Free surface effect. A tank which is completely filled with liquid is said to be pressed up”, while one which is not is called a “slack tank”.

FIATA Bill of Lading. FIATA is the acronym for the International Federation of Forwarding Agents Associations and is based in Zurich, Switzerland.

Certificate of free pratique. This is a certificate from the port-health-authorities that the ship is without infectious disease or plague on board and therefore permitted to enter port and to allow people to board and disembark.

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.

Fixture. To "fix" a ship is to determine or settle a contract (the Charterparty) for its employment. "Fixture" is the word that indicates the contract has been made and the negotiations to charter the ship have been concluded.

 

Feeder services. When a liner operator provides carriage of goods by sea from major ports, he may not be able to call in at smaller, less busy ports to pick up or drop cargo.

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.

 

Force majeure clause. This expression covers events which are completely unforeseeable and which excuse both sides to a contract from carrying out their obligations under the contract.

FCL (Full container load). This expression refers to a consignment from a shipper which will occupy the entire container. The freight rates are generally lower for FCL shipments compared to LCL or “Less than container load” (i.e., break bulk cargo) that has to be loaded into a container.

 

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.

Freight. Simply, this means the price payable to the carrier for carrying cargo in a good condition and delivery to the owner of an interest in the cargo.

Fully declared. This is a floating policy in which the total of the amounts reaches the agreed limit. The floating policy comes to an end when it is fully declared.

 

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