Maritime Wording

CHAPTER TEN SHIPPING TERMINOLOGY FOR BUSINESS “WORDING”

1. AOP Actual Operational Performance of a Vessel taking into consideration (1) one year or 365 days and it is given in percentage (%) indicating ship´s devaluation for age. 1 b. LAY TIME It means the days for loading and unloading operations which charterers expect to have - In Spanish it is called (tiempo de plancha) 2. LAY DAYS Itmeans the days to estimate the arrival of the vessel; i.e.: Lay Days since April 22nd till May 3rd, 1993. 3. LAY CAN It means the last day or cancelling day that the vessel expects to arrive. 4. ETA: Estimated time of arrival 5. ETD: Estimated time of Departure 6. ETS : Estimated time of shipped 7. AAAA: Always Afloat, Always Accessible 8. AAR : Against All Risk 9. ALL : All Included 10. AQ : AnyQuantity 11. ASAP : As Soon As Possible 12. ADVAL: AD Valorem 13. BB : Ballast Bonus 14. BDI : Both Dates Included 15. BE :Both Ends 16. B/L :Bill of Lading 17. CANCL : Cancelling 18. CHTRS: Charterers 19. COS : Cash on Shipment 20. DEM :Demurrage 21. DRC : Daily Running Cost 22. DWC :Dead Weight Cargo 23. DWCC : Dead Weight Cargo Capacity 24. FAC : Fast As Can 25. FO :Firm Offer 26. FYG :For YourGuidance 27. GASAAABE: Good Always Safely Accessible Always Afloat Both Ends 28. GD : Geared 28 LOA : Length Over All 29 L/S : Lumpsum 30. - MOL: More Or Less 31. - MOLCHOP: More Or Less Charter Option 32. -MOLOO: More Or Less Owner Option 33. - O/A: Open Account 34.-O/D: On Deck 35.-OO: Owner Option 36. - OR: Owner Risk 37.-OSP: On Safe Port 38.-PD: Port Dues 39. - POC: Port Of Calls 40.-PUT: PortUtilization Tax 41. - RD: Running Days 42. - RGDS: Regards 43. - R B/L: Releasing Bills of Lading 44.-SBBE: Safe Berth Both Ends 45.-SF: Stowage Factor 46.-S B/L: Signing Bills of Lading 47. - SOL: Shipowners`Liability 48.-SP: Safe Port 49. - SD: Self Discharge

50. - SUB: Subject 51. - UU: Unless Used 52. - BERTH TERMS: Alongside Vessel 53.-HTUTC: Half Time Use to Count 54. - FI/LO: Free InLiner Out 55. - LI/FO: Liner in Free Out 56. - LI/LO: Liner in Liner Out 57. - CIF: Cost Insurance Freight 58. - FIOST: Free In and Out Stowage and Trimmed 59. - WPAGW: Weather Permitting All Going Well 60. - B/C: Bulk Carrier 61. - COA: Contract of an Affreightment 62. - L/S/D/T: Lashed Secure Dunnage Tallied 63.-SUB APPR BY CHARTRS: Subject to be Approval by Charterers 64. - T/S: Tanker Ship65.-T/V: Tanker Vessel 66. - C/S: Container Ship 67. - FRT: Freight Rate 68. - GSP/SB: Good Safe Port Safe Basses 69. - N/T: Net Terms 70. - G/T: Gross Terms 71. - Offer O/M: Offer in Open Market 72.-Offer S/M: Offer in Spot Market 73. - OOS: Owner Option Substitute 74. - DAP: Day All Purpose 75. - ATUTC: All Time Use To Count 76. - FTTC: Full Time to Count 77. - COB: Closing Office Bz 78. - To Pursuit:Follow in, looking for 79. - In Pursuit of: Hunting on 80, - Pursuant: Researching Continuously 81. - Demurrage /Dispatch: FIO Condition 82. -Detention /Premium: LI/LO Condition *(In this case Charterers use to protect themselves by means of a PENALTY CLAUSE in a Voyage Chater Party due to nonfulfilment of the contract)* * It was taken from the Book (Chartering and Shipping Terms) by J. Bes,Tenth Edition, Page # 61 * 83. - VAOCLONL: Vsl And Or Cargoes Lost or Not Lost 84. - S/R B`S/L: Signed & realising Bills of Lading 85. - O/C HATCHES: Opening & Closing Hatches 86. - A L / C: A Letter of Credit 87. - IDLE TIME: Running Time without Working 88. - WIPON: Whether in Port or Not 89.-WIFPON: Whether in Free Platica or Not 90. - WIBON: Whether in Berth or Not 91. - TENDER: Extensive it to92. - STEM: Subject to Enough Merchandise 93.-LTS: Lay Time Saved 94. - INGOTS: Piece of Steel or Iron or Gold. 95. - ORT: Orinoco River Tools (Tax) 96. - MORS TONS /L OR /S: Moorson Tons Long or Short 97. - ISRL: 0.9% of the Freight. It is a (Venezuelan Income Tax) 98. - C / E = B / L: It Covers Contract Merchandise 99. - WOG: Whether on Guarantee 100. - LIFO: LINER IN FREE OUT; Shipowner pays...