Basic shipping terms: AA - Always afloat AAAA - Always Afloat, Always Accessible AP - all purposes or additional premium AFRA average freight rate assessments A/A always afloat Captain - title given to the master of a merchant ship. C&F - cost and freight: goods are to be sold on the term that the seller arranges their transportation and delivery to the buyer. CFS container freight station CIF - Cost, Insurance and Freight: the seller will also insure the goods.  CIFC - cost, insurance, freight and commissionCY - container yard DD - dry dock DWAT - Deadweight All Told: the total deadweight of a vessel at any time, and includes cargo, bunkers, constant weights, etc. DWCC - Deadweight Cargo Capacity: an estimate of the actual cargo intake against a particular draft, including bunkers, constant weights, etc.DT - deep tank ETA - estimated time of completion ETD - estimated time of departure ETR - estimated time of readiness FAF - Fuel adjustment facctor FCL - full container load FMC - Federal Maritime Commission FIOS - Free In, Out and Stowed: cargo to be loaded, stowed and discharged free of charge to the Carrier, for example for bagged goods. FIOST - Free In, Out and Trimmed: Cargo to be loaded, trimmed and discharged free of charge to the carrier - for bulk commodities. FOB - Free on Board: cargo to be delivered on board free of cost to the buyer and the carrier. HW - High water. LOA - length over all. Liner Terms:  the responsibility and cost of loading, carrying and discharging cargo is the account of the carrier, from the moment the goods are placed alongside for loading until the discharged at the destination. Time spent cargo-handling is at the carriers risk. Maiden voyage - first voyage of a ship. Main deck - deck of a ship from which the free board is determined. MS - motor ship. MV - motor vessel. Marks and numbers - marking distinctively displayed on goods being shipped, or on their packaging, for ease of identification. These include the port or place of destination and a package number, if ther is more than one. Mixed cargo - tow or more products carried on boad one ship. NOR notice of readiness O/C - Open Charter SHEX - Sundays and Holidays Excepted: means that laytime will not count on Sundays or Holidays. SHINC: Sundays and Holidays Included: laytime counts on Sundays and Holidays, which are considered to be normal working days. Stand-by Vessel: Ship permanently stationed in the vicinity of an installation with the task of evacuating the rig-crew in an emergency. Also carrying out guard duty keeping other ships away from the installation. SWL - Safe Working Load: refers to lifting capacities of cranes or derricks on board the ship. Worldscale - In the tanker segment of shipping, nearly all trip-chartering is done on the basis of the freight-rate system Worldscale (W), which is a method of calculation of payment for the transport of oil by ships, for a single or several consecutive voyages. Worldscale is a table giving the amount of dollars per ton oil for each of a number of standard routes. The rates listed in the table - the socalled flat rates - are termed Worldscale 100 (W100). The purpose of the Worldscale is to enable both owner and charterer to compare easily the returns on alternative voyages. Case Study 1         Case Study 2         Examples         Case Study