Ship Fixing and Fixture: Meaning in Chartering

In the chartering market "to fix" a ship means to agree the charter. The agreed deal is called a fixture.

To fix a ship

When a charterer and a ship operator agree the main terms of a charter, they say that the ship is fixed. "Ship fixing" is the process of reaching that agreement: the cargo and the ship are matched, the freight or hire is negotiated and the parties confirm the deal. It has nothing to do with repair, and nothing to do with fixing the position of a ship at sea, which is a navigation term.

The fixture

The agreed deal is the fixture. A fixture list or fixture report is a list of the charters agreed in the market in a period, with the ship, the cargo, the ports, the dates and often the rate. Brokers and analysts use fixture lists to follow the market.

Fixing on subjects

Many fixtures are made "on subjects": the main terms are agreed, but some conditions must still be met, for example approval of the ship by the charterer, the cargo or loading details, or a stem (the ship's slot at the loading berth). When the subjects are lifted, the fixture is clean and final. If a subject fails, the deal can fall away.

The fixture recap

After the agreement the broker, or one of the parties, writes a short summary of the terms: the ship, the cargo, the ports, the laycan, the freight or hire, the laytime and demurrage terms and the main clauses. This is the fixture recap, and the longer charter party is then written from it.

Shipfixing

On Shipfixing the two sides find each other and agree the terms directly. See how to charter a ship.

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Shipfixing is a digital platform. We are not a ship broker, ship agent or carrier, and we are not a party to any charter.