Stem: Meaning in Shipping and Chartering

"Stem" is a word that brokers use for a slot at a loading terminal and for the cargo that goes with it. It is used in several ways, so the context matters.

What it can mean

The most common meaning is a booked loading slot at a terminal: "we have a stem at the terminal for the 10th to the 12th". It can also mean the quantity of cargo that a charterer has available to load in a given period, for example "a stem of 50,000 tonnes of coal for the first half of the month". In the fuel trade, "to stem bunkers" means to order fuel for a ship; see bunkers.

Why a stem matters

In ports that load by schedule, such as coal and ore terminals, a ship cannot just arrive and load. It needs a slot, and the slot is tied to a cargo. A charterer who has a stem can offer it to ship operators with a clear window, and a ship operator who knows the stem can plan the arrival of the ship for it.

The stem and the laycan

The window of the stem and the laycan of the charter must fit each other. If the ship arrives outside the slot, it may wait for the next one, and the delay can lead to demurrage or to a dispute about who is responsible. Many charters make the fixture subject to the stem, which means that the agreement depends on the slot being confirmed.

Questions to ask

Is the slot confirmed in writing by the terminal? Does it match the laycan? Who can change it, and what happens if the ship is early or late? For these points a short exchange of messages before the fixture saves time later. See also subjects.

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