FIOT
FIOT stands for Free In and Out and Trimmed. It refers to a type of charter party agreement in the maritime industry where the shipowner is responsible for the cost of loading and unloading cargo, but the charterer is responsible for trimming the cargo to ensure the stability of the vessel during transit. In other words, the shipowner is responsible for providing a vessel that is ready to receive cargo, and the charterer is responsible for ensuring that the cargo is properly stowed and secured. This type of agreement is commonly used in the dry bulk shipping industry.
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