Exam (elaborations)
CHARTERING AND BROKERAGE FINAL QUESTIONS AND ANSWERS
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CHARTERING AND BROKERAGE FINAL QUESTIONS AND ANSWERS
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Name: Score:108 Multiple choice questions
Definition 1 of 108
trading two things at the same time
Subject Charter Party Details
Subject Open
Subjects
Subject Management Or Board Approval
Definition 2 of 108
- COA has a scheduling clause and is with many ships
- Voyage charter has reguated laydays
Free In Gross Discharge
Contract of Affreightment
Expressed vs Implied Contracts
COA vs Spot Voyage Charter
Definition 3 of 108
Government imposed dues (lighthouses)
Requirement Contract
Fas
Light Dues
Subject Rescheduling
,Definition 4 of 108
Charterer pays the owner for failing to utilize the full capacity of the cargo space that was
reserved
Laytime
Contract Of Affreightment
Deadfreight
Cif
Definition 5 of 108
Free on board. Seller gets the cargo on the ship.
EXWORKS
CIF
FAS
FOB
Definition 6 of 108
demmurrage, deadfreight, freight
Requirement Contract
Brokers get commission on
Arbitration Hubs
Advantages to owning a ship
,Definition 7 of 108
time used for L/D.
Calculated using statement of facts.
Time charter
Time used
Fully fixed
Market share
Definition 8 of 108
Allows the cargo to be picked up by whoever has it
To Order BoL
Equations To Know
Iwl
Straight Bol
Definition 9 of 108
Owner is responsible for fuel costs, canal tolls, port charges, load/discharge costs, despatch.
Charterer's cargo will be taken from port to port at a set rate per unit.
Bareboat Charter
Voyage Charter
Draft Survey
Charter Carrier
, Definition 10 of 108
Hull
Cargo
P&I (Protection and Indemnity) - covers more situations with liabilities such as injuries or oil
spills
15 Major Types of Insurance
statute of frauds
3 Major Types of Insurance
4 Major Types of Insurance
Definition 11 of 108
Free-in-and-out (FIO), loading and discharging paid by the charterer
Most voyage charters are
Gross Load Free Out
Norwegian Sales Form
Statement of Facts (SOF)
Definition 12 of 108
Compensation for relatively long ballast voyage.
Cost of fuel + Time on the ship
Ballast Bonus
Top Wharfage
Voyage Charter
Backhaul Cargos
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