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Parties adopting Incoterms should be wary about their intention and variations. The desire of the parties should be expressed clearly and casual adoption should be refrained. Also, making additions or variations to the meaning of a certain term should be carefully done as parties' failure to use any trade term at all can produce unexpected results.
These operations are carried out in accordance with guidelines set out by the latest Oil Companies International Marine Forum and the International Chamber of Shipping (ICS), with the strictest adherence to safety regulations. These are the industry guidelines which are part of the contractual commitment between the ship owner and the STS ...
Cranes on a LoLo vessel Flora Delmas, a LoLo vessel Container with a crane on it. Lift-on/lift-off (LoLo, sometimes LOLO, LO/LO or Lo/Lo) [1] ships are cargo ships with on-board cranes to load and unload cargo.
Dockers loading bagged cargo. FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce.
When the cargo is being shipped by several different shipping companies on the same vessel, there will usually be separate bills of lading for each company, but only a single consolidated cargo manifest. On the other hand, if the cargo contains dangerous goods, there may be a separate dangerous cargo manifest. A manifest can be exchanged for ...
Also ship's magazine. The ammunition storage area aboard a warship. magnetic bearing An absolute bearing using magnetic north. magnetic north The direction towards the North Magnetic Pole. Varies slowly over time. maiden voyage The first voyage of a ship in its intended role, i.e. excluding trial trips. Maierform bow A V-shaped bow introduced in the late 1920s which allowed a ship to maintain ...
The Standard Carrier Alpha Code, a two-to-four letter identification, is used by the transportation industry to identify freight carriers in computer systems and shipping documents such as Bill of Lading, Freight Bill, Packing List, and Purchase Order.
Wind turbine towers being unloaded at a port Stevedores on a New York dock loading barrels of corn syrup onto a barge on the Hudson River.Photo by Lewis Hine, circa 1912. In shipping, break-bulk, breakbulk, [2] or break bulk cargo, also called general cargo, are goods that are stowed on board ships in individually counted units.