CHARTERING TERMS

A| B| C| D| E| F | G | H| I| J| K| L| M| N| O | P| R | S| T| U | V| W

Manifest - Document containing a full list of ship's cargo, extracted from the bills of lading. A copy, known as the outward manifest, is lodged with the Customs authorities at the port of loading. A further copy, known as the inward manifest, is similarly lodged at the discharge port, with one copy going to the ship's agent so that the unloading of the ship may be planned in advance.

Max - Maximum.

MHWN - Mean High Water Neaps.

MHWS - Mean High Water Springs.

Min - Minimum.

Min/Max - Minimum/Maximum - When qualifying the contractual quantity in a voyage charter, this term signifies that the freight is payable on that precise quantity, no more and no less.

Misdescription - Incorrect information concerning a ship given by the shipowner to a charterer or concerning cargo given by a charterer or shipper to a shipowner or shipping line. This may give raise to a claim for extra costs or damages or, in some cases, cancellation of the contract of carriage.

MLWN - Mean low water neaps.

MLWS - Mean low water springs.

MOL - More or Less.

Molchop - More or Less in Charterer's Option - Option allowed to a voyage charterer to load up to a certain quantity, normally expressed as a percentage or a number of tons, over or under a quantity specified in the contract of carriage. This option may

be sought if the charterer is not certain of the exact quantity that will be available at the time of loading.

MOLOO - More or Less in Owner's Option - Option allowed to a shipowner to carry up to a certain quantity, normally expressed as a percentage or number of tons, over or under a quantity specified in the voyage charter. This option may be sought if the shipowner is not certain what the ship's cargo capacity will be, taking into consideration bunkers, stores and fresh water, or if he wants flexibility to adjust the ship's trim.

More in dispute if on board to be delivered - Notation appearing on a Bill of Lading when the shipper is In disagreement with the ship as to the number of pieces or package tallied on board.

M/R - Mate's Receipt - Receipt made out by the first officer, stating the quantity and condition of the goods loaded on board the ship. This document is given to the shipper and later exchanged for the Bill of Lading.

MS - Motor ship.

MT - Metric ton - 1,000 kilograms.

MV - Motor vessel.