FACS
Federation of American Controlled Shipping.
FAS
Free Along Side (of
ship).
FEDERAL
MARITIME COMMISSION (FMC)
Authorized tariffs and rate-making procedures on conferences operating
in the United States.
FEEDER
A grain container or reservoir
constructed around the hatchway between two decks of a ship which when
filled with grain automatically feeds or fills in the vacant areas in the
lower holds.
FEU
Forty Foot Equivalent Units
(Containers).
FIO
Free in and out.
FIREMAN
An unlicensed member of the engine,
room staff whose duties consist in standing watch in the boiler room and
insuring the oil burning equipment is working properly.
FLAGS OF
CONVENIENCE
The
registration of ships in a country whose tax on the profits of trading
ships is low or whose requirements concerning manning or maintenance are
not stringent. Sometimes referred to as flags of necessity; denotes
registration of vessels in foreign nations that offer favorable tax
structures and regulations; also the flag representing the nation under
whose jurisdiction a ship is registered. Ships are always registered under
the laws of one nation but are not always required to establish their home
location in that country.
FLOATING OIL
STORAGE
Oil stored on
floating vessels. It has been the practice for oil to be stored in large
laid-up oil tankers in order to offset the loss involved while the tankers
are inactive.
FMC
Federal Maritime
Commission.
FOB (FREE ON
BOARD)
Cost of a
product before transportation costs are figured in.
F.O.B.
Free on Board:
Export term in which the price quoted by the exporter does not include the
costs of ocean transportation, but does include loading on board the
vessel.
FORECASTLE
The raised part of the forward end
of a ship's hull. The inside space may be used for crew accommodation or
quarters, though on new ships this space is being used for the storage of
paints, tackle, deck and engine stores, tarpaulins, etc.
FORWARD
At or in the direction of the bow.
Also the fore part of the ship.
FREIGHT
FORWARDER
Arranges
shipments for customers usually break bulk. Does not actually carry the
cargo or conduct business for the ship.
FREIGHT
RATE
The charge made
for the transportation of freight.
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