ppg_chartering_terms.pdf

Chartering Terms

By Kevin Stephens

www.ppg.com.au

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

ABBREVIATION

MEANING

Always Aloat

AAAA

Always Accessible Always Aloat

AAOSA

Always Aloat or Safe Aground. Condition for a vessel whilst in port

AARA

Amsterdam-Antwerp-Rotterdam Area

ABAFT

Toward the rear (stern) of the ship. Behind.

ABOARD

On or within the ship

ABOVE DECK

On the deck (not over it – see ALOFT)

ABSORPTION

Acceptance by the carrier of a portion of a joint rate or charge which is less than

the amount which it would receive for the service in the absence of such joint

rate or charge.

ABT

About

ACCEPTANCE OF GOODS

The process of receiving a consignment from a consignor, usually against

the issue of a receipt. As from this moment and on this place the carrier’s

responsibility for the consignment begins.

ACKNOWLEDGEMENT OF RECEIPT

A notiication relating to the receipt of e.g. goods, messages and documents.

Active Inventory covers raw material, work in progress, inished products that will

be used or sold within a given period without extra cost or loss. This term does

not cover the so-called reserve inventory.

ACTUAL DEMAND

Customers’ orders and often also the allocation of items, ingredients and/or raw

materials to production or distribution.

ACTUAL VOYAGE NUMBER

A code for identiication purposes of the voyage and vessel which actually

transports the container/cargo.

ADCOM

Address Commission

ADDED VALUE

The value attributed to products, and services as the result of a particular process

(e.g. production process, storage, transport).

ADDENDUM

Additional chartering terms at the end of a charter party.

ADVANCE ARRANGEMENT

An agreement between the shipper and the carrier, concerning contacts between

those parties prior to tendering the consignment.

ADVANCED AMOUNT

Cash or cash equivalents expressed in a monetary amount given to a driver

to cover expenses during a trip.

ADVANCED CHARGE

A charge paid by a carrier to an agent or to another carrier, which the delivering

carrier then collects from the consignee. Such charges are usually for agents’

forwarding fees and incidental expenses paid out of pocket for account of the

shipment by an agent or other carrier (aircargo).

ADVANCED INTERLINE

An interline carrier that picks up cargo from the shipper and delivers

it to another carrier for shipment to the consignee.

ADVICE NOTE

A written piece of information e.g. about the status of the goods.

AFSPS

Arrival First Sea Pilot Station (Norway)

AFFREIGHTMENT

The hiring of a ship in whole or part.

AFT

At or towards the stern or rear of a ship.

AGENCY FEE

Fee payable by a shipowner or ship operator to a port agent.

AGENTS

Intelligent software that can be used in an exchange or auction to monitor

prices and conditions on behalf of buyer and supplier and in some cases to

automatically execute trades.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

ABBREVIATION

MEANING

AGGREGATE INVENTORY

The inventory for any group of items or products, involving multiple stock-keeping

units. Synonym: Aggregate Stock.

AGROUND

Touching or fast to the bottom.

AGW

All Going Well

AHL

Australian Hold Ladders

AIDS TO NAVIGATION

Artiicial objects to supplement natural landmarks indicating safe and unsafe

waters.

AIM

See Automatic Identiication Manufacturers.

ALLOCATION

The process of assigning activities, costs or facilities e.g. space to a certain

organizational units.

ALLOTMENT

A share of the capacity of a means of transport assigned to a certain party, e.g. a

carrier or an agent, for the purpose of the booking of cargo for a speciic voyage.

ALOFT

Above the deck of the ship

AMIDSHIPS

In or toward the centre of the ship

ANCHORAGE

A place suitable for anchorage in relation to the wind, seas and bottom.

ANTHAM

Antwerp-Hamburg Range

APPAREL

A vessel’s outit, such as rigging, anchor and life boats. The term used in

distribution/transport of clothing for a single piece of clothing, a garment.

APPLICABLE SERVICE PROVIDER

An online outsourcer or hosting service for applications, letting Net market

makers rent instead of buying applications and services such as auctions,

exchanges and catalog aggregation. Many application vendors are moving to a

hosting model, but ASPs are often application-agnostic, plugging a feature of one

application into a marketplace when appropriate and using another feature from

another vendor elsewhere.

APPROVED CONTINUOUS

EXAMINATION PROGRAM (ACEP)

An agreement between the owners of the equipment and the responsible

governmental body to allow continuous examination of the equipment (e.g.

containers).

APRON

See Platform

APRYCLEE

A network of national information centres of information technologies.

APS

Arrival Pilot Station

ARAG

Amsterdam-Rotterdam--Antwerp-Gent Range

AREA OF REPAIR

Geographical area where a container is under repair.

ARBITRATION

Method of settling disputes which is usually binding on parties. A clause usually

in a charter party.

AREA CODE

A code for the area where a container is situated.

AREA OFF HIRE LEASE

Geographical area where a leased container becomes off hire.

AREA OFF HIRE SUB-LEASE

Geographical area where a subleased container becomes off hire.

AREA ON HIRE LEASE

Geographical area where a leased container becomes on hire.

AREA ON HIRE SUB-LEASE

Geographical area where a subleased container becomes on hire.

ARRIVAL NOTICE

A notice sent by a carrier to a nominated notify party advising of the

arrival of a certain shipment.

ARTICLES DANGEREUX DE ROUTE (ADR) An European agreement concerning the international carriage

of dangerous goods by road.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

ABBREVIATION

MEANING

A/S

Alongside

ASBA

American Shipbrokers Association

ASPW

Any Safe Port in the World

ASSEMBLY

The stage of production in which components are put together into

an end product appropriate to the process concerned

ASSIGNMENT

The transfer of certain rights from one party to another

ASTERN

In the back of the ship, opposite of ahead

ATDNSHINC

Any Time Day/Night Sundays and Holidays Included

ATHWARTSHIPS

At right angles to the centreline of the ship

ATUTC

Actual Times Used to Count

AUCTIONS

Let multiple buyers bid competitively for products from individual suppliers.

Suitable for hard-to-move goods such as used capital equipment (forklifts) and

surplus or excess inventory. Prices only move up, but buyers can buy below list

prices while sellers sell for more than a liquidator pays. Auctions are becoming

a feature of many Net markets, but some use auctions as their primary market

mechanism. Examples: AdAuction, TradeOut.com (used equipment).

AUDIT

A methodical examination and review of a situation or condition (as within

a business enterprise) concluding with a detailed report of indings.

AUTHENTICATION

Proof by means of a signature or otherwise that a certain document or certain

data is of undisputed origin and genuine.

AUTHORISATION

The commission to a certain person or body to act on behalf of another person or

body. The person or body can be authorized e.g. to issue Bills

of Lading or to collect freight.

AUTO CONTAINER

Container equipped for the transportation of vehicles.

AUTOMATIC IDENTIFICATION

A means of identifying an item e.g. a product, parcel or transport unit by a

machine (device) entering the data automatically into a computer. The most

widely used technology at present is bar code; others include radio frequency,

magnetic stripes and optical character recognition

AUTOMATIC IDENTIFICATION

MANUFACTURERS (AIM)

International organization of companies and/or associations involved or

interested in automatic identiication.

AVERAGE

In marine insurance: A loss or damage to or in respect of goods or equipment.

The numerical result obtained by dividing the sum of two or more quantities by

the number of quantities.

AVERAGE ADJUSTERS

In general average affairs average adjusters are entrusted with the task

of apportioning the loss and expenditure over the parties interested in the

maritime venture and to determine which expenses are to be regarded as

average or general average.

BACKBONE

A central high speed network that connects smaller, independent networks. the

NSFnet is an example.

BACK END SYSTEMS

Legacy enterprise systems that handle order processing, inventory, and

receivables management for both buyers and suppliers. To deploy a digital

trading platform, companies must often integrate new technologies with these

older systems, which can include mainframe or ERP applications.

BACK HAUL

The return movement of a means of transport which has provided a transport

service in one direction.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

ABBREVIATION

MEANING

BACKLETTER

Where a seller/shipper issues a ‘letter of indemnity’ in favour of the carrier in

exchange for a clean bill of lading. Back letters are drawn up in addition to a

contract in order to lay down rights and/or obligations between both contracting

parties, which, for some reason cannot be included in the original contract. This

expression is sometimes used for letters of indemnity which are drawn up if

the condition of the goods loaded gives rise to remarks and, nevertheless, the

shipper insists upon receiving clean Bills of Lading. Letters of indemnity are only

allowed in very exceptional circumstances.

BACK ORDER

A customer’s order or commitment that is unilled due to insuficient stock.

BACK SCHEDULING

A method of obtaining a production schedule by working backwards from the

required due date, in order to predict the latest start date in consistent with

meeting that due date.

BACKLOG

The quantity of goods still to be delivered, received, produced, issued, etc., for

which the planned or agreed date has expired. The total number of customer

orders which have been received but not yet been shipped. Synonym: Open

Order.

BAF

Bunker Adjustment Factor. A Fuel Surcharge expressed as a percentage added or

subtracted from the freight amount, relecting the movement in the market place

price for bunkers.

BALE CAP.

Cubic capacity of a vessels holds to carry packaged dry cargo such as bales/

pallets.

BALE SPACE

The balespace of a vessel is the capacity of cargo spaces under deck (including

hatchways but excluding void spaces behind cargo battens and beams) expressed

in cubic metres or cubic feet.

BALLAST

Heavy weight, often sea water, necessary for the TRIM AND stability and safety of

a vessel. In vessels usually water is carried as ballast in tanks, specially designed

for that purpose.

BALLAST BONUS

Compensation for relatively long ballast voyage.

BANKING SYSTEM

For marine purposes the practice of always keeping more than one piece

of cargo on the quay or in the vessel ready for loading or discharging in order to

avoid delays and to obtain optimal use of the loading gear.

BAR CODING

A method of encoding data for fast and accurate electronic readability. Bar codes

are a series of alternating bars and spaces printed or stamped on products,

labels, or other media, representing encoded information which can be read

by electronic readers, used to facilitate timely and accurate input of data to

a computer system. Bar codes represent letters and/or numbers and special

characters like +, /, -, ., etc.

BAREBOAT CHTR.

Bareboat Charter - Owners lease a speciic ship and control its technical

management and commercial operations only. Charterers take over all

responsibility for the operation of the vessel and expenses for the duration.

BARGE

Flat bottomed inland cargo vessel for canals and rivers with or without own

propulsion for the purpose of transporting goods.

Synonym: Lighter.

BARS

Special devices mounted on container doors to provide a watertight locking.

Synonym: Door lock bars.

BASE

Home depot of container or trailer.

BASIC STOCK

Items of an inventory intended for issue against demand during the resupply

lead-time.

BATCH

A collection of products or data which is treated as one entity with respect

to certain operations e.g. processing and production.

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