Shipping Terms




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Econometric Models

A system of simultaneous equations for forecasting, based on mutual dependency among the variables used.

Economic Speed

That speed of a means of transport which produces the best possible financial result for the owner. Such speed should not be in excess of the maximum or minimum output allowed for the engine(s).

Economy of Scale

A phenomenon which encourages the production of larger volumes of a commodity to reduce its unit cost by distributing fixed costs over a greater quantity.

EDI For Administration, Commerce and Transport

Abbreviation: UN/EDIFACT
The ISO application level syntax rules for the structuring of user data and of the associated service data in the interchange of messages in an open environment.

Electronic Business

The process of transacting business electronically. This includes the sharing of unstructured of structured business information by any electronic means among suppliers, customers, governmental bodies, service providers and other parties in order to conduct and execute transactions in business, administrative and other activities.

Electronic Data Interchange

Abbreviation: EDI
The transfer of structured data, by agreed standards from applications on the computer of one party to the applications on the computer of another party by electronic means.

Electronic Data Processing

Abbreviation: EDP
The computerised handling of information (e.g. business data).

Elevator

Equipment used to discharge some bulk cargoes such as grain which is removed from the hold by a continuous line of buckets or by suction and carried on a conveyor belt to store.

Email (Electronic mail)

The sending of unstructured messages through the use of computer systems from one person to others.

Embargo

A government order prohibiting the entry or departure of commercial vessels or goods at its ports. The refusal by a carrier, for a limited period, to accept for transport over any route or segment thereof, and to or from any area or point, of a connecting carrier, any commodity, type of class of cargo duly tendered (air cargo).

Emergency Medical Service

Abbreviation: EMS
Medical procedures in case of emergencies on board of vessels.

Encryption

A method of converting information into a form which can be transmitted over insecure channels such as phone lines so that confidentiality is preserved.

Endorsement

The transfer of the right to obtain delivery of the goods of the carrier by means of the consignee's signature on the reverse side of a bill of lading. If the name of the new consignee (transferee) is not stated, the endorsement is an open one which means that every holder of the document is entitled to obtain delivery of the goods.

Enquiry

Document issued by a party interested in the purchase of goods specified therein and indicating particular, desirable conditions regarding delivery terms, etc., addressed to a prospective supplier with a view to obtaining an offer.

Ensign

Flag declaring a ship's country of registry. Commissioned officer, lowest rank.

Enterprise

An Organisation created to provide products and/or services to customers.

Entity

A tangible or abstract thing of relevance to business about which data may be kept. Example: Customer, Order

Equipment

Material resources necessary to facilitate the transport and handling of cargo. Transport equipment does under the given circumstances not have the ability to move by its own propulsion (e.g. sea container, trailer, unit load device, pallet).

Equipment Damage Report

Abbreviation: EDR
Written statement concerning damage to equipment, based on a physical inspection.

Equipment Interchange Receipt

Abbreviation: EIR
Physical inspection and transfer receipt.

Estimated Time of Arrival

Abbreviation: ETA
The expected date and time of arrival in a certain (air)port.

Estimated Time of Departure

Abbreviation: ETD
The expected date and time when a certain (air)port is left.

European Article Numbering Association

Abbreviation: EAN

An international body responsible for administering the European Article Numbering system.

It has affiliates in many countries such as: CCG in West Germany, DCC in Japan, ANA in the United Kingdom.

Note: The North American body responsible for the Uniform Product Code (UPC) codingis the Uniform Code Council. (UPC is considered a subset of EAN).

European Pallet Pool

Pool for the exchange of standard size pallets (the so-called Europallets) in European cargo traffic, formed in 1961 by a number of European rail administrators.

European Zone Charge

Abbreviation: EZC
A charge for inland haulage transport in case of carrier haulage in Europe.

Even Keel

Said of a vessel which is balanced in such a way that the draft forward and aft is the same as the draft in the midship of the vessel on both sides.

Event

An occurrence.

Evidence

Something which supports a claim or hypothesis.

Ex Works (...named place)

Abbreviation: EXW
See Inco Terms

Exceptions Clause

See Exemption Clause

Excess

Going over the prescribed amount or degree e.g. excess luggage is luggage of which the weight is over the weight for free carriage.

Excess Stock

That portion of stock on hand which is over and above the desired stock level.

Exchange Rate

The rate at which one currency can be exchanged for another, usually expressed as the value of the one in terms of the other.

Execution

The actual act of carrying out a task.

Exemption Clause

A clause in a contract, which relieves the carrier's responsibility for certain events.

Expected

Likely to occur or appear.

Expediting

The 'rushing' or 'chasing' of production or purchase orders which are needed in less than the normal lead time.

Expendable Pallet

See Disposable Pallet

Expenses

Costs paid out in connection with booking of cargo and arranging transport (e.g. commission).

Expiration

Termination of a certain period.

Export

The process of carrying or sending goods to another country or countries, especially for purposes of use or sale in the country of destination. The sale of products to clients abroad.

Export Licence

Document granting permission to export as detailed within a specified time.

Export Packer

Company, packing goods for export.

Exporter

The party responsible for the export of goods.

Extract

Summary or copy of something written, e.g. used in connection with the log book.

NEWS
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