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Chartering terms

Rate of Demurrage

Amount payable by a voyage charterer to a shipowner for each day used to loadand / or discharge cargo in excess of the time allowed in the Charter-Party.

Rate of Discharging / Loading

Number of tons of cargo discharged /loaded each day from / into a ship. Such a provision is often included in the terms of a voyage charter.

Rate of Freight

See freight rate.

Received for Shipment Bill of Lading

Bill of Lading evidencing that the goods have been received into the care of the carrier, but not yet loaded on board. It also serves as evidence of the contract of carriage and is a document of title, although because the goods have not necessarily been loaded on to the ship, this type of Bill of Lading is not always acceptable to banks as collateral security.


Party who receives the cargo at the place of destination in the contract of carriage.

Redelivery Certificate

Document signed by or on behalf of the shipowner and the charterer, certifying the time, date and place of redelivery of the ship, that is, the returning of the ship by the time charterer to the shipowner at the end of the period of charter. The certificate also states the quantity of bunkers onboard at the time redelivery.

Redly – Redelivery

Return of a ship by the time charter to the shipowner at the end of the period of the charter.

Release a Bill of Lading (to)

To provide the shipper with an original Bill of Lading, often in exchange for the freight.

Reversible Laytime

Term used in a voyage Charter-Party to signify that the time allowed for loading may at the charterers option, be added to the time allowed for discharging for the purpose of calculating demurrage or despatch.

Round Voyage

Voyage involving two legs the second of which brings the ship back to the geographical area where the first leg commenced.

RT – Revenue Ton

Unit of cargo on which a freight rate is based, generally one ton or one cubic meter whichever is greater. Also called freight ton.

Running Days

Consecutive days of 24 hours including weekends and holidays.