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What is the purpose of NOR - Notices of Readiness for the vsl.?

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What is the purpose of NOR - Notices of Readiness for the vsl.?

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  1. A notice of readiness is issued by a shipmaster to the vessel charterer when a ship is ready to take on the cargo specified by the charterer. since charters are based on the time from the loading starts until the unloading finishes, the NOR is important as a document to determine the overall cost of chartering a commercial vessel.

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