Open Water

FOW: First Open Water: Refers to the earliest possible resumption of trade to an ice-bound port or area – e.g.: to load FOW Churchill, Hudson Bay. FP: Free of Pratique: The vessel has been approved by the port medical authorities as not having any sanitary disqualifications that would prevent her from proceeding to the berth and commencing operations. FWAD: Fresh Water Arrival Draft: See BWAD. Relevant to trading in freshwater areas, such as prevails in the Panama Canal. Gross Terms: Under which the carrier has to arrange and pay for cargo-handling, although laytime will probably apply. The opposite to Nett Terms. HAT: Highest Astronomic Tide: The opposite to Lowest Astronomic Tide – see Chart Datum. HWOST:       High Water on Ordinary Spring Tides: The opposite to Low Water on Ordinary Spring Tides – which see. IWL:             Institute Warranty Limits: Geographical limitations to permitted trading areas, drawn up and imposed by underwriters, and commonly applied throughout the maritime world. Owners wishing their ship to proceed outside these limits (e.g.: to the Great Lakes at any time of the year; or to the Northern Baltic Sea in winter) must usually obtain permission from their underwriters to ‘hold covered’ their vessel against payment of an additional premium.  LAT: Lowest Astronomic Tide: See Chart Datum. L/C:  Letter of Credit: Laydays/Cancelling: A spread of dates – e.g.: ‘Laydays 1st September/Cancelling 15th September’ between which dates a vessel is to present for loading. Too early and she will probably have to wait. Too late and she risks being cancelled by the charterers. LCL: Less than Full Container Load: Liner Terms: The responsibility and cost of loading, carrying and discharging cargo is that of the carrier, from the moment the goods are placed alongside the carrying vessel in readiness for loading, until discharged alongside at their destination. Time spent cargo-handling is also at the carrier’s risk.