ISTHMUS UNIVERSITY

STUDENT:

DE DIEGO, RAÚL

TEACHER:

ARANGO, MANUEL

MATTER:

MARINE TECHNICAL ENGLISH III

THEME:

VOCABULARY

DATE

FEBRUARY 1,2022
 Vocabulary #1

1. Address commission: Commission payable by the shipowner to the charterer, expressed

as a percentage of the freight or hire. This commission is a reimbursement to the
charterer for costs incurred in relation to the chartering of the vessel either to third party
brokers or by the chareterer's shipping department.
2. Affreightment: A contract of affreightment is a contract between a ship-owner and a
charterer, in which the ship-owner agrees to carry goods for the charterer in the ship, or
to give the charterer the use of the whole or part of the ship's cargo-carrying space for
the carriage of goods on a specified voyage or voyages or for a specified time. The
charterer agrees to pay a specified price, called freight, for the carriage of the goods or
the use of the ship.
3. 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. This act is commonly known as bareboating
or bareboat charter.
4. Bunker clause: is the fuel energy used by a ship. This can include different grades and
types of fuel oil used for different purposes. It can also include coal. In charterparties
there are a number of clauses dealing with bunkers. BIMCO has issued, supported or
recommended certain “Bunker clauses” that should be inserted in charterparties.
5. Charter party: Voyage charter is a type of contract for the transport of goods by sea. In
this charter, one party, the charterer or shipping company, makes available to another,
the charterer, the entire cargo capacity of a ship for a given trip, in exchange for a price
called freight.
6. Charterer: could refer to the owner of the vessel or the charterer, or both.
7. Chartering: Maritime transport under charter is based on the contracting of vessels
between shippers who need to transport large volumes of merchandise and shipowners
who have appropriate vessels for that cargo both due to its characteristics and the
geographical location of the vessel on the date of shipment.
8. Common carrier: A carrier is a person who is professionally dedicated to transporting
merchandise or parcels or materials of some kind. He usually does it with a truck, and
in this case, he is also called a truck driver.
9. Consignee: In a contract of carriage, the consignee is the entity who is financially
responsible (the buyer) for the receipt of a shipment. Generally, but not always, the
consignee is the same as the receiver.
10. Consignor: The consignor, in a contract of carriage, is the person sending a shipment to
be delivered whether by land, sea or air. Some carriers, such as national postal entities,
use the term "sender" or "shipper" but in the event of a legal dispute the proper and
technical term "consignor" will generally be used.
11. Demise charter: the disappearance, hire, lease, or delivery of the vessel to the charterer,
by virtue of which the charterer has possession and control of the vessel, including the
right to appoint its captain and crew.
12. Demurrage: a charge payable to the owner of a chartered ship in respect of failure to
load or discharge the ship within the time agreed.
13. Due diligence: The term due diligence is used for concepts that imply the investigation
of a company or person prior to the signing of a contract or a law with a certain
diligence of care. This may be a legal obligation, but the term is more commonly
applicable to voluntary investigations.
14. Gross hire: Gross rent is the amount of rent stipulated in a lease. When someone signs a
lease, she'll have to pay rent each month, and the gross rent is the combined amount of
monthly payments.
15. Hire/renting: Leasing, also known as contracting or leasing, is an agreement in which
payment is made for the temporary use of a good, service, or property owned by
another.
16. Ice clause: A standard clause in vessel chartering, dictating the course that a vessel
master may take if the ship is prevented from entering the loading or discharge port
because of ice, or if the vessel is threatened by ice while in port.
17. Latent defect: Hidden defects or defects, also called redhibitory defects, are, in Law, the
possible defects that a thing that is the object of sale may have and that are not
recognizable in the examination of the thing at the time of delivery.
18. Lay days: The time of iron or stay, in maritime transport, in chartering, is the period
that a ship must remain in port dedicated to loading and unloading operations of the
merchandise.
19. Lighterage clause: is the process of transferring cargo between vessels of different
sizes, usually between a barge (lighter) and a bulker or oil tanker. Lightering is
undertaken to reduce a vessel's draft so it can enter port facilities that cannot accept
large fully-loaded ocean-going vessels.
20. Negligence clause: The Inchmaree clause, also called the negligence clause, covers
damage that is caused by the negligence of ship personnel, such as engineers and
captains, when navigating. It is a type of additional perils clause.
21. Off-hire clause: The most common form of express clause, which is introduced in order
to minimise risk, is the 'off-hire clause'. The purpose of this clause is to entitle charterer
to stop paying hire if delay is caused to the operation of the vessel.
22. Ready berth clause: it is important to include a stipulation in a charterparty to the effect
that the Notice of Readiness can be tendered and laydays will begin to count as soon as
the vessel has arrived at the port of loading or discharge whether in berth or not.
23. Seaworthy: Seaworthiness classifies whether a ship has passed the required tests and
safety checks to be able to sail without any mishaps. It determines whether or not the
ship has been properly assessed, outfitted and maintained in accordance with admiralty
law.
24. Ship clause: A package or group of packages that UPS agrees to transport under the
same waybill number.
25. Shipbroking: is a financial service, which forms part of the global shipping industry.
Shipbrokers are specialist intermediaries/negotiators (i.e. brokers) between shipowners
and charterers who use ships to transport cargo, or between buyers and sellers of
vessels.
26. Shipowner: Shipowner is that shipowner or shipping company that is in charge of
equipping, supplying, providing a crew and keeping a vessel owned or under its
possession in a state of seaworthiness, in order to assume its nautical management and
operation.
27. Shipping: is the physical moving of good from one point to another, such as the moving
of merchandise from the warehouse to the customer. The shipping process follows the
manufacture and the packing of goods and will be controlled by a shipping or logistics
company.
28. Time charter: contract by which the owner of a ship lets it to others for use in
transporting a cargo. The shipowner continues to control the navigation and
management of the vessel, but its carrying capacity is engaged by the charterer.
29. Typical clauses: A condition by which an insurer determines that the payment for any
damage or any loss will be in proportion to the value insured.
30. Voyage charter: contract by which the owner of a ship lets it to others for use in
transporting a cargo. The shipowner continues to control the navigation and
management of the vessel, but its carrying capacity is engaged by the charterer.