Fixture Recap
Successful conclusion of the negotiations between ship-owner and charterer, generally through shipbrokers, resulting in the charter of a ship.
LAYTIME
Time allowed by the ship-owner to the voyage charterer in which to load and / or discharge the cargo. It is expressed as a number of days or hours or as a number or tons per day. There is normally a provision in the Charter-Party for the commencement of lay-time
PMT, PCBM, PWM
Per Metric Tons, Per Cubic Meter or Per Weight Measurement, which is the method used to determine the loaded quantity (either tons or CBM which is higher to be used).
Stowage Factor
Cubic space occupied by one ton.
ETA
Estimated Time of Arrival.
ETD
Estimated Time of Departure.
ETS
Estimated Time of Sailing.
ETC
Estimated Time of Completion.
NOR
Notice of Readiness.
FILO
Free In/Liner Out. Sea freight with which the shipper pays load costs and the carrier pays for discharge
FIOS
Free In/Out Stowed. As per FIO, but includes stowage costs.
FIOT
Free In/Out and Trimmed. As per FIOS but includes trimming - the leveling of bulk cargoes
FIOSLSD
Free In/Out Stowed, Lashed, Secured and Dunnaged. As per FIO, but includes cost of lashing securing and dunnaging cargo to Masters satisfaction.
FIOST
Free In/Out and Trimmed. Charterer pays for cost of loading/discharging cargo, including stowage and trimming.
LIFO
Liner In/Free Out. Sea freight with which the ship owner pays load costs and the shipper pays for discharge .
FLT
Full Liner Terms - Ship-owner pays to load and discharge the cargo