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Glossary

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Cabotage

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

Capesize

Bulk ship size range defined by Clarksons as 100,000 dwt or larger.

Cgt

Compensated gross tonnage. This unit of measurement was developed for measuring the level of shipbuilding output and is calculated by applying a conversion factor, which reflects the amount of work required to build a ship, to a vessel's gross registered tonnage.

Charterer

Cargo owner or another person/company who hires a ship.

Charter-party

Transport contract between shipowner and shipper of goods.

CIF

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.

ClarkSea Index

A weighted average index of earnings for the main vessel types where the weighting is based on the number of vessels in each fleet sector.

Clean oil

Refined oil products such as naphtha.

COA

Contract of Affreightment. An agreement to transport a

defined amount of cargo at an agreed freight rate, with

the shipowner choosing the ship.

Combination carrier

Ship capable of carrying oil or dry bulk cargoes, thereby increasing the productivity of the vessel. Typically termed OBO or Ore/Oiler.

Condensate

Naturally occurring substance in oil and gasfields which can be shipped in tankers.

Crude oil

Unrefined oil.

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