Chartering Terms & Abbreviations - modaship.com

Chartering Terms & Abbreviations Aaosa Always afloat or safe aground. The condition for a vessel whilst in port. Addendum Additional Terms at the end of a charter party . Arbitration Method of settling disputes which is usually binding on parties. A clause usually in a charter party . ASBA. American Shipbrokers Association B/L. Bill of lading, receipt of goods shipped onboard signed by Master (or agent) who contracts to carry them, stating Terms on which goods are carried. B/N. Booking note Backletter Where a seller/shipper issues a 'letter of indemnity' in favour of the carrier in exchange for a clean bill of lading. May have only a limited value. Example: P & I. problems. BAF. Bunker adjustment factor Bale Capacity Cubic capacity of a vessels holds to carry packaged dry cargo such as bales/pallets. Ballast Bonus Compensation paid by Charterer for (relatively long) ballast voyage Bareboat charter Vessel contract where charterers take over all responsibility for the operation of the vessel and expenses for a certain period of time.

Chartering Terms & Abbreviations . Aaosa . Always afloat or safe aground. The condition for a vessel whilst in port. Addendum . Additional terms at the end of a charter party.

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