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AD Valorem - means 'at value'. A rate or tax on the freight based on the value of goods. Aframax - An Aframax ship is an oil tanker with capacity between 80,000 metric tons of deadweight (DWT) and 120,000 DWT. Aframax class tankers are largely used in the basins of the Black Sea, the North Sea, the Caribbean Sea, the China Sea and the Mediterranean. Non-OPEC exporting countries may require the use of Aframax tankers because the harbors and canals through which these countries export their oil are too small to accommodate very-large crude carriers (VLCC) and ultra-large crude carriers (ULCCs). The term is based on the Average Freight Rate Assessment (AFRA) tanker rate system. Allision - The act of striking or collision of a moving vessel against a stationary object. Alongside - A phrase referring to the side of a ship. Goods delivered "alongside" are to be placed on the dock or barge within reach| of theup for email Log in Sign transport ship's tackle so that they can be loaded. alerts. Articles of Agreement - The document containing all particulars relating to the terms of agreement between the Master of the vessel and the crew. Also known as ship's or shipping articles. Astern - A backward direction in the line of a vessel's fore and aft line; behind. If a vessel moves backwards it is said to move astern; opposite to ahead. Ballast - Heavy substances loaded by a vessel to improve stability, trimming, sea-keeping and to increase the immersion at the propeller. Sea water ballast is commonly loaded in most vessels in ballast tanks, positioned in compartments right at the bottom and in some cases on the sides, called wing tanks. On a tanker, ballast is seawater that is taken into the cargo tanks to submerge the vessel to a proper trim. Baltic Dry Index (BDI) - Is a number issued daily by the London-based Baltic Exchange. The index provides "an assessment of the price of moving the major raw materials by sea. Taking in 26 shipping routes measured on a timecharter and voyage basis, the index covers Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain." Baltic Exchange - A self regulated London exchange serving worldwide interests. It is the world's premier maritime market for ship chartering and sale and purchase. The Exchange publishes a range of market information and freight derivatives price settlements. Bare Boat - Is an arrangement for the hiring of a boat, whereby no crew or provisions are included as part of the agreement; instead, the people who rent the boat from the owner are responsible for taking care of such things. There are legal differences between a bareboat charter and other types of charter arrangement, such as crewed or luxury yacht charter, commonly called time or voyage charters. In a voyage or time charter the charterer charters the ship (or part of it) for a particular voyage or for a set period of time. In these charters the charterer can direct where the ship will go but the owner of the ship retains possession of the ship through its employment of the master and crew. In a bare-boat or demise charter, on the other hand, the owner gives possession of the ship to the charterer and the charterer hires its own master and crew. The bare-boat charterer is sometimes called a "disponent owner". The giving up of possession of the ship by the owner is the defining characteristic of a bare-boat or demise charter. Barge - Flat-bottomed boat designed to carry cargo on inland waterways, usually without engines or crew accommodations. Barges can be lashed together and either pushed or pulled by tugs, carrying cargo of 60,000 tons or more. Small barges for carrying cargo between ship and shore are known as lighters. Barge Carriers - Ships designed to carry either barges or containers exclusively, or some variable number of barges and containers simultaneously. Currently this class includes two types of vessels, the LASH and the SEABEE. Barrel- a standard unit of liquid volume in the petroleum industry equal to 42 U.S. gallons. B/d- Barrels per day (measure of petroleum production). Beam - The width of a ship. Also called breadth. Beneficial Ownership - Designates the owner who receives the benefits or profits from the operation. Berth Cargo - When a liner cargo vessel accepts extra cargo to fill up the empty space remaining. Bill of Lading - A document by which the Master of a ship acknowledges having received in good order and condition (or the reverse) certain specified goods consigned to him by some particular shipper, and binds himself to deliver them in similar condition, unless the perils of the sea, fire or enemies prevent him, to the consignees of the shippers at the point of destination on their paying him the stipulated freight. A bill of lading specifies the name of the master, the port and destination of the ship, the goods, the consignee, and the rate of freight. Boilers - Steam generating units used aboard ship to provide steam for propulsion (and) for heating and other auxiliary purposes. Bow - The front of a vessel. Breakbulk - The process of assimilating many small shipments into one large shipment at a central point so that economies of scale may be achieved; to commence discharge of cargo. Breakbulk Vessel - The process of assimilating many small shipments into one large shipment at a central point so that economies of scale may be achieved; to commence discharge of cargo. Bridge - Used loosely to refer to the navigating section of the vessel where the wheel house and chart room are located; erected structure amidships or aft or very rarely fore over the main deck of a ship to accommodate the wheelhouse. Bulk - Cargo shipped in loose condition and of a homogeneous nature. Cargoes that are shipped unpackaged either dry, such as grain and ore, or liquid, such as petroleum products. Bulk service generally is not provided on a regularly scheduled basis, but rather as needed, on specialized ships, transporting a specific commodity. Bulk Carrier - Ship specifically designed to transport vast amounts of cargoes such as sugar, grain, wine, ore, chemicals, liquefied natural gas; coal and oil. See also LNG Carrier, Tanker, OBO Ship; There are various ways to define the term bulk carrier. As of 1999, the International Convention for the Safety of Life at Sea defines a bulk carrier as "a ship constructed with a single deck, top side tanks and hopper side tanks in cargo spaces and intended to primarily carry dry cargo in bulk; an ore carrier; or a combination carrier." However, most classification societies use a broader definition where a bulker is any ship that carries dry unpackaged goods. Multipurpose cargo ships can carry bulk cargo, but can also carry other cargoes and are not specifically designed for bulk carriage. The term "dry bulk carrier" is used to distinguish bulkers from bulk liquid carriers such as oil, chemical, or liquefied petroleum gas carriers. Very small bulkers are almost indistinguishable from general cargo ships, and they are often classified based more on the ship's use than its design. A number of abbreviations are used to describe bulkers. "OBO" describes a bulker which carries a combination of ore, bulk, and oil, and "O/O" is used for combination oil and ore carriers. The terms "VLOC," "VLBC," "ULOC," and "ULBC" for very large and ultra large ore and bulk carriers were adapted from the supertanker designations very large crude carrier and ultra large crude carrier. Bunkers - Fuel for a vessel. The type will vary depending upon the propulsion mode of the vessel. Steamships will use a heavy fuel oil, disuse use a range of fuels from heavy to light, and gas turbines generally use kerosene. Capesize - Capesize ships are cargo ships originally too large to transit the Suez Canal (i.e., larger than both panamax and suezmax vessels). To travel between oceans, such vessels used to have to pass either the Cape of Good Hope or Cape Horn. Vessels this size can now transit the Suez Canal as long as they meet the draft restriction (18.91m as of 2008) Capesize vessels are typically above 150,000 long tons of deadweight (DWT), and ships in this class include VLCC and ULCC

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