BALTIME. A Uniform standard form time charter published by BIMCO. In 1974 another edition included a box type format for main details and descriptive text for the clauses. BALTIME generally favours the shipowners' side and contrasts the NYPE, the New York Produce Exchange Form of time charter, which tends to favour the charterer's side.

 

BBB. "Before breaking bulk", that is, before commencing discharge or opening of the ship's hatches.

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".

Bill of lading identifier. In the United States the Customs authorities require that all shipping documents covering cargo imported into the U.S. be marked with an identity code, identifying the issuer of tile bill of lading.

Barratry. Under the U.K. Marine Insurance Act 1906 the term barratry includes every wrongful act willfully committed by the master or crew to the detriment of the owners or charterers, as the case may be.

Breakbulk (cargo) (BB). Packages of cargo or "parcels" (small quantities) known as "general cargo" and individually carried in the cargo compartments of a ship. Such cargo is not in "bulk cargo" form and not in unitised or containerised form. If the term is used as a verb "to break bulk", it indicates "to open hatches and commence discharge".

 

Blue Certificate. This is a document that may be carried by a ship; it indicates that the shipowner has entered into an agreement with the ITF (the International Transport Workers' Federation) that the crew are being paid wages and salaries, which are specified by the ITF.

Basis of calculation: All rate calculations, which are made in U.S. dollars, are per tonne for a full cargo for the standard vessel based upon a round voyage from loading port or ports to discharging port or ports and return to first loading port using the under-mentioned factors.

Blank indorsed bills of lading. This covers contract of carriage under bills of lading containing the details of shipment and of carriage but not containing the name of a consignee or endorsee.

BARECON "A". A standard-form bareboat charterparty used for existing ships, with or without an existing mortgage.

 

Breadth moulded. This expression relates to the maximum breadth of a ship measured amidships between the outside (heels) of the frames, i.e. to the inside of shell plating.

Bonding. This is an operation that was performed (and can still be used in some ports) on oil tankers to prevent electrical discharges caused by a difference of discharged.

Berth rates or liner rates. These expressions relate the freight rates applying to shipments by regular lines engaged in the trade in question. These freight rates become "standard" for a particular liner route and particular cargo.

 

Break bulk cargo. This is cargo carried on board traditional, conventional general cargo ships. The cargo is loaded and discharged one piece at a time (heavy cargoes) or a few pieces at a time, such as a number of bales or drums or a bundle of steel sheets.

 

Subcategories

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