Professional shipbroking ethics. BIMCO publishes "Recommended Principles for the Use of Parties Engaged in Chartering and Ship's Agency Procedures" and the Baltic Exchange also publishes a "Code of Ethics".

Panama Canal tonnage. This is tonnage measured according to rules published by the United States Government from 1912 under authority delegated by the Panama Canal Company. The main purpose of the special measurement system is to establish criteria, which determine the owner’s liability to pay fees for Panama Canal transits.


Protest.  A letter of protest or note of protest may be given by the master to various parties such as shippers, charterers, or stevedores, who engage in activities which are unacceptable to the master.


Present position. The line in the charterparty stating the vessel's present position (and possibly the "Expected ready to load" date) is of importance to the charterer in order that he can assess the vessel's future readiness to receive the cargo. Accordingly, he will be able to make the necessary arrangements for handling the cargo.


Pratique. This is permission from the port health authorities for a ship to come into and to use a port.

Port charter. A voyage charter is a contract to carry goods from a loading port or a range of ports to an agreed destination.

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