Closed conference. This type of liner conference restricts membership in order to protect the members’ market share. It is the most common type of conference.

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.

Colliery scale. Scale rates can be incorporated into a charterparty depending on the place of loading. These are rates, which are set by organisations, which publish standard-form- charterparties after discussion with shipowners and collieries at the ports of loading. The scale rates also contain rates for demurrage.


Brokerage (or Commission). It is customary to express the remuneration for the broker's time and efforts in negotiating and arranging the contract as a certain percentage of the money earned by the shipowner. (In marine insurance, the broker is generally paid a commission by the underwriter although the assured is the broker's client and the services are for the client.) In shipbroking, the term "brokerage" is generally preferable instead of "commission" because the latter term is usually related to the charterer's reward as "address commission".

Container slot management (CSM). The objective of this management in a liner operator’s corporate plane is to achieve the best utilisation factors of the container spaces or slots available on-board the carrier’s own vessels. The revenue is increased by the volume of the goods carried. If slot space cannot be found in the carrier’s vessels, the carrier may use “vessel sharing arrangements” (VSA) with other carriers under which slots on-board vessels are reserved for fellow carriers.


Container sizes. The sizes of containers depend mainly on their external dimensions, so that, for example, a container can be an ISO standard “Series 1 Freight container, Rating 1AA” with external dimensions of 40 feet (length) x 8 feet (width) x 8 feet 6 inches (height). The dimensions are used in either imperial or metric units. Although much of the world has become metricated, the “box” or container is still referred to by its imperial units, for example, a FEU is a forty-foot equivalent unit (of space occupied).

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.

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.

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.

Container flow management (CFM). This expression is related to container logistics. This approach to logistics involved the management of the fleet of containers themselves, not the fleet of container vessels and the spaces (or “slots”) on board the vessels. The management also involves the movement of a container from one point to another without consideration of the actual mode of transport. The traditional carrier thus becomes a true “transport organiser”.


Containers and bills of lading. With the advent of containerisation and also intermodalism, much cargo is being carried in containers, especially smaller consignments which can be carried on a "door-to-door" service.