| Aframax | Tankers up to 120 000 deadweight tonnes, designed for the entry into North American Atlantic ports, with a maximum load. Afra = American Freight Rate Association. |
| Agent | Representatives in a port, for example, a shipping line. |
| AHT | Ancor handling Tug, special shiptype for handling ancors |
| AHTS | Ancor handling tug & supply ship |
| Bareboat charters | The owner leases the vessel without a crew often over a long period. The charterer pays the operating expenses while bareboat rent paid to the owner with a fixed amount every month. |
| Bilateral agreement | Agreement between the two governments. |
| Bill of Lading (Bill of Lading) | Bill of Lading (Bill of Lading). Shipping Agreements that are “negotiable”, ie. it is a valuable document that you can sell the lot of cargo. |
| Brokers | See Shipbrokers. |
| Bulk | Unpacked cargo such as coal, ore and grain. |
| Bunker | The reference to the ship’s fuel, that is, the oil used in the ship’s machinery. Taking on board of bunkers known as bunkering. |
| C & F (Cost and Freight) | The seller pays cost and freight for the goods at the destination. The buyer assumes the risk from the port of shipment. |
| Cabotage | The right to operate transport services within the country. |
| CAP | Condition Assessment Programme – a quality rating program for tankers. |
| Capesize | Bulk of the order of 100 000-150 000 tons deadweight. |
| Capital intensity | A ship with relatively high capital costs. |
| Cargo Contract (Contract of Affreightment) | The owner agrees to transport a specified quantity of cargo between the agreed destinations over a given period. Often stipulated how long the interval should be between each trip and the maximum size of ship. |
| Carriers | The owners of carrier. |
| Charterparty | Freight Agreement, which contains all the clauses, which defines the terms of shipments. |
| CGT (Compensated Gross Tonnage) | Calculated term that is used to make ship of different types comparable at a yard. |
| CIF | Business Term in the enclosing obligation for the seller to acquire vessels or to book space for the transfer of goods to the buyer designated port, that ensures that the cargo will be on board the ship, insure adequate load and pay the freight either in advance or by crediting the invoice. Who pays for loading and discharging costs is a matter for negotiation, the results reported in the charter contract. |
| Classification society | Independent organization, which controls ship safety and quality of both its own national government regulations. |
| Clause | Provision in the contract. |
| Clearance | Securing of various formalities and the payment of port charges, customs etc in connection with a vessel bound for or leaving a port. Clear ring managed by the agent employed by the shipping company’s representative in the port. |
| COFR, Certificate of Financial Responsibility | Certificates required for visits to U.S. ports to indicate that the Company has accepted guarantees of financial resources at the oil spill. |
| Combination carrier | Vessels can be used both as tank and bulk carriers. |
| Commissioners | The estate agent’s fee – often 1.25 percent of gross freight. On purchase / sale is often one percent of the purchase price. |
| Conference | All the shipping lines operating on the same tree. Within the conference regulated service supply, freight rates etc.. |
| Consecutive trips | A certain number of single journeys in a sequence can be performed under contracts with shippers. |
| Consortium | Financial and traffic wise merger of companies, to solve a transportation task. |
| Cross Trader | See Third flag carrier. |
| Box-Ship | Another term for container ship |
| Daily cost | Remaining cost after deduction of capital costs and travel expenses. Time costs refer, inter alia, technical operations, staffing, administrative expenses and the insurance costs can be attributed to the ship. |
| Dead Freight | Compensation to the carrier for the difference between contracted and actual freight volume. |
| Dead weight | The weight of the cargo, bunker and movable equipment, the ship carrying capacity. |
| Delivered at Frontier | The seller is responsible for transport of goods to the “customs border” of the country mentioned in the purchase agreement. |
| Delivered Duty Paid | The seller is responsible for transportation to the buyer’s factory or establishment. |
| Demurrage | Compensation, which shall be paid by the shipper, the shipper or recipient per day or pro rata for the extra duration of the call of the cargo and / or remove the port beyond what is stipulated in the shipping contract. |
| Depreciation | The accounting deductions, which are made in a company’s financial statements to compensate for wear and aging on the company’s ships, houses, tools, machinery, etc. |
| Dispatch | The remedy, which the Company pays to the charterer, shipper or recipient per day or pro rata for the time saved in loading and / or remove the port compared with what is stipulated in shipping contracts. |
| Displacement | There are two different displacement: easy and complete. Light displacement (light displacement tonnage, LDT) or just displacement is the ship’s own weight in metric tonnes, that is the bay of all the steel in ship construction. Is most interesting when a ship is going to sell as scrap. The full displacement (displacement tonnage) in metric tons is the ship’s weight plus the weight of supplies on board, cargo and the weight of the crew and any suit Gere. The full deplacemetet refers to the fact the water squeezed out of the ship. Often used to describe the size of warships. |
| Dry Docking | Dry docking of vessels at the shipyard for overhaul and repair. |
| DWT (Dead Weight tonnage) | Is messure of the ships toalt cargo capacity when fully loaded to the plimsoll marking. |
| ECDIS, Electronic Chart Display System | Electronic Chart Display System. Systems of vector digital charts. |
| European Council | EU’s supreme body. |
| Evergreen-based | An agreement referred to renewed after a fixed period and rent is recalculated. |
| Ex Quay | The seller bears the costs and risks to the quayside in the port of destination. |
| Ex Ship | The seller bears the costs and risks until the ship enters the port of destination. |
| Ex Works | Goods are collected from the seller. The buyer pays all costs and risks for the shipment. |
| Fast Ship | High-speed, semi-planing enskrovsfartyg. |
| Fat | Unit of trading in oil. A barrel is equivalent to about 159 liters and it is about 7.1 barrels in a ton of oil. |
| FIO | Free in and out means that the cargo is and remove it within group from the ship at no cost for shipping. Any trimming or stowage of cargo as well as off-port paid contrast of the vessel. |
| FIOS | The load freely in and out and stowed. |
| FIOT | The load supplied by the shipper / charterer free on board the ship and pull it in off the port free from the vessel during fiot charterer pays all the required trimming. |
| Flag Discrimination | National law, which reserves the right to water transportation for all or part of its own merchant fleet. |
| Flags of convenience (Flag of Convenience) | Country under the ITF (International Transport Workers Federation) authorize the registration of foreign vessels without limit and failing to exercise security and social control over the nation’s commercial fleet. |
| FOB | Free on board means that the goods supplied free on board the vessel encloses not cost any trimming or stew. |
| FOC | See flag of convenience. |
| Free Alongside Ship | The seller provides the goods in shipping port, the ship’s side or in the grandstand. The buyer pays all costs when the goods are delivered. |
| Free Carrier (named point) | An alternative to Fob. Seller leaving the goods to the carrier at the contractual destination. The risk is transferred from seller to buyer at the above location. |
| Freight or Carriage Paid to | The seller pays cost and freight for the goods but the risk passes to the buyer when the goods are supplied to the first carrier. |
| Freight or Carriage Paid to Including insurance quotes | “Freight or Carriage Paid to ‘but the seller also pays the insurance. |
| Freight tariffs | List of freight a shipping line charges for different kinds of goods at different distances. |
| FPSO | Floating production storage and offloading, a ship designed to drill, process, store & and offload oil from wells at sea. |
| Fusion | Merger of two or more lines. |
| Gantry | Bock Crane horizontal cantilevers in which there is an executable lifting arrangements. The crane is working on two levels and is particularly suited where more precision is required. |
| GDP | The total value of goods and services produced in a country over a year. |
| General cargo | Goods are shipped in small lots such as boxes, cartons, bags, bales, etc. directly into the vessel or loaded together in containers or on other carriers. |
| GMDSS, Global Maritime Distress and Safety System | International system for emargency communication through satellite and country lane. |
| GNP | Gross national income. GDP plus factor income (wages, capital and entrepreneurial income) from abroad minus factor income abroad. |
| GRT, Gross Register Tons | GRT, Gross Register Tons. Gt. |
| Handysize | Bulk of 20000-50000 tonnes deadweight. |
| Hovercraft | Ships, which goes up just above the water resting on a cushion of air, generated by powerful fans. |
| HSC (High Speed Craft) | A definition of high speed craft adopted by the IMO, with speed and size variables. |
| HSS (High Speed Sea Service) | Ferry Concept with large catamarans with a capacity of 1500 passengers and 375 cars or 50 trucks and 100 cars. |
| Hydrofoil | Boat with hydrofoils, which means that almost all of the hull rises out of the water at speed. |
| Innocent-owner insurance | Insurance that protects the owner against defaults by bareboatbefraktarens page on insurance matters. |
| Intergovernmentalism | Cooperation of States in which the individual nations retain their national characteristics. |
| Intermodal | Coordination of movements of such containers for a variety of means of transport by ship, car, rail, etc. |
| Joint owner | Co-owner of a vessel, owned in a company form similar to the limited partnership. Joint owner can be an individual or a corporation. In the maritime case that the listed companies are joint owner. One of the party shipowners appointed as principal owner. |
| Joint Service | Joint service usually with common timetables. Each did its share of traffic but a lot of cooperation with the others in the group detail lines. |
| Kasko | Reda’s primary insurance policy covering the ship. |
| Km | A performance measure that involves the transport of one tonne of a kilometer. |
| Knots | Measure of the speed of the vessel. One knot = one nautical mile per hour, ie: 1.85 km / hr. |
| Lash | Short for Lighter Aboard Ship. A system where a large mother ships carrying barges, which can be loaded, transported and launched from mother ships. |
| LIBOR | London Inter Bank Offered Rate. |
| Lift on lift off (lolo) | Loading with the help of cranes and other lifting equipment. Containers are placed in such vessels for tires in a vertical gejdersystem (rails that hold the boxes in place). |
| Lighterage | Transfer of cargo between two ships at sea. |
| Liner terms | The conditions under which the liner is carrying goods with the shipping company is responsible for all loading and unloading costs, ship hamnumgälder etc.. |
| CNG | Compressed natural gas |
| LNG (Liquefied Natural Gas) | Liquid natural gas transported cooled to -163 ° C. |
| LOF, Lloyd’s Open Form | Standardized salvage contract. The latest version called LOF-95 takes into account the provisions of the International Convention of Salvage. |
| LPG (Liquefied Petroleum Gas) | Liquid petroleum gas is transported under pressure and / or cooled. |
| Lying Days | The time charterer under the Contract are entitled to use the boat for loading and unloading. |
| M / S | Motor Ship. |
| M / T | Motor Tanker. |
| M / V | Motor Vessel. |
| Maastricht Treaty | Treaty establishing an economic and political union, European Union, the European countries which entered into force on 1 / 11 1993rd |
| Manifesto | A document containing a complete list of the cargo of a ship. |
| MARPOL | International Convention for the Prevention of Pollution from Ships. IMO Convention on emission limits from ships. |
| MPCC (Mulit Purpose Container Carrier) | Container freighter that has the capablility to carry other goods as well. |
| Nautical miles (nautical mil) | 1852 meters. |
| OBO-ship (Oil, Bulk, Ore) | See the combination carriers. |
| Off Hire | Time to time chartered vessels are decommissioned unable for reasons that the vessel is temporarily not in prime condition. During the Off Hire, no time hiring (shipping fee). Reason for Off Hire For example, be classification, hull painting, repairs, etc. |
| One-way | Occasional travel as a tramp ship carries the load. |
| Open vessels | A vessel in which the door openings to the holds stretching practically from ship side to side of the ship with no horizontal movement of the load down in the holds do not require to be done. |
| Operating expenses | All costs that are attributable directly to the ship, such as costs for crew, technical operation, insurance, maintenance and repair. |
| Operator | It currently uses the ship (which need not be the owner because he can rent out their ships). |
| OSV | Offshore supply vessel |
| Outsider | Company that operates outside of and in competition with the conferences by the bid conference rates. |
| Panamax | Vessels that meet at least one of the following criteria, width 106 ft (30.5 m), length 965 feet (294.1 meters) deep or 39.5 feet (12.04 meters).Panamax is also a term for the bulk of 50000-80000 tons dw. Approximately 80,000 tons dw is the maximum size for a fully loaded vessel to cross the Panama Canal, hence the name “panmax”. |
| Pax | Abbreviation of words maximum number of passengers. |
| Pool | Cooperation under contractual arrangements between a number of shipping companies. |
| Pooling | Distribution of cargo or freight of a certain formula. Within the conference there are pools that are intended to prevent unnecessary competition. Within joint service groups like are often pools to the participating companies must obtain a fairer distribution of the joint effort. |
| Postpanamax | Designation of a new generation of container ships, and now even cruise ships, whose dimensions are too large to pass through the Panama Canal. |
| Pre-cooling | Cooling of the cargo bay to the given temperature for a certain period before loading. |
| Product tanker | Ships carrying refined products. |
| Protection and Indemnity P & I or Pandi | Insurance for shipping liability to third parties. |
| Protectionism | State protection during which their merchant relieved of some element of competition. |
| PSV | Platfrom supply vessel |
| Pulp-temperature | The temperature is measured inside a particular product such as a bovine body or a fruit. |
| Redd | In particular designated area where vessels may anchor in connection to a port, river, canal or similar. |
| Roll on Roll off (RoRo) | Loading and unloading cargo service operated by the board through one or more ramps in the ship ändskepp or pages. The various ship the tires were linked by ramps. |
| SAR, Search and Rescue | Organization and Operation in search and rescue. |
| SBT, Segregated Ballast Tanks | Tanks in the tankers that are only used for ballast. |
| Secondary Hand | Buying and selling market for used vessels. |
| Shelterdeck | Deck, perched above the ship’s main deck and not included in the gross registered tonnage. Shelterdeck was originally intended as a protection against wind and sea and was not as strong as the hull in general. Over time, this definition of clever designers watered down. A vessel with a closed shelter deck is built so that by some luck or events can use upper or lower deck of the main deck. Load line mark the location is calculated from the main deck. |
| Shipbrokers | Independent agents who provide goods and / or space ships and the purchase and sale of vessels. |
| Shippers | Exporters, cargo owners, ship off, charterers. |
| Shippers | Are either a cargo owner or the charterer. Shippers are also professional designation of the shipping company official at the brokerage, which deals with doing business on the freight market. |
| Shipping Rate | The agreed upon freight on a per tonne of cargo per cubic meter or tonne dw and months. |
| Sidport | Port-like gap in the vessel through which the loading and unloading can be done either through the embarkation or from a truck to a board truck. |
| Single buoy mooring | Buoy where tankers can be on the sway and load or unload their cargo through the pipeline, which is connected to the buoy. |
| Single Decker | Single deck vessel. |
| Single European Act | Treaty of 1986 which include changing decision forms so that decisions regarding the EU’s internal market would be taken by qualified majority instead of unanimously. |
| SOLAS Convention | International Convention for the Safety of Life at Sea. IMO regulations concerning particular ship safe construction and equipment. |
| Spot market | Shipping Market where ships reached first for single trips. |
| SSS, Short Sea Shipping | Maritime Trade between the EU countries. |
| Staff Intensive | Ships with a relatively high staff costs. |
| STCW Convention | International Convention on Standards of Training, Certification and Watch Keeping for Seafarers. IMO’s regulatory framework for the training and qualifications of seafarers and the rules for keeping a ship. |
| Suezmax | Tankers of about 150,000 tons dw. Approximately 150,000 tons dw is the maximum size for a fully loaded vessel to cross the Suez Canal, hence the name “Suezmax”. |
| TEU | Twenty Foot Equivalent Unit |
| T / T | Turbine Tanker. |
| Tainting | Damage to Kyller caused by odors from other loads. Among the goods that are easily damaged in this way include dairy products and fruit. |
| The principle of subsidiarity | Decisions within the EU will be the “lowest effective level” in the organization ie. a question must first be decided at national level if the purpose is not better achieved at EU level. |
| Third flag carrier (cross trades) | Company that transports freight between foreign ports. |
| Time charter (time charter) | Ship owners rent out their ships complete and crewed for a payment based on a certain sum per day or a certain sum per ton dw and months. The charterer pays for bunker fuel and port fees. |
| Tonnage | A vessel’s tonnage is a place without comparative figures for the ship’s size calculated according to the 1969 International Tonnage Measurement Convention. The gross tonnage of the vessel size and based on the ship’s total enclosed space while the net tonnage is dependent on the volume of the vessel’s hold, number of passengers and ship’s draft in relation to the molded depth. The gross tonnage becomes GT (gross tonnage). although the term UR (Universal Rules) is used to show that the vessel is measured by the latest regulations. |
| TOVALOP | Tanker Owners’ Voluntary Agreement Concerning Liability for Oil Pollution. The world tanker voluntary agreement on financial compensation for oil pollution. |
| Tramp Market | The portion of the shipping market where rents vessels for single voyage. Another word for tramp market is the spot market. |
| Travel expenses | Costs directly related to the current trip, such as bunkers, port charges, etc. |
| Treaty of Rome | Treaty of 1957 establishing the European Economic Community EEC, later the EC. |
| ULCC | “Ultra Large Crude Carrier” – tankers of 350,000 tons. |
| Unitisering / unit loading | Assembly of small packages to large cargo units to facilitate these operations. Such large cargo units can be built up on pallets, load space, etc. |
| VLCC | “Very Large Crude Carrier” – tankers of 200,000 tons. |
| WTIV | Wind turbine installation vessel |
| World Scale (WAS) | An international freight index system for tankers. When tankers are contracted for a cargo shipping is almost always expressed as a percentage of the World Scale Index. |
| VTS | Vessel Traffic System. System for monitoring maritime traffic. |
Terms & Abbreviations
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