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.
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.
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.
Consortium. A group of shipowners may agree to offer their ships to an organisation formed by the members of the group for the organisation (the "consortium") to operate. "Shipping pools" are one form of consortia, generally operating in the tramp shipping, bulk trades. In liner trades, liner conferences fulfil much the same function except that each member company operates its ship independent of a centralised control organisation. In chartering practice, the administration organisation of a consortium or shipping pool can charter ships in or -out as necessary to carry out its cargo commitments or earn acceptable revenue.
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".
Concentrates. This is a material in small particle form which results from a processing of natural ore. The main hazard associated with concentrates is that moisture entrained in the particles may settle out and the surface reach a nearly fluid state which will affect the ship’s stability if the cargo shifts. Moreover, some concentrates, such as iron concentrates produced when iron is crushed dry, contain sulphur so that if concentrates become damp the sulphur reacts with the oxygen in the surrounding air to produce heat. Compartments containing concentrates should not be ventilated in order to reduce the oxygen content.
Cover note. A contract of marine insurance concluded when the proposal of the assured is accepted by the insurer, whether the policy is then issued or not. For the purpose of showing when the proposal was accepted, reference may be made to the slip or cover note or other customary memorandum of the contract, although it may be unstamped.