Also known as PM, maintenance performed according to a fixed schedule involving the routine repair and replacement of machine parts and components.

A device for transforming the quality and quantity of electrical energy; also an inverter.

A protective options strategy in which a written call and a long put are taken against a previously.

A change made either in the route of a shipment in transit (see Reconsignment) or of the entire ship.

A receipt for goods issued by a carrier with an indication that the goods were damaged when received. Compare Clean Bill of Lading.

A term used in life assurance where under certain conditions, life assurance premium relief.

Insurance which gives cover in respect of the contents of a home. This includes damage, theft or.

Small marlinespike.

The aft edge of a sail, more commonly called the leech.

An invoice provided by a supplier prior to the shipment of merchandise, informing the buyer of the kinds and quantities of goods to be sent, their value, and specifications (weight, size, etc.).

Turning out all hands on board ship in the morning, or calling the watch for duty on deck.

An account, with a bank (or additionally a building society in the UK) into which deposits are made.

A blend of gases tailored to replace the normal atmosphere within a container.

A trust which has been registered with the appropriate authority and which enjoys income tax.

The operation of swinging round, by means of braces, the yards of a square rigged ship to set the sails more efficiently to the wind.

To collide with a vessel head on.

Legendary opportunists who lured vessels onto shoals during nights when there was no moonlight to illuminate the coastline.

Wing-like retractable devices extending from the sides of the vessel to dampen down rolling in seas and produce a steadier, smoother, and more comfortable motion.

Chemicals containing carbon and hydrogen.

An approach to stockpicking which focuses on the search for shares whose prices have dropped so low.