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Cost of a product before transportation costs are figured in Free on Board Free on Board means that the seller delivers when the goods pass the ship’s rail at the named port of shipment. This means that the buyer has to bear all costs and risks of loss ...

Abbreviation for the "Uniform Customs and Practice for Documentary Credits," published by the International Chamber of Commerce. This is the most frequently used standard for making payments in international trade; e.g., paying on a Letter of Credit. It i ...

The point of the celestial sphere which is directly overhead.

Society of Automotive Engineers.

To tie a rope about a man and, after passing the rope under the ship and bringing it up on deck on the opposite side, haul away, dragging the man down and around the keel of the vessel. As the bottom of the ship was always covered with sharp barnacles, th ...

Abbreviation for "Independent Action." The right of a conference member to publish a rate of tariff rule that departs from the Agreement's common rate or rule.

Charter Party

Revenue per day

A pleasure vessel, a pleasure boat; in American usage the idea of size and luxury is conveyed, either sail or power.

Volume flow rate measured in liters per second

A measurement. Outside diameter.

Abbreviation for "Weight or Measurement;" the basis for assessing freight charges. Also known as "worm." The rate charged under W/M will be whichever produces the highest revenue between the weight of the shipment and the measure of the shipment. ...

[meaning]

A place for the reception, delivery, consolidation, distribution, and storage of goods/cargo.

A term stated on the bills of lading offering lower shipping rates to importers east of the Rockies, provided merchandise from the Far East comes in through the West Coast ports. OCP rates were established by U.S. West Coast steamship companies in conjunc ...

A gentle breeze; the slightest movement of air.

[meaning]

[meaning]

International Maritime Dangerous Goods Code. The regulations published by the IMO for transporting hazardous materials internationally.