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.

Shipper. In the U.S. Shipping Act 1984 the “shipper” was defined as: “an owner or person for whose account the ocean transportation is provided or the person to whom delivery is to be made.”

Shipbroker. The shipbroker acts as an intermediary between charterers, shippers and consignees of cargo on one side and the shipowners or carriers by sea on the other. The principal functions of a shipbroker are:

Subject to insurance. This is one restriction in a charterparty that is not really relevant to the making of the formal contract in the same way that the other "subjects" are.

Stability. The stability of a ship is the tendency she possesses to return to her original position after she has heeled because of external forces. The stability of a ship mainly depends upon the metacentric height.

 

Spot. This is a common term used for a vessel, which can commence loading immediately after the charter has been fixed. Consequently the vessel must have arrived at her loading port. This expression is also used in connection with cargo, which is available for immediate loading.

 

Subject to drydocking. This would possibly be used by a charterer in the negotiations for a time charter in order to establish that a ship would be allowed to be dry docked by the owner but would be off hire during the ducking period.

 

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 licence being granted. This term is used in negotiations as regards the chartering of a vessel at a time when owners are not free to commit their vessel for a certain employment without having obtained the approval of competent authorities. Consequently, a charterparty issued under such condition is not effective until such licence has been definitely granted.

 

Strikes and Lockouts. When the loading and/or discharging are interrupted by hindrances beyond the control of either the charterer or the shipowner, the effect on laytime and on demurrage can become quite significant because of the cost of the loss of time.

Subject to Government permission. This is another example, similar to "subject to shippers' approval", for a party other than the two negotiating parties, the owner and the charterer, influencing whether the parties can enter into the charter.

Seasonal ports. Ports which are only accessible to ocean shipping during part of the year, such as ports in the St. Lawrence and in the White Sea, are called seasonal ports. Because of ice, these ports and their approaches are closed for navigation between December and spring.

 

Subject to strike and lockout clause. In a similar manner to "subject to dry-docking clause", this qualification indicates that the parties are in agreement to all the terms provided one party accepts the wording of a clause setting out the rights and responsibilities of the parties should the event mentioned take place.

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