CHARTERING TERMS

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Paramount Clause - Clause in a Bill of Lading or Charter-Party which stipulates that the contract of carriage is governed by the Hague Rules or the Hague-Visby Rules or the enactment of these miles in the country having jurisdiction over the contract.

Part Cargo - Goods which do not represent the entire cargo for a particular ship but whose quantity is sufficient to be carried on the charter terms.

Part Charter - The chartering of a ship to carry a quantity of goods, which represents only a part of the cargo.

Performance Claim - Claim made by the time charterer against a shipowner when the ship has been unable to achieve the speed agreed in the Charter-Party or has consumed too much fuel or both.

Performance Clause - Clause in a time Charter-Party which stipulates that, should the ship be unable to achieve the agreed speed or should she consume too much fuel, the charterer is entitled to recover from the shipowner the cost of time lost and extra fuel, normally by means of a deduction from hire money.

PFT - Per Freight Ton - see freight ton.

PLTC - Port Liner Term Charges - Cargo handling charges levied on the shipper by the shipping line at the port of loading.

Point to Port Rate - Freight rate which includes all costs from inland place of the exporting country to the port of discharge in the importing country.

Pooling - Sharing of cargo or the profit or loss from freight by member lines of a liner conference pooling arrangements do not exist in all conferences.

Port to Point Rate - Freight rate which includes all costs from the port of loading in the exporting country to an inland place in the importing country.

Post Fixture - After the contract for the charter of a ship has been agreed. Said of work carried out by a shipowner, charterer or shipbroker, including payment of hire or freight, calculation of despatch or demurrage and the resolution of any disputes.

Preamble - First few lines of a Charter-Party in which the panics to the contract and the ship are identified.

Private Form - Standard Charter-Party devised and used by a particular company. Oil companies when chartering tankers use the majority of these charter-parties.

Pro Forma Charter-Party - Document containing all the terms and conditions of a contract between a shipowner and a charterer but which is unsigned and therefore is not a contract itself.

Pro Forma Disbursements Account - Statement sent by a ship's agent at a port to the shipowner in advance of the ship's call at the port. It consists of the expenses that are likely to be incurred, including port charges, pilotage, towage and the agent's commission. This account is used to help the shipowner estimate the viability of a voyage and serves as a request by the agent for sufficient funds to be made available prior to the ship's arrival.

Protecting Agent - Agent appointed by the owners or charterers to protect their interest and to supervise the work carried out by the ship's agent when. under the Charter-Party. the vessel is consigned to another's agent. If the Charter-Party calls for owner's agents, the charterers may appoint a protecting or supervisory agent to protect their interest at the port of loading and / or discharge. The same applies to shipowners, time charterers and voyage charterers.

Protective Clauses - Clauses in a Charter-Party which provide contingencies for unforeseen situations, such as ice, strikes, general average or collision. Also known as protecting clause.

Purposes - Time allowed in a voyage Charter-Party for loading and discharging combined, expressed as a number of days or hours. Also referred to as all purposes.