Glossary

P

Panamax

A dry bulk vessel ranging from 65,000 to 99,999 dwt.

Period charter

A period charter is an industry term referring to both time and bareboat charters. These charters are referred to as period charters or period market charters due to use of the vessel by the charterer over a specific period of time.

Post Panamax

A dry bulk vessel ranging from 85,000 to 99,999 dwt.

Protection and indemnity (or P&I) insurancer

Insurance obtained through mutual associations (referred to as “Clubs”) formed by vessel owners to provide liability insurance protection against a large financial loss by one member by contribution towards that loss by all members. To a great extent, the risks are reinsured.