Consortium. A group of shipowners may agree to offer their ships to an organisation formed by the members of the group for the organisation (the "consortium") to operate. "Shipping pools" are one form of consortia, generally operating in the tramp shipping, bulk trades. In liner trades, liner conferences fulfil much the same function except that each member company operates its ship independent of a centralised control organisation. In chartering practice, the administration organisation of a consortium or shipping pool can charter ships in or -out as necessary to carry out its cargo commitments or earn acceptable revenue.

 

Containers and bills of lading. With the advent of containerisation and also intermodalism, much cargo is being carried in containers, especially smaller consignments which can be carried on a "door-to-door" service.

Containerisation system. Containers are not new. From earliest times human beings have used objects designed to hold other things. Even nature did this before man thought of it. The egg is an obvious example. The use of containers in shipping is also not new. Jars for oil and wine were used thousands of years ago.

Cofferdam. In oil tankers the oil tanks are separated from the engine room by means of a cofferdam formed by two transverse bulkheads. The cofferdam extends over the entire breadth of the vessel and prevents leakage from the oil tanks to the engine room or diesel-oil bunkers. The pump rooms are also separated from adjacent tanks by cofferdams.

 

Coiled ship. This ship type would most probably be an oil tanker or a tanker to carry liquids in bulk. It would be provided with coils through which steam is passed to heat the liquid to reduce its “viscosity” and enable it to be pumped more easily.

 

Closed conference. This type of liner conference restricts membership in order to protect the members’ market share. It is the most common type of conference.

Container flow management (CFM). This expression is related to container logistics. This approach to logistics involved the management of the fleet of containers themselves, not the fleet of container vessels and the spaces (or “slots”) on board the vessels. The management also involves the movement of a container from one point to another without consideration of the actual mode of transport. The traditional carrier thus becomes a true “transport organiser”.

 

Conbulker. This is a type of vessel that can carry containers on one leg of a voyage and bulk cargo on the return leg. The structure of the vessel permits the cargoes to be changed easily.

 

CENTROCON. This charterparty approved by the Chamber of Shipping of the United Kingdom is in general use for shipments of grain from the River Plate to all parts of the world. It was published in 1914.

Container slot management (CSM). The objective of this management in a liner operator’s corporate plane is to achieve the best utilisation factors of the container spaces or slots available on-board the carrier’s own vessels. The revenue is increased by the volume of the goods carried. If slot space cannot be found in the carrier’s vessels, the carrier may use “vessel sharing arrangements” (VSA) with other carriers under which slots on-board vessels are reserved for fellow carriers.

 

Brokerage (or Commission). It is customary to express the remuneration for the broker's time and efforts in negotiating and arranging the contract as a certain percentage of the money earned by the shipowner. (In marine insurance, the broker is generally paid a commission by the underwriter although the assured is the broker's client and the services are for the client.) In shipbroking, the term "brokerage" is generally preferable instead of "commission" because the latter term is usually related to the charterer's reward as "address commission".

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