Shipping Terms




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Object

A tangible of abstract thing of relevance to business.

Object Oriented Approach

The development of classes of business objects may support and have an impact on the developments in the area of simplification of EDI and its standards. A business object is a true representation of a tangible concept stemming from real business usage.

Obsolete Stock

The products or materials that cannot be or is unlikely to be used in future processes and which is to be sold or disposed of through the usual outlets.

Offshore

Contracting work carried out at sea (e.g. drilling for oil).

Oil Bulk Ore Vessel

Abbreviation: OBO-Vessel A vessel designed for the carriage of either dry or liquid bulk cargo.

On-line Charge

The charge which applies to carriage over the lines of a single carrier.

On-line Rate

See On-line Charge

Oncarriage

The carriage of goods (containers) by any mode of transport to the place of delivery after discharge from the ocean vessel (main means of transport) at the port (place) of discharge.

One Stop Shop

An organisation, which provides all needed requirements in one location.

One Way Pallet

Note: The addition 'One Way' has nothing to do with the number of pallet sides in which the forks of e.g. a fork lift can enter, as opposed to the two and four way pallets.

Open Sided Container

P&O Nedlloyd container with frames with wire-mesh at the sides covered by means of a tarpaulin, which can be dropped down to, give unrestricted access to the sides of the container for loading or discharging.

Open Top Container

A freight container similar in all respects to a general purpose container except that it has no rigid roof but may have a flexible and movable or removable cover, for example one made of canvas or plastic or reinforced plastic material normally supported on movable or removable roof bows.

Operating Efficiency

A ratio of the actual output of a piece of equipment, department, or plant as compared to the planned or standard output.

Operations Research

The development and application of quantitative techniques to the solution of problems. More specifically, theory and methodology in mathematics, statistics, and computing are adapted and applied to the identification, formulation, solution, validation, implementation, and control of decision making problems.

Operator

The party responsible for the day to day operational management of certain premises such as ware-houses, terminals and vessels.

Optimal Trim

The best calculated TRIM related to speed engine capacity, fuel consumption for a specific sailing condition.

Optimization

Achieving the best possible solution to a problem in terms of a specified objective function.

Option

One of a limited range of choices or features that is offered to a customer when purchasing an otherwise basic standard product and that has to be an integral part of the product (used in commercial trading).

Optional Cargo

Cargo of which the final destination is not known at the moment of booking but will be indicated during the transport.

Optional Port

A port of which it is not known whether or not a vessel during a voyage will make a call.

Order

A request to deliver specified quantities of goods or to render specific services.

Order Line

Each line on a customer's purchase order. An order line always contains one Stock Keeping Unit (SKU) only, but the number may vary.

Organisation

An identifiable social unit with a particular responsibility which endeavour to achieve multiple goals by co-ordinated activities and relationships between members and objects.

Out of Gauge Cargo

Cargo which dimensions are exceeding the normal dimensions of a 20 or 40 feet container, e.g. overlength, overwidth, overheight, or combinations thereof.

Outsider

A carrier, which operates on a route served by a liner conference but which is not a member of that conference.

Outsourcing

Subcontracting of activities.

Outturn Report

Written statement by a stevedoring company in which the condition of cargo discharged from a vessel is noted along with any discrepancies in the quantity compared with the vessel's manifest.

Outward Handling

The operations to be performed on outgoing goods from a production unit, both administrative and physical, starting at the moment forwarding orders can be executed to the moment of actual departure of the goods.

Over Pivot Rate

The rate per kilogram to be charged for the over pivot weight (air cargo).

Over Pivot Weight

The weight in excess of the pivot weight (air cargo).

Overcarrier

A carrier within a consortium who carries cargo beyond the allotment distributed to him.

Overheight Cargo

Cargo, exceeding the standard height.

Overlength Cargo

Cargo, exceeding the standard length.

Overpack

A unit used by a single shipper to contain one or more packages and to form one handling unit for convenience of handling and stowage. Dangerous goods packages contained in the overpack must be properly packed, marked, labelled and in proper condition as required by the Regulations regarding dangerous goods (air cargo).

Overtime

Work beyond normal established working hours which usually requires a premium to be paid to the employees concerned.

Overwidth Cargo

Cargo, exceeding the standard width.

Owner

The legal owner of cargo, equipment or means of transport.

Owner's Container Code

See Container Prefix

NEWS
air cargo china cancelled the global covid-19 pandemic is growing in scale and is exceeding all ex-pectations. in consultation with partners and associations of the air freight industry messe münchen feels compelled to cancel air cargo china, which was scheduled for june 16–18 in shanghai. lufthansa hopes to keep cargo flying lufthansa cargo is making every effort to maintain the flight operations of its cargo aircraft in the current corona crisis. turkish cargo puts cargo in the passenger cabin turkish cargo will utilise their network and fly their turkish airlines passenger aircraft for airfreight as repercussions from the coronavirus outbreak and travel bans send global supply chains into disarray. latam cargo mitigates supply chain difficulties through freighters latam cargo has sought to mitigate the current difficulties through its 11 b767-300 freighter aircraft, which make latam cargo group the cargo airline with the most freighters operating in latin america. swiss worldcargo to commence freight-only flights swiss worldcargo has announced that this week will see the commencement of cargo-only flights on some aircraft. heathrow calls on supply chain to maximise capacity heathrow will be stepping up its cargo capabilities as it calls on more airlines and freight companies to maximise the use of the hub airport’s quieter schedule so that the aviation industry can play its part in the economic and social fight against covid-19. turkish cargo connects linz with direct freighter service turkish cargo is continuing to increase its network announcing new direct freighter flights to linz (austria). caribbean airlines cargo suspends two freighter services caribbean airlines has temporarily suspended its tuesday and thursday freighter flights etihad announces new freighter schedule etihad cargo has announced its freighter schedule for the iata summer season, boosting capacity to its top freighter gateways. atlas air’s flynn on track for a new career former atlas air president and ceo william j flynn has been appointed as us passenger train operator amtrak’s next chief executive officer and president. swiss worldcargo extends china suspensions in light of the current coronavirus situation, swiss and swiss worldcargo have made further adjustments on flights between zurich and beijing, shanghai and hong kong. fraport announces cost-reduction measures in response to coronavirus frankfurt airport operator fraport has announced new cost-reduction measures in response to the impact of the coronavirus. silkway keeps flying the current corona epidemic is having a significant impact on the air cargo industry. the aviation industry has taken the hit of coronavirus “airlines, aviation financing and plane makers – inherently vulnerable to the economic side-effects of a potential pandemic – faced challenges as the year began, ensuring they are now at growing risk of severe coronavirus-related disruption,” says scope, specialist financial analysts. covid-19: the disruption continues for supply chains richard wilding obe, professor of supply chain strategy at the uk’s cranfield university, comments on the latest challenges covid-19 presents the supply chain. he points out that consumer demand for face masks is impacting on wider industry needs. cargolux and atlas air predict a subdued airfreight market in 2020 the cargo freight market is likely to remain weak this year, industry leaders believe, as it remains hampered by overcapacity and weak growth in several regions around the world. finnair cancels mainland china flights until the end of winter finnair will cancel its flights to beijing capital airport and to shanghai during march 1-28, 2020 (until the end of the winter season), as the coronavirus situation has led to a temporary decline in air travel between china and europe. airbridgecargo offers charter flights to meet coronavirus-related demand the volga-dnepr group has been operating as many as five “sterilised” charter flights into china each day to cater for coronavirus related demand. valentines boost for latam cargo more than 210 latam cargo boeing 767-300 freighters took off from colombia and ecuador, carrying 12,600 tons of flowers for the 2020 valentine’s day season maersk line partnering with portrix maersk line is partnering with portrix logistic software gmbh (pls) to integrate spot pricing into pls’ market leading global price management (gpm) software solution.