Full and complete cargo. This expression relates to a full cargo within the ship's cargo capacity, which will bring- the vessel down to its permissible draught, depending on the applicable loadlines or which fills the cargo spaces. The quantity of cargo, which can be loaded, may be qualified by adding for example, "10 per cent more or less in owner's option”. For instance:
The Chinese ship An Hai was chartered on 24 March 1988 on a STEMMOR charterparty (I983) to "proceed to YUZHNY or CONSTANZA in Charterer's option and there load . . . at 1-2 safe berths . . . a full and complete cargo of 30,000 metric tons 10 percent more or less in Owner's option BULK UREA…" for discharge in China.
It can also occur that a certain minimum and maximum quantity ("Min/Max") is agreed. For example:
A vessel was chartered on 21 May 1985 on the Bulk Sugar Charter-U.S.A. (Revised in 1962) in which the description of cargo read: "Bulk Raw Sugar, a full cargo of 16300 long tons (2240 lbs. each) MINIMUM/MAXIMUM."
There is no option stated in the charterparty and the freight is fixed on the agreed quantity.
When an option is given, for example, 10 per cent MOLOO ("More or less in Owner's Option") the master calculates the exact quantity of cargo, which his vessel can load, based upon a minimum quantity of bunkers (with a safe margin), water and stores, as well as the permissible loadlines. It may be possible to increase the deadweight capacity for cargo by calling at intermediate ports to replenish bunkers and water. Obviously the net freight on the extra quantity of cargo must exceed the additional expenses as a result of such procedure, including cost of fuel for extra steaming, port charges, operating costs for time lost fox calling at extra ports, and so on.
The difference in price far bunkers taken at intermediate ports must also be taken into account. The difference in fuel prices in the bunkering ports en-route may be lower than the net freight revenue per tonne.
If a vessel is fixed for say 50,000 metric tons, 10 per cent more or less, the master is entitled to claim the full quantity of 55,000 m.t. when tenders the Notice of Readiness. In the event that the charterer’s fail to ship the full quantity required by the master and no sound arguments can be advanced for their failure, the shipowners are entitled to deadfreight. It is very important that the quantity of cargo required by the master and corrections, if any, are recorded in writing so that differences of opinion are eliminated.
Shipowners who have undertaken to carry a full cargo are under obligations to put the entire cargo space and deadweight cargo capacity at the charterers' disposal in order to carry the maximum quantity of cargo within the agreed limits. Consequently, under normal circumstances, shipowners are not at liberty to take bunkers in excess of the normal quantity required for the voyage in question because this might be detrimental to the charterers' interests. It is, of course, important to make a correct declaration of the required quantity of cargo before commencement of loading.
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