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• Charterer – A Company hiring the vessel for either a duration of time or for a specific voyage 

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• Shipowner – Legal owner of vessel

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• Operator – Manages vessel operations

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• Time Charter – Vessel hired for a period

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• Voyage Charter – Hired for a single trip

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• Demurrage – Penalty for delays

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• Laytime – Allowed cargo operation time

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• NOR (Notice of Readiness) – Ship ready to

       load/discharge

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• Stevedores – Cargo handlers

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• Pilot – Local navigation expert

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• PSC (Port State Control) – Ship inspection authority

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• Flag State – Country of registration

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• Class (Classification Society) – Technical standards

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• Dry Dock – Major maintenance period

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• Bunkering – Refueling operation

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• Cargo Operations – Loading/discharging cargo

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• Ballasting/Deballasting – Managing stability

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• Draft Survey – Calculating cargo weight

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• ISM System – Safety management system

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• Logbook – Official record of operations