Maritime Shipping history and Classifications

1.Maritime Shipping history at a glance

From time immemorial, people wanted to involve with trading activities at sea. As such when people had started to contemplate carriage of goods and merchandise from one country to another, from one region to another, and from one continent to another continent, then the idea of “Shipping” emerged in their mind. In the early days when Airways and Railways were not invented, the traders used rowing boats and then at later stage sailing boat to carry their merchandise from one country to another. With the continuous development of international trade and technology over the years, the mode of transportation of cargo by sea has developed notably i.e from sailing boat to modern motor ship.

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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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