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BIC-Code. In order to identify all containers manufactured and used especially in shipping, each container is marked with special alpha-numeric codes that appear on the sides or plates of the containers.

BB. This abbreviation can be and is used for a variety of different terms such as: "Ballast Bonus", "Below bridges", "Breaking bulk" and "Bulbous bow".

Basis of calculation: All rate calculations, which are made in U.S. dollars, are per tonne for a full cargo for the standard vessel based upon a round voyage from loading port or ports to discharging port or ports and return to first loading port using the under-mentioned factors.

Berth rates or liner rates. These expressions relate the freight rates applying to shipments by regular lines engaged in the trade in question. These freight rates become "standard" for a particular liner route and particular cargo.

 

Breakdown clause. Time charterparties contain a clause providing that if the ship is unavailable for the charterer's use because there is loss of time as a result of "...breakdown or damages to hull, machinery or equipment..." (among other causes) payment of the hire money to the shipowner ceases for all or some of the time lost.

BARECON "B". A financial-type of standard-form bareboat charterparty used particularly for new building ships financed by mortgage.

 

Box rates. This is the freight rate for the carriage of a container, usually irrespective of the cargo in the container although some conferences and liner operators may offer their services on a box commodity rate.

 

Ballast. In order to increase the stability of ships, which have to be dispatched without cargo and to ensure that the propeller will be immersed sufficiently, say about two-thirds of its diameter, a sufficient quantity of ballast will be loaded before sailing. The quantity of ballast depends on the type of vessel, quantity of water which can be taken in the ballast tanks and also the voyage to be made. Seasonal weather conditions which may be expected on the voyage must also be considered.

 

Broker. In the context of chartering, the most common "broker" is a "shipbroker". In general, in shipping, a broker is a person who acts as a "middleman" between two parties and negotiates the terms of a contract into which the two parties enter. The broker acts as an agent and usually represents only one of the parties, negotiating with the other party directly or with another broker representing the other side. In addition to a shipbrokerwho can be an owner's broker or a charterer's agent negotiating a charter.

Barrel (Bbl). A unit of measurement of liquid cargoes, usually oil. One bbl contains 34.97261 Imperial gallons or 42 U.S. gallons, or 1 cubic metre of oil measures 6.29 bbls. If the specific gravity of the oil is 0.8, one tonne of oil will be approximately 7.9 bbls

 

BBB. "Before breaking bulk", that is, before commencing discharge or opening of the ship's hatches.

Bulbous bow (BB). The shape of the foremost portion of the ship, the bow, in the form of a rounded bulb instead of the traditional V shape, in order to reduce hull resistance and its effect on speed in the water.

Bilge. The bilge of a vessel with double bottom tanks is a triangular channel on both sides formed by the margin plate of a double bottom, the curvature of the outer skin of the vessel and the bilge ceiling.

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