Universal Time Co-ordinated. In the past referred to as GMT, also designated as 'Z'

Victor - V = signal letter and flag. Morse = ( . . . - )Flag= Diagonal red cross on a white background.When hoisted singly from a ship it means : "I require assistance."(Kerchove)

A contract whereby the shipowner places the vessel at the disposal of the charterer for one or more voyages, the shipowner being responsible for the operation of the vessel.

Whiskey - W = signal letter and flag. Morse = ( . - - )Flag= Central red square set in a larger white square with all-round blue border. When hoisted singly from a ship it means : "I require medical assistance."(Kerchove)

An index representing the cost of time chartering a tanker for a specific voyage at a given time. The index is given at Worldscale 100, which represents the price in dollars per ton for carrying the oil at that rate. The negotiated rate will be some perce ...

X-ray - X = signal letter and flag. Morse = ( - . . - )Flag= White background and blue Greek cross.When hoisted singly from a ship it means : "Stop carrying out your intention and watch my signal.(Kerchove)

Yankee - Y = signal letter and flag. Morse = ( - . - - )Flag= Diagonal red and yellow stripes.When hoisted singly from a ship it means "I am carrying mail"(Kerchove)

York-Antwerp Rules 1950 Rules to settle General Average claims. Their use is normally stipulated in the B/L or C/P.

Zulu - Z = signal letter and flag. Morse = ( - - . . )Flag= 4 colored triangle having their apex meeting at the center of the flag: black at the hoist, blue at the fly, yellow at the top, red at the bottom. When hoisted singly from a ship it means "I wish ...

ZERNOCON. Old code name for charter parties relating to grain cargoes from Russian, Black sea and Azoff ports to UK. (Kerchove)