There are two basic modes of operation in shipping. A ship can be employed as a liner; that is, it runs on a regular line between two ports or series of ports. It has a regular schedule of sailings and an agreed list of tariffs or prices. Alternatively a ship can be employed as a tramp. In this case the ship is chartered or hired out at the best price the owner can obtain. Such a ship may go anywhere with anything.
Dry Bulk Shipping News - Shipbroker Notes