Conference freight tariff. The word “tariff” describes a list of prices or charges of carriers providing a transport service such as carriage by sea. The conference freight tariff is such a list of freight rates uniformly charged by the members of the conference.

Clear day. This usually means that the day on which the Notice of Readiness is given and the day on which the notice period expires are not included in the notice period. In this situation the expression refers only to the notice period.

Containerisation system. Containers are not new. From earliest times human beings have used objects designed to hold other things. Even nature did this before man thought of it. The egg is an obvious example. The use of containers in shipping is also not new. Jars for oil and wine were used thousands of years ago.

Cargo oil pump (COP). This is a pump used on board tankers for discharging cargo and loading or discharging ballast. The pumps are usually located at the bottom of the pump room and can be of various types, e.g., the centrifugal turbine type or the steam driven reciprocating, duplex type.

 

Carriage of Goods by Sea Act (COGSA). Such legislation is introduced by countries to make uniform rules for the carriage of goods by sea, usually under bills of lading. The legislation generally implements the Hague or Hague-Visby Rules and applies only to hills of lading and waybills and this is stated in the "Clause Paramount" in the charterparty. Examples of legislation are: the U.K. Carriage of Goods by Sea Act 1971 and the Carriage of Goods by Sea Act of the United States (1936).

Charterer's agents. In charterparties covering a fixture on an f.i.o. (free in and out) basis, which implies that the loading and discharging expenses are for the charterer's account, charterers often insist upon the right to appoint their agents to attend to the ship's business at "both ends" (i.e., loading and discharging ports) at a fee.

Convenient speed. The stipulation in a voyage charterparty that the vessel, after completion of loading, shall proceed with all possible speed to port of destination, is usually changed into "with all convenient speed" or "with all reasonable speed" The latter expression eliminates any controversy, which may arise about the speed actually maintained on the voyage.

Combination carrier. Fundamentally, this is a vessel designed to carry either liquid or dry bulk cargoes. If a vessel is a specialist vessel, for example, only carrying crude oil, there is a disadvantage to the shipowner because the vessel would have to be ballasted on one leg of each passage.

Closing date. The closing date for a vessel is the latest date for delivery of goods for shipment on board the vessel. This expression is generally used in the sailing schedules or advertisements of regular liner services.

 

CAF (Currency adjustment factor). Liner conferences are fundamentally international in character. The member lines are based in different countries and their domestic revenue and expenses figures will generally be in their own currencies.