Maritime & Ship Management Glossary
Ship management, chartering, class and compliance — the terms behind vessel operations, from charter parties and dry-docking to ISM, SOLAS and MARPOL.
27 terms in this category
106 terms total
B
Bareboat CharterDemise Charter
A charter where the charterer takes a vessel without crew or provisions and operates it as if owner.
Bunker
The fuel oil used by a ship's engines; "bunkering" is the act of refuelling.
C
Charter Party
A contract under which a shipowner hires out a vessel to a charterer for the carriage of cargo.
CIICarbon Intensity Indicator
The IMO's mandatory rating of a ship's operational carbon intensity, A (best) to E (worst).
Classification Society
A non-governmental organisation that surveys ships to verify they meet construction, equipment and operational standards.
COAContract of Affreightment
A long-term contract committing a shipowner to carry a series of cargoes over a defined period.
D
Demise Charter
A synonym for bareboat charter — the charterer takes the vessel without crew and operates as if owner.
Dry Dock
A specialised dock that can be drained of water so a ship's hull can be inspected and worked on out of the water.
F
FDAFinal Disbursement Account
The final statement of port-call costs, reconciled against actuals, replacing the proforma DA.
H
H&MHull and Machinery Insurance
Marine insurance covering physical damage to the ship's hull, machinery, and equipment.
I
IACSInternational Association of Classification Societies
The association of the 12 major classification societies that collectively classify 90%+ of world tonnage.
IMOInternational Maritime Organization
The UN agency responsible for international shipping safety, security, and environmental performance.
ISM CodeInternational Safety Management Code
The mandatory IMO standard for the safe management and operation of ships.
ISPS CodeInternational Ship and Port Facility Security Code
The mandatory IMO security framework for ships and port facilities, introduced after 9/11.
L
Lay-canLaydays / Cancelling Date
The agreed window during which a vessel must arrive at the load port to be acceptable under a charter.
Laytime
The time allowed in a charter party to load or discharge a vessel before demurrage applies.
M
MARPOLInternational Convention for the Prevention of Pollution from Ships
The IMO treaty regulating pollution from ships — oil, chemicals, sewage, garbage, air emissions.
MLC 2006Maritime Labour Convention
The ILO convention establishing minimum working and living conditions for seafarers, often called the "seafarers' bill of rights".
O
Off-hire
The period during which a time-chartered vessel is not earning hire because of an event outside the charterer's control.
P
P&IProtection and Indemnity Insurance
Third-party liability insurance for shipowners, covering cargo damage, crew injury, pollution, and other risks not covered by hull insurance.
PMSPlanned Maintenance System
A computerised system for scheduling and tracking maintenance tasks across a vessel's machinery and equipment.
Port DAPort Disbursement Account
The statement of all port-call costs that a ship agent collects from the shipowner or operator.
S
SOLASSafety of Life at Sea
The IMO's most important treaty, regulating minimum safety standards for commercial ships worldwide.
STCWStandards of Training, Certification and Watchkeeping for Seafarers
The IMO convention setting minimum training and certification standards for ship's crew worldwide.
T
Time Charter
A charter where the charterer hires a vessel for a defined period, paying a daily hire rate.
V
VGMVerified Gross Mass
The mandatory verified total weight of a packed container, required before it can be loaded aboard a vessel.
Voyage Charter
A charter where the shipowner is paid to carry a specific cargo on a specific voyage between named ports.
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