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Day

November 15, 2022

What is LAYCAN?

LAYCAN-The term “laycan” is frequently used in sale contracts to refer to the delivery period of the cargo. However, “laycan” is a charterparty term, referring to the period during which the vessel must arrive at port.

Ο όρος “laycan” χρησιμοποιείται συχνά στα συμβόλαια πώλησης για να αναφέρεται στην περίοδο παράδοσης του φορτίου. Ωστόσο, ο όρος «laycan» είναι ένας όρος ναύλωσης, που αναφέρεται στην περίοδο κατά την οποία το πλοίο πρέπει να φτάσει στο λιμάνι.

Термин «лейкан» часто используется в договорах купли-продажи для обозначения срока доставки груза. Однако «лейкан» — это термин чартера, относящийся к периоду, в течение которого судно должно прибыть в порт.

The International Group “IG”

The International Group “IG”

Οι Δεκατρεις μεγαλυτεροι και διασημοτεροι Οργανισμοι ιδρυσαν ενα Ομιλο που εκπροσωπει και ενεργει για τα μελη του σε πολλα επιπεδα οπως φαινεται στο ακολουθο:

Τhe thirteen P&I Clubs which comprise the International Group (the “Group”) between them provide marine liability cover (protection and indemnity) for approximately 90% of the world’s ocean-going tonnage.
Through the unique Group structure, the member Clubs, whilst individually competitive, share between them their large loss exposures, and also share their respective knowledge and expertise on matters relating to shipowners liabilities and the insurance and reinsurance of such liabilities.
Each Group Club is an independent, not-for-profit mutual insurance association, providing cover for its shipowner and charterer members against third party liabilities arising out of the use and operation of ships. Each Club is owned by its shipowner and charterer members, and its operations and activities are overseen by a board of directors, or committee, elected from the membership. The day-to-day operations of the Clubs are handled by professional managers, either “in-house” or external, who are appointed by and report to their Club board/committee.
The Clubs cover a wide range of liabilities, including loss of life and personal injury to crew, passengers and others on board, cargo loss and damage, pollution by oil and other hazardous substances, wreck removal, collision and damage to property. The Clubs also provide a wide range of services to their members including claims handling, advice on legal issues and loss prevention, and they regularly play a leading role in coordinating the response to, and management of, maritime casualties.

Shipping Abbreviation-N-O-P-


SHIPPING ABBREVIATION -N-O-P-

NMD: Norwegian Maritime Directorate
NOR: Notice of readiness
NRT: Net register tonnage
NYPE: New York Produce Exchange
OBO: Ore/bulk/oil vessel
OCIMF: The Oil Companies International Marine Forum: OCIMF is a voluntary association of oil companies having an interest in the shipment and terminalling of crude oil and oil products.
OO: Owners option
OPA 90: The Oil Pollution Act of 1990, a US law imposing far-reaching requirements on shipowners, vessels and crews when carrying petroleum products to the US and within the US Economic Zone (200 miles off the coastline). Introduced after the Exxon Valdez accident
OSH: Open shelter deck
OWS: Owners
OWS: Oily water separator
P&I: Protection and indemnity (Responsibility insurance for the shipowner).
PASTUS: Past Us
PC: Period of charter
PCC: Pure car carrier (vessel type)
PCGO: Part cargo
PCT: Percent
PCTC: Pure car and truck carrier (vessel type)
PDA: Pro forma disbursement account
PDPR: Per day or pro rata (for part of a day)
PG: Persian Gulf
PHPD: Per hatch per day
PMS: Port marine services
Pooling: Cargo or profit sharing by cooperating companies in lines or liner conferences ppm: parts per million (1 ppm = 0,000001 or 1 mg/kg)
PS&L: Port service & logistics which includes the product lines PMS, Liner, Logistics and HUB
PUS: Plus us
PWWD: Per weather working day

Free In (FI) / Free Out (FO) Conditions of Carriage

Free In (FI) / Free Out (FO) Conditions of Carriage

Aerial front view of a loaded container cargo vessel traveling over calm ocean.

FIOS (FREE IN, OUT, STOWED) :

It is most important to remember that the “Free” reference is viewed from the Ship Owners point of view – not the Shipper’s. Some Shippers get caught out when they read the word “Free” as they incorrectly believe that it refers to them.

Freight rates quoted on a FIOS basis specifically exclude all aspects relating to cargo handling operations. The ship is only responsible for expenses arising as a result of the ship calling into the port, i.e. tugs, pilots and light dues etc. Another very important consideration when booking cargo on FIOS terms is that the ship does not bear any responsibility for the speed of loading or discharging.

Usually the rate agreed includes a fixed “free” period of time for loading/discharging operations, after which time a daily demurrage is incurred. Obviously this is of paramount importance where port congestion or stevedoring performance is uncertain. There are many overseas ports which fall into this category and particularly where vessel demurrage rates can vary significantly, depending on the size and type of ship nominated to undertake the particular project.

 

Document-LOI (Letter of Indemnity)

A letter of indemnity (LOI) is a document which the shipper indemnifies the shipping company against the implications of claims that may arise from the issue of a clean Bill of Lading when the goods were not loaded in accordance with the description in the Bill of Lading.

Η επιστολή αποζημίωσης (LOI) είναι ένα έγγραφο με το οποίο ο αποστολέας αποζημιώνει τη ναυτιλιακή εταιρεία έναντι των συνεπειών των αξιώσεων που μπορεί να προκύψουν από την έκδοση καθαρής φορτωτικής όταν τα εμπορεύματα δεν φορτώθηκαν σύμφωνα με την περιγραφή στη φορτωτική .

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