Shipbroking and Chartering Practice
Page 729
Index
Index
- abbreviations 527–568
- aframax 62–64
- allocation of costs and risks per charter type 543, 244
- always accessible 480–481
- API gravity 16, 17
- applicable law and legislation 280, 284–285
- arbitration 286–287
- arbitration clauses 316
- arrest of vessels 319
- ASBA 97
- BAF 49
- Baltic Code of Ethics 276–278
- Baltic Exchange 93–94
- bareboat charter 230, 389–400
- Barecon 2001 95, 661–673
- barges 42
- BDI 81
- BFI 82
- bibliography 719–725
- BIFFEX 82
- bill of lading 189–202
- bankability 198–199
- bulk/tramp shipping 92
- carrier’s relationship with shipper and consignee 193
- clean 196–197
- confirmation of receipt of goods for transport 194–196
- contents 190
- destination 201
- document of title, as 194
- evidence of contract of carriage, as 197–198
- issue 189
- liner shipping 192
- negotiable 201
- non-negotiable 201–202
- purposes 190
- received for shipment 200
- standard forms 193
- terms and conditions 193
- types 200–202
- BIMCO 94–95
- BIMCO approved documents 235
- broker 102
- bulk cargoes 11–12
- bulk carriers 16–20
- bulk shipping v liner shipping 7–11
- bunkers clauses 314
- CAF 49
- calculation of income 446–449
- calculation of costs 437–446
- can 307–308
- capesize 52–54
- car carriers 39–40
- cargo liability 308–309
- cargoes 11–16
- carriage of goods by sea 186–189
- carrier’s liability 205–215
- cargo claims and time limits 212–213
- date of bill of lading 214–215
- Hamburg rules 215
- liability for cargo under charterparties 205–206
- liability for inspection and description of goods 214
- liability rules 208–209
- liability system 210–212
- limitation 213
- scope of application of international cargo conventions 209–210
- sea carrier’s liability statutory regime 206–208
- CD 448–449
- cesser and lien 343–45
- CFR 180
- charter chains 243–245
- charter contract 299–324
- charter forms 219–245
- charter market 1–42
- charter rates 43–83
- charter types and documents 239
- charterer’s requirements in dry bulk market 138–139
- charterer’s requirements in liquid bulk (tanker) market 131–138
- chartering documents 233–239
- chartering information 85–110
- chartering negotiation 247–275
- chartering policy of charterers and shippers 131–146
- chartering policy of shipowners 146–154
- bulk and liner markets 146–148
- commercial risks 148–151
- bunkers risk 150
- chartering oriented, operational, navigational and geographical 149
- chartering strategy and policy risk 150
- credit risk 151
- currency risk 150
- ethical 149
- financial 148–149
- freight risk 151
- inflation risk 151
- interest risk 151
- legal 149
- market risk 149
- opportunity cost risk 151
- risk of damage 151
- risk of death or injury 151
- risk of delay 151
- risk of loss 150
- risk of timing at decision-making 149–150
- factors affecting 151–154
- geographical and trading limits of ships employment 153
- policy of shipowners as approved by investors/shareholders 153
- quality of fleet 153
- relationship and experience with certain charterers/shippers 153
- state of freight market and expectations 151
- state of world economy and seaborne trade 152
- sub-contract 152–153
-
type of cargo and trade 153–154Page 731
- type of vessels 153
- voyage estimations 152
- chartering routines 247–278
- charterparty broker 102
- chemical tankers 23, 65, 66
- CIF 180
- CIP 180
- civil law 280
- CoA 2, 223, 232, 254–257, 266, 400–416, 455–456
- collision 321–323
- combined carriers 32
- commencement of time counting 487–489
- commercial management 124–129
- common charterparty clauses and concepts 299–324
- common law 279–280
- competitive broker 101, 102, 103
- Congenbill 2016 689–690
- Conlinebill 2016 691
- Conlinebooking 2016 685–686
- consecutive voyage charter 231
- consignment note 191
- construction and interpretation of charter agreements 274, 289–298
- containerships market 70–79
- containerships 32–35
- containerships indicative types of employment 71
- contract law 281–283
- contract of affreightment (CoA) 2, 232, 400–416
- cargo 410–413
- characteristics, terms and examples 403–405
- cost allocation
- definitions 400–406
- documents 405–406
- individual clauses 415
- need 401
- nomination procedure 414–415
- period 406–410
- programme of shipments 414–415
- scope and benefit 401–403
- shipbroker’s role 415–416
- terminology 403
- vessels 413–414
- contract of carriage
- sales of cargo, interface with 199
- contracting parties 283–284
- COP 499
- cost allocation 51, 242, 314, 399
- cost allocation per charter type 242–243
- cost variations
- court proceedings 285–286
- counter-offers 91
- CPT 180
- CQD 499
- currency clauses 312–313
- DAF 180–181
- DAP 181
-
DAT 181Page 732
- days 495–496
- DDU 181–182
- deadfreight 336–337
- decision-making process and buying behaviour 143–146
- deferred rebate scheme 49
- demise charter 2
- DEQ 181
- demurrage
- abbreviations 503
- agreed 447
- allocation of costs 243
- calculation 478, 488, 489, 491, 492
- cesser and lien 343
- commencement 466, 510
- commission, and 104, 338
- damages for detention, and 504–506
- definition 340, 502, 598
- dispute as to 283
- exception clauses 317
- exceptions 482
- FIO terms 445
- importance 340
- late payment 410
- lien clause 370
- liquidated damages 502
- maritime liens 318
- money transfers abroad 337–338
- owners collecting 345
- parity clause 313
- rates 231, 337, 466, 502, 512, 513, 517, 518, 520, 523
- surplus time used 226
- Worldscale 466
- DES 181
- design of charterparty 289–290
- despatch
- deviation 331–332
- documentary credit process 185
- documentary letter of credit 182–186
- documents in the chartering – freighting – loading process 234
- dry bulk market 52–60
- dry cargo broker 102
- dry cargo laytime calculations 513–516
- dry cargo market report 87
- dry cargo voyage estimations example 450
- electronic commerce 202–205
- escalation clauses 313–314
- ETA notices 478
- evidence 288–289
- exception clauses 317–318
- EXW 179
- FAC 499
- FAK 49
- FAS 179
- FCA 179
- FFA 82–83
- FOB 179–180
- follow-up stage 272–275
- FONASBA 96–97
- FONASBA Time Charter Interpretation Code 2000 657–660
- forwarding agent 108
- freight broker 102
- freight calculations 417–476
-
freight derivatives 81–83Page 733
- freight forwarder 108
- freight indices 80–81
- freight market 43–83
- freight market analysis 51
- freight market mechanism 43–48
- frustration of charter contract 315–316
- further research 727–730
- gas carriers 26–29
- Gencoa 675–679
- Gencon ’94 569
- box layout 300
- general average 319–321
- general cargo vessels 36
- general cargoes 12–13
- Gentime 599–608
- glossary 527–568
- Hamburg rules
- basic features 215
- handymax market 55–56
- handysize market 56–57
- heavy-lift carriers 41–42
- hire 367–371
- ice clause 330
- ICS 97
- in-house broker 102
- Incoterms 2010® rules 177–182
- Incoterms® rules 173–182
- indication 91, 261–266
- information centres 93–97
- information coverage 98–99
- information handlers 99–108
- information network 98
- insurance matters 216–217
- INTERCARGO 95
- Inter-Club NYPE Agreement 383
- internet sources 727–730
- INTERTANKO 95–96
- ISM 323–324
- lay 306–307
- lay/can 306–308
- laydays 492–495
- laytime 340,595–598
- meaning 477
- laytime allowance 489–499
- laytime calculations 477–526
- comparison of normal, reversible and average laytime 520–524
- comparison of weather working days of 24 consecutive hours (or working days weather permitting) with weather working days 524
- comparison of Laytime Definitions 2013 with Voylayrules ’93 516–517
- demurrage and damages for detention 502–506
- despatch 503, 506
- final analysis and result 501–507
- importance of all charterparty provisions 516
- more than one charterer for specific voyage 516
- NOR 507–508
- practical examples 517–526
- purposes 478
- SOF (statement of facts) 508
- stages and documents 507–509
- time sheets 508–509
- voyage charterparty 507
- laytime counting and exceptions 500–501
-
Laytime Definition for Charter Parties 2013 595–598Page 734
- letter of credit 171, 172, 173, 176, 182–186, 195, 196, 198, 550, 687
- liability rules 208–209
- liner agents 106–108
- liner freight market 44
- liner pricing 48–50
- liner shipping 7–11
- liquefied petroleum gas (LPG) 26–28
- liquid and dry cargo laytime 509–516
- litigation 287–288
- LNGVOY 95
- load lines 428–431
- local charterers 103
- LPG 26–28, 69–70, 77, 552
- management agreement 240–242
- management of shipping companies 241
- maritime lien 318–319
- market reports 85–86
- marketing of shipping companies 154–156
- marketing strategy 158–169
- differentiation and positioning strategies 167–169
- geographical differentiation 167–168
- image differentiation 168
- paperless trade 165–166
- people 163
- personnel and crew differentiation 168
- physical evidence-ship 165
- place-ports 163–164
- positioning strategy 168
- price-freight 161
- process 161–162
- product-service 159–161
- promotion 164–165
- qualitative differentiation 167
- shipping marketing mix 159–166
- tools of shipping marketing mix 166
- mate’s receipt 189
- measurement of cargo 431–437
- measurements 715–718
- multi-purpose vessels 35–36
- near clause 329–330
- neo-panamax 71–72
- notice time 485–486
- notice of vessel’s arrival and readiness 483–485
- NYPE 2015 625–656
- ocean currents 427
- off-hire 371–375
- offer 91, 290–292
- offshore vessels 29–32
- open freight market 44
- order 86–91
- panamax
- Papadopoulos, Mr Anthony xxv–xxvi
- paramount clause 308–309
- parties to contract 300–302
- passenger vessels 38–39
- piracy 324
- Plomaritou, Dr Evi xxv
- pontoon 42
- port agent 105–106
- position list 91
- post-panamax market 71
- reachable on arrival 480–481
- reefer vessels 36–38
- risks
- bunkers risk 150
- chartering oriented, operational, navigational and geographical 149
- chartering strategy and policy risk 150
- credit risk 151
- currency risk 150
- ethical 149
- financial 148–149
- freight risk 151
- inflation risk 151
- interest risk 151
- legal 149
- market risk 149
- opportunity cost risk 151
- risk of damage 151
- risk of death or injury 151
- risk of delay 151
- risk of loss 150
- risk of timing at decision-making 149–150
- ro-ro vessels 38–39
- general characteristics of market 39
- rules of chartering negotiations 276–278
- sales contract
- sea voyage 331
- sea waybill 191
- seaworthiness 305–306
- Shelltime 4 609–623
- Shellvoy 6 573–594
- shipbroker (chartering broker) 99–105
- Shipman 2009 693
- ship management 115–124
- agreement 116
- ancillary services 120
- commercial and operational services 119–120
- commercial, importance of 124–129 see also commercial management
- crew management services 118–119
- definition 115–116
- fixture services 119
- management fee 115
- marketing services 120
- models 120–124
- operational (post-fixture) services 119–120
- pre-fixture services 119
- professional supply 115
- separate from vessel’s ownership 116
- services 116–120
- technical management services 117–118
- third-party companies 115–116
- ship ownership 111–115
- shippers’ requirements in liner market 139–143
- shipping marketing with customer orientation 156–158
- signing of agreement 302
- SIRE programme 132–133
- small containerships market 73–74
- small vessels 41
- space (slot) charter 232–233
- special chartering routine 275–276
- special estimations 455–458
- specialised vessels 41–42
- specific gravity 17
- spot charter 2
- spot market 44, 45
- spot trades 53
- stage of investigation 248
- stage of negotiation 258–272
- standard charterparties 681–683
- stowage factor 14–16, 716–717
- strike clause 342
- subject provisions 268–269, 292–295
- suezmax 61–62
- supramax 55–56
- tanker estimations 458–476
- tanker market 60–69
- tanker market report 88
- tankers 20–25
- time charter 2, 227–230, 351–387
- allocation of costs 376–379, 379
- cargo 361–362
- cargo liability 380–384
- customary assistance and overtime 378
- damage to vessel 384–387
- damages and pre-termination of charter 375–376
- definition 351–352
- directions and instructions to vessel 376–377
- hire 367–371 see also hire
- information 379
- Inter-Club NYPE Agreement 383
- master’s position 377–378
- off-hire see off-hire
- period 362
-
allocation of costs at delivery and redelivery 366–367Page 737
- condition of vessel on delivery and redelivery 365–366
- delivery and redelivery of vessel 363–364
- extension due to off-hire periods 363
- length of 362
- overlap/underlap – last voyage 362–363
- place of vessel’s delivery and redelivery 365
- time of vessel’s delivery and redelivery 365
-
- routines 376–379
- trade 357–361
- time charter rates of major ship types 78
- vessel 352–357
- time limits 316–317
- time risk during sea voyage 478
- TMSA 133
- transport chain 175
- transport documents 238
- trip time charter 359–360
- tugs 42
- vessel 16–42, 302–306
- arrest 319
- arrival at agreed destination 478–481
- cargo capacity 354
- commercial operation and management 393
- damage to 348–349, 384–387
- delivery 392
- delivery and redelivery 363–367
- description 326, 352–354, 391–392
- directions and instructions 376–377
- ETA notices 478
- general cargo 36
- identity 302–304
- multi-purpose 35–36
- nomination 302–304, 413–414
- offshore 29–32
- readiness 482–483
- reefer 36–38
- ro/ro 38
- routing 126
- seaworthiness 305–306, 356–357, 392–393
- small 41
- specialised 41–42
- specification of cargo carrying capacity 326–327
- speed and bunker consumption 355–356
- substitution 302–305
- trading limits 304–305
- vessel’s arrival at agreed destination 478–481
- vessel’s charter 219
- vessels’ ETA notices 478
- vessels’ readiness 482–483
- VLCC 21
- voyage 327–332
- voyage calculation form 423, 424
- voyage charter 224–227, 325–350
- agents 342–343
- cargo 332–334
- cargo liability 345–347
- cesser and lien see cesser and lien
- consecutive 349
-
cost allocation 51, 242, 314, 341–343Page 738
- damage to vessel 348–349
- definitions 325–326
- freight 334–338
- laytime 340, 477–526,595–598
- liner business, and 349–350
- loading and discharging 339–340
- routines and allocation of costs 341–343
- strike clauses 342
- vessel 326–327
- voyage see voyage
- voyage estimation 417–455
- bunkers cost 452–453
- cargo details 453–454
- example 449–455
- final result 454–455
- first stage: voyage plan 422–431
- form 419
- fourth stage: calculations of income 446–449
- gross freight 454–455
- gross voyage surplus 454–455
- net freight 454–455
- second stage: measurement of cargo 431–437
- third stage: calculations of costs 437–446
- voyage costs 454–455
- voyage details 449
- voyage plan 422–431
- VLCC 60–61
- waiting for berth 480
- war cancellation clauses 309
- war clauses 309–311
- war risk clauses 310–311
- waybill 191
- WHTC 466
- world cargo fleet 5
- world seaborne trade 14
- world weather chart 426
- Worldscale 459–476
- additions 463
- bunker consumption 468–469
- calculation of freight 465
- cargo 469
- contents and structure of book 465–466
- demurrage 466–467
- description 460–462
- despatch 466–467
- differentials 463
- fixed differentials 463
- flat rate 469–470
- historical background 459–460
- lay/can 466–467
- laytime 466–467
- practical examples 467–476
- practical tips 462–465
- rationale 460–462
- time charter, and 467
- total voyage cost 469
- use 460–462
- variable differentials 463–464
- voyage time 468
- WP 496
- WSHTC 466
- WW 496