First refusal. In negotiating for the fixture of a vessel a shipowner's shipbroker may attempt to obtain a FIRM OFFER from the charterer or the charterer's agents within a stated time limit.

Free alongside (FAS). If a charterparty provides for delivery of cargo "free alongside", it is up to the shippers to arrange for delivery of the goods within reach of ship's tackle (cargo handling equipment) unless the custom of the port provides otherwise. In some ports the meaning of this expression may be different. Shippers have fulfilled their obligation if they have arranged for delivery of the goods on pan of the wharf although beyond reach of ship's tackle.

Full knowledge of the local practice is therefore essential.

Fully declared. This is a floating policy in which the total of the amounts reaches the agreed limit. The floating policy comes to an end when it is fully declared.

Fighting ship. When liner conferences are faced with severe competition from outsiders, the members of the conference may agree to use additional vessels or sailings at very low freight rates.