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Chartering Termss We Will Make Our Customers Successful We will make our Customers successful. Through us access to the whole world. Chartering termss YOUR PARTNER OF CHOICE OUR SERVICES OUR VALUES IN MARITIME SUPPLY CHAIN SOLUTIONS AT EUROPORTS WE LIVE AND WORK • Euroports is one of continental Europe's THROUGH US YOU GET ALL SERVICES IN PORT OPERATING: BY 5 CORE VALUES: largest port operators. • Cargo handling • Passion for performance • Through us travel about 46 million tons • Storage • Successful Customer Relationships of goods annually, with the largest part being • Forwarding • Respect for people single items and bulk goods. • Shipping Services • Act with integrity • International shipments • Teamwork • We have 22 port terminals • Customs warehouse services in Europe and 4 in China. • In addition we operate 10 terminals on behalf of our customers. • Our turnover is around 600 million Euros and we employ 2,550 professionals throughout different parts of the world. A full-service port operator, that you can rely on. Our terminals worldwide Welcome to our world! Chartering terms are not always the most Finland simplest of things to understand. In order to Pietarsaari help you to understand cargo terminology, Rauma we have collected here for you some Belgium Germany chartering terms. Antwerp France Rostock Charleroi Le Havre Italy Bulgaria Ghent Rouen Varna These chartering terms have been chosen Vado Turkey Liege Spain from various sources and are used in today’s Venice Basiskele Kocaeli Tarragona China business. However, Euroports cannot take any Changshu liability for the content or use thereof. Chongqing Jining We sincerely hope that you will find this Zhuhai document useful! Euroports Team Euroports Finland Oy Hakunintie 23 • P.O.Box 68 • FI-26101 Rauma tel. +358 2 83 121 [email protected] • euroports.fi Belgium Belgium • Brazil • Bulgaria • China • Finland • France • Germany • Italy • Luxemburg • Netherlands • Spain • Turkey • United Arab Emirates Chartering terms Belgium • Brazil • Bulgaria • China • Finland • France • Germany • Italy • Luxemburg • Netherlands • Spain • TurkeyChartering • United Atermsrab Emirates 1 A/E or ACC/EXC – Accept / Except: Term for instance, BIMCO and one or more groups ties may include arranging a berth with the used by either the shipowner’s broker or the representing charterers is officially support- port authority, ordering pilots, tugs and labor, prospective charterer’s broker during the ne- ed by another association of shipowners, for entering the ship in at Customs and collect- gotiations for the charter of a ship to signi- instance, the Chamber of Shipping of the ing freight. fy that an offer or counter-offer is accepted United Kingdom, it is stated that the Cham- apart from certain clauses or details. These ber of Shipping of the United Kingdom has ”Agreed” Charter – The charter has been are then listed together with the amend- adopted” the charter; or on the other hand, agreed between BIMCO (or The Chamber of ments sought. if BIMCO wants to support one or the other Shipping of the United Kingdom or Cornite Cen- charter negotiated and ”agreed” between tral des Armateurs de France or other associa- AD VAL FRT. – Ad Valorem Freight: Freight the Chamber of Shipping of the United King- tions of shipowners) with one or more groups calculated on the value of the goods, ex- dom and one or more groups of charterers, of charterers or other institutions (for instance, pressed as a percentage thereof. then it is stated that the charter has been the Polish Coal Charter Committee, the Timber adopted by BIMCO. Moreover, a document Trade Federation of the United Kingdom, the A Addcomm – Address commission: Commis- issued by an organization of shipowners, for Syndicat National du Commerce Exterieur de sion payable by the shipowner to the charter- instance INTERTANKO, for use in a special Cereales, Paris or CMEA, Moscow). The printed AA – Always Accessible or Always Afloat: er. The reason for this system is sometimes trade without having actually been ’agreed” conditions of an ”agreed” charter must not be term in Charter-Party which stipulates that said to be that the charterer’s shipping de- with any particular group of charterers, may altered or deleted without the express approv- the charterer must not order the ship to a partment for bookkeeping purposes must be adopted by BIMCO. An adopted docu- al of the organizations who have agreed the port or berth where she would touch the bot- show some kind of income from their activi- ment is compulsory for the members of the charter. An ”agreed” document is compulsory tom or perhaps be unavailable at any time ties. State trading countries regularly include organization who have adopted it if it is an for the trade for which it is intended, e.x. the due to tidal variations. a 5 % address commission in their orders. ”agreed” document. sugar trade. AAAA – Always accessible always afloat Additional Demurrage – Amount of money Advance Freight – Freight payable at a time AGW – All going well paid to the shipowner by the voyage charter- agreed by the shipowner and the shipper, be- A/C – Account: This term is used when refer- er, shipper or receiver, as the case may be, fore the goods are delivered at the place of All in Rate – Freight rate which is inclusive ring to a bank account and when allocating for failing to complete loading or discharging destination in the contract of carriage. of all surcharges and extras. This type of costs, such as in the phrase “for the a/c of before the agreed period of free time has ex- freight rate is to be found in the liner trade. charterers” pired. The daily rate of additional demurrage Advance on Freight Money advances by the is agreed in the Charter-Party. shipper to the master of a ship to pay for his Anniversary Date – This refers to the hour ABS – American Bureau of Shipping disbursements white in port. It is often re- and date the ship is delivered to the charter- Additional Freight – Extra charge imposed paid by deduction from freight. er and, therefore, hire is paid from that date, ABT – About: A conditional term used in in accordance with the contract of carriage either semi-monthly, monthly, or per 30 days, qualifiying cargo, time, bunkers or speed, by a shipping line on the shipper, received Affreightment – The hiring of a ship, the through the end of the charter period. This when discussing cargo. “about” usually cov- of Bill of Lading holder, as the case may be, term may also sometimes be used to de- is especially important when negotiating for ers a margin of 5 % either way (i.e. 25,000 for additional expenses incurred in dis-charg- scribe a contract for a series of voyages. an extension, or when ”fixing” in direct con- LT 5% more or less, at owner’s option); when ing the cargo. This charge generally applies tinuation. referring to a period of time, usually 15 days, when the port stipulated in the contract is AG – Arabian Gulf (used when vessels are although each case is considered on its own inaccessible or when the discharge there proceeding to Arabian ports) AP – All Purposes: Time allowed in a voyage merit, in connection with bunkers, “about” would result in unreasonable delay to the charter for loading and discharging com- has been interpreted to mean 5 % attitude; ship: under these circumstances, the ship- Agency Clause – Clause in Charter-Party, bined, expressed as a number of days and regarding speed, the tolerance is generally ping line may have an option under the con- which stipulates whether the ship’s agent at hours. Also referred to simply as purposes. one half knot. tract of carriage to proceed to another port the loading and / or discharging ports are to of discharge the cargo where extra costs may be nominated by the shipowner or the char- ”Approved” Charter – This is the expression Accomplished Bill of Lading – Original Bill be incurred. terer. used for charters whether ”agreed”, ”adopted” of Lading which has been surrendered to or ”recommended”. the carrying ship at the discharge port in ex- ”Adopted” Charter – If a charter ”agreed” Agency Fee – Fee payable by the shipowner change for the goods. in that way following negotiations between, or ship operator to a port agent, whose du- 2 Chartering terms 3 APS – Arrival Pilot Station - Location often As Agent Only - Form of words used with a against that used in discharging for the pur- to find a cargo near to the place of redeliv- used as the place of delivery of a ship by the signature to a Charter-Party of Bill of Lading pose of calculating demurrage or despatch. ery of the ship at the end of the period of the shipowner to the charterer at the commence- to indicate that the party signing is doing so If, for example, a charterer earns five days charter and is therefore obliged to ballast his ment of a time charter. The hire charge com- merely on behalf of a principal, whether is despatch at the loading port but there is a ship elsewhere. mences from the time of arrival unless the to be the master, owner or charterer of the period of three days demurrage at the dis- ship arrives prior to the first of the laydays. In ship, and has no rights or liabilities under the charging port, the charterer has a net claim Baltic Mercantile Et Shipping Exchange such a case, the hire charge commences at contract of carriage. for two days despatch money. – Institution, located in London, England, the beginning of the first layday or sooner at also known as the Baltic Exchange or simply the option of the charterer. As – in the condition in which the subject the Baltic, whose main function is to provide matter is.
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