FAC- Fast as can

FACS -Federation of American Controlled Shipping.

FAS -Free Along Side (of ship).

FEDERAL MARITIME COMMISSION(FMC) - Authorized tariffs and rate-making procedures on conferences operating in the United States.

FEEDER -A grain container or reservoir constructed around the hatchway between two decks of a ship which when filled with grain automatically feeds or fills in the vacant areas in the lower holds.

FEU -Forty Foot Equivalent Units (Containers).

FHEX- Fridays, holidays excluded

FHINC- Fridays, holidays included

FIO -Free in and out.

FIOST- Free in and out, stowed and trimmed

FIREMAN- an unlicensed member of the engine, room staff whose duties consist in standing watch in the boiler room and insuring the oil burning equipment is working properly.

FIRST REFUSAL- First attempt at best offer that can be matched

FIXTURE- Conclusion of shipbrokers negotiations to charter a ship - an agreement

FLAGS OF CONVENIENCE- The registration of ships in a country whose tax on the profits of trading ships is low or whose requirements concerning manning or maintenance are not stringent. Sometimes referred to as flags of necessity; denotes registration of vessels in foreign nations that offer favorable tax structures and regulations; also the flag representing the nation under whose jurisdiction a ship is registered. Ships are always registered under the laws of one nation but are not always required to establish their home location in that country.

FLOATING OIL STORAGE- Oil stored on floating vessels. It has been the practice for oil to be stored in large laid-up oil tankers in order to offset the loss involved while the tankers are inactive.

FMC -Federal Maritime Commission.

FO- Fuel oil/free out

FOB (FREE ON BOARD)- Cost of a product before transportation costs are figured in.

F.O.B. - Free on Board: Export term in which the price quoted by the exporter does not include the costs of ocean transportation, but does include loading on board the vessel.

FORCE MAJEURE- Clause limiting responsibilities of charterers, shippers and receiver of cargo

FORECASTLE- The raised part of the forward end of a ship's hull. The inside space may be used for crew accommodation or quarters, though on new ships this space is being used for the storage of paints, tackle, deck and engine stores, tarpaulins, etc.

FORWARD - At or in the direction of the bow. Also the fore part of the ship.

FREE PRATIQUE- Clearance by the Health Authorities

FREIGHT- Money payable on delivery of cargo in a mercantile condition.

FREIGHT FORWARDER- Arranges shipments for customers usually break bulk. Does not actually carry the cargo or conduct business for the ship.

FREIGHT RATE- The charge made for the transportation of freight.

FRUSTRATION- Charterers when cancelling agreement sometimes quote 'doctrine of frustration' i.e. vessel is lost, extensive delays .