The costs of a vessel’s technical operation, crewing, insurance and maintenance, but excluding costs of financing.

The maximum that may be carried by a vessel in tonnes by way of cargo, stores, fresh water, fuel etc. to take vessel up to its appropriate marks. Usually the dwt quoted is maximum summer dwt in sea water and the full scantling rather than the design dw

Penalty imposed upon the charterer for voyages that exceed loading/discharging time allowed in accordance with the Charterparty.

Less refined of the oil products such as fuel oil.

Remuneration payable by shipowner to charterer, shipper or receiver for loading/discharging in less than the time allowed according to the charter-party.

A space used for ballast water - and in older ships for bunkers - that lies directly between the bottom of a cargo tanks or holds and the outer hull for the entire length and breadth of the cargo tanks or holds.

A double hulled vessel has both a double bottom and a double side.

A space used for ballast water that lies between the cargo tanks or holds and the outer hull for the entire length and height of the cargo tanks or holds.

Generic term for the bulk market.

A ship carrying general cargoes or sometimes bulk cargo.

A dock space where a vessel may be constructed, repaired, maintained or inspected out of water.

Deadweight ton. A measure expressed in metric tons (1,000 kg) or long tons (1,016 kg) of a ship’s carrying capacity, including bunker oil, fresh water, crew and provisions. This is the most important commercial measure of the capacity.