Additional Terms used in Shipping - Part 2

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Ever wondered What are the additional terms used in Shipping? What is Notice of Readiness(NOR)? What are the conditions for off-hire in shipping?

In this video we'll try to answer the following questions:
  • (1:50) How is time charter hire is calculated?
  • (3:16) Case study -The Chikuma
  • (6:46) How Bunkers remaining onboard are calculated?
  • (9:44) What is off-hire?
  • (12:07) What is Freight?
  • (13:10) What is a Notice of Readiness (NOR)?
  • (15:40) Case study – The Happy Day
  • (16:43) Case study – The Front Commander

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