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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 ...
A ship prefix is a combination of letters, usually abbreviations, used in front of the name of a civilian or naval ship that has historically served numerous purposes, such as identifying the vessel's mode of propulsion, purpose, or ownership/nationality.
Abaft (preposition): at or toward the stern of a ship, or further back from a location, e.g. "the mizzenmast is abaft the mainmast". [1]Aboard: onto or within a ship, or in a group.
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 ...
International DTD is a service provided by many international shipping companies and may feature intermodal freight transport using containerized cargo. The quoted price of this service includes all shipping, handling, import and customs duties, making it a hassle-free option for customers to import goods from one jurisdiction to another. This ...
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.
Net register tonnage (NRT, nrt, n.r.t.) is a ship's cargo volume capacity expressed in "register tons", one of which equals to a volume of 100 cubic feet (2.83 m 3).It is calculated by subtracting non-revenue-earning spaces i.e. spaces not available for carrying cargo, for example engine rooms, fuel tanks and crew quarters, from the ship's gross register tonnage.