Cargo order
Meaning
A cargo order is a charterer's request for a ship: cargo grade and quantity, load and discharge ports, laycan and the terms sought.
Also written as Cargo enquiry, Stem
Cargo order explained
Charterers circulate cargo orders through brokers, for example “80 kt crude, Ceyhan to Trieste, 5–7 April”. Owners with suitable ships reply with indications or offers.
In the oil trade the confirmed cargo itself is often called the stem, and “sub stem” is a subject that the cargo has been confirmed.
Related terms
Position list
A position list is a broker's list of ships open in a region, showing where and when each one will be available for its next cargo.
Firm offer
A firm offer is a binding offer open for acceptance for a set time; if the other side accepts in time and without changes, the deal is made.
Subjects
Subjects are conditions attached to an otherwise agreed fixture, such as charterer's approval or vetting, that must be lifted before it is binding.