Chartering Befrachtung · Noleggio
The negotiation and conclusion of contracts for carrying cargo by sea. The chartering broker brings cargo and shipping space together and agrees the freight terms.
Maritime Glossary
The terms of short-sea chartering – clearly explained
Shipbroking runs on precise language. This glossary explains the key terms of chartering and short-sea shipping – a reference for shippers, charterers and everyone working with GIMAR.
48 maritime terms
Contract & Charter Types
Charter Party (C/P) Charterpartie · Charter Party
The carriage contract between shipowner and charterer. It governs cargo, ports, rates, laytime and liability; widely used standard forms are issued by bodies such as BIMCO.
Bill of Lading (B/L) Konnossement · Polizza di carico
The ocean transport document issued by the carrier. It serves at once as a receipt for the cargo, as evidence of the contract of carriage and – as a document of title – as a negotiable instrument representing the goods.
Voyage Charter Reisecharter · Noleggio a viaggio
A charter for a single, defined voyage from load to discharge port. The owner bears the running costs; payment is per tonne of cargo or as a lumpsum.
Time Charter (T/C) Zeitcharter · Noleggio a tempo
Hiring of the vessel for a fixed period against a daily rate (hire). The charterer directs the commercial employment and pays bunkers and port costs; the owner provides crew and technical operation.
Period Time Charter Noleggio a tempo per periodo
A time charter over a longer, firmly agreed period (months to years). In low-rate markets a lever to secure tonnage cheaply.
Trip Time Charter (TCT) Trip-Charter · Noleggio a tempo per viaggio
A time charter limited to a single voyage or round trip – a hybrid of time and voyage charter.
Bareboat Charter Bareboat-Charter · Noleggio a scafo nudo
Hire of the "bare" vessel without crew or equipment. The charterer takes on manning, insurance and operation and effectively acts as a disponent owner.
Contract of Affreightment (COA) Contract of Affreightment · Contratto di trasporto (COA)
A volume contract to carry a defined quantity of goods in several part shipments over a period, without naming a specific vessel. Secures a cargo base and underpins plannable utilisation.
Spot Market Spot-Markt · Mercato spot
Short-term single business at current daily rates, usually as a voyage charter. High flexibility, but full exposure to market-price swings.
Fixture Fixture (conclusione)
The binding conclusion of a charter. "Fixed" means owner and charterer have agreed all main terms.
Cargo & Freight Types
Freight / Freight Rate Fracht / Frachtrate · Nolo
The payment for carrying the cargo, usually per tonne or as a lumpsum. The freight rate is the central price in the chartering business.
Dry Bulk Trockenmassengut · Rinfuse secche
Loose, unpackaged dry cargo carried in bulk – such as grain, fertiliser, coal, ore or scrap.
General Cargo / Breakbulk Stückgut · Merce varia / Breakbulk
Individually handled, packaged or unitised cargo (pallets, bundles, cases, steel products) – as opposed to loose bulk or containerised cargo.
Project Cargo Projektladung · Carichi di progetto
Large, complex and often oversized single consignments such as plant components, machinery or wind-power parts, requiring individual stowage and transport planning.
Heavy Lift Schwergut · Carichi pesanti
Particularly heavy single units requiring special cranes or heavy-lift vessels – a special case of project cargo.
Agribulk Agrarmassengut · Rinfuse agricole
Agricultural bulk goods such as grain, oilseeds, animal feed or fertiliser – an open short-sea segment beyond steel logistics.
Dangerous Goods (IMDG) Gefahrgut · Merci pericolose (IMDG)
Cargo with particular hazard potential, governed by the IMO's IMDG Code. Requires special declaration, stowage and documentation.
Stowage Factor Staufaktor · Fattore di stiva
The volume that one unit of weight of a cargo occupies in the hold (e.g. m³/t). It determines whether a vessel is limited by weight or by volume – key to utilising general and bulk cargo.
Laytime & Port Operations
Laytime Liegezeit · Stallia
The time agreed in the contract that the charterer has for loading and discharging without incurring additional charges.
Laycan
From "laydays/cancelling": the window within which the vessel must arrive ready to load. If she arrives after the cancelling date, the charterer may cancel the charter.
Demurrage Überliegegeld · Controstallia
Compensation the charterer pays the owner when the agreed laytime is exceeded.
Despatch Eilgeld · Premio di celerità (despatch)
A bonus the owner pays the charterer for loading or discharging faster than the agreed laytime – the counterpart to demurrage.
Notice of Readiness (NOR) Notice of Readiness
The master's formal notice that the vessel has arrived ready to load. With a valid NOR, laytime generally starts to run.
Free In/Out (FIO) Free In/Out
A freight clause under which loading and discharging costs fall not on the owner but on the charterer/shipper. Variants: FIOS (incl. stowing), FIOST (incl. stowing & trimming).
Vessel Types & Technical
Multipurpose Vessel (MPP) Multipurpose-Frachtschiff · Nave multipurpose (MPP)
A versatile cargo ship for different cargo types – general, bulk, project and heavy-lift cargo. The classic workhorse of European short-sea shipping.
Coaster Nave costiera (coaster)
A small coastal motor cargo ship for short-distance trades, typically with shallow draught for rivers, canals and small ports.
Deadweight Tonnage (dwt) Tragfähigkeit · Portata lorda (dwt)
The total weight in tonnes a vessel can carry (cargo, bunkers, stores, ballast). The key measure of transport capacity.
Gross Tonnage (GT) Bruttoraumzahl · Stazza lorda (GT)
A measure of a ship's total enclosed volume. Basis for fees, manning and regulatory classifications – not to be confused with deadweight (dwt).
Gearless / Geared Senza/con gru di bordo
"Geared" describes ships with their own cranes, "gearless" those without. Gearless ships rely on shore cranes but are often cheaper and simpler.
Ice Class Eisklasse · Classe ghiaccio
Reinforced construction allowing operation in ice-covered waters (e.g. the northern Baltic in winter). It raises build and running costs and is not needed in every trading area.
Tween Deck Zwischendeck · Ponte intermedio (tween deck)
A retractable or fixed intermediate deck in the hold that improves stowage of sensitive or mixed cargo – typical of MPP ships.
Ballast / Ballast Voyage Ballast / Ballastreise · Zavorra / viaggio in zavorra
An empty voyage without cargo, where ballast water provides stability. Ballast voyages incur cost without freight income and are minimised in routing.
Market & Commercial
Short Sea Shipping Kurzstreckenseeverkehr · Trasporto marittimo a corto raggio
Sea transport over shorter, mostly intra-European distances (Baltic, North Sea, Mediterranean, Black Sea) rather than across the oceans. GIMAR's core business.
Time Charter Equivalent (TCE) Time Charter Equivalent
A measure of the daily earnings of a voyage after deducting voyage costs (bunkers, port, canals). It makes voyage and time charters comparable.
Bunker / Bunkering Combustibile / rifornimento (bunkering)
Ship fuel, or the taking on of fuel. Bunker cost is one of the largest and most volatile items in the voyage calculation.
Forward Freight Agreement (FFA) Forward Freight Agreement
An exchange-traded forward contract on future freight rates. Used to hedge against rate swings or as a "second opinion" on the market.
Shipowner Reeder · Armatore
The owner of the vessel, who operates or charters it out. Depending on the contract type, bears the technical and/or commercial responsibility.
Operator Operatore
A party that commercially employs ships (often chartered in) and carries the market risk between tonnage bought and cargo sold.
Commercial Management Kommerzielles Management · Gestione commerciale
The commercial steering of a vessel on behalf of an owner: chartering, rate negotiation, scheduling and cargo acquisition – without the technical management risk.
Shipbroker Schiffsmakler · Mediatore marittimo
An independent intermediary between owners, charterers and shippers who arranges and concludes charter or sale contracts against commission.
Position / Tonnage List Positions-/Tonnageliste · Lista delle posizioni/tonnellaggio
An overview of available ships with position, open date and size. The basis of the daily matching of tonnage and cargo.
Commission (Brokerage & Address Commission) Provision · Provvigione
Brokerage is the shipbroker's commission for arranging the fixture (typically 1.25–2.5% of freight or hire). Address commission, by contrast, is a deduction the charterer retains for itself.
Regulation & Organisations
BIMCO
The Baltic and International Maritime Council – the largest international shipping association. It issues recognised standard charter parties; GIMAR is a member. (Wikidata Q801437)
FONASBA
The Federation of National Associations of Ship Brokers and Agents – the international umbrella body of shipbrokers and agents, setting professional standards.
EU ETS (Shipping) EU-ETS (Schifffahrt) · EU-ETS (settore marittimo)
The EU Emissions Trading System, which has covered maritime shipping since 2024. It raises the cost of carbon-intensive tonnage and makes efficient eco ships more competitive.
FuelEU Maritime
An EU regulation that from 2025 limits the greenhouse-gas intensity of the energy used on board. It reinforces the advantage of low-consumption and alternatively powered ships.
IMO
The International Maritime Organization – the UN specialised agency for the safety, environmental protection and regulation of international shipping.
Source: Wikidata Q140091196
