Chartering TermsRSS

Chartering Terms

F

Fox trot. F = signal letter and flag. Morse = ( . . - . ) Flag= Red diamond on white background.When hoisted singly from a ship it means "I am disabled. Communicate with me." ( Kerchove)

FAS

Free Alongside Ship Free Alongside Ship means that the seller delivers when the goods are placed alongside the vessel at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that mom ...

FCA

Free Carrier. A modern equivalent of FAS used in intermodal transport where goods are transferred at a nominated forwarders premises, depot or terminal but not actually on board vessel. Free Carrier Free Carrier means that the seller delivers the good ...

An offer which is not conditional in any way.

When the terms and conditions of a charter party have been agreed, except few minor details.

Dispensation, given by a country which reserves the carriage of goods to ships of its own national fleet.

Lowest temperature at which a product gives off an inflammable gas when mixed with air.

(See FRENCH-FAKE.)

Cost of a product before transportation costs are figured in Free on Board Free on Board means that the seller delivers when the goods pass the ship’s rail at the named port of shipment. This means that the buyer has to bear all costs and risks of loss ...

Amount paid to a shipowner for the carriage of cargo.

Freight payable at destination.

Arranges shipments for customers usually break bulk. Does not actually carry the cargo or conduct business for the ship.

The charge made for the transportation of freight.

Charterers when cancelling agreement sometimes quote 'doctrine of frustration' i.e. vessel is lost, extensive delays.

G

Golf - G = signal letter and flag. Morse = ( - - . )Flag= Six yellow and blue vertical bars.When hoisted singly from a ship it means "I require a pilot." . Still widely used.

A term used to describe the vessel which must yield in meeting, crossing, or overtaking situations.

H

Hotel - H = signal letter and flag. Morse = ( . . . . )Flag= Vertically divided in two : white at the hoist, red at the fly.When hoisted singly from a ship it means "I have a pilot on board." . Still widely used.

Rules governing the carriage of goods identifying the rights and responsibilities of carriers and owners of cargo.

Term in a c/p stipulating that despatch money (amount payable by shipowner to charterers/shippers or receivers)for loading or discharging in less than the time allowed in the C/P, is to be calculated at half of the agreed rate of demurrage.

I

India - I = signal letter and flag. Morse = ( . . )Flag= Black disk on yellow ground.When hoisted singly from a ship it means "I am altering my course to port." (Kerchove)