Terms used in shipping such as Barge,BARGE CARRIERS,Barter,Base Cargo,Bay number,Beam,Belly Cargo,Belt Line etc

 

Terms used in shipping such as Barge,BARGE CARRIERS,Barter,Base Cargo,Bay number,Beam,Belly Cargo,Belt Line etc.

 

This post explains about terms used in shipping such as Bareboat Charter,Bareboat Charter-Party,Barge,BARGE CARRIERS,Barter,Base Cargo,Bay number,Beam,Belly Cargo,Belt Line etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.

 

Terms used in shipping

 

Banque Quest-Africaine de Developpement - See: West African Development Bank.

 

bar - Sand bank that forms at the mouths of rivers and that often limits the type of ships that are able to reach up-river destinations.

 

Bareboat Charter - The hiring or leasing of a ship for a period of time during which the shipowner provides only the ship while the charterer provides the crew together with all stores and bunkers and pays all operating costs. This type of charter is favored by persons or companies who wish to own a ship for investment purposes but who do not have the desire or expertise to operate the ship. Similarly, it is favored by persons or companies who have a particular requirement for a ship and the expertise with which to operate one but without the wish or ability to purchase. A ship hired out in this way is said to be on bareboat charter. Also referred to as a demise charter or a charter by demise.

 

BAREBOAT CHARTER:(1) A charter in which the bare ship is chartered without crew; the charterer, for a stipulated sum taking over the vessel for a stated period of time, with a minimum of restrictions; the charterer appoints the master and the crew and pays all running expenses. See Demise Charter (2) Vessel contracts where charterers take over all responsibility for the operation of the vessel and expenses for a certain period.

 

Terms used in shipping such as Barge,BARGE CARRIERS,Barter,Base Cargo,Bay number,Beam,Belly Cargo,Belt Line etcBareboat Charterer - Person or company who charters a ship for a period of time, provides crew, bunkers and stores and pays all operating costs. Also known as a demise charterer or charterer by demise.

 

Bareboat Charter-Party - Document containing the contract between the owner of a ship and the demise charter, and signed by both, in which are all the terms and conditions such as the period of the charter, the rate of hire, the trading limits and all the rights and responsibilities of the two parties. Also referred to as a demise Charter-Party.

 

Barecon 'A' - Standard bareboat Charter-Party published by BIMCO.

 

Barecon 'B' - Standard bareboat Charter-Party used for newbuildings financed by mortgage, published by BIMCO.

 

BARGE ABOARD CATAMARAN:A way of loading cargo into large barges and then in turn loading the barges into a ship.

 

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.

 

barge: A large, flat-bottomed boat used to carry cargo from a port to shallow-draft waterways. Barges have no locomotion and are pushed by towboats. A single, standard barge can hold 1,500 tons of cargo or as much as either 15 railroad cars or 60 trucks can carry. A barge is 200 feet long, 35 feet wide and has a draft of 9 feet. Barges carry dry bulk (grain, coal, lumber, gravel, etc.) and liquid bulk (petroleum, vegetable oils, molasses, etc.).

 

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.

 

Barratry:An act committed by the master or mariners of a vessel, for some unlawful or fraudulent purpose, contrary to their duty to the owners, whereby the latter sustain injury. It may include negligence, if so gross as to evidence fraud.

 

Barrel (BBL):A term of measure referring to 42 gallons of liquid at 60? degrees F. 15?C.

 

BARs - Buy American Restrictions

 

Barter - Trade in which merchandise is exchanged directly for other merchandise or services without use of money.

 

BAS - Caribbean/Central America Business Advisory Service

 

Base Cargo - Minimum quantity of cargo required by a shipping line to make it worthwhile to call at a particular port of loading.

 

base cargo - Relatively heavy cargo stowed at the bottom of a hold to provide a ship with stability when at sea or a minimum quantity of cargo required by a shipping line for calling at a port for loading.

 

Base Rate - Basic rate of freight of a shipping line or liner conference onto which are added, or on which are calculated, the various surcharges such as the currency adjustment factor or bunker surcharge.

 

Base Rate:A tariff term referring to ocean rate less accessorial charges, or simply the base tariff rate.

 

Basel Convention - "The Basel Convention restricts trade in hazardous waste, some non-hazardous wastes, solid wastes, and incinerator ash. It was adopted in 1989 by a United Nations-sponsored conference of 116 nations in Basel, Switzerland. Twenty nations must ratify the tr"

 

Bay number: The row position of the container on the vessel. The containers are numbered from stem to stern: 01, 02, 03......

 

BB - Ballast Bonus - Sum of money paid by a time charterer to a shipowner in recognition of the fact that the shipowner is unlikely to find a cargo near to the place of redelivery of the ship at the end of the period of the charter and is therefore obliged to ballast his ship elsewhere.

 

BB- Ballast Bonus (Special payment above the Chartering price when the ship has to sail a long way on ballast to reach the loading port.). Bareboat (Method of chartering of the ship leaving the charterer with almost all the responsibilities of the owner.). Breakbulk (packaged cargo that is not containerized).

 

BBB - Before Breaking Bulk - A condition of carriage that freight, or some percentage of it, becomes payable before breaking bulk (discharge of a vessel commences).

 

BCEA - Banque Centrale des Etats de l'Afrique de l'Ouest

 

BCIE - Banco Centroamericano de Integracion Economico

 

BCIU - Business Council for International Understanding

 

BCO:Abbreviation for "Beneficial Cargo Owner." Refers to the exporter or importer of record, who has a tangible interest in the cargo. Typically holds title to the goods

 

BCS - Border Cargo Selectivity

 

BD – Bundle.

 

BDEAC - Banque de Developpement des Etats de l'Afrique Centrale

 

BDEGL - Banque de Developpement des Etats du Grand Lac

 

BEAC - Banque des Etats de l'Afrique Centrale

 

Beam:The width of a ship.

 

Bearer of a Bill of Ladinq - Person who tenders the Bill of Lading to the ship at the place of discharge in exchange for the goods. Bills of lading are often made out to bearer.

 

BEEC - Border Environment Cooperation Commission

 

BEET - Business Executive Enforcement Team

 

Belgium-Luxembourg Economic Union - "BLEU (French: UEBL, from Union Economique Belgo-Luxembourgeoise), established in July 1921, introduced a system of monetary association between Belgium and Luxembourg."

 

Belly Cargo - It is a term for freight accommodation below the main deck.

 

BELLY CARGO:Freight accommodation below the main deck.

 

Belt Line:A switching railroad operating within a commercial area.

 

Bends - Both Ends - At both loading and discharging ports. This term is often used together with GSAAAAB (good safe always afloat always accessible berth), with OSP (one safe port), with OSB (one safe berth) and to qualify the prices of the bunkers on delivery and redelivery in a time charter. Also used to state agency determination (ex. Carrier's agents bends).

 

The above details describes about terms called in shipping such as as Bareboat Charter,Bareboat Charter-Party,Barge,BARGE CARRIERS,Barter,Base Cargo,Bay number,Beam,Belly Cargo,Belt Line etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in shipping business below this post.Terms used in shipping such as Baltime,BANCOMEXT,Bank Guarantee,Bank Guarantee,Banker's Acceptance etc

 

Related posts about free online training on overseas trade:

 

What is crystallization of export bills? How does delinking of export bills work?
Liquidation of Bank pre shipment finance to exporters
Running account facilities for bank export finance
Pre shipment bank finance to suppliers for exports through other agencies
Conditions to get export loans from banks to sub suppliers
Are construction projects eligible for Bank pre shipment loan?
Bank Packing credit to exporters of Floriculture, Grapes and Other Agro-based Products
What is Bank post shipment credit to exporters?
Period of post shipment credit by bank to exporters
Bank finance to exporters as pre shipment finance
Click here to go back to INDIAN BUDGET 2014-2014 highlights
Excise and Customs - Click here to read complete notification under Budget 2014
Service Tax - Click here to read complete notification under Budget 2014 How to import your product?
Click here to know HS code of your product
12 Major risks and solutions in Imports and Exports
Different types of export containers
How to get GSP certificate of origin in India?
Types of export containers
Foreign Trade Policy of India 2015-20


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers