1.

Stowage Factor
the stowage factor indicates how many cubic metres of space one metric tonne of a particular
type of cargo occupies in a hold of a cargo ship
2.Bareboat Charter
A bareboat charter or demise charter is an arrangement for the chartering or hiring of a ship or
boat, whereby no crew or provisions are included as part of the agreement; instead, the people
who rent the vessel from the owner are responsible for taking care of such things.
3.Voyage Estimation
Voyage estimation aims at calculating the profit or loss that a vessel will make from a proposed
voyage .
Voyage estimates are simply profit and loss accounts for the particular voyage in question that
are arrived at by calculating and then subtracting all related expenses.
4.lag of convenience
A flag of a country under which a ship is registered in order to avoid financial charges or
restrictive regulations in the owner's country.
5.Sea Worthiness
Seaworthiness is a concept that runs through maritime law in at least four contractual
relationships. In a marine insurance voyage policy, the assured warrants that the vessel
is seaworthy. A carrier of goods by sea owes a duty to a shipper of cargo that the vessel is
seaworthy at the start of the voyage.

6.General Average

The law of general average is a principle of maritime law whereby all stakeholders in a sea
venture proportionally share any losses resulting from a voluntary sacrifice of part of the ship or
cargo to save the whole in an emergency.

7.Multimodal transport

Multimodal transport is the transportation of goods under a single contract, but performed with
at least two different modes of transport; the carrier is liable for the entire carriage, even though
it is performed by several different modes of transport.
8.Shipping Conference
A group of shipping lines which have associated to offer regular service on specific routes at
publicly announced prices. Conferences generally offer specific rebates for regular or high-
volume shipments.

9.Shippers council

The World Shipping Council (WSC) is the peak industry trade group representing the
international liner shipping industry, which offers regularly scheduled service on fixed
schedules. Most liner carriers are container shipping lines.
10.Ms Act

Merchant Shipping Act (with its variations) is a stock short title used in Malaysia and the United

Kingdom for legislation relating to merchant shipping.
Merchant shipping acts and regulations also exist as well in other countries, and they are
sometimes referred to as "Merchant Shipping Act" such as
in Malta, India, Singapore, Kenya and South Africa. Each country has its specific rules regarding
merchant shipping

11.Factors influencing frieght

Weight of the shipment.

Density of the shipment.

Distance between source and destination.

Freight Classification.

Shipping Mode.

Fuel Cost.

Tariff rates and Negotiated Rates.

12.Maritime Fraud

Maritime frauds can occur anywhere; be it a vessel, a shipping company office or a trading company
transporting goods by sea. The list can go on. It necessarily has to involve two or more parties, out of
which one or more must have unjustly or illegally succeeded in obtaining goods or services from another
party. Since they can happen anywhere, it is important that seafarer is extra careful and do not get
directly or indirectly involved in activities or get himself coerced by senior officers in wrong doings that
can cost them dearly, both financially as well as to their reputation.

13. Dock Labour Board

The scheme was administered by the National Dock Labour Board, and by local boards, made up of
equal numbers of “persons representing dock workers in the port and of persons representing the
employers of such dockworkers”, the Scheme was financed by a levy on the employers. Each local board
was responsible for keeping a register of employers and workers, paying wages and attendance money,
controlling the hiring of labour, and responsibility for discipline.

14.Safe Manning

Minimum safe manning is the level of manning that will ensure that a ship is sufficiently,
effectively and efficiently manned to provide: safety and security of the ship. safe navigation
and operations at sea. safe operations in port.
15.Perils as per Marine Insurance
Marine Perils (Perils of Sea) – This may include fire, explosion, jettison, storm, collision,
sinking, contact with objects fixed or floating etc. War, strike, riot and civil commotion.
Extraneous Perils – Such as pilferage, non delivery, rain water damage, hook damage, oil
damage, heating, breaking, denting etc.
16.P & I Clubs
A Protection and Indemnity or P&I club is a non-governmental, non-profitable mutual or
cooperative association of marine insurance providers to its members which consists of ship
owners, operators, charterers and seafarers under the member companies.
17. Condition of Class
A requirement of a class surveyor, recorded on an Interim Certificate of Class, that a specific
measure, repair, survey, etc. Must be carried out by a specified date in order for the ship to
retain her class.
18.Pilotage
Around the world, many maritime countries use specialized marine pilots to navigate ships through
domestic waterways. Pilots are professionally licensed mariners whose role is to board and assume
the conduct of a vessel and guide it along the safest route to its port of call.

19.Demurrage

A charge payable to the owner of a chartered ship on failure to load or discharge the ship within the
time agreed.

20. 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. The three main types
of charter are: demise charter, voyage charter, and time charter.

21.Inland Container Depots

Inland Container Depots, otherwise known as ICDs, are dry ports equipped for handling and
temporary storage of containerized cargo as well as empties. This means that hinterland customers
can receive port services more conveniently closer to their premises.

22. Container Freight Station

A port facility for loading and unloading containerized cargo to and from ships. Also called
container terminal.
23.Stale Bill of Lading
Stale bill of lading. This is generally a bill of lading that is presented to the bank or delivered to the
consignee after the cargo reaches its destination.
24. Sum insured and its limits

The sum insured (or limit of indemnity) is the maximum amount covered by the insurer in the event
of damage. A) Limited sum insured: The insurer covers no more than the agreed amount in the
event of a claim. If the amount of damage exceeds the sum insured, the policyholder has to pay for
the difference.

25.FOB & CIF sale

Cost, Insurance, and Freight (CIF) and Free on Board (FOB) are international shipping agreements
used in the transportation of goods between a buyer and a seller. In general, both contracts specify
origin and destination information that is used to determine where liability officially begins and ends,
and outline the responsibilities of buyers to sellers, as well as sellers to buyers.

26.FCL = Full Container Load and LCL = Less than Container Load

LCL means you share space with others, also share cost