Glossary

A voyage that takes place between ports of discharge and loading ports where the vessel is carrying no cargo and hence takes on ballast (usually water) to make the vessel more manageable at sea

A private agreement between two parties, individual or body corporate whereby the ship-owner leases an entire ship to the charterer for a particular reason (e.g. conveyance of goods). The ship-owner effectively gives the whole possession, operation and control of the ship over to the charterer. The charterer then becomes for the time the owner of the vessel allowing him to register with a flag state of his choice. Also see Demise Charter

A contract for the sale of a vessel which includes the vessel’s description, sales price, buyer's name, original signature of seller, and date.

The Baltic and International Maritime Council (BIMCO) is a private organisation representing members’ interests in maritime affairs and free trade. Membership consists of ship-owners, shipbrokers and P&I Clubs representing more than 65% of the world’s ocean-going dry-cargo and tanker fleet.

A certificate signed by the builder of a ship and containing a true account of the particulars of the ship, as estimated by him, and of the date and place where it was built, and of the name of the person, if any, for whom the ship was built, or the name of the person to whom it was delivered.

A vessel with no tween-deck used for bulk transport of everything stowed in bulk without packaging such as grain, coal, ore, sugar, cement, etc.

Bureau Veritas