Results for category "Shipping Terminology"

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Glossary of Shipping Terms – Part-1

Glossary of Shipping Terms

Description of Shipping Terms is shown below:

Act of God

Accidents’ of a nature beyond human control such as flood Lighting or hurricane considered as “Force Majeure”.

American Bureau of Shipping

American Classification society which has established rules and regulations for the classification of seagoing vessels and other equipments.

Banker Adjustment Factor

Abbreviation  B.A.F.

Adjustment applied to offset the effect of fluctuation in the cost of bankers.

Balespace

The balespace of a vessel is the capacity of cargo spaces under deck expresseBd in cubic metres or cubic feet.

Ballast

Materials, generally water, solely carried to improve the trim and the stability of the vessel.

Bare Boat Charter

A demise charter whereby charterer has the right to place his own crew on board of the vessel.

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