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.

 

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.

 

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