Exam (elaborations)
CHARTERING AND BROKERAGE MIDTERM QUESTIONS AND ANSWERS
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CHARTERING AND BROKERAGE MIDTERM QUESTIONS AND ANSWERS
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Name: Score:141 Multiple choice questions
Term 1 of 141
SHEX
Brings parties together
To be named
Private and confidential
Sundays and holidays excluded
Term 2 of 141
WLTHC
Wolves lurk through the thick cornfields
Walls lean towards the top of the hill
Water lint to top of hatch coaming
Wind blows the top of house ceiling
Term 3 of 141
Gross Tonnage
Based on internal space
Not done on purpose
Whoever has title to cargo pays
commercial contract
carriage contract
Includes cargo and trading exclusion
,Term 4 of 141
Hull Insurance
Used during discharge to record checked pressure on pumps
Sole responsibility is to provide a seaworthy vessel
Whoever has title to cargo pays
commercial contract
carriage contract
Covers ship itself
shipowner wants this
must agree with insurance about how much hull is worth (market value)
over insurance : tempted to sink ship
under insurance : will cover most of the damage
Term 5 of 141
A/E
Knot/not
Right/write
Accept/Except
Wail/quail
Term 6 of 141
Do you need to calculate discharge laydays?
Cost of loading goods onto vessel, does not include cost of shipping
No, only loading.
20 - 39 , <20
not done on purpose
,Term 7 of 141
Insurance Companies Subjugation of Rights
Companies stand in the place of the parties (admiralty marine insurance)
Insurance firms dominate individual freedoms (maritime insurance)
Businesses control civil rights (ship insurance)
Corporations replace personal liberties (naval insurance)
Term 8 of 141
Liner Carriage - Common/Public
- Set Schedule
- Little to no negotiation
- Anyone can partake
Terms of carriage are in the B/L
is not underlying commercial contract for cargo itself
Displacement
-Light Ship
=DWAT
-Anything but cargo (fuel, lube oil, stores @cole blake)
=DWCC
Owner
Term 9 of 141
Checker
make sure boxes go in the correct slot and nothing gets damaged
oversee the maintenance of the port facilities
negotiate contracts with shipping companies
operate heavy machinery to load cargo
, Term 10 of 141
Liner Terms are who's expense?
Lender
Owner
Charterer
Manager
Term 11 of 141
In the absence of a set reply time, how long does an offer remain valid?
until the next full moon
for 30 days
for a reasonable time (can be accepted and form a contract)
until the end of the day
Term 12 of 141
Iron Ore Size
60 ft^3/lt
10ft^97/lt
2000 lbs
10ft^3/LT
Term 13 of 141
Terms of carriage
Cost of loading goods onto vessel, does not include cost of shipping
cargo that cannont be accessed (think corners of grain silo)
Used to measure cargo that came onboard
is not underlying commercial contract for cargo itself
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