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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

P

P & I Club
See Protection and Indemnity Club
Package
  1. Any physical piece of cargo in relation to transport consisting of the contents andits packing for the purpose of ease of handling by manual or mechanical means.
  2. The final product of the packing operation consisting of the packing and itscontents to facilitate manual or mechanical handling.
Packaging
Materials used for the containment, protection, handling, delivery and presentation of goodsand the activities of placing and securing goods in those materials.
Packing
Any container or other covering in which goods are packed.
Packing Instruction
Document issued within an enterprise giving instructions on how goods are to be packed.
Packing List
A list which shows number and kinds of packages being shipped, totals of gross, legal, and net weights of the packages, and marks and numbers on the packages. The list may be requested by an importer or may be required by an importing country to facilitate the clearance of goods through customs.
Packing Unit
A type of package where a standard quantity of products of a specific product type can bepacked and that requires no additional packaging for storage and shipment.
Pallet
A platform on which goods can be stacked in order to facilitate the movement by a fork lift orsling.
Pallet Convertor
Superstructure which can be applied to a pallet to convert it into either a box or post pallet.
Pallet Rack
A skeleton framework, of fixed or adjustable design, to support a number of individual palletloads.
Pallet Truck
Pedestrian- or rider-controlled non-stacking lift truck fitted with forks.
Panamax Size
The maximum measurements and dimensions of a vessel capable to pass the PanamaCanal.
Parcel
See Package
Partial Shipment
  1. The partial shipment --- part shipment ---is allowed, unless otherwise stipulated in the L/C.

    When shipments are made on different dates and/or different ports or points of origin, but the transport documents indicate the same destination and bear the same means of conveyance for the same journey, they are not regarded as covering partial shipments. Please see Case Sample: Non-Partial Shipment below.

    When shipments are made by post or by courier, if the post receipts or the courier's receipts bear the same date and place of dispatch and have been authenticated by any stamp, signature, mark, or label, they are not regarded as partial shipment.

Participating Carrier
  1. A carrier participating in a tariff and who therefore applies the rates, charges,routing and regulations of the tariff.
  2. A carrier over whose air routes one or more sections of carriage under the AirWaybill is undertaken or performed (air cargo).
Particular Average
A fortuitous partial loss to the subject matter insured, proximately caused by an insured perilbut which is not a general average loss. Particular average only relates to damage and/orexpenses which are exclusively borne by the owners of a vessel which has sustaineddamage as a result of e.g. heavy weather or by the owners of the cargo, which has beendamaged in transit.
Partition
See Divider
Partnership
An ongoing relationship between two organisations which involves a commitment over anextended time period and a mutual sharing of the risks and rewards of the relationship.
Payee
A party to whom a payment is made or owed.
Payer
A party who pays or is to pay.
Payload
The revenue-producing load carried by a means of transport.
Payment
That which discharges a debt.
Payment Against Documents
Instructions given by a seller to a bank to the effect that the buyer may collect the documentsnecessary to obtain delivery of the goods only upon actual payment of the invoice.
Perils of the Sea
A marine insurance term used to designate heavy weather, stranding, lightning, collision, and sea water damage.
Performance Indicator
A variable indicating the effectiveness and/or efficiency of a process.
Performance Measurement
The comparison of the results of business processes with each other or with standards inorder to know the effectiveness of these processes and/or the supportive actions.
Permeability
Ratio expressed as a percentage assumed for the volume of a compartment which can beflooded by water after damage, to the total volume of that compartment; respectively theactual calculated value of that ratio.
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Phased Delivery
The delivery of parts of the shipment.
Physical Distribution
Those activities related to the flow of goods from the end of conversion to the customer.
Physical Distribution Management
The planning execution and control of those activities which are related to the flow of goodsfrom the end of conversion to the customer.
Pick Order
An order to pick certain quantities of goods out of a stock.
Pick Up Service
The carriage of outbound consignments from the point of pick up to the airport of departure(air cargo).
Pick Up and Delivery
A service concerning the collection of cargo from the premises of the consignor and thedelivery to the premises of the consignee.
Pick and Pack
Taking goods out of a stock and packing them according to customer conditions.
Picking
Taking products or components out of a stock.
Picking List
A list used to collect items from stores needed to fulfil an order.
Pier
See Quay
Piggybacking
The assigning of export marketing and distribution functions by one manufacturer to another.
Piggyback
The carriage of road vehicles and trailers on railway wagons.
Pilferage
Petty stealing of goods from a ship's hold, cargo shed or warehouse.
Pilot
  1. Local expert advising a vessel's captain on safe navigation in those areas wherethe captain is ignorant of local circumstances or where it is obligatory to take apilot.
  2. A person qualified to operate the controls of an aircraft.
Pilot In Command
The pilot responsible for the operation and safety of the aircraft during flight time.
Pipeline
  1. A line of pipes for conveying liquids and gasses.
  2. The physical goods flow from a supplying organisation to a receiving organisation.
Pipeline Inventory
The amount of goods in a pipeline: the sum of loading stock, goods in transit and receivingstock.
Pivot Weight
Minimum chargeable weight of a Unit Load Device.
Place of Acceptance
See Place of Receipt
Place of Delivery
The location where a consignment (shipment) is delivered to the consignee viz. the placewhere the carrier's liability ends for the transport venture.
Place of Despatch
Name and address specifying where goods are collected or taken over by the carrier(i.e. if other than consignor).
Place of Receipt
The location where a consignment (shipment) is received by the carrier from the shipper viz.the place where the carrier's liability for transport venture commences.
Placement
The activity of positioning an object or goods in a chosen location or position.
Planning
The setting of goals over a certain time and the determination of how to achieve these goalsand with what resource.
Planning Horizon
The period of time to which a certain particular plan relates.
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Platform
The area on an airport where aircrafts are parked for embarkation and/or loading anddischarging purposes (air cargo).
Platform Body
A truck or trailer without ends, sides or top but with only a floor.
Plimsoll Mark
A mark, welded on both sides of the vessel, which gives the limit to which a vessel may beloaded, depending on the specific gravity of the water in which the vessel is situated.
Point Value
The point value can be seen as the relative value of an empty container of a certain size typein a depot location. The system serves to quantify the imbalance costs resulting from a fullcontainer move and are the result of empty optimisation calculations.

Point values are created on forecasted container flows between depot locations.

They are calculated taking into account a.o. the forecasted imbalances plus repositioning,storage and container costs for empty moves and expressed in USD.

Note: In the various computer systems point values are used to calculate the imbalancecharge or credit for a particular container flow. This charge or credit is the difference in pointvalues between start and end depot location.

Point to Point Transport
See House to House Transport
Pontoon
A floating flat structure used for work alongside the ship, to facilitate embarkation ordisembarkation of persons, or to move cargo alongside.
Pool
The shared use of e.g. equipment by a number of companies, which make together theinvestments in the equipment mentioned.
Poop
Aft part of a vessel where the steering engine is located.
Port
  1. Harbour having facilities for vessels to moor and load or discharge.
  2. Left side of a vessel when facing towards the front or forward end.
Port Marks
See "Marks."
Port of Call
Place where a vessel actually drops anchor or moors during a certain voyage.
Port of Discharge
The port where the cargo is actually discharged (unloaded) from the sea (ocean) goingvessel.
Port of Loading
The port where the cargo is actually loaded on board the sea (ocean) going vessel.
Portal Crane
A type of gantry crane with vertical legs of sufficient height and width to permit vehicles orrailroad equipment to pass between the legs.
Portlog
A statement concerning a vessel containing the actual arrival and departure time used tugs,draft, dead-weight, quantity of discharged and loaded goods/containers and any otherimportant particulars.
Positioning
The transport of empty equipment from a depot to shipper's premises or from consignee'spremises back to a depot as the empty leg of a carrier haulage transport.
Postal Code
A national code maintained by the Postal Authorities designed to indicate areas andaccumulated addresses to facilitate sorting and the delivery of mail and other goods.

Note: The coding system is different in the various countries throughout the world. In theNetherlands the code consists of 4 figures and 2 characters.

Practice
That what has become customary as a result of repeated acts.
Pre-slinging
The act of placing goods in slings which are left in position and used for loading into anddischarging from a conventional vessel.
Pre-trip Inspection
Abbreviation: PTI
A technical inspection of Reefer containers prior to positioning for stuffing.
Precarriage
The carriage of goods (containers) by any mode of transport from the place of receipt to theport (place) of loading into the ocean vessel (main means of transport).
Precarrier
The carrier by which the goods are moved prior to the main transport.
Preshipment Inspection
Abbreviation: PSI
The checking of goods before shipment for the purpose of determining the quantity and/orquality of said goods by an independent surveyor (inspection company) for phytosanitary,sanitary and veterinary controls.

Presently there is a tendency by developing countries to use the inspection also for thepurpose of determining whether the price charged for certain goods is correct.

Principal
Person for whom another acts as agent.
Principal Carrier
See Responsible Carrier
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Principal Corporate Body
The company that owns the various subsidiary companies or branches acting as customerson their own and is registered as the corporate customer for statistical purposes.
Priority Order
An order which is identified as taking precedence over other orders to ensure its completionin the minimum time.
Private Warehouse
A warehouse operated by the owner of the goods stored there.
Pro Forma Invoice
Draft invoice sent to an importer by the exporter prior to order confirmation and shipment toassist in matters relating to obtaining import licences or foreign exchange allocations, orsimply to advise the value of a consignment so that letters of credit can be opened.
Procedure
Steps to be followed in order to comply with a formality, including the timing, format andtransmission method for the submission of required information.
Process Mapping
A diagrammatically break down of a supply chain.
Procurement
The activities which ensure the availability of the material and or services in the desiredquantity, quality, place and time from the supplier.
Procurement Logistics
Control of the flow of materials up to the manufacturing process.
Product
A result, end items or output from a certain process.
Product Chain
All phases in the transformation- or production process of one product.
Product Life Cycle
The period of time between the introduction date and end date of a product in the market.

Note: Phases are introduction, growth, maturity, saturation, decline & end.

Production
  1. The conversion of materials and or assembly of components to manufacturegoods, products or services.
  2. The total quantity of goods manufactured or to be manufactured in a particularperiod of time expressed in quantitative or financial terms. (The termmanufacturing is often used specifically for physical operations resulting in aproduct).
Productivity
Relative measure of output of labour hour or machine hour.
Profit Centre
An organisational unit which will be held responsible for its own profits and losses.
Project Cargo
Quantity of goods connected to the same project and often carried on different moments andfrom various places.
Project Management
Managing a transport project, which involves the design and implementation of logisticssolutions including resource planning, costing and profits.
Proof of Delivery
The receipt signed by the consignee upon delivery.
Proper Shipping Name
A name to be used to describe particular goods on all P&O Nedlloyd documents andnotifications and, if appropriate, on the goods.basis (air cargo).
Protection and Indemnity Club
Abbreviation: P & I club
A mutual association of shipowners who provide protection against liabilities by means ofcontributions.
Protocol
A statement drawn up to attest certain events.
Public Authorities
The agencies or officials in a state responsible for the application and enforcement of thelaws and regulations of that state. Source: IMO.
Public Warehouse
A warehouse which is available to all companies and persons who wish to make use of theservices offered.
Published Charge
A charge, the amount of which is specifically set forth in the carrier's rates tariff.
Published Rate
See Published Charge
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Pull Distribution System
A system to provide warehouses with new stock on request of the warehouse management.
Purchase Order
A definite order for one or more deliveries by the supplier to the customer of a specificquantity of goods, materials, services or products under agreed terms of delivery and prices.
Purchase Order Management
Supply chain management to purchase order article level.
Push Distribution System
A system to provide warehouses with new stock upon decision of the supplier of the goods.
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
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