Before breaking bulk (BBB). Freight is normally payable on delivery of the cargo. In the usually volatile tanker market with many traders coming in as charterers, many may be unknown to shipowners.
Baltimore Berth Grain Charterparty (Form C) (BALTIMORE FORM C) (BFC). A general purpose voyage charterparty originally published in 1913 and adapted in 1971. There is a general feeling in shipbroking circles that the BFC is not very good but it is still in common use for full cargoes of grain from the U.S. and Canada to all parts of the world.
Block coefficient. The block coefficient of a vessel is obtained by dividing the underwater volume of displacement of a ship by the volume of a block of the same length and breadth, and of height equal to the draught of the ship. The block coefficient depends upon the “lines” of the ship. Passenger vessels with fine lines have a lower block coefficient than cargo ships with full lines. The abbreviation for Block Coefficient is generally given as Cb.
Bills of Lading Act 1855. Different countries have enacted legislation to protect holders of bills of lading generally from carriers, who were mainly shipowners in the 19th century and who would attempt to avoid any liability for loss of or damage to goods belonging to the holders of the bills of lading.
Ballast bonus (BB). It may occur that charterers, in order to attract tonnage agree to pay a certain ballast bonus. The ballast bonus serves as a compensation and incentive for the ballast (empty) trip from the ship's last port of discharge to the port where the charter will commence, for example, the first place of loading under a voyage charter or the point of delivery under a time charter. It is more common under time charters, especially in a good market when charterers are unable to obtain ships easily or at a low rate of hire.
Broken stowage. This refers to space not occupied by cargo iii a cargo compartment or even in a container. It can be caused by fittings in the ship, such as car decks in a ro ro vessel or web frames in a cargo hold. It can also be caused by the nonuniform shape of the cargo pieces themselves, such as the spaces around protrusions in heavy machinery or between curved casks.
Breach of warranty of authority. An agent can make contracts between his principal and a third party. When he does this he "warrants" (or "promises" to the third party) that he has authority to carry out the act. When an agent, for example, a shipbroker, acts without any authority from his principal or exceeds the authority given to him, there is no contract and the principal is not bound. The agent can then become liable to one, or both, of the parties to the presumed contract for the breach of the warranty of authority.
Bunkers on delivery and redelivery. This "bunker clause" in a time charterparty stipulates that charterers shall accept and pay or all coal or fuel oil in the vessel's bunkers at port of delivery and, conversely, owners shall take over and pay for all coal or fuel ail in the vessel's bunkers at the port of redelivery at the current price at the respective ports. It is customary to agree upon a certain minimum and maximum quantity of bunkers on redelivery of the vessel (NYPE time charterparty).
Bunker clauses. "Bunkers" is the fuel energy used by a ship. This can include different grades and types of fuel oil used for different purposes. It can also include coal. In charterparties there are a number of clauses dealing with bunkers. BIMCO has issued, supported or recommended certain "Bunker clauses" that should be inserted in charterparties. These are listed below: