[BOOK|MOBI] Chartering and Shipping Terms

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The daily rate of additional demurrage is agreed in the Charter-Party. Consignment Goods shipped to an overseas agent when an actual purchase has not been made, but when the consignee agrees to sell the goods.

The charterer obtains possession and full control of the vessel along with the legal and financial responsibility for it. Letter of Credit A conditional order in writing, issued by a buyer's bank, guaranteeing to pay the seller upon presentation of stipulated documents, strictly in accordance with the credit. Shipped Weight: Under 1 kilogram.

Chartering Shipping Terms - Certificate of Insurance A negotiable document indicating that insurance has been secured under an open policy to cover loss or damage to a shipment while in transit.

Bareboat Charter - Owners lease a specific ship and control its technical management and commercial operations only. Charterers take over all responsibility for the operation of the vessel and expenses for the duration. This is relevant to items such as Structural Steel, Handrails, Stairways etc. Whilst this is a very flexible description, a rule of thumb is to present cargo at a size easily handled by a large 20 tonne fork lift. A fee applied to the shipping costs to compensate for exchange rate fluctuations. Seller pays all these costs to a nominated port or place of discharge. Certificate of Origin - a signed statement from a semiofficial organization certifying the origin of an export item, required by certain nations. Penalty if cargo is not ready when ship arrives for working 1st day of Laycan. This is not detention which is charged for ships time on delay. The depth varies according to the design of the ship and will be greater or lesser depending not only on the weight of the ship and everything on board, but also on the density of the water in which the ship is lying. Weight of cargo, stores and water, i. It can contain cargo from multiple shippers, but normally is consigned to the same consignee. The shipment is expected to be delivered to the consignee with the shipper's seal intact. Seafreight with which the shipper pays load costs and the carrier pays for discharge costs. Used to describe an across-the-board tariff rate increase implemented by conference members and applied to base rates. The distance north or south of the equator measured and expressed in degrees. Percentage of cargo or passengers carries e. If loading completed sooner than expected, then saved days will not be added to discharge time allowed. When a ship is loaded, the water level is not supposed to go above the line. Water can reach different parts of the line as its temperature and saltiness varies with the season and location. From where Plimsoll Shipping derived its name. If loading completed sooner than expected at load port, then days saved can be added Chartering and Shipping Terms discharge operations. Also, the forward most part of the bow.