Welcome to the Braemar Shipping Services Glossary. This contains terminology used in the shipping industry.


Transport of goods between two ports or places located in the same country, often restricted to domestic carriers.


Condition Assesment Program.


A dry bulk carrier of 85,000 dwt or above.

Charter Party

A formalised contract under which vessels are chartered.


Being the party that has agreed to charter (or hire) a vessel for financial consideration. This is often the owner of the cargo.


A formalised contract under which vessels are chartered.


Cost, insurance and freight. Delivery of goods is the seller’s responsibility to the port of discharge. The freight is paid for by the supplier of goods.

Clean Cargo

Clean or White Oils are highly refined petroleum products such as aviation sprits, gasolines, kerosines and lube oils. Such products tend to be light (Specific Gravity usually 0.66-0.89) and non-persistent in water. Most but not all have hi

Clean oil

Refined oil products such as naphtha.


Contract of Affreightment. An agreement to transport a defined amount of cargo at an agreed freight rate, with the shipowner choosing the ship.


Certificate of Financial Responsibility. Certificate required by the US Coast Guard for tonnage transporting oil products in the US economic zone (due to OPA90), to confirm the owner's financial responsibility up to a specified amount for pollution caused in US waters.

Combined Carrier

A vessel designed to carry either liquid or dry bulk cargoes. There are two principal types OBO (ore/bulk/oil) and O/O (ore/oil). OBOs are derived from dry bulk carriers with the added features of gas tight hatch seals, cargo lines and pumps and ofte

Crude oil

Unrefined oil.

To search the glossary please click A-Z to browse by initial, or click 'ALL'. Initials that have no glossary entries are greyed out.

AMEG: Middle East Gulf
USAC: US Atlantic Coast
USG: US Gulf
WAF: West Africa
TCE: Time Charter Equivalent
WS: Worldscale
TEU: Twenty Foot Equivalent Units