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Laytime
In commercial shipping, laytime is the amount of time allowed in a voyage charter for the loading and unloading of cargo. Under a voyage charter or time charter, the shipowner is responsible for operating the vessel, and the master and crew are the employees of the shipowner, not the charterer. However, once the vessel has "arrived" at a port the charterer then assumes responsibility for the loading and unloading of cargo, having a period of laytime in which to carry this out. (Note that the actual loading may be performed by a third-party stevedore). The moment when laytime commences is determined by a Notice of Readiness (or "NOR"), which the master or agent of the ship must give to the port when the ship has arrived at the port of loading or discharge. The charterparty contract determines the precise meaning of "arrival". Usually, "arrival" is when the ship has arrived at the port and is ready in all respects to load or discharge; but it may be, say, when the ship has passed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demurrage
The term "demurrage" from Old French ''demeurage'', from ''demeurer'' – to linger, tarry – originated in vessel chartering and referred to the period when the charterer remained in possession of the vessel after the period normally allowed to load and unload cargo (laytime). By extension, demurrage refers to the charges that the charterer pays to the ship owner for its delayed operations of loading/unloading.Maritime Knowhow website: GENCON Clause 7 Officially, demurrage is a form of liquidated damages for breaching the laytime as it is stated in the governing contract (the charter party). The demurrage sometimes causes a loss to the seller as it increases cost of the total freight. The inverse of demurrage is despatch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Voyage Charter
Chartering is an activity within the shipping industry whereby a shipowner hires out the use of their vessel to a charterer. The contract between the parties is called a charterparty (from the French ''"charte partie"'', or "parted document"). The three main types of charter are: demise charter, voyage charter, and time charter. The charterer In some cases a charterer may own cargo and employ a shipbroker to find a ship to deliver the cargo for a certain price, called freight rate. Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China), in Worldscale points (in case of oil tankers) or alternatively may be expressed in terms of a total sum - normally in U.S. dollars - per day for the agreed duration of the charter. A charterer may also be a party without a cargo who takes a vessel on charter for a specified period from the owner and then trades the ship to carry cargoes at a profit above the hire rate, or even makes a profit in a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chartering (shipping)
Chartering is an activity within the Maritime transport, shipping industry whereby a ship-owner, shipowner hires out the use of their vessel to a charterer. The contract between the parties is called a charterparty (from the French ''"charte partie"'', or "parted document"). The three main types of charter are: demise charter, voyage charter, and time charter. The charterer In some cases a charterer may own cargo and employ a shipbroker to find a ship to deliver the cargo for a certain price, called freight rate. Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China), in Worldscale points (in case of oil tankers) or alternatively may be expressed in terms of a total sum - normally in U.S. dollars - per day for the agreed duration of the charter. A charterer may also be a party without a cargo who takes a vessel on charter for a specified period from the owner and then trades the ship to carry cargoes at a profit above the hire r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charter Party
A charterparty (sometimes charter-party) is a maritime contract between a shipowner and a "charterer" for the hire of either a ship for the carriage of passengers or cargo, or a yacht for pleasure purposes. Charter party is a contract of carriage of goods in the case of employment of a (charter boat). It means that the charter party will clearly and unambiguously set out the rights and responsibilities of the ship owner and the charterers and any subsequent dispute between them will be settled in the court of law or any agreed forum with reference to the agreed terms and conditions as embodied in the charter party. The name "charterparty" is an anglicisation of the French ''charte partie'', or "split paper", i.e. a document written in duplicate so that each party retains half. Types of charterparty There are three main types of charterparty: time, voyage and demise and another. * In a demise (or bareboat) charter, the charterer takes responsibility for the crewing and mainten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suisse Atlantique Societe D'Armament SA V NV Rotterdamsche Kolen Centrale
''Suisse Atlantique Societe d'Armament SA v NV Rotterdamsche Kolen Centrale'' 9671 AC 361 is a landmark English contract law decision of the House of Lords, concerning the notions of fundamental breach of contract and inequality of bargaining power. It was subsequently upheld by another House of Lords case, '' Photoproductions v Securicor'', and together these two cases form the definitive statement of the common law prior to the Unfair Contract Terms Act 1977. Facts The case involved a two-year time charter to export coal from Europe to the USA. The ship was to make as many trips as possible, and the owners were to be paid an agreed freight rate according to the amount of cargo carried. If the laytime were exceeded, the charterers were to pay demurrage of $1000 per day. Serious delays occurred because the charterers had difficulty both in getting cargo to the port, and in loading and unloading efficiently. Nevertheless, the shipowner did not cancel the contract, but allowed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shipping
Freight transport, also referred as ''Freight Forwarding'', is the physical process of transporting Commodity, commodities and merchandise goods and cargo. The term shipping originally referred to transport by sea but in American English, it has been extended to refer to transport by land or air (International English: "carriage") as well. "Logistics", a term borrowed from the military environment, is also used in the same sense. Modes of shipment In 2015, 108 trillion tonne-kilometers were transported worldwide (anticipated to grow by 3.4% per year until 2050 (128 Trillion in 2020)): 70% by sea, 18% by road, 9% by rail, 2% by inland waterways and less than 0.25% by air. Grounds Land or "ground" shipping can be made by train or by truck (British English: lorry). In air and sea shipments, ground transport is required to take the cargo from its place of origin to the airport or seaport and then to its destination because it is not always possible to establish a production f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stevedore
A stevedore (), also called a longshoreman, a docker or a dockworker, is a waterfront manual laborer who is involved in loading and unloading ships, trucks, trains or airplanes. After the shipping container revolution of the 1960s, the number of dockworkers required declined by over 90%. Etymology The word ''stevedore'' originated in Portugal or Spain, and entered the English language through its use by sailors. It started as a phonetic spelling of ''estivador'' (Portuguese) or ''estibador'' (Spanish), meaning ''a man who loads ships and stows cargo'', which was the original meaning of ''stevedore'' (though there is a secondary meaning of "a man who stuffs" in Spanish); compare Latin ''stīpāre'' meaning ''to stuff'', as in ''to fill with stuffing''. In Ancient and modern Greek, the verb στοιβάζω (stevazo) means pile up. In the United Kingdom, people who load and unload ships are usually called ''dockers''; in Australia, they are called ''dockers'' or ''wharfies''; and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Captain (nautical)
A sea captain, ship's captain, captain, master, or shipmaster, is a high-grade licensed mariner who holds ultimate command and responsibility of a merchant vessel.Aragon and Messner, 2001, p.3. The captain is responsible for the safe and efficient operation of the ship, including its seaworthiness, safety and security, cargo operations, navigation, crew management, and legal compliance, and for the persons and cargo on board. Duties and functions The captain ensures that the ship complies with local and international laws and complies also with company and flag state policies. The captain is ultimately responsible, under the law, for aspects of operation such as the safe navigation of the ship,Aragon and Messner, 2001, p.4. its cleanliness and seaworthiness,Aragon and Messner, 2001, p.5. safe handling of all cargo,Aragon and Messner, 2001, p.7. management of all personnel,Aragon and Messner, 2001, p.7-11. inventory of ship's cash and stores,Aragon and Messner, 2001, p.11-12. an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anticipatory Repudiation
Anticipation is an emotion involving pleasure or anxiety in considering or awaiting an expected event. Anticipatory emotions include fear, anxiety, hope and trust. When the anticipated event fails to occur, it results in disappointment (if positive event) or relief (if negative event). As a defence mechanism Robin Skynner considered anticipation as one of "the mature ways of dealing with real stress.... You reduce the stress of some difficult challenge by anticipating what it will be like and preparing for how you are going to deal with it". There is evidence that "the use of mature defenses ( sublimation, anticipation) tended to increase with age", yet anticipation of negative events itself tends to decrease with age. Desire "Anticipation is the central ingredient in sexual desire." As "sex has a major cognitive component — the most important element for desire is positive anticipation". One name for pleasurable anticipation is excitement. More broadly, anticipation is a ce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Damages
At common law, damages are a remedy in the form of a monetary award to be paid to a claimant as compensation for loss or injury. To warrant the award, the claimant must show that a breach of duty has caused foreseeable loss. To be recognised at law, the loss must involve damage to property, or mental or physical injury; pure economic loss is rarely recognised for the award of damages. Compensatory damages are further categorized into special damages, which are economic losses such as loss of earnings, property damage and medical expenses, and general damages, which are non-economic damages such as pain and suffering and emotional distress. Rather than being compensatory, at common law damages may instead be nominal, contemptuous or exemplary. History Among the Saxons, a monetary value called a ''weregild'' was assigned to every human being and every piece of property in the Salic Code. If property was stolen or someone was injured or killed, the guilty person had to pay the wer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Mihalis Angelos
''Maredelanto Compania Naviera SA v Bergbau-Handel GmbH'' or ''The Mihalis Angelos'' 970EWCA Civ 4is an English contract law case, concerning breach of contract. Facts ''The Mihalis Angelos'' was fixed to sail to Haiphong and there load a cargo for delivery in Europe. In the charterparty dated 25 May 1965 the shipowners ("the owners") stated that the ship was "expected ready to load under this charter about July 1, 1965". The charterparty also provided, in the first sentence of the cancelling clause, "Should the vessel not be ready to load (whether in berth or not) on or before July 20, 1965, charterers have the option of cancelling this contract, such option to be declared, if demanded, at least 48 hours before vessel's expected arrival at port of loading". On 17 July 1965 the ship was at Hong Kong, still discharging cargo from her previous voyage. It was physically impossible for her to finish discharging and reach Haiphong by 20 July. The charterers gave notice cancelling ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquidated Damages
Liquidated damages, also referred to as liquidated and ascertained damages (LADs), are damages whose amount the parties designate during the formation of a contract for the injured party to collect as compensation upon a specific breach (e.g., late performance). This is most applicable where the damages are intangible, such as a failure by the contractor on a public project to fulfill minority business subcontracting quotas. An average of the likely costs which may be incurred in dealing with a breach may be used. Authority for the proposition that averaging is the appropriate approach may be taken from the case of ''English Hop Growers v Dering'', 2 KB 174, CA (1928). When damages are not predetermined/assessed in advance, then the amount recoverable is said to be "at large" (to be agreed or determined by a court or tribunal in the event of breach). The purpose of a liquidated damages clause is to increase certainty and avoid the legal costs of determining actual damages later if ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
