Cargo & Trade
Terms from Bareboat Charter to Voyage Charter, each linked to related terms and to the desks that work with them.
Entries updated May 2026
Related desks
Terms in Cargo & Trade
30 termsBareboat Charter
A charter party agreement in which the shipowner provides only the vessel without crew, provisions, or insurance.
Bill of Lading
A 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 Bulk
Cargo 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.
Bunker
Marine fuel used to power a vessel's main engines and auxiliary machinery.
Charter Party
A 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.
CIF
Cost, 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.
COA
Contract 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.
Containerization
The system of transporting goods in standardised intermodal containers that can be efficiently transferred between ships, trucks, and rail cars without handling the cargo itself.
Customs
The government authority responsible for controlling the import and export of goods at ports, collecting duties and taxes, and enforcing trade regulations.
Dead Freight
A charge payable by the charterer for the unused cargo space when the agreed quantity of cargo is not provided for loading.
Deadweight Tonnage
The total weight a vessel can carry, including cargo, fuel, fresh water, ballast water, provisions, passengers, and crew, measured in metric tonnes.
Demurrage
A charge payable by the charterer to the shipowner when a vessel is detained in port beyond the agreed laytime allowed for loading or discharging cargo.
Dispatch
A financial reward paid by the shipowner to the charterer when a vessel completes loading or discharging in less than the agreed laytime.
Dry Docking
The process of placing a vessel in a dry dock for inspection, maintenance, repair, and painting of the underwater hull.
FEU
Forty-foot Equivalent Unit, a measure of container capacity equal to two TEU, based on the standard 40-foot intermodal container.
FOB
Free On Board, an Incoterm under which the seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment.
Freight Rate
The price charged by a carrier for the transportation of cargo from origin to destination, expressed per tonne, per container (TEU/FEU), or as a lump sum.
Gross Tonnage
A measure of the overall internal volume of a vessel, calculated according to the International Convention on Tonnage Measurement of Ships (1969).
Incoterms
International Commercial Terms published by the International Chamber of Commerce (ICC) that define the responsibilities, costs, and risks between buyers and sellers in international trade transactions.
Lashing
The process of securing cargo aboard a vessel using chains, wires, ropes, turnbuckles, and other fittings to prevent movement during the voyage.
Lay Days
The range of dates within which a vessel must arrive at the loading port and present notice of readiness to the charterer.
Laytime
The period of time agreed in the charter party during which the shipowner makes the vessel available for loading or discharging cargo without additional charge.
Letter of Credit
A financial instrument issued by a bank on behalf of a buyer guaranteeing payment to the seller upon presentation of specified shipping documents, including the bill of lading.
Manifest
A comprehensive document listing all cargo carried on a vessel for a particular voyage, including descriptions, quantities, weights, shippers, and consignees.
Spot Rate
The current market price for chartering a vessel or shipping cargo for immediate or near-term loading, as opposed to long-term contract rates.
Stowage Factor
The volume in cubic metres or cubic feet occupied by one metric tonne of a particular cargo when stowed in a vessel's hold.
Supercargo
A person employed by the cargo owner or charterer to travel on a vessel and oversee the loading, stowage, care, and discharge of the cargo.
TEU
Twenty-foot Equivalent Unit, a standard measure of container ship capacity based on the dimensions of a standard 20-foot intermodal container (approximately 6.1 metres long, 2.44 metres wide, and 2.59 metres high).
Time Charter
A charter party agreement in which the shipowner provides a manned and equipped vessel to the charterer for a specified period.
Voyage Charter
A charter party agreement in which the shipowner agrees to carry a specific cargo between named ports for a negotiated freight rate.