• Deadweight (DWT) : amount of cargo, fresh water, fuel and stores that the vessel will carry when loaded to vessel’s maximum draft.
• Gross tonnage(GRT): entire internal volume of vessel including superstructure expressed in terms of 100 cu.ft.
• Net tonnage (NRT): Gross tonnage minus space which do not contribute to her earning power.
• Displacement : weight of water displaced by tanker when floating at loaded tonnage.
• Draught (Draft): Height from keel to the water line.
• LOA (Length overall): total length of the vessel from bow to stern.
• Beam: the width of the vessel at widest portion.
• Laytime: Time allowed for loading and discharge. In tanker trade it is common to allow 72 hrs laytime. However this can be negotiated.
• Demurrage: The liquidated damages paid by charterer to the shipowner to compensate him for the delay to his vessel over and above allowed laytime.
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