Flag of Registry. The flag which is displayed usually on the stern of the vessel is like an indicator or "badge" of the vessel's national identity or nationality.
Full and down. A vessel is said to be “full and down” when loaded in such a way that upon sailing she is down to her loadline marks-each winter, summer or tropical loadline whilst the cargo space has been fully utilised. Unless rates of freight for heavy and light cargo vary considerably, best results, from a revenue standpoint, are obtained by loading a ship full and down. To achieve this result, a proper ratio between light and heavy cargo must be determined, which depends on the type and quantity of cargo available.
Full terms. If an order circulating in the freight market is subject to "full terms" this implies that in addition to the usual commissions, owners may have to allow certain reductions, which are customary in the trade in question. It is therefore important to ascertain in advance what percentage will have to be deducted from the rate of freight in order to have a clear picture of the position.
This expression also implies that despatch money will be due for any time saved in loading and discharging.
FONASBA. The Federation of National Associations of Shipbrokers and Agents. This organisation was established in 1969 and comprises national (usually European) associations of shipbrokers and agents who deal with a wide variety of agency work, such as liner agency, port agency and shipbroking for the chartering of and sale and purchase of ships. In 1989, 22 national associations belonged to FONASBA.