Chartering Terms


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.

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

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.

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.

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

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.

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.

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.

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

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).

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.

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).

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.

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

Owner’s Container Code
See Container Prefix