Types of Ships

Affreightment #

A contract for the transportation of goods by sea, where the shipowner agrees to carry cargo for a fixed price, regardless of the actual amount of cargo loaded. Also known as a "lump sum" or "fixed rate" contract.

Agent #

A person or company that acts on behalf of a shipowner or charterer to arrange the sale, purchase, or transportation of goods by sea. Agents may also provide other services, such as cargo handling, stowage, and documentation.

Agency fee #

A fee paid to a shipping agent for their services in arranging the transportation of goods by sea. The fee may be a fixed amount or a percentage of the value of the goods.

Baltic and International Maritime Council (BIMCO) #

A global shipping organization that provides standard contracts, clauses, and guidelines for the maritime industry.

Bill of lading (B/L) #

A legal document issued by a shipping line or agent that serves as evidence of a contract of carriage, a receipt for goods, and a document of title.

Bulk carrier #

A type of ship designed to transport large quantities of dry bulk cargo, such as grain, coal, or ore, in a single hold.

Charter party #

A contract between a shipowner and a charterer for the use of a ship for a specific period or voyage.

Chemical tanker #

A type of ship designed to transport chemicals and other liquid cargoes in separate tanks to prevent contamination.

Commodity trade #

The buying and selling of raw materials, such as oil, gas, metals, and agricultural products, on the global market.

Container ship #

A type of ship designed to transport standardized shipping containers in large numbers.

Demurrage #

A charge levied by a shipping line or terminal operator for the detention of a ship or container beyond the allowed free time.

Dry bulk cargo #

A term used to describe unpackaged, loose cargo, such as grain, coal, or ore, that is transported in large quantities in the holds of bulk carriers.

Flag of convenience #

A practice where a ship is registered in a country other than its owner's, often for tax or regulatory reasons.

Freight forwarder #

A company that acts as an intermediary between shippers and carriers, providing logistics and transportation services.

General cargo #

A term used to describe a variety of packaged or unitized goods, such as machinery, electronics, and consumer products, that are transported by sea in containers or on pallets.

Liner service #

A regular, scheduled service provided by a shipping line, where ships travel along fixed routes and call at specific ports.

Multimodal transport #

The transportation of goods using more than one mode of transport, such as sea, rail, and road.

Nett tonnage #

A measure of a ship's cargo-carrying capacity, calculated based on the ship's internal volume and the amount of space available for cargo.

Panamax #

A term used to describe the maximum size of a ship that can pass through the Panama Canal, based on the canal's dimensions and locks.

Port state control #

The inspection of foreign ships in a country's ports to ensure compliance with international regulations and safety standards.

Reefer container #

A specialized shipping container designed to transport temperature-controlled cargo, such as perishable goods or pharmaceuticals.

Ro #

ro (roll-on/roll-off) ship: A type of ship designed to transport wheeled cargo, such as cars, trucks, and trailers, that can be driven on and off the ship.

Shipbroker #

A person or company that acts as an intermediary between shipowners and charterers, arranging the chartering of ships and the transportation of goods by sea.

Shipowner #

A person or company that owns and operates a ship.

Spot market #

A market for the immediate sale or purchase of goods or services, as opposed to a future or forward market.

Tanker #

A type of ship designed to transport liquid cargo, such as oil, chemicals, or liquefied gas, in tanks.

Time charter #

A contract for the use of a ship for a specific period, where the charterer pays a fixed daily or monthly rate and is responsible for the ship's operating expenses.

Tramp trade #

The transportation of goods by sea on a voyage-by-voyage basis, without a fixed schedule or route.

Vessel particulars #

A detailed description of a ship, including its dimensions, tonnage, machinery, and equipment.

Voyage charter #

A contract for the use of a ship for a specific voyage, where the charterer pays a fixed rate based on the amount of cargo carried and the distance traveled.

Worldscale #

A standardized system for calculating the cost of transporting oil by sea, based on a fixed rate per ton per mile.

Zone of transition #

A geographical area where different maritime zones, such as territorial waters and the high seas, meet and where different laws and regulations apply.