Certificate of Seaworthiness
Certificate of Seaworthiness Seaworthiness is the ability of a ship to operate in all types of weather and sea states. When a classed vessel suffers damage, the Classification Society carries out a…
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Cargo Surveys
Cargo Surveys CARGO SURVEYSIt may be necessary to carry out surveys and inspections of many kinds in connection with chartering and cargo.The persons carrying out surveys are usually independent surveyors…
Protests
Protests A “protest”, sometimes called a “sea protest”, is a solemn declaration, made on oath by a shipmaster before a person legally empowered to hear such declarations, that circumstances beyond…
INCOTERMS
INCOTERMS We will now see examples of some important INCOTERMS only:-EXW-Ex Works: location mentioned-The “seller” is to place the goods at the disposal of the “customer”, at the “seller’s” premises,…
WORLDSCALE
WORLDSCALE The New Worldwide Tanker Nominal Freight Scale, or ‘Worldscale’ for short, is a freight rate schedule that is used to calculate freight for the carriage of oil in bulk.This…
The Average Freight Rate Assessment AFRA
AFRA The Average Freight Rate Assessment AFRA is the acronym for average freight rates provided by the London Tanker Brokers Panel; these are essentially average (historical) freight rates that are…
On Charter-Main clauses
On Charter-Main clauses The following will be discussed in the subsequent sections: On Hire Survey and Delivery Laytime Port Operations Speed, Consumption Calculation Costs, Demurrage and Despatch Bill of Lading…
Pre Charter
Pre Charter The following topics will be discussed in the subsequent sections: Negotiation Contracts Preparing for the Charter CAP TMSA CDI SIRE
Demurrage and Despatch
Demurrage and Despatch Demurrage and Despatch are the costs pertaining to cargo operations during the charter with regard to laytime. If cargo operations are completed after expiry of the laytime…
Other Clauses
Other Clauses Freight - Amount of money paid by a shipowner or shipping line for the carriage of cargo. Depending on the type of contract, the particular terms and, in…
Some important Clauses in Chartering
Some important Clauses in Chartering BOTH TO BLAME COLLISION CLAUSE:- An example: Under the Negligent clause the carrier has no liability for loss or damage arising from errors or faults…
Some Common Clauses in Chartering
Some Common Clauses in Chartering A charter party is a contract of employment between the ship owner and the charterer that reflects the negotiated agreement between the two parties to…