Related Entries of the International Encyclopedia:

1. Seabee A marine cargo system that employs a barge loaded aboard a specially designed vessel. The barge, which is substantially larger than those employed in LASH-type systems, measures more than 97 feet in overall length, features double-hull construction, and accommodates a bale capacity of 39,140 cubic f......
2. Feeder Vessel A small vessel or barge that carries goods from a principal port to outlying ports not served directly by the mother ship.......
3. Marine Extension Clause A provision in an ocean marine cargo policy for coverage of the merchandise in cases where: (1) there is a deviation by the vessel, transshipment, forced discharge, or the exercise of any liberty granted to the vessel operator under the contract of affreightment; or (2) the goods are landed at a por......
4. Lighterage A charge imposed for the transfer of cargo from vessel to shore and vice versa by means of lighters.......
5. Loadcenter A geographical point at which cargo from outlying points is routinely collected for onward carriage. For example, cargo moving from Philadelphia and Norfolk to Europe may be transported by barge or other means to Baltimore where it is loaded upon a Europe-bound vessel. The purpose of operating a loa......
6. Special Cargo Policy A marine cargo policy issued to cover a specific shipment. A special policy may be issued when the shipper infrequently transports goods by water, or when the merchandise is so unusual or so valuable as to warrant a special policy. Frequent shippers customarily obtain an Open Policy (...
7. Marine Bill of Lading Marine Bill of Lading in International Trade Meaning of Marine Bill of Lading (B/L), according to the Dictionary of International Trade (Global Negotiator): A receipt for the cargo and a contract for transportation between a shipper and the ocean carrier. It may also be used as instrument of [...]...
8. Marine Cargo Insurance Marine Cargo Insurance in International Trade Meaning of Marine Cargo Insurance, according to the Dictionary of International Trade (Global Negotiator): Insurance covering loss of, or damage to, goods at sea. Marine insurance typically compensates the owner of merchandise for losses in excess [...]...
9. Bargaining Unit Bargaining unit in the International Trade Union Rights Area Definition of Bargaining unit provided by ITUC-CSI-IGB: A group of workers within a particular company, establishment, industry or occupation that constitutes an appropriate unit for the purpose of collective bargaining. See [...]...
10. Flash A feeder-LASH (lighter aboard ship, q.v.) system used in Malaysia and Indonesia in which a LASH barge is positioned on top of a semisubmersible barge; the barge is pumped out, and the LASH barge towed to the pier or wharf for loading.......
11. Free of Particular Average A clause in a basic marine cargo insurance policy restricting settlements in the case of partial losses attributable to perils of the sea or incidents where the vessel has been sunk, burned, or stranded during the course of the voyage. An F.P.A. policy provides the most limited coverage. The [...]...
12. Basic Balance In balance of payments accounting, the sum of the current account plus net long-term capital transactions, public and private. See Balance of Payments.......
13. Lighter A shallow-draft barge used to transfer cargo from an oceangoing vessel to a wharf that could not accommodate the ship itself; the practice of lightering is common in ports with severe congestion or primitive conditions.......
14. Stowage The act of placing cargo within the hold of a vessel for transit. The term has been extended to include the loading of cargo within containers.......
15. Benefit Of Insurance Clause A provision contained in some ocean bills of lading providing that the ocean carrier is not liable for cargo losses where the merchandise is covered by insurance. This provision has been upheld by the courts (Phoenix Insurance Company vs. Erie & Western Transport Company, 117 U.S. 312, 6 S.Ct. 750 1......
16. Flag Carrier Flag Carrier in International Trade Meaning of Flag Carrier, according to the Dictionary of International Trade (Global Negotiator): A vessel registered under the flag of a particular country. Some counties support their merchant marine industry by limiting certain types of cargo to vessel [...]...
17. Cargo Insurance Certificate Cargo Insurance Certificate in International Trade Meaning of Cargo Insurance Certificate, according to the Dictionary of International Trade (Global Negotiator): A document indicating the type and amount of insurance coverage in force on a particular shipment. Used to assure the consignee [...]...
18. Manifest A document listing all the cargo stowed aboard a vessel, usually broken down by port of unloading. The manifest is an abstract of the individual bills of lading issued for each consignment and is customarily provided to customs authorities for inspection upon landing.......
19. General Cargo Vessels General Cargo Vessels in International Trade Meaning of General Cargo Vessels, according to the Dictionary of International Trade (Global Negotiator): A vessel designed to handle breakbulk cargo such as bags, cartons, cases, crates and drums, either individually or in unitized or palletized [...]...
20. Barge-On-Board A method for the carriage of ocean cargo employing a large capacity barge that is loaded at river, lake, or harbor points and towed to an ocean port where the barge is lifted aboard an oceangoing vessel for transport abroad. Upon arrival at the port of destination, the barge is discharged into the h......
21. Both-To-Blame Clause A provision in an ocean bill of lading that addresses the responsibilities of the vessel to the cargo interests in the event of a collision at sea. The clause arises from an anomaly of maritime law whereby a vessel involved in a collision is exempted from liability to its own cargo (as provided in t......
22. Barge-Aboard-Cat Amaran A method for the transport of ocean cargo by use of a small barge, which is filled at a waterfront facility and towed to a twin-hulled (catamaran) mother ship for transport abroad. The catamaran may also carry larger LASH (LIGHTER ABOARD ship, q.v.) barges between the twin hulls. This service was in......
23. General Average Summary of General Average An ancient principle in international maritime law requiring a contribution by the vessel and cargo interests to pay for "extraordinary expenses and sacrifices"incurred in saving the vessel and its cargo. The term average derives from an Arabic word [...]...
24. Inducement In maritime shipping, the tender by a shipper to a carrier of a sufficient amount of cargo so as to warrant a vessel calling at a port not ordinarily scheduled during the voyage.......
25. Cargo Preference Act A 1954 amendment to the Merchant Marine Act of 1936 which mandates that at least 50 percent of all government generated cargoes move on U.S. flag ships. Included in the category of such cargoes are Department of Defense movements, Department of Agriculture surplus commodities, goods financed by the ......
26. Cargo Deadweight Tonnage The cargo- carrying capacity of a vessel, expressed in long tons, derived by substracting the weight of stores, fuel, water, and other necessary provisions from the vessel's deadweight tonnage.......
27. Dead Freight A payment made by a charterer to the owner of a vessel as compensation for stowing the ship to less than its capacity. The charterer is bound to ship a "full and complete cargo"; since freight is payable only on the cargo actually shipped, failure to deliver a full load deprives the [...]...
28. Bad Faith Bargaining Bad faith bargaining in the International Trade Union Rights Area Definition of Bad faith bargaining provided by ITUC-CSI-IGB: See good faith bargaining Resources Trade Union Topics Trade Union Act Trades Union Congress (TUC) Trade Union Density Definition of Trade Union Socialist Coalition [...]...
29. Ocean Bill of Lading Ocean Bill of Lading in International Trade Meaning of Ocean Bill of Lading, according to the Dictionary of International Trade (Global Negotiator): A receipt for the cargo and a contract for transportation between a shipper and the ocean carrier. It may also be used as instrument of ownership [...]...
30. Shut-Out The act of leaving behind certain cargoes when too much cargo arrives for a given vessel sailing. Usually the cargo is not turned away upon delivery to the pier but is accepted by the carrier and despatched aboard a subsequent vessel.......
31. Wharfage A charge imposed by a pier operator for receiving, handling, and transferring cargo to or from a vessel. Customarily, these charges are absorbed by the vessel. ......
32. Roll-On/roll-Off A method of ocean cargo service employing a vessel with ramps astern or amidships to permit wheeled vehicles to be loaded aboard. The opportunity to run cargo on and off by ramps, without the necessity of cranes or similar equipment, permits accelerated loading and unloading of the vessel, particula......
33. Light Cargo A cargo that fully occupies the cubic capacity of a ship but does not bring the vessel down to its marks in the water.......
34. Bank Holding Companies In the United States For information about bank holding companies in the context of international trade, click here...
35. Tramp Vessel Tramp Vessel in International Trade Meaning of Tramp Vessel, according to the Dictionary of International Trade (Global Negotiator): A vessel which does not operate under any regular schedule from one port to another, but calls any port where cargo may be obtained. To be distinguished from [...]...
36. Heavy Cargo A load of cargo that settles a vessel down to its marks in the water but does not fully occupy the cubic capacity of the ship.......
37. Inchmaree Clause A customary provision in marine cargo policies for coverage from losses sustained because of bursting of boilers, breakage of shafts, latent defects in the hull or machinery of the ship, or errors in the navigation or management of the vessel.......
38. Cargo Summary of Cargo Merchandise in the process of being transported; not to be confused with freight, which, in maritime usage, is the sum earned by a carrier for transporting goods. General cargo consists of various commodities comprising the property of many shippers or consignees; special [...]...
39. Cargo Deadweight The cargo-carrying capacity, expressed in long tons, of a vessel when fully loaded excepting water, stores, bunkers, and supplies.......
40. Insurance Certificate Insurance Certificate in International Trade Meaning of Insurance Certificate, according to the Dictionary of International Trade (Global Negotiator): A document used so that coverage is provided to cover loss or damage to cargo while in transit when insurance is placed against an open marine [...]...
41. Shipment Received For Shipment B/L in International Trade Meaning of Received For Shipment B/L, according to the Dictionary of International Trade (Global Negotiator): A bill of lading which confirms the receipt of goods by the carrier, but not their actual loading on board. This document can be [...]...
42. Special Marine Policy Special Marine Policy in International Trade Meaning of Special Marine Policy, according to the Dictionary of International Trade (Global Negotiator): An insurance policy which is issued to cover a single shipment. The special marine policy form calls for the name of the vessel and sailing [...]...
43. Breakbulk Cargo Breakbulk Cargo in International Trade Meaning of Breakbulk Cargo, according to the Dictionary of International Trade (Global Negotiator): Non-containerized cargo that may be grouped or consolidated for shipment, and then is later broken down, subdivided, or distributed at a further [...]...
44. Combination Vessel Usually used in reference to a vessel that is partially cellularized to accommodate containers, with the remainder of its cargo-carrying space dedicated to break-bulk stowage.......
45. Free in and Out A condition in transportation under which the carrier has no responsibility to load or unload the vessel, barge, or other conveyance. The shipper is obliged to stow the cargo, and the consignee to effect unloading; loading and unloading expenses may be borne by either the shipper or the [...]...
46. Gross Tonnage Gross Tonnage in International Trade Meaning of Gross Tonnage, according to the Dictionary of International Trade (Global Negotiator): The capacity of a vessel (no cargo) expressed in vessel tons. It is determined by dividing by 100 the contents, in cubic feet, of the vessel closed-in spaces. [...]...
47. Open Marine Cargo Insurance Policy Open Marine Cargo Insurance Policy in International Trade Meaning of Open Marine Cargo Insurance Policy, according to the Dictionary of International Trade (Global Negotiator): A type of insurance policy intended to cover an indefinite number of future individual shipments. The insurance [...]...
48. Carfloat A barge that transports railcars about a harbor. The barge has rails on deck, and cars are shunted on at the rail terminals to be floated to a pier for off-loading onto a ship, or for continuation of the rail journey.......
49. Compensating Balance A non-interest- bearing deposit that a commercial borrower is obliged to maintain as condition of receiving a bank loan. The effect of this balance is to increase the net cost of the loan; while the amount to be held as a compensating balance is negotiable between the borrower and the bank, a balanc......
50. On Deck Bill Of Lading An ocean BILL of Lading (read this and related legal terms for further details) bearing the specific endorsement "on deck," "on deck at shipper's risk," or words of like import. Such bills of ladi......
51. On Deck Cargo Cargo, normally of a hazardous nature, that is stowed on the deck of the vessel for easy discharge overboard in the event of fire or other danger. The bill of lading for cargo stowed on deck for reasons of safety will bear a special "on deck" notation which conveys that the goods are carri......
52. Overbooked The condition in which too much cargo has been accepted for a given vessel sailing. It is not necessary that all the cargo be delivered to the pier, merely that too many bookings, or space allocations, have been issued. The customary carrier response is to hold some of the cargo, usually the late ar......
53. Respondentia The pledge of cargo by a vessel's master as collateral for a loan to permit the ship to continue on its journey or to make arrangements to forward the goods. The bond so created gives the lender a Maritime Lien (read thi......
54. Agency Fee A charge imposed by a shipowner's local agent for services on behalf of a vessel while the ship is in port; also, the commission paid by a vessel's owner to local sales agents on cargo shipped on the vessel.......
55. Federation Of American Controlled Shipping An association of American firms that operate Liberian- and Panamanian-registered tankers, bulk carriers, and specialized vessels. Currently, federation member firms control over forty-three million deadweight tons of foreign shipping. In addition, federation members control approximately one-half t......
56. Particular Average Summary of Particular Average A partial loss of the value of cargo shipped by sea attributable to a marine peril. See free of particular average.(Main Author: William J. Miller) Particular Average in International Trade Meaning of Particular Average, according to the Dictionary [...]...
57. Bulk Cargo Bulk Cargo in International Trade Meaning of Bulk Cargo, according to the Dictionary of International Trade (Global Negotiator): Cargo that consist entirely of one commodity and is usually shipped without packaging. Examples of bulk cargo are grain, coal, and oil....
58. Bulk Carrier Bulk Carrier in International Trade Meaning of Bulk Carrier, according to the Dictionary of International Trade (Global Negotiator): A vessel specifically designed to transport bulk cargo. There are two types of bulk carriers: those designed to transport dry bulk cargo such as grain or coal, [...]...
59. Integrated Tug/barge A self-propelled barge consisting of two increments: a barge and a separate propulsion unit. The barge and propulsion unit are joined in the water upon completion and may be separated at a later date.......
60. Net Ton A unit of measurement in determining the cargo-carrying capacity of a vessel. It is computed in the same manner as the Gross Ton (read this and related legal terms for further details) but includes only revenue-producing......
61. New Jason Clause A stipulation in ocean bills of lading subject to the U.S. carriage of goods by Sea Act (read this and related legal terms for further details). Prior to the adoption of the Harter Act of 1893, American law recognized no......
62. Forty-Forty-Twenty A provision of the Unctad Code Of Conduct For Liner Conferences (read this and related legal terms for further details) that calls for a system of cargo preference in which 40 percent of export cargoes would move on shi......
63. Bargaining Permissive Subject of Bargaining Permissive Subject of Bargaining in the U.S. Labor Law Note: find out more about this topic in the American legal encyclopedia. Resources See Also Labor Law Resources See Also Voluntary Subject of Bargaining Labor Law Resources See Also Voluntary Subject [...]...
64. Cargo Broker A broker representing the charterer in finding a vessel for hire.......
65. Deviation The departure by a vessel from the scope or route of the planned voyage. An unreasonable departure from the normal course of the voyage is generally considered improper and, in those cases where cargo interests suffer losses as a result of such a departure, a finding by a court that the vessel devia......
66. Liquidity Balance In national balance of payments accounting, the sum of the basic balance (i.e., current account plus long-term capital transactions), short-term capital transactions, net changes in holdings of special drawing rights, plus errors and omissions.......
67. Jumboizing The process of increasing a vessel's cargo-carrying capacity, usually by cutting a vessel in two halves amidships and inserting additional hold sections. ......
68. Measurement Ton An expression of cubic measurement equal to forty cubic feet, used either to define the interior of a vessel or as a basis for assessing freight on cargo. With virtually worldwide conversion to metric measurement, a measurement/stow ton may be defined as the equal of a cubic meter, depending [...]...
69. Bank Guarantee Bank Guarantee in International Trade Meaning of Bank Guarantee, according to the Dictionary of International Trade (Global Negotiator): A contract between a bank (as guarantor) and a beneficiary, in which a bank commits itself to pay a certain amount of money under certain specified [...]...
70. Collective Bargaining Agreement Resources See Also Collective labor agreement Trade agreement...
71. American Institute Of Marine Underwriters An association embracing virtually every insurance company writing ocean marine insurance cover in the United States. The organization serves as a conduit for information on legislative affairs affecting its members, provides data on marine casualties, and certifies marine surveyors. The associatio......
72. Overcarried Cargo Goods not discharged at their port of destination, but left aboard the vessel for discharge at a subsequent port.......
73. Bank Draft Bank Draft in International Trade Meaning of Bank Draft, according to the Dictionary of International Trade (Global Negotiator): A payment order from a bank, similar to a cashier's cheque. A bank draft is considered cash and cannot be returned unpaid....
74. On-deck On-deck in International Trade Meaning of On-deck, according to the Dictionary of International Trade (Global Negotiator): A notation on marine transportations documents that the shipped cargo was loaded on the deck of the carrying vessel as opposed to within the ship's hold ("under [...]...
75. Bank Export Services In the United States For information about Bank Export Services in the context of international trade, click here...
76. Assailing Thieves Persons employing force in the actof stealing a vessel or its cargo, as contrasted with persons engaged in surreptitious thefts, or members of the ship's company engaged in pilferage.......
77. National Cargo Bureau A nonprofit, membership corporation concerned with the safe loading, stowage, transport, and unloading of cargoes aboard vessels. The NCB provides on-site inspection services to ensure that cargoes are stowed correctly and that incompatible materials are not stowed together. In the case of shipments......
78. Time Charter The charter of a vessel for a specific period of time, during which the vessel will respond to operational direction from the charterer.......
79. Adventure Summary of Adventure In marine insurance, any maritime enterprise. The term is most commonly used to denote the risks undertaken by a vessel and her cargo in the course of transiting the seas.(Main Author: William J. Miller) Description of Adventure Resources See Also Joint [...]...
80. Dock Receipt A document used at some ports to acknowledge delivery of cargo to a pier for shipment aboard a given vessel. The format of a dock receipt often resembles that of a bill of lading and contains substantially the same information concerning the cargo; it is signed and/or stamped by the stevedore [...]...
81. Longshoreman A person employed in the loading and unloading of a vessel and the handling of cargo in and about the harbor area. The term longshoreman is often confused with stevedore; the latter is a firm contracted by the vessel to provide loading and unloading services, and employing longshoremen. ......
82. Seabridge A service offered by some ocean carriers whereby cargo moving between Europe and East Asia is taken by one vessel from the exporting country to a U.S. port for relay, from the same port, to destination. The goods move under a single through bill of lading. A seabridge movement is the effective equiv......
83. Shore Clause A provision in marine insurance policies providing coverage for losses to cargo arising from overturning, derailment, collision, or other accidents involving land conveyance; fire, earthquakes, and other natural catastrophes; sprinkler leakage and collapse or shifting of piers or wharves; and losses......
84. War Risks The risks borne by a cargo owner or shipper that his goods will be lost or damaged owing to hostile actions at sea. Marine cargo policies exclude war risks from coverage, responding only for marine perils such as sinking, fire, collision, and various perils of the sea. War risks are covered in a sep......
85. International Development Association International Development Association Outline The IDA is one of the two affiliates of the World Bank. It came into existence in 1962 under the Articles of Agreement of the International Development Association of 1960. Its main function is to provide loans on more favourable and flexible terms [...]...
86. Admission Of Seaworthiness A clause commonly found in contracts of marine insurance whereby the insurer agrees not to raise unseaworthiness of the vessel as a defense in a claim brought by the policyholder. In olden days, a merchant was obliged to ascertain the seaworthiness of a ship before offering cargo for carriage. The a......
87. Distress Freight Cargo carried by a ship at a depressed freight rate because, in the absence of that cargo, the vessel would be obliged to sail empty or nearly so to its next port. The term is used most commonly in connection with tramp vessels.......
88. Loading Summary of Loading A risk premium in addition to interest charges and acceptance fees deducted by a bank or discount house from the face value of a bill of exchange (read here for further details) presented for discounting. This additional margin will vary, depending upon the quality of the [...]...
89. Bilateral Agreement In general, any treaty, protocol, or understanding between two nations. The term has particular application in the area of commercial air transportation, where a bilateral agreement is an understanding between two countries permitting the commercial aircraft of one nation to land in and carry [...]...
90. Displacement The weight of the water displaced by a vessel at rest in the water, expressed in long tons. The light displacement is the weight of the water displaced by the vessel alone, while the weight of the water displaced by the vessel and its cargo is said to be the loaded displacement of the ship.......
91. Port Congestion Surcharge A charge imposed by a steamship to offset the loss of revenue sustained by vessel calls at ports lacking adequate discharging facilities or sufficient labor. The surcharge is usually expressed as a percentage of the basic freight assessed on the cargo.......
92. Multifiber Arrangement An international agreement among textile-producing and consuming nations to provide a framework for orderly trade in textiles and apparel. For many years, the textile manufacturing industries of the developed nations have been beset by intense competition from lower-cost imports, resulting in unempl......
93. Notice Of Readiness Written notification provided by a vessel owner to a charterer, shipper, or consignee that the vessel has arrived at port and is prepared to commence loading or discharging of cargo, as the case may be. Failure by the charterer, shipper, or consignee to commence loading/discharging is apt to start L......
94. Transshipment The act of passing cargo from one carrier to another to continue the journey in those cases where the first carrier does not go from origin of a shipment to destination.......
95. Base Port Base Port in International Trade Meaning of Base Port, according to the Dictionary of International Trade (Global Negotiator): Major ports that ship lines call on with their large (usually transoceanic) vessels. Cargo bound for ports within the base port hinterland is transshipped on feeder [...]...
96. Net Tonnage Net Tonnage in International Trade Meaning of Net Tonnage, according to the Dictionary of International Trade (Global Negotiator): A vessel's gross tonnage minus deductions for space occupied by accommodations for crew, machinery for navigation, the engine room, and fuel. A vessel's [...]...
97. Bridgeport Bridgeport in International Trade Meaning of Bridgeport, according to the Dictionary of International Trade (Global Negotiator): A port where cargo is received by the ocean carrier and stuffed into containers but then moved to another coastal port to be waded on a vessel....
98. Barratry An act committed by a master or mariners contrary to their duties to the ship, including, inter alia, mutiny, sabotage, and theft of cargo.......
99. Barcelona Traction Case Barcelona Traction Case (1970) A Contentious Case between Belgium and Spain before the ICJ: https://www.icj-cij.org/docket/index.php?p1=3&code=bt&case=41&k=4e Belgium citizens, with stock in ... Read more...
100. Barbary Treaties Contents The Barbary Treaties Between 1786 and 1836 the United States made nine Treaties with the Barbary States, as they ... Read more...
101. Back Letter A letter of indemnity issued by a shipper of cargo to a steamship line to secure issuance of a clean bill of lading where one might not be issued otherwise. For example, a carrier may initially refuse to issue a clean bill of lading for cargo which appears to be damaged; a notation to this [...]...
102. Back-To-Back Letter Of Credit A letter of credit raised to purchase goods that will be sold under a different letter of credit. A broker or other intermediary who is the beneficiary under a customer's letter of credit may use that credit as collateral to open a second letter of credit to actually purchase the goods it plans ......
103. Backspread In arbitrage, the less-than- customary margin between purchase and sale price.......
104. Backwash Effect An adverse economic condition which arises from excess emphasis upon export expansion. The condition is common among developing countries, which are compelled to expand exports to secure foreign currency with which to fund essential imports. By targeting export industries for expansion, resources ar......
105. Bad Order A railcar awaiting repair, or otherwise out of service.......
106. Bailee Summary of Bailee A person or firm entrusted with temporary possession of the personal property of another. Possession of the goods by the Bailee conveys no title and the Bailee must surrender them to the owner upon completion of the purpose that gave rise to the bailment. A steamship [...]...
107. Bailment Summary of Bailment A contract by which one person (bailor) entrusts personal property to another person (bailee) for some specific purpose. All contracts for the carriage of goods, for example, are bailments.(Main Author: William J. Miller) Bailment, in law, a transfer of the [...]...
108. Bailor A person who temporarily entrusts personal property to another for the accomplishment of a specified purpose. A shipper of cargo is a bailor when he entrusts his goods to a railroad for the purpose of transporting the merchandise to a given destination.......
109. Baksheesh A gift or payment to a business associate or government official in the Middle East in anticipation of, or as an inducement to, completion of a business deal. The gratuity so provided is not regarded (by the recipient, at least) as a bribe, but as a token of esteem and friendship.......
110. Balance of Payments Balance Of Payments Summary of Balance Of Payments The sum owed to or by a nation as the result of its international transactions during a given time period, usually one year. The balance of payments is calculated by subtracting the nation's total payments to foreigners from total [...]...
111. Balance On Current Account A component of a nation's balance of payments (q. v.) ......
112. Balance On Goods And Services A component of a nation's BALANCE OF PAYMENTS (read this legal term for further details)......
113. Balanced Growth National economic growth, as measured by an increase in the popular standard of living, achieved by the coordination of three factors: (1) reduction in dependence upon raw materials production as the primary source of national income; (2) intensification of manufacturing, especially in the area of c......
114. Bale Cargo Cargo bound in burlap or similar material for international shipment.......
115. Balespace The internal cargo-carrying capacity of a vessel, including hatchways, expressed in cubic feet.......
116. Ballast Weighty material carried by a ship when partially or completely empty so as to stabilize the vessel in the water.......
117. Ballast Bonus Additional compensation paid by charterers to a vessel's owners to position the ship close to or at the port of loading. The bonus is designed to defray the cost of running the ship empty or at less than capacity to a distant port to pick up cargo.......
118. Balloon Cargo A cargo of low density, especially one that fully occupies the internal cubic capacity of a conveyance without approaching the vehicle's weight limitations.......
119. Balloon Payments One or more payments toward the end of a loan that are significantly larger than the payments earlier in the life of the loan. See BULLET PAYMENT.......
120. Banana Republic Term for any of several Central American republics that have been largely dependent upon banana exports as a source of foreign exchange. The term is used generally, in a disparaging sense, to refer to underdeveloped Latin American countries.......