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A-Z Dictionary of Export, Trade and Shipping Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

O

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 thedevelopments in the area of simplification of EDI and its standards. A business object is atrue 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 andwhich is to be sold or disposed of through the usual outlets.
OEM - Original Equipment Manufacturer
Containment-based re-branding, namely where one company uses a component of another company within its product, or sells the product of another company under its own brand. OEM refers to the company that originally manufactured the product.
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 Board" Bill of Lading
A bill of lading in which a carrier acknowledges that goods have been placed on board a certain vessel.
Open Cargo Policy
Synonymous with "Floating Policy." An insurance policy which binds the insurer automatically to protect with insurance all shipments made by the insured from the moment the shipment leaves the initial shipping point until delivered at destination. The insuring conditions include clauses naming such risks insured against as "perils of the sea," fire, jettison, forcible theft, and barratry. See >'Perils of the Sea," "Barratry," "All Risks Clause."
"Order" Bill of Lading
A bill of lading, negotiable, made out to the order of the shipper.
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 afterdischarge 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 theforks of e.g. a fork lift can enter, as opposed to the two and four way pallets.

See Disposable Pallet
Open Order
See Backlog
Open Sided Container
P&O Nedlloyd container with frames with wire-mesh at the sides covered by means of atarpaulin, which can be dropped down to, give unrestricted access to the sides of thecontainer for loading or discharging.
Open Top Container
A freight container similar in all respects to a general purpose container except that it has norigid roof but may have a flexible and movable or removable cover, for example one made ofcanvas or plastic or reinforced plastic material normally supported on movable or removableroof bows.
Operating Efficiency
A ratio of the actual output of a piece of equipment, department, or plant as compared to theplanned or standard output.
Operations Research
The development and application of quantitative techniques to the solution of problems. Morespecifically, theory and methodology in mathematics, statistics, and computing are adapted andapplied to the identification, formulation, solution, validation, implementation, and control of decisionmaking problems.
Operator
The party responsible for the day to day operational management of certain premises suchas ware-houses, terminals and vessels.
Optimal Trim
The best calculated TRIM related to speed engine capacity, fuel consumption for a specificsailing 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 purchasingan otherwise basic standard product and that has to be an integral part of the product (usedin commercial trading).
Optional Cargo
Cargo of which the final destination is not known at the moment of booking but will beindicated 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 KeepingUnit (SKU) only, but the number may vary.
Organisation
An identifiable social unit with a particular responsibility which endeavour to achieve multiplegoals 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.
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Outsider
A carrier, which operates on a route served by a liner conference but which is not a memberof that conference.
Outsourcing
Subcontracting of activities.
Outturn Report
Written statement by a stevedoring company in which the condition of cargo discharged froma vessel is noted along with any discrepancies in the quantity compared with the vessel'smanifest.
Outward Handling
The operations to be performed on outgoing goods from a production unit, bothadministrative and physical, starting at the moment forwarding orders can be executed to themoment 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 handlingunit for convenience of handling and stowage. Dangerous goods packages contained in theoverpack must be properly packed, marked, labelled and in proper condition as required bythe Regulations regarding dangerous goods (air cargo).
Overtime
Work beyond normal established working hours which usually requires a premium to be paidto 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
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