CHOPT (Charterer’s option)
If the charterers have an option to nominate any detail in a charter, for example, the “tolerance” percentage of the quantity of cargo to be loaded, this abbreviation is used in fixture telexes and other communications. For example, it may be that the cargo to be loaded is “20,000 metric tons l0pct. CHOPT”. The charterers are allowed to require between 15,000 and 25,000 tonnes of cargo to be loaded, paying freight accordingly.