Aframax, oil tankers between 75,000 and 115,000 DWT. This is the largest size defined by the annual freight rate assessment (AFRA) scheme.

• TRUE

• FALSE

VLCC (Very Large Crude Carrier), supertankers between 150,000 and 320,000 DWT

• TRUE

• FALSE

Cargo ships are categorized based on their capacity, weight and sizes

• TRUE

• FALSE

Vessel is ready in all respects for cargo operation and notice of readiness properly given is one of conditions in specified in the charterparty

• TRUE

• FALSE

Ex Works ( EXW) - A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates

• TRUE

• FALSE

Compensation paid by shipowner to charterer as a 'reward' when the latter is able to complete the cargo operations in less time than the laytime allowed – Despatch

• TRUE

• FALSE

The space which can be utilised due to the type and nature of cargo loaded or structural interferences in the cargo hold – Broken Stowage

• TRUE

• FALSE

Gross tonnage, along with net tonnage, were defined by The International Convention on Tonnage Measurement of Ships, 1969, adopted by the International Maritime Organization in 1969, and came into force on July 8, 1982.

• TRUE

• FALSE

Lay days are specifying the earliest date on which laytime can commence and the latest date, after which the charterer, can opt to cancel the charterparty

• TRUE

• FALSE

Handymax, carriers of 40,000 - 50,000 GRT

• TRUE

• FALSE