Spot market. When a shipowner or vessel operator wishes to use the vessel for tramping services, on voyage charters only, he is said to offer his ship on the spot market.

Shippers’ councils.  When liner conferences were formed they represented the ocean carriers and whether or not they exercised monopoly power, they still presented a negotiating group that had strong bargaining power.

Sub-letting. It is customary to stipulate in a time or voyage charterparty that charterers have the right of sub-letting the whole or part of the vessel on the understanding, however, that they remain responsible to the shipowners for the due fulfilment of the original charterparty. In the case of a voyage charterparty, sub-letting will probably take the form of booking other cargo by charterers.

 

Cargo plan or stowage plan. In the regular liner trade it is customary to draw up a stowage plan, showing in different colours the part of the ship in which the various parcels have been stowed, stating at the same time marks and destination.

Subjects. When a contract is being negotiated, one side makes offers and the unconditional acceptance of these offers by the other side creates an "agreement".

Signed under protest. If charterers or shippers object to the insertion of a certain clause in the bills of lading, the master may sign the bills of lading under protest.

Subject financing. This qualification can be used by a charterer to indicate that he is attempting to finance a transaction for which he needs a ship, for example, he wishes to purchase a quantity of bulk cargo such as sugar, and needs a ship to transport it. It can also be used by a purchaser of a ship before confirming that he can complete the purchase.

 

Subject to contract. In this situation, a formal contract has yet to be signed. However, the main provisions have probably been agreed during negotiations.

Suspension of laytime. The counting of laytime against a charterer can be interrupted by bad weather and for other reasons. These are "interruptions", suspensions or exceptions to laytime. If laytime is not expressly suspended by appropriate words in the charterparty, it runs continuously.

 

SSW. This is an abbreviation for "Summer Salt Water" and refers to the draught of the ship when it is loaded to its summer load line in salt water, that is, in the open sea. The summer draught is the maximum draught to which the ship can be loaded depending on the "freeboards" and "loadlines" assigned to it by the assigning authorities.

 

Stowage factor warranty. When a ship is chartered to load a "full and complete cargo" or a "Min/Max" quantity, the owner is interested in the actual quantity being loaded by the Charterer, especially if his freight revenue is based on the quantity.