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It is important to note that these terms are generally not suitable for shipments in shipping containers; the point at which risk and responsibility for the goods passes is when the goods are loaded on board the ship, and if the goods are sealed into a shipping container it is impossible to verify the condition of the goods at this point.
Container ships are cargo ships that carry their entire load in truck-sized containers, in a technique called containerization. They form a common means of commercial intermodal freight transport . Informally known as "box boats," they carry the majority of the world's dry cargo.
The term break bulk derives from the phrase breaking bulk—the extraction of a portion of the cargo of a ship or the beginning of the unloading process from the ship's holds. These goods may not be in shipping containers. Break bulk cargo is transported in bags, boxes, crates, drums, or barrels.
The term "free on board", or "f.o.b." was used historically in relation to the transfer of risk from seller to buyer as goods are shipped. [1] There appears to have been an assumption that property and risk would pass from the seller to the buyer at the same time.
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. Ships with cranes or other cargo handling equipment on-board are also termed geared vessels.
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In a time-charterparty or voyage-charterparty, if the charterer is shipping his own cargo (rather than the cargo of a third party) he will receive a bill of lading from the master, acting as agent of the shipowner; but that B/L will serve solely as a receipt and document of title, and its terms will (subject to contrary intent) be secondary to ...
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