CHARTERING AND BROKERAGE STUDY GUIDE EXAM
QUESTIONS AND ANSWERS SURE A+
✔✔ Liner Shipping - ✔✔-Common carrier principles
-Set Schedule
_little/no negotiation
-open to anyone
-BILL OF LADING
✔✔Tramp Shipping - ✔✔-Negotiable
-Goes where cargo goes
-Iron ore is biggest dry bulk shipment
-CHARTER PARTY
✔✔Broker - ✔✔Mediator
not included in contract
✔✔Principle - ✔✔Included in contract (Charterer/owner)
✔✔Types of brokers: Dry Cargo Broker - ✔✔1.25% commission
✔✔Types of brokers: Tanker Brokers - ✔✔1.25% for large parcels, 2.5% for small
parcels.
✔✔Special Agent - ✔✔Small amount of authority within a prescribed range of duties
✔✔General Agent - ✔✔Large amount of authority over a variety of functions.
✔✔Bill of lading - ✔✔Receipt of cargo.
Used to have contract of carriage on back, but it is all electronic now
✔✔Charter party - ✔✔consists of voyage, demise, and time charters.
✔✔Voyage charter - ✔✔Ship owner leases the vessel for the transport of the charterer's
goods on a single voyage from one port to another, at an agreed rate
✔✔Demise charter - ✔✔ship owner leases his vessel to the charterer for a period of
time during which the use and management of the vessel passes to the charterer.
Charterer is to pay all expenses for the operation and maintenance of the vessel.
✔✔time charter - ✔✔Allow the use of a ship for an agreed-upon time period (carrier
supplies crew and has no expenses).
✔✔5 things in writing to be enforced - ✔✔-real estate
QUESTIONS AND ANSWERS SURE A+
✔✔ Liner Shipping - ✔✔-Common carrier principles
-Set Schedule
_little/no negotiation
-open to anyone
-BILL OF LADING
✔✔Tramp Shipping - ✔✔-Negotiable
-Goes where cargo goes
-Iron ore is biggest dry bulk shipment
-CHARTER PARTY
✔✔Broker - ✔✔Mediator
not included in contract
✔✔Principle - ✔✔Included in contract (Charterer/owner)
✔✔Types of brokers: Dry Cargo Broker - ✔✔1.25% commission
✔✔Types of brokers: Tanker Brokers - ✔✔1.25% for large parcels, 2.5% for small
parcels.
✔✔Special Agent - ✔✔Small amount of authority within a prescribed range of duties
✔✔General Agent - ✔✔Large amount of authority over a variety of functions.
✔✔Bill of lading - ✔✔Receipt of cargo.
Used to have contract of carriage on back, but it is all electronic now
✔✔Charter party - ✔✔consists of voyage, demise, and time charters.
✔✔Voyage charter - ✔✔Ship owner leases the vessel for the transport of the charterer's
goods on a single voyage from one port to another, at an agreed rate
✔✔Demise charter - ✔✔ship owner leases his vessel to the charterer for a period of
time during which the use and management of the vessel passes to the charterer.
Charterer is to pay all expenses for the operation and maintenance of the vessel.
✔✔time charter - ✔✔Allow the use of a ship for an agreed-upon time period (carrier
supplies crew and has no expenses).
✔✔5 things in writing to be enforced - ✔✔-real estate
