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Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%
Maritime Dictionary

Letter of Credit

Cargo & Trade

Meaning

Definition

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. Letters of credit are fundamental to international trade, providing security to both buyer and seller.

Related Terms

See Also

Bill of LadingFOBCIF
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