Actual Total Loss means when the subject matter is destroyed or so damaged as to cease to be the thing of the kind insured or the assured is irretrievably deprived of the subject matter insured. When a ship concerned is missing and after a lapse of a reasonable time, no news of her has been received, an actual total loss can be presumed. An actual total loss can occur in four ways:where property insured is actually destroyed e.g. a ship is wrecked or burnt out or where the goods are totally crushed in the collapse of a stow of cargo; where goods change their character in such a … [Read more...]

A water tank set right aft of the vessel. It will either be a designated freshwater tank or a ballast water tank used for adjusting the ship’s trim. … [Read more...]

A support structure to provide rigidity to the shaft of a twin-propeller construction. It is shaped like a turned-over ‘A’, hence its name, where the propeller shaft is supported at the apex of the structure. … [Read more...]

A substance added to a petroleum product to raise its electrical conductivity to a safe level above 50 picoSiemens/metre (pS/m) to prevent accumulation of static electricity. … [Read more...]

is the lowest temperature at which a substance will start to burn without the aid of an external flame. Spontaneous combustion begins, provided that conditions are right, when auto-ignition temperature is attained. … [Read more...]

the natural angle between the cone slope and the horizontal plane when bulk cargo is emptied onto this plane in ideal conditions. A value is quoted for specific types of cargoes, results being obtained from use of a ‘tilting box’. The angle of repose value is used as a means of registering the likelihood of a cargo shift during the voyage.An angle of repose of 35° is taken as being the dividing line for bulk cargoes of lesser or greater shifting hazard and cargoes having angles of repose of more or less than the figure are considered separately. … [Read more...]

This is an extra amount paid to the owner of a time-chartered vessel if the ship is ordered to a port or an area in which war or hostilities are taking place and the shipowner's insurers require an additional insurance premium for the vessel to be considered to be covered against risks in that place. … [Read more...]

If a vessel is fixed to trade to and from Australia, either on a time charter or on a voyage charter, it may be required by the charterers that the vessel is provided with ladders acceptable to waterside workers (stevedores) in that country. The ladders are required because of demands from waterside workers unions. These ladders are quite expensive to fit to the vessel and if the vessel requires waterside workers to enter into the cargo holds, yet is not fitted with these ladders, the vessel can be severely delayed. … [Read more...]

The code name given to the 1981 derivation of the original New York Produce Exchange form (NYPE) of charterparty. The 1981 version was published by The Association of Shipbrokers and Agents U.S.A. Inc. (ASBA), New York. … [Read more...]

A standard-form voyage charterparty for tankers published by ASBA in 1984. … [Read more...]