Bagging of cargo. A charterparty may contain a clause, which stipulates that if the charterers load grain in bulk, they must supply to the master on his request sufficient empty bags to be used to collect any grain, which was spilled, and any grain that remained in the cargo space after discharge.

Bills of lading and charterparties. In exercising the authority to sign bills of lading the charterers, agents and masters must ensure that the terms within the bill of lading are consistent with those in the charterparty that require a bill of lading to be signed and issued.

BALTIME. A Uniform standard form time charter published by BIMCO. In 1974 another edition included a box type format for main details and descriptive text for the clauses. BALTIME generally favours the shipowners' side and contrasts the NYPE, the New York Produce Exchange Form of time charter, which tends to favour the charterer's side.

 

Barratry. Under the U.K. Marine Insurance Act 1906 the term barratry includes every wrongful act willfully committed by the master or crew to the detriment of the owners or charterers, as the case may be.

Baltic International Freight Futures Index (BIFFEX). The dry cargo tramp charter market is usually volatile. Both shipowners and cargo interests may be uncertain about movements in the freight rates. BIFFEX allows shippers, shipowners and charterers to "hedge" against changes in freight rates by buying or selling "future" contracts at an expected price. If, for example, in March, it is expected that freight rates for a particular route will rise by October, the price per contract unit for settlement in October will be higher than the March BIFFEX.

 

Breadth moulded. This expression relates to the maximum breadth of a ship measured amidships between the outside (heels) of the frames, i.e. to the inside of shell plating.

Baltic Freight Index (BFI). Twelve frequently fixed routes were chosen and daily reports of actual fixtures (or estimates from a broker panel) on these routes calculated, using a weighted average system, into a statistical index. The weighting indicates the frequency of fixtures on that route.

 

Both ends (Bends). This expression is frequently used when negotiating for the chartering of a ship, as regards rate of loading and discharge; loading and discharging expenses; appointment of charterers' or owners' agents at port of loading/discharge, etc. This term implies that the arrangements agreed upon apply both at the loading and discharging port(s).

BBB. "Before breaking bulk", that is, before commencing discharge or opening of the ship's hatches.

Bill of lading identifier. In the United States the Customs authorities require that all shipping documents covering cargo imported into the U.S. be marked with an identity code, identifying the issuer of tile bill of lading.

Bonded stores. Ship’s stores which can be delivered under special arrangements direct from a bonded warehouse to the vessel without payment of Customs duties.

 

Breakbulk (cargo) (BB). Packages of cargo or "parcels" (small quantities) known as "general cargo" and individually carried in the cargo compartments of a ship. Such cargo is not in "bulk cargo" form and not in unitised or containerised form. If the term is used as a verb "to break bulk", it indicates "to open hatches and commence discharge".

 

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