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Cartel. This is a price-fixing body formed of providers or suppliers of goods or services. A liner conference can be considered to be a cartel to fix the freight rates.

 

Collision Liability. Around the middle of the 19th century, hull underwriters decided to extend the hull and machinery policy to embrace legal liabilities incurred by the assured in consequence of collision between the insured ship and any other ship or vessel. Liabilities resulting from contract with anything other than another ship or vessel were excluded from the cover, as were loss of life or personal injury.

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 leasing. Containers may be offered for carriage of goods by the carriers themselves or the carriers may not actually own the containers, rather leasing them from lessors. Other parties, such as shippers, may also wish to lease a container. Therefore the containers can be owned by the ocean carriers, the lessors and also other transport operators, such as railway companies, shippers C themselves and large freight forwarders.

Contractual liabilities. Liabilities incurred under contracts necessary for the normal operation of a ship, such as towage contracts, indemnities to port authorities, indemnities to stevedoring companies.

CIM. The full, French name for this international Convention which relates to the carriage of goods by rail is “Convention Internationale Concernant le Transport des Marchandises par Chemin de Fer”. The CLM Convention applies mostly to intermodal transport in Europe. The contract of carriage under the CIM is the “CIM consignment note”, similar to a bill of lading for ocean carriage.

 

Cleaning. When an oil tanker or chemical tanker carries one cargo, it must usually be cleaned before the next cargo and also to reduce the "clingage" and residues on the parts of the ship's structure inside the cargo spaces.

Costs and expenses. Legal, technical or otherwise, incurred in investigating, defending, or pursuing a claim against which a member is covered by the club may also be payable by the club.

Colliery turn. This refers to the order in which vessels are taken into the loading and/or discharging berth. This may change the requirements for the commencement of laytime.

CY (Container yard). This is the container base from where the carriage will commence or where the ocean carriage ends. It is usually in the container port facility and is under the control of the ocean carrier. 

The CY can also be under the control of other carriers, for example, at a railway yard or at an airport.

 

Charterparty. This is the document that contains the details of the charter or contract. While the shipowner and charterer are called the "parties to the charter", the word "party" in "charterparty" originates from the old Latin phrase for the contract to use a ship.

Charter. The contract to carry goods by sea or to hire or lease or use a ship. "To charter" means to enter into the contract. The contract can be for a period of time ("time charter" or "bareboat charter") or for one or more voyages ("voyage charter").

 

Centre of buoyancy (B). This is the geometric centre of the under water shape or volume of a floating object. The buoyancy force provided by the liquid in which the object floats acts vertically upwards through B.

 

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