Glossary of Shipping Terms

ABI-AUTOMATED BROKER INTERFACE
A system available to brokers with the computer capabilities and customs certification to transmit and exchange customs entries and other information, facilitating the prompt release of imported cargo.
ABS
American Bureau of Shipping: A U.S.-based private classification, or standards setting society for merchant ships and other marine systems.
AD VALOREM
Latin for "according to the value." (1) An ad valorem duty is an import duty based on the value of an article as defined in the customs law of a particular country, rather than on weight or volume. A percentage of that value is charged, for example, 5% ad valorem. (2) A freight rate set at a certain percentage of the value of an article is known as an ad valorem rate.
ADMEASUREMENT
The confirmed or official dimensions of a ship.
ADMIRALTY COURT
A court having jurisdiction over maritime questions pertaining to ocean transport, including contracts, charters, collisions, and cargo damages.
ADVISING BANK
A bank operating in the exporter's country that handles letters of credit for a foreign bank by notifying the exporter that the credit has been opened in his favor.
AFFREIGHTMENT, CONTRACT OF
An agreement by a steamship line to provide cargo space on a vessel at a specified time and for a specified price to accommodate an exporter or importer who then becomes liable for payment even though he is later unable to make the shipment.
AFT
In, near, or toward the stern of the vessel.
AGENCY AGREEMENT
An agreement whereby the steamship line appoints the steamship agent and defines the specific duties and areas of responsibility of that agent.
AHT (ANCHOR-HANDLING TUG)
Moves anchors and tow drilling vessels, lighters and similar.
AHTS (ANCHOR-HANDLING TUG/SUPPLY)
Combined supply and anchor-handling ship. Seismic ship: Conducts seismic surveys to map geological structures beneath the seabed.
AMIDSHIPS
Generally speaking the word amidships means in the middle portion of a vessel.
ANTI-TRUST EXEMPTION
The immunity from prosecution under the Sherman Act, granted to steamship companies in 1916, in recognition of the special services and value American Flag merchant vessels provide in the defense of the country in time of war.
ARBITRATION CLAUSE
A standard clause to be included in the contracts of exporters and importers, as suggested by the American Arbitration Association. It states that any controversy or claim will be settled by arbitration in accordance with the rules of the American Arbitration Association.
ARTICLES OF AGREEMENT
The document containing all particulars relating to the terms of agreement between the Master of the vessel and the crew. Sometimes called ship's articles, shipping articles.
ASBA
American Shipbrokers Association
ASTERN
A backward direction in the line of a vessel's fore and aft line; behind. If a vessel moves backwards it is said to move astern; opposite to ahead.
AT SEA
In marine insurance this phrase applies to a ship which is free from its moorings and ready to sail.
AUTOMATED BROKER INTERFACE
(See ABI)
AUTOMATED COMMERCIAL SYSTEM (ACS)
The electronic system of the U.S. Customs Service, encompassing a variety of industry sectors, that permits on-line access to information in selected areas.
AUTOMATED MANIFEST SYSTEM (AMS)
The electronic system allowing a manifest inventory to be transmitted to the U.S. Customs Service data center by carrier, port authority, or service center computers

Glossary of Shipping Terms

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Glossary of Shipping Terms