|
Demurrage
The term "demurrage" from Old French ''demeurage'', from ''demeurer'' – to linger, tarry – originated in vessel chartering and referred to the period when the charterer remained in possession of the vessel after the period normally allowed to load and unload cargo (laytime). By extension, demurrage refers to the charges that the charterer pays to the ship owner for its delayed operations of loading/unloading.Maritime Knowhow website: GENCON Clause 7 Officially, demurrage is a form of liquidated damages for breaching the laytime as it is stated in the governing contract (the charter party). The demurrage sometimes causes a loss to the seller as it increases cost of the total freight. The inverse of demurrage is despatch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Affreightment
Affreightment (from freight) is a legal term relating to shipping. A ''contract of affreightment'' is a contract between a '' ship-owner'' and a charterer, in which the ship-owner agrees to carry goods for the charterer in the ship, ''or'' to give the charterer the use of the whole or part of the ship's cargo-carrying space for the carriage of goods on a specified voyage or voyages or for a specified time. The charterer agrees to pay a specified price, called '' freight'', for the carriage of the goods or the use of the ship. A ship may be let, like a house, to a person who takes possession and control of it for a specified term. The person who hires a ship in this way occupies during the specified time the position of ship-owner. The contract under which a ship is so let may be called a charterparty—but it is not, properly speaking, a contract of affreightment, and is mentioned here only to clarify the distinction between a charter-party of this kind, which is sometimes ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chartering (shipping)
Chartering is an activity within the shipping industry whereby a shipowner hires out the use of their vessel to a charterer. The contract between the parties is called a charterparty (from the French ''"charte partie"'', or "parted document"). The three main types of charter are: demise charter, voyage charter, and time charter. The charterer In some cases a charterer may own cargo and employ a shipbroker to find a ship to deliver the cargo for a certain price, called freight rate. Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China), in Worldscale points (in case of oil tankers) or alternatively may be expressed in terms of a total sum - normally in U.S. dollars - per day for the agreed duration of the charter. A charterer may also be a party without a cargo who takes a vessel on charter for a specified period from the owner and then trades the ship to carry cargoes at a profit above the hire rate, or even makes a profit i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chartering (shipping)
Chartering is an activity within the shipping industry whereby a shipowner hires out the use of their vessel to a charterer. The contract between the parties is called a charterparty (from the French ''"charte partie"'', or "parted document"). The three main types of charter are: demise charter, voyage charter, and time charter. The charterer In some cases a charterer may own cargo and employ a shipbroker to find a ship to deliver the cargo for a certain price, called freight rate. Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China), in Worldscale points (in case of oil tankers) or alternatively may be expressed in terms of a total sum - normally in U.S. dollars - per day for the agreed duration of the charter. A charterer may also be a party without a cargo who takes a vessel on charter for a specified period from the owner and then trades the ship to carry cargoes at a profit above the hire rate, or even makes a profit i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ship Chartering
Chartering is an activity within the shipping industry whereby a shipowner hires out the use of their vessel to a charterer. The contract between the parties is called a charterparty (from the French ''"charte partie"'', or "parted document"). The three main types of charter are: demise charter, voyage charter, and time charter. The charterer In some cases a charterer may own cargo and employ a shipbroker to find a ship to deliver the cargo for a certain price, called freight rate. Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China), in Worldscale points (in case of oil tankers) or alternatively may be expressed in terms of a total sum - normally in U.S. dollars - per day for the agreed duration of the charter. A charterer may also be a party without a cargo who takes a vessel on charter for a specified period from the owner and then trades the ship to carry cargoes at a profit above the hire rate, or even makes a profit i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ship Chartering
Chartering is an activity within the shipping industry whereby a shipowner hires out the use of their vessel to a charterer. The contract between the parties is called a charterparty (from the French ''"charte partie"'', or "parted document"). The three main types of charter are: demise charter, voyage charter, and time charter. The charterer In some cases a charterer may own cargo and employ a shipbroker to find a ship to deliver the cargo for a certain price, called freight rate. Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China), in Worldscale points (in case of oil tankers) or alternatively may be expressed in terms of a total sum - normally in U.S. dollars - per day for the agreed duration of the charter. A charterer may also be a party without a cargo who takes a vessel on charter for a specified period from the owner and then trades the ship to carry cargoes at a profit above the hire rate, or even makes a profit i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charter Party
A charterparty (sometimes charter-party) is a maritime contract between a shipowner and a "charterer" for the hire of either a ship for the carriage of passengers or cargo, or a yacht for pleasure purposes. Charter party is a contract of carriage of goods in the case of employment of a (charter boat). It means that the charter party will clearly and unambiguously set out the rights and responsibilities of the ship owner and the charterers and any subsequent dispute between them will be settled in the court of law or any agreed forum with reference to the agreed terms and conditions as embodied in the charter party. The name "charterparty" is an anglicisation of the French ''charte partie'', or "split paper", i.e. a document written in duplicate so that each party retains half. Types of charterparty There are three main types of charterparty: time, voyage and demise and another. * In a demise (or bareboat) charter, the charterer takes responsibility for the crewing and mainte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Laytime
In commercial shipping, laytime is the amount of time allowed in a voyage charter for the loading and unloading of cargo. Under a voyage charter or time charter, the shipowner is responsible for operating the vessel, and the master and crew are the employees of the shipowner, not the charterer. However, once the vessel has "arrived" at a port the charterer then assumes responsibility for the loading and unloading of cargo, having a period of laytime in which to carry this out. (Note that the actual loading may be performed by a third-party stevedore). The moment when laytime commences is determined by a Notice of Readiness (or "NOR"), which the master or agent of the ship must give to the port when the ship has arrived at the port of loading or discharge. The charterparty contract determines the precise meaning of "arrival". Usually, "arrival" is when the ship has arrived at the port and is ready in all respects to load or discharge; but it may be, say, when the ship has passed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquidated Damages
Liquidated damages, also referred to as liquidated and ascertained damages (LADs), are damages whose amount the parties designate during the formation of a contract for the injured party to collect as compensation upon a specific breach (e.g., late performance). This is most applicable where the damages are intangible, such as a failure by the contractor on a public project to fulfill minority business subcontracting quotas. An average of the likely costs which may be incurred in dealing with a breach may be used. Authority for the proposition that averaging is the appropriate approach may be taken from the case of ''English Hop Growers v Dering'', 2 KB 174, CA (1928). When damages are not predetermined/assessed in advance, then the amount recoverable is said to be "at large" (to be agreed or determined by a court or tribunal in the event of breach). The purpose of a liquidated damages clause is to increase certainty and avoid the legal costs of determining actual damages later if ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Captain (nautical)
A sea captain, ship's captain, captain, master, or shipmaster, is a high-grade licensed mariner who holds ultimate command and responsibility of a merchant vessel.Aragon and Messner, 2001, p.3. The captain is responsible for the safe and efficient operation of the ship, including its seaworthiness, safety and security, cargo operations, navigation, crew management, and legal compliance, and for the persons and cargo on board. Duties and functions The captain ensures that the ship complies with local and international laws and complies also with company and flag state policies. The captain is ultimately responsible, under the law, for aspects of operation such as the safe navigation of the ship,Aragon and Messner, 2001, p.4. its cleanliness and seaworthiness,Aragon and Messner, 2001, p.5. safe handling of all cargo,Aragon and Messner, 2001, p.7. management of all personnel,Aragon and Messner, 2001, p.7-11. inventory of ship's cash and stores,Aragon and Messner, 2001, p.11-12. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statement Of Facts
Statement of Facts (SoF) is a report listing all events during a ship's stay in port in chronological order and is used for the calculation of the lay time. The Statement of Facts has usually a standardised form. It is written by the port agent or the shipmaster. It lists such things as the arrival and departure time and the time at the berth, the times in which cargo is loaded or unloaded, weather and other conditions that affect the cargo time, whether tugboats are used, etc. A frequently used SoF form is that of BIMCO BIMCO is one of the largest of the international shipping associations representing shipowners. BIMCO states that its membership represents approximately 60 percent of the world's merchant shipping tonnage and that it has members in more than 130 c .... References {{Reflist Ship management ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Railway Law
Rail transport (also known as train transport) is a means of transport that transfers passengers and goods on wheeled vehicles running on rails, which are incorporated in tracks. In contrast to road transport, where the vehicles run on a prepared flat surface, rail vehicles (rolling stock) are directionally guided by the tracks on which they run. Tracks usually consist of steel rails, installed on sleepers (ties) set in ballast, on which the rolling stock, usually fitted with metal wheels, moves. Other variations are also possible, such as "slab track", in which the rails are fastened to a concrete foundation resting on a prepared subsurface. Rolling stock in a rail transport system generally encounters lower frictional resistance than rubber-tyred road vehicles, so passenger and freight cars (carriages and wagons) can be coupled into longer trains. The operation is carried out by a railway company, providing transport between train stations or freight customer faci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bogie
A bogie ( ) (in some senses called a truck in North American English) is a chassis or framework that carries a wheelset, attached to a vehicle—a modular subassembly of wheels and axles. Bogies take various forms in various modes of transport. A bogie may remain normally attached (as on many railroad cars and semi-trailers) or be quickly detachable (as the dolly in a road train or in railway bogie exchange); it may contain a suspension within it (as most rail and trucking bogies do), or be solid and in turn be suspended (as most bogies of tracked vehicles are); it may be mounted on a swivel, as traditionally on a railway carriage or locomotive, additionally jointed and sprung (as in the landing gear of an airliner), or held in place by other means (centreless bogies). In Scotland, the term is used for a child’s (usually home-made) wooden cart. While ''bogie'' is the preferred spelling and first-listed variant in various dictionaries, bogey and bogy are also used. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
