The process of placing a vessel in a dry dock for inspection, maintenance, repair, and painting of the underwater hull. Classification society rules and flag state regulations require commercial vessels to undergo dry docking at regular intervals, typically every five years with intermediate surveys.
Category: Cargo & Trade
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Deadweight TonnageThe total weight a vessel can carry, including cargo, fuel, fresh water, ballast water, provisions, passengers, and crew, measured in metric tonnes.DemurrageA 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.DispatchA financial reward paid by the shipowner to the charterer when a vessel completes loading or discharging in less than the agreed laytime.FEUForty-foot Equivalent Unit, a measure of container capacity equal to two TEU, based on the standard 40-foot intermodal container.FOBFree 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 RateThe 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.
Back to DictionaryEntry updated May 2026