Marine fuel used to power a vessel's main engines and auxiliary machinery. The term originates from the coal bunkers of early steamships. Modern bunker fuels include heavy fuel oil (HFO), very low sulphur fuel oil (VLSFO), marine gas oil (MGO), and increasingly LNG.
Category: Cargo & Trade
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Bareboat CharterA charter party agreement in which the shipowner provides only the vessel without crew, provisions, or insurance.Bill of LadingA legal document issued by a carrier or its agent to a shipper that serves as a receipt for cargo, evidence of the contract of carriage, and a document of title to the goods.Break BulkCargo that is shipped as individual pieces or packages rather than in containers, including items such as steel, lumber, project cargo, heavy machinery, and bagged goods.Charter PartyA contract between a shipowner and a charterer for the hire of a vessel or part of its cargo space for a specified voyage, period of time, or on a bareboat basis.CIFCost, Insurance and Freight, an Incoterm under which the seller delivers the goods on board the vessel and pays the cost of freight and marine insurance to the named destination port.COAContract of Affreightment, a long-term agreement between a shipper and a shipowner to transport a specified quantity of cargo over a given period, with individual shipments made on vessels nominated by the owner.
Back to DictionaryEntry updated May 2026