Nautical Term: FIOST
Definition of FIOST
Free In and Out, as well as Trimmed: This nautical term signifies that the charterer is solely responsible for the cost of loading and unloading cargo, including the expenses related to stowage and trimming.
For instance, assume that a shipping company contracts a cargo vessel to a charterer. The cargo vessel then sets sail from the port of loading in Singapore to the port of discharge in Rotterdam. In this transaction, the charterer is obliged to bear the expenses associated with the loading and unloading of the cargo, including the fees related to stowage and trimming.
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