: Intermediate Fuel Oil: Type of semi-processed fuel with its density ranging between that of the HFO and MDO.
IGS: Inert Gas System: A technical system of gas neutralisation applying to all tankers to avoid accidents from fire explosions.
I.L.O: In Lieu of: Against. Amount paid for/against a work. For example, “ILOHC” means “In Lieu of Hold Cleaning” or an amount to be paid against cleaning the ship’s holds.
ILO: International Labour Organisation: International organisation which supports and defends human and labour rights.
IMO: International Maritime Organisation: It is the largest maritime organisation worldwide, forming a specialised part of United Nations (UN). It mainly deals with the safety of maritime navigation and the prevention from pollution of the marine environment. IMO influence on Chartering matters is limited to the extent that the terms of a Charter Party require ships’ compliance with international navigation and anti- pollution rules.
In Geographical Rotation: If on a Voyage Charter the Charterer has the option to direct the ship at more than one loading or unloading ports, it is important that the Charter Party establishes a particular (the most reasonable) geographical order of ship’s approach at these ports.
INCL: Including: Comprising.
INCLOT: Including Overtime.
Ind Sub: Indian Subcontinent: A southern region of Asia, mostly situated on the Indian Plate and projecting southwards into the Indian Ocean from the Himalayas. Definitions of the extent of the Indian subcontinent differ but it usually includes the core lands of India, Pakistan and Bangladesh; Nepal, Bhutan, Sri Lanka and the Maldives are often included as well. The region is also called by a number of other names including South Asia, a name that is increasingly popular.
Indo: Indonesia: A sovereign island country in Southeast Asia and Oceania. Indonesia is the largest island country in the world by the number of islands, with more than 14,000 islands. The Indonesian archipelago has been an important trade region since at least the seventh century.
INL: International Navigating Limits: They are the official geographical restrictions placed on the ships’ trading by the British Institute of Marine Underwriters. Until 2003 they were known as “Institute Warranty Limits” (IWL). If the Shipowners or Charterers wish to send a ship to the excluded areas, they should pay additional premium to the insurers of the ship.
ITF: International Transport (Workers’) Federation: An international organisation dedicated to the defence of Seafarers’ interests.
Ice Clause – Clause whereby a Ship Master may have the right to divert the ship to the nearest safe port to discharge cargo destined for an ice- bound port. Equally, a Charterer may have the option of keeping a ship waiting for ice conditions to clear on payment of demurrage
ICA – Inter-Club Agreement
I/I – Iran and Iraq
IMDG – International Maritime Dangerous Goods Code
IMO – International Maritime Organization
INCLOT – Including Overtime
Incoterms – Rules governing the interpretation of terms used in inter- national trade, published by the International Chamber of Commerce.
IND – Indication
Inherent Vice – Any existing defects, diseases, decay or the inherent nature of the commodity that will cause it to deteriorate with time.
Interim Voyage – Voyage undertaken by a ship between the times she is chartered for a specific voyage and the time she performs it.
ILOHC – In Lieu of Hold Cleaning (on redelivering a ship)
ILOHC LS – In Lieu of Hold Cleaning Lump Sum
ILOW – In Lieu of Weighing (usually expressed as a percentage, for example 0.5% of Freight – for cargoes with high moisture content where the Freight is paid on the Bill of Lading (B/L) quantity as the delivered weight will be less as the moisture content will reduce during the voyage)
IU – If Used
IUATUTC – If Used, Actual Time Used To Count
IUHTAUTC – If Used, Half Time Actually Used to Count
IWL (Institute Warranty Limits) – Map indicating safe trading limits for ships. No additional insurance premiums are levied when navigating within IWL.

J

JAS – Japanese Agricultural Standard (JAS) cubic metre is a global industry standard measurement of log volume
JAS CBM – Japanese Agricultural Standard Cubic Metre
Jettison Clause – Clause indicating the circumstances under which a master is entitled to jettison goods from a ship.
Joint Survey – Inspection carried out by a surveyor on behalf of two parties, the cost generally being borne by both.
Jurisdiction Clause – A clause that specifies the country which has jurisdiction for administering justice if there is a breach of contract.

K

KN: Knot: Unit of measuring ships’ speed. A knot is equal to a mile per hour.
KT – Knot

L

LAT: Latitude: Latitude (φ) is a geographic coordinate that specifies the north–south position of a point on the Earth’s surface. Latitude is an angle which ranges from 0° at the Equator to +90° at the North Pole and –90° at the South Pole. Lines of constant (same) latitude are the so-called “parallels” which run east–west as circles parallel to the Equator. Latitude is used together with Longitude to uniquely define the precise location of features on the surface of the Earth (e.g. ships’ geographical position).
Laydays: The days of “laytime”. In other words, the agreed number of days allocated to the Charterer for completion of the loading or unloading of the ship.
Laytime: Laytime is the time period agreed upon by the Shipowner and the Charterer during the Voyage Charter, where the Charterer commits to loading and unloading the ship without additional payment beyond the Freight.
LBP: Length Between Perpendiculars: The length between ship’s perpendiculars.
L/C: Lay/Can: Laydays/Cancelling This term gives the Shipowner an amount of time to present his ship ready for loading in a Charter, for example “Laydays 1st June/Cancelling 15th June”. If the ship reaches the loading port earlier than the Laydays, it probably should wait. If the ship arrives after the Cancelling date, then the Charterer is entitled to cancel the Charter. The term is also used in Time Charters to denote the agreed time that is provided to the Shipowner in order to present his ship ready for delivery to the Time Charterer.
L/C: Letter of Credit: See LOC.
LCL: Less (than a) Container Load: Term opposed to “FCL (Full Container Load)”. LCL describes a cargo despatch whose size is not large enough to fill an entire container. For example, a Shipper may need to transport a small amount of packed cargo, able to be carried either as Break Bulk Cargo or as General Cargo. This cargo shipment is delivered to the sea carrier directly or indirectly through a Freight Forwarder (FF). Independent small amounts of LCL cargoes coming from different Shippers but directed to a common destination, are incorporated in one cargo shipment and transported in the same container under a joint Bill of Lading (B/L). It is a process typically called Groupage. Consolidation of LCL cargoes and stuffing of containers take place in special areas of the Container Terminals (called Container Freight Stations (CFS) or Container Yards (CY). Finally, the Freight for an LCL cargo is generally higher than the Freight of a similar cargo as FCL, as the LCL takes into account the additional cost of unification (consolidation) of different cargoes and the stuffing of containers.
LD: Loading Port: The loading port in a Voyage Charter.
LDT: Light Displacement Tonnage or Light Weight: The Lightship Displacement (Weight) of a ship is formed by the weight of the hull, the machinery, the equipment and the spare parts on board. The Light Displacement is usually the parameter by which the scrap value of a ship is calculated at the end of its commercial life. The difference between the Loaded Displacement (Weight) of the ship and the Lightship Displacement (Weight) of the ship is the Deadweight of the ship (Loaded Displacement – Light Displacement = Deadweight Tonnage).
L.H.A.R.: London, Hull, Antwerp and/or Rotterdam: Geographical order of European ports, where discharging of grain usually takes place.
LIFO: Liner In Free Out: Voyage Charter term. Cargo loading costs are carried by the Shipowner, whilst the cost of unloading is borne by the Charterer or the Consignee.
Liner Terms: Synonym to Gross Terms. Liner Terms is a wording mainly used to Liner Shipping, whereas Gross Terms is commonly used in the dry bulk cargo and tramp shipping.
LMAA: London Maritime Association of Arbitrators: A maritime arbitration association based in London.
LNG: Liquefied Natural Gas: Type of gas cargo and type of the respective Gas Carrier which carries such cargo.
LOA: Length Overall: The maximum length of a ship.
Loaded Displacement: The Loaded Displacement (Weight) of the ship is the sum of the Lightship Displacement (Light Displacement) and the Deadweight of the ship (Deadweight Tonnage).
Loading/Discharging Rate: Rate of loading/unloading the ship. It is critical for Laytime purposes.
LOC: Letter of Credit: A legal and financial document issued by a bank at the request of a cargo Consignee (Buyer of the cargo), guaranteeing payment to the Shipper (Seller of the cargo) if certain terms and cargo delivery conditions are fulfilled. In the event that the Buyer of the cargo is unable to make payment on the purchase, the bank will cover the outstanding amount. Normally, the Letter of Credit (L/C) contains a brief description of the cargo, documents required, a shipping date and an expiration date after which payment will not longer be made.
LOG: Letter of Guarantee: A written undertaking issued by a Guarantor (a bank) at the request of the Applicant (one party of a commercial deal, or one part of a contractual or economic relationship) to the Beneficiary, guaranteeing the fulfillment of certain economic obligations under the deal or the contract signed between the Applicant and the Beneficiary. The sum is paid to the Beneficiary by the bank, if the Applicant does not fulfil the stipulated obligations under the contract. This can be used for example to essentially insure a Buyer or Seller of cargo from loss or damage due to non-performance by the other party in a sales contract. LOG must clearly specify the amount and the valid period of the guarantee.
LOH: Loss of Hire: Insurance against loss of ship’s income.
LOI: Letter of Indemnity: Letter of compensation. A written undertaking by a third party, on behalf of one of the parties (the first party) to a transaction or contract, to cover the other party (the second party) against specific loss or damage arising out of the action (or a failure to act) of the first party. For example, when a ship has arrived at the delivery port before the Original Bills of Lading (B/L) reach there, the Shipper may instruct the Ship Master to deliver the cargo to a specific Recipient without the appearance of the Bills of Lading (B/L). In such case, the Ship Master requests from the Shipper to sign a Letter of Indemnity (LOI) (compensation), i.e. an attestation that he undertakes himself to indemnify the Shipowner for any damage that may arise if it is proved that this recipient was not entitled to the cargo.
LΟ/LO: Lift On/Lift Off: System of cargo handling, used mainly for loading and unloading of containers. It comprises technical methods which hoist and draw down the cargo to and from the ship by cranes or other lifting devices (e.g. fork lifts).
LONG: Longitude: Longitude (λ) is a geographic coordinate that specifies the east–west position of a point on the Earth’s surface. Longitude is defined through Meridians, which are imaginary half-circle lines running from pole to pole. Points with the same longitude lie in the same meridian. Longitude is an angular distance, usually measured in degrees east or west on the earth’s surface, expressing the angle contained between the meridian of a particular place and a reference meridian, so-called the Prime Meridian. By convention, the Prime Meridian passes through the Royal Observatory, Greenwich, England, establishing the position of zero degrees Longitude. The Longitude of other places is measured as the angle east or west from the Prime Meridian, ranging from 0° at the Prime Meridian to +180° eastward and −180° westward. The +180 and −180 degrees longitude Meridians coincide directly opposite the Prime Meridian. Difference in Longitude may also be expressed by some corresponding difference in time.

LPG: Liquefied Petroleum Gas: Type of gas cargo and type of the respective Gas Carrier which carries such cargo.
LR: Lloyd’s Register of Shipping: The British Classification Society.

LR: Long Range Product Tanker: A tanker carrying petroleum products and trading in long sea distances. Generally, tankers of this type may be defined as those having a size between 50/60,000 and 160,000 DWT. There are three sub-categories. Smaller ships are called LR1 and range between 50/60,000 and 80/90,000 DWT, while larger tankers are called LR2 and range between 80/90,000 and 120,000 DWT, or LR3 reaching up to 160,000 DWT.

LT: Long Ton: Weight measurement unit used in the Anglo-Saxon system, consisting of 2,240 lbs (pounds) and equivalent to 1,016 kgs (kilograms). One pound equals to 453 grams.
LTBENDS: Liner Terms Both Ends: Voyage Charter term. The costs of cargo loading and unloading are carried by the Shipowner, so they are included in the Freight Rate.
Lumpsum or Lump Sum Freight: Freight agreed to be paid as a Fixed Amount, instead of being calculated according to the amount of cargo carried as it is the most common practice.
LASH – To hold goods in position by use of ropes, wires, chains or straps etc.
Laycan or L/C – Laydays Canceling – Period denoted by two dates (e.g. March 2 and March 8) during which the shipowner must tender notice of readiness to the charterer that the ship has arrived at the port of loading and is ready to load. The charterer is not obliged to commence loading until the first of these dates if the ship arrives earlier and may have the option of canceling the charter if the ship arrives after the second of the dates, known as canceling date.
Laydays – Days allowed by the shipowner to the voyage charterer or Bill of Lading holder in which to load and / or discharge the cargo. See also Laytime.
Lay time Saved – Charterparty term used to define one method by which despatch money is calculated, that is, by deducting laytime used from lay time allowed. Also referred to as working time saved.
Lay time Statement – Portion of a time sheet, which details the amount of lay time used by a voyage charterer.
Lay time – Time allowed by the shipowner to the voyage charterer or Bill of Lading holder in which to load and I or discharge the cargo. It is expressed as a number of days or hours or as a number or tons per day. There is normally a provision in the charterparty for the commencement of laytime, which is often at a certain hour after notice of readiness has been tendered by the master, a provision for periods when laytime does not count, for instance during bad weather, weekends or holidays or a provision for lay time being exceeded, when demurrage or damages for detention become payable, or not being fully used, when dispatch may be payable.
LC – Letter of Credit.
Letter of Indemnity (LOI) – Written statement in which a bank undertakes to compensate the shipowner for the consequences of instructing the shipowner to deliver the cargo to a non-holder of the original Bill of Lading (B/L).
Lien Clause – Clause in a voyage charteparty which entitles the shipowner to exercise a lien on the cargo, that is, to retain control of the cargo until any freight, deadfreight or demurrage which is owed is paid.
LIFO – Liner In Free Out – Qualification to freight rate denoting that it is inclusive of the sea carriage and the cost of loading. It excludes the cost of discharging.
Lighter Aboard Ship (LASH) – a vessel that loads small barges direct from the water
Liner Bill of Lading – Bill of Lading containing the terms and conditions of carriage of a shipping line.
Liner Waybill – Document, issued by a shipping line to a shipper, which serves as a receipt for the goods and evidence of the contract of carriage but is not a document of title. Also referred to as a sea waybill or an Ocean Waybill or Waybill.
Linertime – A BIMCO deep sea time charterparty for liner operation.
LOA – Length Overall of the Vessel
LONL – Lost or Not Lost – Term which may be used in contracts of carriage in which the freight is prepaid: often, freight is not returnable whether the ship and/or the cargo are lost or not once having commenced the voyage.
LS (or LUMPS) – Lumpsum
LSD – Lashed Secured Dunnaged
Loose – Said of a consignment, which consists of single pieces not bundled together.
LT – Liner Terms
Lump Sum Charter – Voyage charter for which the freight is payable as a lump sum rather than per ton or other unit of cargo.
LYCN – Laycan (Layday Cancelling Date). The range of dates during which a ship will load.
LME – Large-Modern-Economical Panamax Bulk Carrier

M

MDO: Marine Diesel Oil: Fuel type of relatively low density and high processing, used mainly in the ship’s diesel generators.
ME: Middle East: A rather vague term used to describe a trans-continental region centered on Western Asia and Egypt.
MED: Mediterranean: It includes the Mediterranean ports from the Strait of Gibraltar in the west, to the Dardanelles in the northeast. The Adriatic Sea and the Aegean Sea are included, but the Suez Canal is excluded. Other variants EMED and WMED.
MEG: Middle East Gulf: Synonym to Persian Gulf (PG) or Arabian Gulf (AG).
MGO: Marine Gas Oil: Fuel type.
MIC: Man in Charge: The person responsible for a task.
Miss: Mississippi River: The chief river of the largest drainage system on the North American continent. Being the fourth longest and ninth largest river in the world, it flows entirely in the USA (though its drainage basin reaches into Canada), rising in northern Minnesota and meandering slowly southwards for 2,320 miles (3,730 km) to the Mississippi River Delta at the Gulf of Mexico. From the perspective of modern commercial navigation, the Mississippi River System, is a mostly riverine network of the US which includes the Mississippi River and inland waterways which are connected by artificial means. Mississippi River System is maintained by the US Army Corps of Engineers with a project depth of between 9 and 12 feet (2.7–3.7 m.) as per 2015 to accommodate barge transportation and navigation by small commercial ships, primarily of bulk commodities. It is one of the greatest commercial waterways of the world, facilitating a great percentage of annual US shipments in grain, oil, gas and coal.
M/M or Min/Max: Minimun/Maximum: It determines a specific minimum and a specific maximum quantity of cargo to be loaded. If however the term reads for example “50,000 tons min/max” in essence the agreed quantity of cargo to be loaded is Fixed and there is no margin for loading more or less than that.
MOL: More Or Less: It refers to an option on the determination of the exact amount of cargo to be carried, e.g. “100.000 tons, 5% More or Less”. Typically, the term stipulates which party has this option. For example:

a) MOLCO: More or Less Charterer’s Option: Charterer decides for the amount of car

b) MOLOO: More or Less Owner’s Option: Shipowner decides for the amount of car

MPC or MPP: Multi-Purpose Cargo Ship: Dry cargo ship capable of carrying both dry bulk cargoes and general cargo or containers.
MR: Medium Range product tanker: A tanker carrying petroleum products and trading in medium-haul sea routes. Generally, tankers of this category range from 25,000–50/60,000 DWT.
MSG: Message: Exchange of commercial information.
MT: Metric Ton or Tonne: Weight measurement unit. It consists of 1,000 kilograms (kgs) or 2,204 lb (pounds). Equivalent to 0.9842 Long Ton.
MDO (DO) – Marine Diesel Oil
Min/Max – Minimum/Maximum – When qualifying the contractual quantity in a voyage charter, this term signifies that the freight is pay- able on that precise quantity, no more and no less.
MOL – More or Less.
MOLCHOPT – More or Less in Charterer’s Option – Option allowed to a voyage charterer to load up to a certain quantity, normally ex- pressed as a percentage or a number of tons, over or under a quantity specified in the contract of carriage.
MOLOO – More or Less in Owner’s Option – Option allowed to a shipowner to carry up to a certain quantity, normally expressed as a percentage or number of tons, over or under a quantity specified in the voyage charter. This option may be sought if the shipowner is not certain what the ship’s cargo capacity will be, taking into consideration bunkers, stores and fresh water, or if he wants flexibility to adjust the ship’s trim.
M/R – Mate’s Receipt – Receipt made out by the first officer, stating the quantity and condition of the goods loaded on board the ship. This document is given to the shipper and later exchanged for the Bill of Lading.
MT – Metric ton – 1,000 kilograms.
M/V – Motor Vessel

N

N Af: North Africa (NAFR): It is the northernmost region of Africa. Geopolitically, the United Nations definition includes seven countries or terriories; Algeria, Egypt, Libya, Morocco, Sudan, Tunisia, and Western Sahara.
N At: North Atlantic Islands: The islands of the North Atlantic Ocean.
NAABSA: Not Always Afloat But Safely Aground: In some ports, due to a limited depth, it is customary for the ship to deliberately run ashore in the muddy seabed to reach and load/unload. In this case the term NAABSA is agreed in the Charter Party. Opposite: Always Afloat (AA) or Always Safely Afloat (ASA). Synonym: Sitting Aground (SA) or Safely Aground (SA).
NCSA: North Coast South America: It includes the ports or places located in the North Coast of South America, from Turbo in the west to Georgetown in the east.
NCΝA: North Coast North America: The northern part of North America (Canada and Alaska).
NDFCAPMQS: No Dead Freight for Charterers Account Provided Minimum Quantity Supplied: The Charterer is not required to pay Deadfreight to the Shipowner, as long as the Charterer provides the minimum quantity of cargo as agreed in the Charter Party.
n.E.: not East of: Geographical description.
NEOBIG: Not East of but Including Greece: Greece is the eastern geographical limit.
Net Terms: Voyage Charter term, not common nowadays. In this case the Shipowner receives a Net Freight Rate. All cargo-handling expenses are borne by the Charterer. Opposite to Gross Terms.
NEWCI: Not East of West Coast Italy: West coast of Italy is the eastern geographical limit.
n.N.: not North of: Geographical description.
N Pac: North Pacific islands: The islands of the North Pacific Ocean.
n.S.: not South of: Geographical description.
n.W.: not West of: Geographical description.
NK: Nippon Kaiji Kyokai: Japanese Classification Society.
NOR: Notice of Readiness: Upon arrival and readiness to load or discharge, the Ship Master typically issues a Notice of Readiness (NOR) declaring the ship ready to load. Often, Charterers are entitled to a Notice Time (Free Time, Grace Time) before Laytime commences.
Northern Range: US ports of Norfolk, Newport News, Philadelphia, Baltimore, New York, Boston, Portland: It is the region of the East Coast of the USA, which includes these ports.
NR: Number: Arithmetic measure.
NRT: Net Registered Tonnage: The Net Capacity of the ship measured in registered tons. It includes all enclosed spaces of the ship that are available for Cargo.
NWE: Northwest Europe: Geographically, it usually consists of Ireland, Great Britain, Belgium, the Netherlands, northern Germany, Denmark, Norway, Sweden and Iceland. Luxembourg, northern France, southern Germany and Switzerland are also usually considered part of the grouping.
NAABSA – Not Always Afloat But Safely Aground – Provision in a charterparty that the charterer has the right to order the ship to a port where she may touch the bottom in safety.
Negligence Clause – Clause to relieve the shipowner of liability for losses caused by the negligence of his servants or agents.
New Jason Clause – Protective clause which provides that the shipowner is entitled to recover in General Average even when the loss is caused by negligent navigation.
Nomination – Designation of a specific ship for a particular voyage by a shipowner.
Non-Negotiable Bill of Lading – Bill of Lading which is not a Signed, original Bill of Lading and therefore cannot be used to transfer title in the goods.
Non-Reversible Lay time – Time allowed to the charterer for loading is to be treated separately from the time allowed for discharging for the purpose of calculating demurrage or dispatch.
NOR – Notice of Readiness – Clause in a voyage charter that the shipowner or master must advise the charterer when the ship has arrived and is ready to load or discharge for laytime to start counting.
NOS – Not Otherwise Specified
Notice of Redelivery – Written notice given by the time charterer to the shipowner giving the date when the ship is to be returned to the shipowner at the end of the period of the charter. Charterparties may stipulate that several such notices be given at agreed intervals as the date of redelivery approaches.
NRT – Net Registered Tonnage
NT (Net Tonnage) – The total of all enclosed spaces within a ship avail- able for cargo expressed in tons each of which is equivalent to one hundred cubic feet.
NYPE – New York Produce Exchange – standard Time Charterparty form

O

OA: Overaged: Aged, old.
OABE: Owners Agents Both Ends: Shipowners Appoint Agents in both ports (loading/unloading). Opposite: CHABE (Charterers Agents Both Ends). Charterers Nominate Agents and Shipowners Appoint Agents.
OBO: Oil/Bulk/Ore: The so-called Combination Carriers are outdated ships able to transport either oil or iron ore or other dry bulk cargoes.
OCIMF: Oil Companies International Marine Forum: An association of oil companies having an interest in the shipment and terminalling of crude oil and oil products.
OECD: Organisation for Economic Co-operation and Develop- ment: An international economic organisation of 35 countries, founded in 1961 to stimulate economic progress and world trade.
OO: Oil/Ore: Similar to OBO (Oil/Bulk/Ore), but able to transport either oil or iron ore.
OPEC: Organisation of Petroleum Exporting Countries: An international organisation representing the interests of major petroleum exporting countries. It is now headquartered in Austria, but first established in Baghdad, Iraq in 1960. OPEC was formed when the inter- national oil market was largely dominated by a group of multi-national oil companies known as the “Seven Sisters”, thus its formation represented a collective act of sovereignty by petroleum-exporting nations, as it ensured that oil companies could not any more determine oil prices. Nowadays, OPEC’s mission is to coordinate and unify the petroleum policies of its member countries and ensure the stabilisation of oil markets, in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry. As of May 2017, OPEC had 14 members: Algeria, Angola, Ecuador, Equatorial Guinea, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia (the de facto leader), the United Arab Emirates and Venezuela. As of 2014, approximately 80% of the world’s proven oil reserves were located in OPEC member countries and two-thirds of OPEC’s reserves were located in the Middle East. According to the US Energy Information Administration (EIA), OPEC crude oil production is an important factor affecting global oil prices.
OPT: Option: Selection, decision, alternative.
Off Hire – When charterer is deprived of the use of a ship through no fault of his own (breakdown, dry docking, deviation to collect spare parts etc) hire money temporarily ceases to be paid.
Off Hire Survey – Inspection carried out at the time a ship is redelivered by a time charterer to a shipowner at the end of the period of the charter to determine whether the ship is in the same condition, wear and tear excepted as on delivery. The quantity of bunkers is also ascertained
OHBS – Open Hatch Box Shaped
OHBC – Open Hatch Bulk Carrier (ConBulker) is designed to provide direct access to the hold, the cargo hatches on this ship extend across its full width.
OO – In Owner’s Option – A term giving a choice to the shipowner, like for instance, the owner may have the option of specifying the exact quantity of cargo to be loaded.
Open – A ship that is available from a specified date at a particular place to sail to another port to load her next cargo.
OPL – Outside of Port Limit, Off Port Limit. The OPL area is essentially the anchorage for ships outside the port, which is a common practice for vessels in various countries. This practice is carried out for several reasons, such as conducting activities while waiting for orders or berths at the port, awaiting payment, bunkering, tank cleaning, and other purposes.
OPL Bunkering – Outside of Port Limit Bunkering, Off Port Limit Bunkering
Orders – Instructions given by the shipowner or ship operator to the master of a ship concerning the next voyage.
OSB – One Safe Berth
OSH – Open Shelter Deck
OSP – One Safe Port
OT – Overtime.
Overlap – The period of time during which a charterer retains a vessel beyond the stated period of the time charter.
Owners Agents – Ship’s agent nominated by, and paid by the shipowner.
Owners Broker – Shipbroker who acts on behalf of a shipowner in the negotiations leading to the chartering out of the owner’s ship.
OWS – Owners

P

PMX (Panamax): Those ships which have the maximum dimensions allowing passage through the Panama Canal. Currently, the term may refer either to a bulk carrier of about 60,000–100,000 DWT or a tanker of about 60,000–80,000 DWT. However, after the construction of the third, wider lane in the Neo-Panama Canal in 2016, the size of ships able to cross the Panama Canal is expected to adjust.
PANDI: Protection and Indemnity Club or Insurance: A P&I Club is a mutual insurance association that provides risk pooling, information and representation for its members. Unlike a marine insurance company, which reports to its shareholders, a P&I Club reports only to its members. Originally, P&I Club members were typically Shipowners, Ship Operators or Demise Charterers, but more recently Freight Forwarders (FF) and Warehouse Operators have been able to join. P&I Clubs provide cover against third-party liabilities encountered in the commercial operation of ships. Examples of main risks covered are liabilities, expenses and costs related to loss of life, injury and illness of crew, passengers and other persons, cargo loss, collision, damage to docks, pollution etc. P&I is to complement a ship’s Hull and Machinery (H&M) Insurance and related covers. It is distinguished from ordinary Marine Insurance in that it is based on the not-for-profit principle of mutuality where members of the P&I Club are both the insurers and the insureds. Whereas in Hull & Machinery (H&M) Insurance the assured pays a Premium to an underwriter for cover which lasts for a particular time (e.g. a year or a voyage), a P&I Club member instead pays a Call. This is a sum of money that is put into the P&I Club’s pool. If at the end of the year there are still funds in the pool, each member will pay a reduced call the following year; but if the P&I Club has made a major payout (e.g. after an oil spillage) P&I Club members will immediately have to pay a further Call to replenish the pool. Major Clubs are coordinated through the “International Group of P&I Clubs” based in London.
PC: Part Cargo: Cargoes which do not cover the entire cargo capacity of a particular ship, but whose quantity is sufficient to be carried on charter terms.
PC: Port Charges: Charges levied on the ship by a port authority for the use of the port.
PCC or PCTC: Pure Car Carrier or Pure Car/Truck Carrier: A type of specialised ship carrying exclusively cars, trucks and vehicles in general.
PCT: Per Cent (%): Number or amount expressed per hundred.
PD: Per Day: Daily.
PDPR: Per Day Pro Rata: (Daily and in proportion.
PDWP: Per Day Weather Permitting: (Working Day) Weather Permitting: This term is synonymous with Weather Working Day of 24 Consecutive Hours, ensuring consistent interpretation (Laytime Definitions 2013, term 18).
Per Hatch Per Day: Per Hatch Per Day may be used for Laytime calculations, based on the number of cargo hatches on the ship. Even if a Hatch lies over an unused compartment, it still qualifies as a Hatch, though not necessarily as a Working Hatch. A Cargo Hatch is the deck opening used to load or unload cargo into or from the cargo holds. The term Per Workable Hatch Per Day generally benefits Charterers more than Shipowners. A Hatch is Workable if there is cargo in the hold beneath it.If the corresponding hold is empty or remains unused, the Hatch is not considered Workable. Therefore, Workability relates to the cargo below and not to whether the ship has equipment such as cranes or derricks above the Hatch.
PG: Persian Gulf (PG) or Arabian Gulf (AG): It includes the ports of the Persian Gulf (Arabian Gulf or Middle East) Gulf. The one end of the Gulf will be Basrah in the north, while the other end will be given by the notional line joining Bandar Abbas with the Musandam Peninsula in the southeast of the Gulf.
PIC: Person in Charge: Synonym to MIC.
PΙCΟ: Port In Charterers’ Option: Port determination to be made by the Charterer.
PLT: Per Long Ton: By Long Ton, a weight unit used in Anglo-Saxon systems equals to 1,016 kgs.
PMT: Per Metric Tonne (or Metric Ton in the US): By tonne or metric tonne (or metric ton in the US) consisting of 1,000 kgs.
POA: Payment on Account: Payment against a work in progress or to be performed. The final amount of total expenses will be cleared in a later stage, on the completion of this work. After the Despatch of relevant supporting documents and the monitoring of all accounts (Disbursements), final settlement should be made to determine whether an additional payment of money or a return is required.
Port: According to Laytime Definitions 2013 (term 1), “Port shall mean any area where ships load or discharge cargo and includes, but is not limited to, Berths, wharves, anchorages, buoys, and offshore facilities as well as places outside the legal, fiscal, or administrative area where ships wait their turn, regardless of the distance from that area.”
PPT: Prompt: It indicates that the cargo or the ship will be readily available or in time.
PR: Pro Rata: In proportion.
Pratique (P) or Free Pratique (FP): Upon arrival at a port of call, the ship is inspected by the Health Authorities of the port to confirm that it is a Healthy Ship, no infectious diseases are carried, living conditions are appropriate and therefore the ship may enter the port and proceed to the cargo-handling operations.
PROBO: Products/Bulk/Oil: A type of a combined carrier which is able to transport either oil products or crude oil or dry bulk cargoes.
Prod: Product Carrier: A tanker able to carry oil products.
P/STN: Pilot Station: At seaports, the office or headquarters of marine pilots; the place where the services of a pilot may be obtained; On board, position on the bridge of a ship where the pilot stands to steer or to give directions for steering a ship into and out of a harbour.
PT: Per Ton: Term which needs to be interpreted according to the context. It may mean: (a) A unit of internal capacity for ships equal to 100 cubic feet (called also Register Ton). (b) A unit approximately equal to the volume of a long ton weight of seawater used in reckoning the displacement of ships and equal to 35 cubic feet. (c) A unit of Volume for cargo Freight usually reckoned at 40 cubic feet (called also Measurement Ton). (d) A unit of weight meaning a tonne or a metric tonne (or metric ton in the US) composed of 1,000 kgs (e) A unit of weight meaning either a short ton of 2,000 pounds (about 907 kgs) or a long ton of 2,240 pounds (about 1,016 kgs), with the short ton being more frequently used in the US and Canada and long ton in the UK. Where accuracy is required in terms of weight, the correct term must be used, but for many purposes this is not necessary as the metric and long tons differ by only 1.6%, and the short ton is within 11% of both. From 1965 the UK embarked upon a programme of metrication and gradually introduced metric units, including the tonne (metric ton in the US), defined as 1,000 kgs (2,204.6 lbs). The UK Weights and Measures Act 1985 explicitly excluded from use for trade the ton (Short or long) and the term “metric ton”, replacing them for “tonne”.
Paramount Clause – Clause in a Bill of Lading or charterparty which stipulates that the contract of carriage is governed by the Hague Rules or the Hague-Visby Rules ..
Part Cargo – Goods which do not represent the entire cargo for a particular ship but whose quantity is sufficient to be carried on the charter terms.
Part Charter – The chartering of a ship to carry a quantity of goods, which represents only a part of the cargo.
PC – Period of Charter
PCGO – Part Cargo
PCT – Percent
PDPR – Per Day Pro rata
PERDIEM – Per Diem – By the Day
Performance Claim – Claim made by the time charterer against a ship- owner when the ship has been unable to achieve the speed agreed in the charterparty or has consumed too much fuel or both.
Performance Clause – Clause in a time charterparty which stipulates that, should the ship be unable to achieve the agreed speed or should she consume too much fuel, the charterer is entitled to recover from the shipowner the cost of time lost and extra fuel, normally by means of a deduction from hire money.
PFT – Per Freight Ton – see freight ton.
PHPD – Per Hatch Per Day
Port Dues – Charge levied against a shipowner by a port authority for the use of the port.
Post Fixture – After the contract for the charter of a ship has been agreed. Said of work carried out by a shipowner, charterer or shipbroker, including payment of hire or freight, calculation of dispatch or demurrage and the resolution of any disputes.
PRATIQUE – License or permission by the local health authorities to use a port
PQ – Port Qasim, Pakistan
Preamble – First few lines of a charterparty in which the main points to the contract and the ship are identified.
Private Form – Standard charterparty devised and used by a particular company.
Pro Forma Disbursements Account (PFDA) – Statement sent by a ship’s agent at a port to the shipowner in advance of the ship’s call at the port. It consists of the expenses that are likely to be incurred, including port charges, pilotage, towage and the agent’s commission.
Protecting Agent – Agent appointed by the owners or charterers to protect their interest and to supervise the work carried out by the ship’s agent.
Protecting Clauses – Clauses in a charterparty which provide contingencies for unforeseen situations, such as ice, strikes, general average or collision.
Purposes – Time allowed in a voyage charterparty for loading and dis- charging combined, expressed as a number of days or hours. Also referred to as all purposes.
PWWD – Per Weather Working day

R

RE: Regarding – Related to: Typical way of starting a business correspondence message.
Reachable On Arrival (ROA) or Always Accessible (AA): “Reachable on arrival shall mean that the Charterer ensures an available loading or discharging Berth is ready for the ship upon its arrival at the Port, which the ship can safely and promptly access.” (Laytime Definitions). The concept of Reachable On Arrival (ROA) has led to significant legal disputes over time. The updated Laytime Definitions 2013 reflect the current legal stance that any delay caused by Bad Weather or Congestion constitutes a violation of the Charterers’ duties. The contentious phrase “in the absence of an abnormal occurrence,” originally in VOYLAYRULES 1993, was removed. Furthermore, the term Always Accessible (AA) is generally understood to be equivalent to Reachable On Arrival (ROA) regarding entry into a Berth, although its application upon departure was more ambiguous. Consequently, the terms have been distinctly defined, with additional stipulations regarding the departure process, ensuring Charterers facilitate a safe and unimpeded departure for the ship.
RECAP TLX or MSG: Recapitulation Telex or Message: Telex or message confirming and summarising the main terms of a Charter Party. RECAP (Recapitulation): is usually sent immediately after the parties are Fixed Sub Details. Once all details are agreed upon, the Shipowners and Charterers confirm the agreement with a statement like “HEREBY CONFIRM/RECONFIRM THE FIXTURE.” Following this, all conditions must be clearly declared by the Charterers before the ship is considered definitively fixed. If consensus is reached, a RECAPITULATION (RECAP) message summarizing the final agreement is exchanged among all parties, detailing every aspect of the deal.
Reefer: Refrigerated Cargo Ship: A type of specialised ship able to carry frozen or chilled cargo.
RESP: Respectively: Accordingly, in the relative order.
Reversible Laytime: In Voyage Charter Parties, terms like Reversible or Average may be used, for example, “four days for loading and six for discharging, loading and discharging times to be reversible” or “four days for loading, six for discharging, Charterers having the right to average loading and discharging times.” With Reversible Laytime, the loading and discharging times are combined into a Total Time. Any unused time from loading becomes the Allowed Time for discharging. If the Total Time is exhausted during loading, the ship immediately enters Demurrage upon arrival at the discharging Port.
RNR: Rate Not Reported: The amount of the Freight Rate has not been reported to the Chartering Market.
RO/RO: Roll On/Roll Off: System of cargo handling and respective type of ship. The cargo is transported in wheeled vehicles, loaded and unloaded to and from the ship through ramps. The respective ferries that specialise in this kind of transport are called Ro-Ro Ships or Ro-Pax Ships if they are able to carry both wheeled cargoes and passengers.
Roads: US ports of Hampton Roads – Norfolk, Newport News, Sewells Point: It is the region of the East Coast of the USA, so-called Hampton Roads, which includes the above ports.
ROB: Remaining On Board: Term possibly related to the quantity of Cargo, Bunker (Fuel) or Fresh Water (FW) remaining on board at a time.
ROC or ROM or ROT: Regarding our Cable or Regarding our Message or Regarding our Telex: With reference to our message. .
RPM: Revolutions Per Minute: Term referring to the operating speed of a ship’s engine.
RS or R Sea: Red Sea: It includes ports and places at the Red Sea, from the Suez Canal in the north to the Strait of Bab el Mandeb in the south.
RS: Register of Shipping of Russia: Russian Classification Society.
Running Days (RD) or Consecutive Days (CD): Running Days (RD) or Consecutive Days (CD): Days that follow one immediately after the other, emphasizing the uninterrupted nature of Laytime (Laytime Definitions 2013, term 12).
Running Hours or Consecutive Hours: Running Hours or Consecutive Hours: Hours that follow consecutively, commonly used in Tanker Charter Parties (Laytime Definitions 2013, term 13).
RYC or RYM or RYT: Regarding your Cable or Regarding your Message or Regarding your Telex: With reference to your message.
Rate of Demurrage – Amount payable by a voyage charterer to a ship- owner for each day used to load and/or discharge cargo in excess of the time allowed.
Rate of Discharging / Loading – Number of tons of cargo discharged/loaded each day from / into a ship.
Receiver (RCVR) – Party who receives the cargo at the place of destination.
Redly – Redelivery – Return of a ship by the time charter to the ship- owner at the end of the period of the charter.
Redelivery Certificate – Document Signed by or on behalf of the ship- owner and the charterer, certifying the time, date and place of redelivery of the ship, the certificate also states the quantity of bunkers on- board at the time redelivery.
Release a Bill of Lading (to) – To provide the shipper with an original Bill of Lading, often in exchange for the freight.
Reversible Lay time – Term used in a Voyage Charterparty to signify that the time allowed for loading may at the charterers option, be added to the time allowed for discharging for the purpose of calculating demurrage or dispatch.
ROB – Remaining on Board
Round Voyage – Voyage involving two legs the second of which brings the ship back to the geographical area where the first leg commenced.
Running Days – Consecutive days of 24 hours including weekends and holidays.

S

S Af: South Africa (SAFR): The Republic of South Africa. See also “Southern Africa”.
S At: South Atlantic Islands: The islands of the South Atlantic Ocean.
SA or SB: Safe Anchorage (SA) or Safe Berth (SB): Anchorage or Berth where the ship during the stipulated by the Charter Party time it can Reach, Stay and Depart from there safely without, in the absence of some abnormal occurrence, being exposed to danger which cannot be avoided by good navigation and seamanship. See also “Safe Port (SP)”.

SATPMSHEX: Saturdays Post Meridiem Sundays Holidays Excluded: Saturdays after noon, Sundays and Holidays are excluded from Laytime.
SBT: Segregated Ballast Tanks: Independent tanks of ballast sea water in a tanker. By using separate ballast tanks, mixing of cargo and ballast is avoided and the risk of consequent pollution of the sea is restricted.
Scandinavia: It includes ports located in Norway, Denmark, Sweden and Finland, including the islands of the Baltic Sea.
SD or SDS or SDBC: Single Decker or Single Deck Ship or Single Decker Bulk Carrier: Type of a Multi-Purpose Ship with a single deck. The holds of these ships are not separated horizontally into two or more levels as occurs with Tween-Deckers or Multi-Deckers.
SD or SLD: Sailed: The ship has sailed from the port.
SD: Short Delivery: Delivery of incomplete cargo. The delivered quantity of cargo to the recipient is less than that agreed and indicated on the relevant Bill of Lading (B/L).
SEA: Southeast Asia: A sub-region of Asia, consisting of the countries that are geographically south of China, east of India, west of New Guinea and north of Australia. Southeast Asia consists of two geographic regions: Maritime Southeast Asia comprising Indonesia, East Malaysia, Singapore, Philippines, East Timor, Brunei and Christmas Island; and Mainland Southeast Asia (also known as Indochina) comprising Cambodia, Laos, Myanmar (Burma), Thailand, Vietnam and West Malaysia.
SF: Stowage Factor: A coefficient which shows the relation between the volume and the weight of a cargo, expressed in cubic feet per long ton or cubic metres per metric ton (or tonne). Stowage Factor (SF) is a measure that examines how much space (volume) is occupied in the hold of a ship from a certain amount of weight of a cargo. It is used in conjunction with the Grain Capacity or Bale Capacity of the ship to determine the total amount (weight) of cargo that can be loaded and plays a key role in how each cargo may be stowed. Cargoes with a Stowage Factor (SF) less than 50 cubic feet per long ton are Considered Heavy Cargoes, while those with a Stowage Factor (SF) greater than 50 cubic feet per long ton are considered Light Cargoes. The role of Stowage Factor (SF) is crucial in the dry cargo market, but not so important in other chartering business (e.g. tankers, gas carriers, containerships).
SHEX: Sundays Holidays Excluded: Sundays and Holidays are excluded from Laytime.
SHINC: Sundays Holidays Included: Sundays and Holidays are included in the Laytime.
Singapore/Japan: It includes the Far East ports located in the area which is determined by Singapore in the south to Japan in the north, through the South Sea in China. Singapore, Philippines, Taiwan and Japan are included, but Malaysia, Brunei, Indonesia and Papua New Guinea are excluded.
Sitting Aground (SA) or Safely Aground (SA): Shipowner agrees to enable the ship to run aground safely to the bottom of the loading or unloading port at low tide period, so as to load or unload. See also “NAABSA”. Opposite: “AA” or “ASA”.
SOF: Statement of Facts: A statement, prepared by the Ship Agents at the loading and discharging ports, which shows the date and times of arrival of the ship and the commencement and completion of loading and discharging. SOF details the quantity of cargo loaded or discharged each day, the hours worked and the hours stopped with the reasons for the stoppages, such as bad weather, a strike or breakdown of equipment.
SOL: Shipowners’ Liability: Shipowners’ responsibility.
Sous Palan: A Voyage Charter term. It is a French wording equivalent to the English expression “Under The Hook” or “Under Ship’s Tackle”. It indicates that the Shipowner’s liability for the cargo begins when the cargo has just been delivered alongside the ship at the stipulated berth of the loading port, and it ends when the ship unloads and delivers the cargo just alongside at the stipulated berth of the discharging port.
Southern Africa: It includes all the ports on the South Coast of Africa from Maputo in the east to Lϋderitz in the west, excluding both.
S&P: Sale and Purchase: The market of buying and selling second-hand ships.
S Pac: South Pacific Islands: The islands of the South Pacific Ocean.
SP: Safe Port: A port where the ship during the stipulated by the Charter Party time it can reach, stay and depart from there safely without, in the absence of some abnormal occurrence, being exposed to danger which cannot be avoided by good navigation and seamanship. Charterers’ obligation is to nominate a port or berth which, when the order is given, is prospectively safe i.e. is expected to be safe at the time of ship’s call. Charterers will not be in breach of Safe Port Warranty if the immediate and proximate cause of the loss is the negligence of the Ship Master, Shipowners or Shipowners’ Servants or Agents. Charterers will not be in breach either if loss is caused by some abnormal occurence.
SP range or Skaw/Cape Passero: It covers the entire area of the European continent, outlined from the Skaw, the northernmost point of Denmark, ending at Cape Passero on the eastern side of Sicily. It includes all the Atlantic Ocean, southern from Cape Skaw and the entire Western Mediterranean, including the Balearic Islands, Sardinia, Corsica and Malta, but excluding North African coast and the Adriatic Sea.

SPM: Single Point Mooring: Floating anchorage installed in deep water off a shallow port in order to facilitate large tankers to load or unload their cargo.
Spot: It indicates that a ship or a cargo is immediately available. Spot Rate is also the Freight Rate paid usually in USD/mt of cargo carried in a Voyage Charter.
SSW: Summer Salt Water: It refers to the ship’s draught when it is loaded up to its Summer Load Line in seawater conditions.
STBC/LAKER: Self Trimmer Bulk Carrier/Laker: A type of bulk carrier in which the shape of the holds allows the direct settlement of dry bulk cargo within them.
STEM: Subject to Existence of Merchandise: (cargo) See subject stem.
STN: Station: Terminal, depot, pilot’s waiting place.
Strike: A term defined in VOYLAYRULES 1993, but removed from Laytime Definitions for Charter Parties 2013. According to VOYLAYRULES 1993 it shall mean a concerted industrial action by workmen causing a complete stoppage of their work which directly interferes with the working of the ship. Refusal to work overtime, go-slow or working to rule and comparable actions not causing a complete stoppage shall not be considered a strike. A strike shall be understood to exclude its consequences when it has ended, such as congestion in the port or effects upon the means of transportation bringing or taking the cargo to or from the port.
Subject Details (SUBD or SUB DET): Term denoting that the final conclusion of a Charter (Fixture) is subject to the agreement of certain details (matters) between the Shipowners and Charterer. Under US law, a Subject Details (SUBD agreement is considered sufficient to create the Charter Party.
Subject Managers’ Approval (SMA) or Subject Board’s Approval (SBA): The charter fixture is subject to approval by the Charterers’ highest level of management.
Subject Open (SUBO) or Subject Free (SUBF): Shipowner states to the Charterer, during Chartering Negotiations, that the ship is also in Chartering Negotiations with other Charterers. Therefore, the closing of the charter will depend on whether the ship will still be Open to get chartered when the Charterer accepts the proposed terms, i.e. no other Charter Party will have arisen between the Shipowner and another Charterer in the meanwhile.
Subject Owners’ Approval of Charterers (SUBOAOC): The Fixture is subject to the approval of Charterers’ quality from the highest level of Shipowners’ Management. It is a condition favourable to the Shipowner, as opposed to the term Subject Board’s Approval. It is used when Charterer is somewhat unknown and the Shipowner wishes to collect some more details on his identity and track record.
Subject Receivers’/Shippers’ Approval (SUBRA/SUBSA):The closure of a Voyage Charter is subject to the approval and acceptance of the ship by the Recipients/Shippers of the cargo.
Subject Stem (SUB STEM) (STEM: Subject To Existence of Merchandise): The word STEM refers to the amount and availability of cargo on the date it is to be loaded on board. The phrase suggests that the Charter will be considered as Fixed only when Charterers confirm that the agreed cargo will be available on the specified dates. Otherwise, if Charterers are not in a position to provide the cargo at the stipulated dates, then the charter is frustrated, even if there is full agreement on all the remaining negotiating matters.
Subject to Contract: Fixture is considered to have been made only upon the signature of the final charter contract. The existing agreement between the two parties is deemed Temporary (Provisional Agreement) and in any case it is not binding until the Charter Party or other contract of carriage is signed.
Subject to Government Approval (SUB GA): Fixture is subject to approval and acceptance of the ship by government echelons in the country of Exporters/Charterers. The term is mainly used in cases where the Charterer is based at a developing country or the charter concerns the transport of state cargoes.
Subject to Signing Charter Party: Synonym to “Subject To Contract”.
Suezmax: A tanker ship typically ranging between 120,000–200,000 DWT.

Supramax : A bulk carrier of about 50,000–60,000 DWT.
SWAD: Salt Water Arrival Draught: The maximum draught of a ship on arrival at a port with “Salt Water/Sea Water”. See also BWAD and FWAD.
SWL: Safe Working Load: The maximum cargo that can be lifted safely by a cargo-handling mechanism, e.g. a crane or a winch. The maximum lifting ability of each machine is specific and should not be violated.
SB (Safe Berth) -It is the responsibility of the charterer to nominate a berth which is physically safe for the ship to load and discharge.
SBM – (Single Buoy Mooring) A Single buoy mooring (SBM) (also known as Single Point Mooring or SPM) is a loading buoy anchored offshore, that serves as a mooring point and interconnect for tankers loading or offloading gas or liquid products.
SPM – (Single Point Mooring)
SD – Single deck ship.
Sea Waybill – See liner waybill
Seaworthiness – Ship is appraised as fit to receive and carry cargo and to sail. Fitness parameters include sufficient crew, stores, fuel, and the condition of machinery and equipment.
SELFD – Self Discharging
SF (Stowage Factor) – It indicates how many cubic metres of space one metric tonne (or cubic feet of space one long ton) of a particular type of cargo occupies in a hold of a cargo ship.
SHEX – Sundays and Holidays Excepted – Charterparty term which provides that Sundays and public holidays do not count in the calculation of laytime.
SHINC – Sundays and Holidays Included – Charterparty term, which provides that Sundays and public holidays count in the calculation of laytime, whether or not used for loading or discharging, as the case maybe.
Shipbroker – Person having one or several occupations: chartering agent or owner’s broker, negotiating the terms for the charter of a ship on behalf of a charterer or shipowner respectively, sale and purchase broker, negotiating on behalf of a buyer or seller of a ship: ship’s agent, attending to the requirements of a ship, her master and crew when in port on behalf of the shipowner, loading broker, whose business is to attract cargoes to the ships of his principal.
Shipper – Person or company who enters into a contract with a liner conference, shipping line or shipowner for the carriage of goods.
Ship’s Agent – Person who looks after the interests of a ship while she is in port. His duties include the arranging of pilotage, towage and a berth for the ship, the signing of bills of lading and the collection of freight. The agent is paid a fee, agreed in advance with the shipowner.
Sous Palan – Sometimes, consignees of parcels are given the option to take delivery of goods using their own lighters. This option is provided under an “overside delivery” or “tackle” clause. When this clause is used in reference to French ports, it is termed the “sous palan” clause. The term “Sous Palan” translates to “under the derrick,” which refers to the area under the ship’s cargo handling tackle.
SP (Safe Port) – It is the responsibility of the charterer to nominate a port that is meteorologically, economically and politically safe for her to reach, remain and leave, taking into consideration the cargo to be loaded or discharged.
SRBL – Signing and Releasing Bill of Lading
SSHEX (Saturdays, Sundays and Holidays Excepted) – Saturdays. Sundays and public holidays do not count in the calculation of laytime.
SSHINC (Saturdays, Sundays and Holidays Included) – Sundays and public holidays count in the calculation of laytime.
STARBOARD – Right side of a ship when facing the bow
Statement of Facts (SOF) – Statement, prepared by the ship’s agent at the load- ing and discharging ports, which shows the date and times of arrival of the ship and the commencement and completion of loading and discharging. It details the quantity of cargo loaded or discharged each day, the hours worked and the hours stopped with the reasons for the stop- pages, such as bad weather, a strike or breakdown of equipment.
Stem (Subject to Enough Merchandise) – Availability of a cargo on the date or dates on which a ship is offering to load.
STEM – Subject To Enough Merchandise (Availability of Cargo)
STERN – The aft part of a ship
Strike Clause – Clause that sets out the options available to the parties to the contract of carriage in the event that a strike prevents or interrupts the loading or discharging of the cargo. In the case of a charter, the clause may contain a provision for the effect of a strike on laytime.
SUB – Subject (to)
Sub. Details – Subject Details – Term qualifying an offer or counter- offer for the charter of a ship which demotes that only minor details remain to be agreed. The conclusion of a contract is conditional on these details.
Sub. Free – Subject Free – Term used in an offer made by a shipowner to signify that the acceptance of that offer will only result in a contract if one has not been concluded in the meantime with a third party.
Sub. Open – Subject Open
Sub. Unfixed – Subject Unfixed
Sub-Charterer – Person or company who charters a ship for a party, who is not the owner but who, in turn, has chartered the ship.
Sub-Freight – Freight payable by the sub-charterer, normally to the charterer.
Subject Stem – Subject to the availability of the cargo on the dates on which a ship is offering to load.
Sub-Let – The charter of a ship to one party by another party who is not the owner but who, in turn. has the charter of the ship.
Substitution – The replacement of a ship with another ship.
SUB – Subject (to)
SUPERCARGO – Person employed by a ship owner, shipping company, charterer of a ship or shipper of goods to supervise cargo handling operations.
S&P – Sale and Purchase Broker – Person who negotiates the terms for the sale of a ship on behalf of the buyer or seller.
SWAD – Salt Water Arrival Draft
SWDD – Salt Water Departure Draft
SWL – Safe Working Load – Maximum load which can safely be borne by cargo handling equipment.
SWP – Southwest Pass – Usual Time Charter (TC) Delivery and Redelivery place in the United States. The entrance channel for this vast inland port system is known as Southwest Pass (SWP). Any vessel that needs to travel to any port along the Mississippi River must notify the Delivery Port of its arrival at Southwest Pass (SWP).

T

Tallying: The counting of the quantities of cargo before it is loaded on board or unloaded from it.
TBL: To Be Lifted: a. To be removed. In chartering matters Lifting is mainly related with Subjects, i.e. matters needing resolution before the charter can be agreed. When a Fixture is concluded with Subjects, it is up to the Shipbrokers to ensure that both principals Lift Subjects as soon as possible. It is important to note that no Fixture has been concluded until “All Subjects Have Been Lifted”, i.e. all laid conditions have been met, satisfied, cured and Subjects are removed. If All Subjects are in order “Lifted”, the ship stands “Clean Fixed”, i.e. the Charter Party is enforceable and parties are bound by the terms agreed. Precise and reasonable times should be determined for the Lifting of Subjects, b. To be carried, transported, elevated. The word “Lifting” may also refer to the cargo carriage.
TBN: To Be Nominated: Το be named, called or determined. It is commonly used in the chartering negotiations when something has not been revealed yet (e.g. the name of the Ship or the Charterer).
TBR: To Be Renamed: Something is going to be called or named again (e.g. the Ship is going to change name).
T/C: Time Charter: The hiring of a ship from a Shipowner to a Charterer for a period of time. Shipowner places his ship, with crew and equipment, at the disposal of the Time Charterer, for which the Time Charterer pays Hire Money. Subject to any restrictions in the Time Charter Party, the Time Charterer decides the type and quantity of cargo to be carried and the ports of loading and discharging. Time Charterer is responsible for supplying the ship with bunkers (fuel) and for the payment of cargo-handling operations, port charges, pilotage, towage and ship’s agency. The technical operation and navigation of the ship remain the responsibility of the Shipowner. A ship hired in this way is said to be on Time Charter.
TD or ΤDS or ΤDBC: Tween Decker or Tween Deck Ship or Tween Decker Bulk Carrier: Type of a Multi-Purpose Ship with a double deck. The holds of these ships are separated horizontally into two levels.
TEU: Twenty-foot Equivalent Unit: The 20-foot container or its equivalent. TEU is the common measurement unit of a ship’s carrying capacity in containers.
THERE4: Therefore: Consequently, thus.
Time Lost Waiting for Berth to Count as Loading or Discharging Time or as Laytime: As per Laytime Definitions 2013, term 26, the typical phrase “time lost waiting for Berth to count as loading or discharging time” or “as Laytime” means that: “if no loading or discharging Berth is available and the ship is unable to Tender Notice of Readiness (NOR) at the waiting place then any time lost to the ship shall count as if Laytime were running, or as time on Demurrage if Laytime has expired. Such time ceases to count once the Berth becomes available. When the ship reaches a place where she is able to Tender Notice of Readiness (NOR), Laytime or time on Demurrage resumes after such tender and, in respect of Laytime, on expiry of any Notice Time provided in the Charter Party.”
TIP: Taking Inward Pilot: Time Charter term for the delivery of the ship to the Time Charterer. The ship is deemed to have been delivered by the Shipowner to the Time Charterer once it has reached the agreed place of delivery and the pilot has embarked on board. The term TIP (Taking Inward Pilot) is advantageous for the Charterer, compared with the term APS (Arrival Pilot Station), because it implies that the Shipowner bears the risk and the expense of a delayed boarding of the pilot. It is therefore not enough for the Shipowner to deliver the ship at the pilot station, as it is the case under the term APS (Arrival Pilot Station. See also “APS”.
TKS: Thanks: Typical expression of gratitude.
TL: Total Loss: The ship’s loss.
TLX: Telex: An outdated way of exchanging business information.
Touching Soft Ground: See “Sitting Aground”.
TPC: Tonnes Per Centimetre Immersion: It shows the quantity in metric tonnes (e.g. of cargo or bunker) to be loaded on board to immerse the ship one further centimetre. This quantity varies not only ship by ship, but also according to the quantity already on board, the draught (draft) and the water density.
TPI: Tons Per Inch Immersion: Similar to TPC, but it shows the quantity in imperial long tons (e.g. of cargo or bunker) to be loaded on board to immerse the ship one further inch.
TS: Time Sheet: Statement, drawn up by the Ship Agent at the loading and discharging ports, which details the time worked in loading or discharging the cargo, together with the amount of laytime used. This latter figure, when compared with the time allowed in the Voyage Charter Party, is used by the Shipowner and Charterer to calculate Demurrage or Despatch, as the case may be.
TSΑ: Transpacific Stabilisation Agreement: It is a research and discussion forum of major ocean container shipping lines that serve the transpacific trade in both directions between Asia and the US. TSA member carriers are authorised under the applicable shipping laws of US and Asian governments to exchange market information, represent carrier interests in consultations with government regulatory bodies and with designated shipper organisations, develop voluntary, non-binding guide- lines for rates and charges, discuss ways members can manage costs and improve efficiency, establish common terms of service and standards for certain documentation, information systems development and other activities in the public interest, also on a voluntary, non-binding basis.
TTL: Total Commission: The total amount paid as commission by the Shipowner for the closing of a Charter. It usually includes the Commission payable to the Shipbroker known as Brokerage and the Address Commission (ADCOM) which is due to the Charterer by the Shipowner as a form of rebate granted by the latter under the Charter Party.
TTL/CGO: Total Cargo: The total quantity of cargo.
TA Round – Transatlantic Round Voyage.
Tariff – Schedule of charges such as the freight tariff of a shipping line.
TBA – To Be Advised.
TBN – To Be Nominated – Said in respect of a voyage for which a specific ship has yet to be designated by the shipowner.
TBMA – To Be Mutually Agreed
TEU – Twenty Foot Equivalent Unit – Unit of measurement equivalent to one 20 foot shipping container. Also used to quantify the container capacity/size of a ship.
Through Bill of Lading – Bill of Lading issued by a shipping line for a voyage requiring on-carriage, thus involving at least one transshipment.
Time Charter (TC) – The hiring of a ship from a shipowner for a period of time. Under this type of contract, the shipowner places his ship, with crew and equipment, at the disposal of the charterer, for which the charterer pays hire money. The charterer decides the type and quantity of cargo to be carried and the ports of loading and discharging and pays for all voyage related expenses (bunkers, cargo handling, port charges and services). The technical operation and navigation of the ship remain the responsibility of the shipowner.
Time Charterer – A person or company who hires a ship for a period of time.
Time Charterparty – A document containing the terms and conditions of a contract between a charterer and a shipowner for the hire of a ship for a period of time.
Time Lost Waiting for Berth to Count – A term indicating that laytime starts from the time the notice of readiness is given by the master, even though the vessel is held up because no berth is available.
Time Reversible – Overall calculations of laydays, in loading and discharging in a voyage charterparty.
Time Sheet (TS) – Statement, drawn up by the ship’s agent at the loading and discharging ports, which details the time worked in loading or discharging the cargo together with the amount of lay time used. Demurrage or dispatch, may be calculated.
Time to Begin on Arrival – Laytime is to count immediately on arrival at the port of loading or discharging irrespective whether a berth is available or not.
Ton Mile – Unit cargo ton/distance carried and covered.
TM – To Make
TPC – Tons per Centimeter – A quantity, for example of cargo or fuel, needed to immerse a ship one further centimeter.
TPD – Tons per Day – The quantity of cargo loaded or discharged each day.
TTL – Total
Turnaround Time – Time between a ship arriving in port and sailing.
Turn Time (TT) – Time during which a ship waits for a berth.
TW – Tween Decker

U

UCAE: Unforeseen Circumstances Always Excepted: An agreement will be materialised if it is not frustrated by abnormal events and conditions.
UK: United Kingdom: Ports in England, Wales, Scotland and North Ireland.
UKC: United Kingdom and/or Continent: Ports or places in the United Kingdom and/or Continent.
UK/Cont. (B.H.): United Kingdom and/or Continent (Bordeaux – Hamburg range): Selection of European ports among United Kingdom and Continent in Bordeaux – Hamburg range.
UK/Cont. (G.H.): United Kingdom and/or Continent (Gibraltar – Hamburg range): Selection of European ports among United Kingdom and Continent in Gibraltar – Hamburg range.
UK/Cont. (H.H.): United Kingdom and/or Continent (Havre – Hamburg range): Selection of European ports among United Kingdom and Continent in Havre – Hamburg range.
UKHH: United Kingdom or Havre or Hamburg: Selection of European ports.
ULCC: Ultra Large Crude Carrier: A huge crude oil tanker of over 320,000 DWT.

Unless Sooner Commenced: Unless Sooner Commenced means “if Turn-Time (TT) has not yet finished but loading or discharging begins, Laytime shall start” (Laytime Definitions 2013, term 20). Turn Time (TT) is the period granted in the Charter Party after Notice of Readiness (NOR) has been tendered but before Laytime begins. It is typically measured in hours. The 2013 commentary clarifies that while Definition 19 remains unchanged, Definition 20 allows Laytime to start earlier if operations commence before the official Laytime start.
Unless Sooner Commenced, in which case actual time used to count: “Unless sooner commenced in which case actual time used to count” means that “the actual time used during Turn-Time (TT) will count as Laytime” (Laytime Definitions 2013, term 21). The 2013 commentary explains that although Laytime still starts per Charter Party terms, any time actually used before that point will be deducted from Laytime.
USAC: United States Atlantic Coast: Synonym to “USEC”.
USEC: United States East Coast: It includes the ports of the East Coast of USA from Miami in the south to Calais in the north, including Chesapeake bay, Delaware bay, Delaware river up to Philadelphia and including Hudson River up to Albany. Synonym: USAC (United States Atlantic Coast).
USGC: US Gulf Coast: It includes the ports of the United States located in the Gulf of Mexico, from Key West in the east to Brownsville in the west. It also includes Mississippi River up to Baton Rouge.
USNH: United States North of Cape Hatteras: It includes the area from Cape Hatteras in the south to Calais in the north. It also includes Chesapeake Bay, Delaware bay, Delaware river not north from Philadelphia, as well as Hudson River not north from Albany.
USNOPAC: United States North Pacific Coast: It includes the US ports located in North Pacific Coast, from Seattle in the north to Brookings in the south. It includes rivers Columbia and Willamette, as well as Puget Sound Bay.
USPAC: United States Pacific Coast: It includes US ports bordering the Pacific ocean. The region is outlined from Seattle in the north and San Diego in the south. It also includes the bay of San Francisco, the Columbia and Willamette rivers and the Puget Sound Bay.
USSH: United States South of Cape Hatteras: It describes the area south from Cape Hatteras.
USWC: United States West Coast: The term “West Coast” or “Pacific Coast” is used for ports or places situated at the westernmost coastal states of the US.
UU: Unless Used: Unless Used (UU) signifies that “if Laytime has already started but loading or discharging occurs during excepted periods, then the actual time used counts as Laytime” (Laytime Definitions 2013, term 22). The commentary confirms that “time used during excepted periods counts against Laytime.”
UWRS: Underwriters: Insurers.
UBC – Universal Bulk Carrier.
UCE – Unforeseen Circumstances Excepted including MEBD (Main Engine Breakdown).
UCS – Unless Commenced Sooner
Unclean Bill of Lading – Dirty Bill of Lading.
UU – Unless Used – Charterparty term which provides that a proportion normally all or half, of time used to load or discharge, as the case may be, during excepted periods counts for the purpose of calculating total time used.
UUIUATUTC – Unless Used If Used Actual Time Used To Count
USTR: United States Trade Representative

V

Vessel being in Free Pratique: According to Laytime Definitions 2013, Free Pratique now solely pertains to compliance with Port Health requirements, indicating that these definitions do not directly affect the concept of Ship’s Readiness. The new definitions avoid elaborating on Free Pratique and Custom Formalities, acknowledging the significant variations across different states. These clauses and definitions typically come into play when a Berth is unavailable in a Berth Charter. When a Berth is available, Notice of Readiness (NOR) is usually issued once the ship is at the Berth.
VLCC: Very Large Crude Carrier: A very big crude oil tanker with a capacity typically ranging between 200,000–320,000 DWT.

VLGC: Very Large Gas Carrier: A very big gas carrier with a cargo capacity of over 70,000 CBM.
VLOO: Very Large Ore Oiler: A combined transport big ship able to ship either iron ore or oil with a carrying capacity of more than 200,000 DWT.

VLPC: Very Large Product Carrier: A big product tanker with carrying capacity of over 80,000 DWT.
VPD: Charter Party term which specifies that Shipowners will pay for all dues charged for the ship. Opposite term: “CPD”.
VSL: Vessel: An abbreviation for the ship.
VC – Voyage Charter – Contract of carriage in which the charterer pays for the use of a ship’s cargo space for one, or sometimes more than one, voyage.
VPD – Vessel Pays Dues
Voyage Charterparty – Document containing the terms and conditions of a voyage charter.
Voyage Estimate – Calculation of the financial viability of a prospective voyage.

W

Waiver: When someone is voluntarily relinquished from his rights and privileges. The waiver of a right may be an Express Waiver or an Implied Waiver.
W.C.: West Coast: General geographical description.
WCCA: West Coast Central America: It includes Pacific ports located on the West Coast of Central America and specifically in the countries Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama. The Panama Canal is also included.
WCCON: Whether Customs Cleared Or Not or Vessel Having Been Entered at the Custom House Or Not: The term means that the ship does not have to wait for com-pletion of the custom formalities to give Notice of Readiness (NOR). However, any time lost due to a delay in this process will not count as Laytime. If no Berth is available, the ship may issue NOR Whether In Free Pratique Or Not (WIFPON) and/or Whether Customs Cleared Or Not (WCCON), rendering such formalities irrelevant to the tendering of a Valid Notice of Readiness (NOR) while a Berth is unavailable. Generally, with a WIFPON or WCCON qualification, formalities do not impact the ship’s Readiness or the start of Laytime, which will commence as per the Charter Party, even though – and as long as – a Berth remains unavailable.
WCNA: West Coast North America: It is meant to describe a contiguous region of North America bordering the Pacific Ocean, including the respective US states, parts of Canada, parts of Mexico, parts of the Central American countries of Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama, as well as the eastern islands of the Pacific Ocean off the west coast.
WCSA: West Coast South America: It includes Pacific ports located on the West Coast of South America, from Turbo in the north to Punta Arenas in the south.
WD: Working Day: (A day when work is normally carried out as per local law or practice (Laytime Definitions 2013, term 11). It is advised that the Charter Party clearly defines which days are considered Working Days and which are Holidays at each Port. Clarification of local laws and practices is essential to prevent misunderstandings. Days excluded from Laytime should be explicitly stated in the Charter Party.
Wear and Tear: The physical damage of an object or equip- ment, which inevitably results from the passage of time and/or the use of the article.
Weather Permitting: This term is synonymous with Weather Working Day of 24 Consecutive Hours, ensuring consistent interpretation (Laytime Definitions 2013, term 18).
Weather Working Day of 24 Hours: Weather Working Day of 24 hours: A 24-hour period consisting of one or more Working Days during which cargo operations can proceed uninterrupted by weather. Any stoppage time is excluded from Laytime (Laytime Definitions 2013, term 17).
Weather Working Day of 24 Consecutive Hours: Weather Working Day (WWD) or Weather Working Day of 24 hours or weather working day of 24 consecutive hours: Defined as a working day of 24 consecutive hours, excluding any time when weather prevents loading or discharging of the ship or would have prevented it, had work been in progress (VOYLAYRULES 1993, Term 12). This is a day when work is typically done at a port, and it counts as Laytime unless halted by Bad Weather. For instance, if a ship is waiting for an available Berth and Bad Weather would have stopped loading/discharging, that interruption time does not count as Laytime. This term is less favorable from the Shipowner’s perspective compared to Weather Permitting (WP).
West Coast Africa: It includes ports on the West Coast of Africa, from Dakar in the north to Douala in the south.

West Coast India: It includes the ports of the West Coast of India, from Kandla in the north to Cape Comorin in the south.
West Indies: It includes ports located in Cuba, Bahamas and the islands Great Inagua, Turks and Caicos. It is an area in the Caribbean Sea which should not be confused with India.
West Med: West Mediterranean (WMED): It includes the Western Mediterranean region, outlined from the Straits of Gibraltar in the west to Cape Passero (Sicily) in the east. The dividing notional line in the west joins Gibraltar to Ceuta, while in the east it joins Cape Passero to Misurata (Libya). Thus, North and Southwest coast of Sicily are included in the Western Mediterranean Sea.
WHD: Per Working Hatch Per Day or Per Workable Hatch Per Day: Laytime Calculation can become more complex when tied to the number of Workable Hatches or Hatches, a method used less frequently and mostly in specific regions. A Cargo Hatch is the deck opening used to load or unload cargo into or from the cargo holds. The term Per Workable Hatch Per Day generally benefits Charterers more than Shipowners. A Hatch is Workable if there is cargo in the hold beneath it. If the corresponding hold is empty or remains unused, the Hatch is not considered Workable. Therefore, Workability relates to the cargo below and not to whether the ship has equipment such as cranes or derricks above the Hatch. Alternatively, Per Hatch Per Day may be used for Laytime calculations, based on the number of cargo hatches on the ship. Even if a Hatch lies over an unused compartment, it still qualifies as a Hatch, though not necessarily as a Working Hatch. The type and number of hatches will affect cargo-handling rates and thereby influence Laytime Calculation. However, this approach overlooks the fact that different hatches and holds may be worked at varying speeds. It also fails to account for multiple hatches serving a single cargo hold. Variations in handling rates may be due to different Cargo Hold sizes, Stevedore Gangs, equipment types, or even safety and stability plans that dictate the cargo handling sequence.
WIBON: Whether In Berth Or Not or Berth Or No Berth: Whether in Berth or Not (WIBON) or “Berth or no Berth” means that if the designated loading or discharging Berth isn’t available upon arrival, the ship, upon reaching any usual waiting place at the Port, is entitled to Tender Notice of Readiness (NOR) from it and Laytime commences per the Charter Party. The official commentary clarifies that this term addresses delays caused by congestion, not weather-related issues. A significant change from VOYLAYRULES 1993 is that Laytime or Demurrage continues once a Berth becomes available and does not pause until the ship reaches the Berth, shifting the risk back to align with the Charter Party’s stipulations. The WIBON Clause is akin to the Time Lost Clause but is specifically relevant in Berth Charter Parties where the ship arrives and no Berth is available, effectively transitioning the agreement into a Port Charter Party, allowing the ship to become an Arrived Ship and starting the Laytime clock sooner.
WIFPON: Whether In Free Pratique Or Not or Vessel Being In Free Pratique Or Not: The term means that the ship does not have to wait for the completion of the pratique to give Notice Of Readiness (NOR). However, any time lost due to a delay in this process will not count as Laytime. If no Berth is available, the ship may issue NOR Whether In Free Pratique Or Not (WIFPON) and/or Whether Customs Cleared Or Not (WCCON), rendering such formalities irrelevant to the tendering of a Valid Notice of Readiness (NOR) while a Berth is unavailable. Generally, with a WIFPON or WCCON qualification, formalities do not impact the ship’s Readiness or the start of Laytime, which will commence as per the Charter Party, even though – and as long as – a Berth remains unavailable.
WIPON: Whether In Port Or Not: shall mean that “if the designated loading or discharging Berth and the usual waiting place at the Port are unavailable upon arrival, the ship is entitled to Tender Notice of Readiness (NOR) from any recognized waiting place off the Port and Laytime shall commence in accordance with the Charter Party.” This new term allows the Shipowner to issue Notice of Readiness (NOR) from any recognized waiting area off the Port if the usual waiting place is unreachable. This has a similar meaning and effect to the WIBON Clause. Under this provision, it is unnecessary for the ship to be within Port Limits for Laytime to begin. The Shipowner can issue a Valid Notice of Readiness (NOR) to load as soon as the ship arrives outside the Port, anchored at a location where similar ships typically wait for a Berth. Like WIBON, it applies only in situations where a Berth is unavailable due to Port Congestion.

Without Prejudice (WP) to my rights: Reserving all my rights. Term that can be used in negotiations to ensure that an act, a fact or an omission does not affect one’s rights. It is a term denoting that someone preserves his rights, not Waiving Them (Waiver = one’s act of voluntarily withdrawing from his rights).
WOG: Without Guarantee: Term denoting that information provided is not absolute and binding, e.g. the ship’s speed when negotiating a Time Charter.
(Working Day) Weather Permitting: This term is synonymous with Weather Working Day of 24 Consecutive Hours, ensuring consistent interpretation (Laytime Definitions 2013, Term 18). “Weather Working Day of 24 Consecutive Hours,” states that “the actual duration of an interruption for Bad Weather at any time on a working day, during or outside normal working hours and including periods on turn, is added to the end of Laytime.” This means that Weather Stoppages, regardless of when they occur within the 24-hour period, are fully deducted from Laytime. So, unlike Definition 15, this provision includes both within and outside normal working hours.
WS: Worldscale: It is a complicated Freight scale typically used as a basis for the expression and negotiation of spot tanker rates. In Tanker Charter Parties, the duration of Laytime is often defined by Worldscale Hours Terms and Conditions (WSHTC or WHTC). When such terms are included, Laytime is calculated based on the latest edition of Worldscale (WS). This guide, often referred to as the “commercial handbook” for tanker chartering professionals, is released annually by Worldscale Association (London) Limited and Worldscale Association (NYC) Inc. The 2015 edition of Worldscale (WS) states in preamble, part B.2 “Laytime”:
WSHTC or WHTC: Worldscale Hours Terms and Conditions: The phrase is typically used to provide that a tanker spot charter should comply with the hours, terms and conditions described in the current version of the Worldscale (WS). In Tanker Charter Parties, the duration of Laytime is often defined by Worldscale Hours Terms and Conditions (WSHTC or WHTC). When such terms are included, Laytime is calculated based on the latest edition of Worldscale (WS).
WWD: Weather Working Day: A Working Day or part thereof during which cargo operations can proceed without weather interruptions. If work is stopped due to weather, the stopped duration proportional to a 24-hour period is added to the end of Laytime (Laytime Definitions 2013, terms 15 and 16).

W/WO or W/O: With/Without: Having/Not having.
WWR – WW Ready: When Where Ready: It refers to the determination of the time and place of redelivery of the ship by the Charterer to the Shipowner.
War Clause – Clause giving the right to a ship’s master not to put his ship or crew at risk.
WCCON – Whether Customs Cleared Or Not
WIBON – Whether in Berth or Not – Provision in a voyage charter that, once the ship has arrived at the port and tendered notice of readiness, if required, laytime will start to count in accordance with the charterparty whether or not the ship has reached the berth.
WIFPON – Whether In Free Pratique or Not
Withdrawal – To remove control of a ship from the time charterer for the remaining period of the charter when there has been serious breach of contract, such as failure to pay hire.
WLTHC – Water Line To Top of Hatch Coaming
WLHC – Water Line To Top of Hatch Coaming
WOG – Without Guarantee
Workable Crane – Term in a voyage charger which determines the number of days allowed for loading and I or discharging by the number of cranes available for use by the charterers for operations. Generally expressed in tons per workable crane per day.
Workable Hatch – Term in a voyage charter which determines the number of days allowed for loading and/or discharging by dividing the quantity of cargo in the largest hatch by the quantity per workable hatch per day as stipulated in the charterparty.
Working Day of 24 Consecutive Hours – Working day equates to one layday.
Working Day of 24 Hours – Period of time which contains 24 normal working hours. If it is the custom of a port that eight hours represents the normal working time per day, then a working day of 24 hours would be considered as three laydays.
Working Day – When normal working is carried out in a port.
WP – Weather Permitting – Laytime does not count when weather conditions do not allow loading or discharging operations to be carried out.
WTS – Working Time Saved
WWD – Weather Working Day – Days on which work is normally carried out at a port which counts as lay time unless loading or discharging would have ceased because of bad weather.
WWR – When Where Ready – Frequently used provision in a time charter to determine the time and place of delivery! redelivery of a ship by the charterer to the shipowner. This term is qualified in such a way as to make the time and place unambiguous. such as on completion of discharge at a named port, abbreviated to WWRCD followed by the name of the port.
WWRCD – When Where Ready on Completion of Discharge
WWR – When Where Ready
WWWW – WIBON, WCCON, WIFPON, WIPON

Y

YAR: York-Antwerp Rules: The international rules which constitute the legal framework for the settlement (adjustment) of General Average (GA).
YAR – York Antwerp Rules

Chartering Terms Abbreviations

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