Cargo and Operations Terms
The terms that govern a port call and a voyage: the laytime clock, the documents that move with the cargo, the fuel that powers the ship and the speed it sails.
Bill of Lading (B/L)
The document that acts as receipt for cargo, evidence of the contract of carriage, and (when negotiable) document of title.
Bunkers
The fuel a ship burns and, by extension, the act of taking on that fuel (bunkering). Usually the single largest voyage cost.
Demurrage
A daily penalty the charterer pays the owner for using more than the agreed laytime to load or discharge.
Despatch
A payment back to the charterer for completing cargo operations in less than the allowed laytime: the mirror of demurrage.
Laytime
The time allowed under the charter party for the charterer to load and discharge the cargo without extra payment.
Notice of Readiness (NOR)
The formal notice that a ship has arrived and is ready to load or discharge, which starts the laytime clock.
Ship-to-Ship Transfer (STS)
The transfer of cargo directly between two vessels moored alongside, often at anchor or offshore rather than at a terminal.
Slow Steaming
The practice of sailing deliberately below design speed to cut fuel consumption, emissions and effective fleet supply.
Where these terms show up on The Maritime
About these definitions. Plain-English reference definitions of standard shipping concepts: our own explanations, not legal advice. Each term page opens with the definition, explains how the concept works and links to the desk where The Maritime measures it. The first entry is Bill of Lading (B/L).
Glossary last reviewed: .