What is a Magnetic Compass, its principle, types and errors?

• It is the ships standard compass.
• It is fitted above the bridge on the monkey Island at the centre line of the ship.
• When reading output is needed to other bridge equipments, then a transmitting magnetic compass is fitted.

Points to pounder on magnetic compass:

The Magnetic Compass is the most familiar compass type. It functions as a pointer to “Magnetic North”, the local magnetic meridian, because the magnetized needle at its heart aligns itself with the horizontal component of the Earth’s magnetic field. The magnetic field exerts a torque on the needle, pulling one end or pole of the needle approximately toward the Earth’s North magnetic pole, and pulling the other toward the South Magnetic pole. The needle is mounted on a low-friction pivot point, in better compasses a jewel bearing, so it can turn easily. When the compass is held level, the needle turns until, after a few seconds to allow oscillations to die out, it settles into its equilibrium orientation.