ABBREVIATIONS M - R

MANIFEST
Inventory of cargo on board

MARPOL 73/78
The International Convention for the Prevention of Pollution from Ships,1973, as modified by the protocol of 1978.
MB
Merchant Broker

MDO (DO)
Marine Diesel Oil

MIDSHIP
Approximately in the location equally distant from the bow and stern

MIN/MAX
Minimum/Maximum (cargo quantity)

MOA
Memorandum of Agreement

MOLCHOPT
More or Less Charterers Option

MOLOO
More or Less Owners Option

MOORING
An arrangement for securing a ship to a mooring buoy or pier

MT
Mertic Tonne (i.e. 1,000 kilos)

M/V
Motor Vessel / Merchant Vessel

NAABSA
Not Always Afloat But Safely Aground

NM
Nautical Mile. One minute of latitude; approximately 6,076 feet - about 1/8 longer than the statute mile of 5,280 feet

NAVIGATION
The art and science of conducting a ship safely from one point to another

NCB
National Cargo Bureau
NEGOTIABLE DOCUMENTS
Legal documents which transfer the right of property from one or more persons to others.
NESTING
Implies that cargo is presented stacked in the contour of similarly shaped cargo, it may be likened to a stack of plates. This is particularly relevant in the presentation of tankage strakes for transport

Nominated Vessel:
The specific vessel which has been designated for a particular voyage.
NON-REVERSIBLE
(Detention). If loading completed sooner than expected, then saved days will not be added to discharge time allowed.

NOR
Notice of Readiness. The declaration of a shipowner to its charterers or cargo suppliers which denotes that the vessel has arrived at its designated port and is ready in all respects to load or discharge the nominated cargo.
NRT
Net Restricted Tonnage

NYPE
New York Produce Exchange

OO
Owners Option

OBO
Ore/Bulk/Oil Vessel
ORIGINAL BILL OF LADING. A bill of lading which usually bears the original signature of the master of a ship or his agent. It is exchanged for the goods at the port of ultimate destination of the contract of carriage.

OSH
Open Shelter Deck

OUTTURN
The final amount of cargo, usually expressed in volume or weight, ascertained to have been discharged from a ship and received ashore. Freight on bulk cargoes is sometimes payable on the basis of this weight.
OVERBOARD
Over the side or out of the ship

OWS
Owners
P&I
Protection and Indemnity Insurance

PARCEL TANKER
A tank vessel designed to carry more than one – and sometimes as many as fifty or more – grades of liquid cargo including chemicals and refined oil products.

PASTUS
Past Us

PC
Period of Charter

PCGO
Part Cargo. Goods which do not represent the entire cargo for a particular ship but whose quantity is sufficient to be carried on charter terms.

PCT
Percent

PDPR
Per Day Pro Rata

PERDIEM
By the Day

PER SE
By Itself

PHPD
Per Hatch Per Day

PLIMSOLL MARK
alt.
PLIMSOLL LINE
alt.
LOAD LINE
An internationally recognized line painted on the side of merchant ships. When a ship is loaded, the water level is not supposed to go above the line. Water can reach different parts of the line as its temperature and saltiness varies with the season and location. From where Plimsoll Shipping derived its name.

PORT
The left side of a ship looking forward. A harbour.

PORT STATE CONTROL
Port State Control is the system whereby the authorities of a State responsible for marine safety are empowered to inspect vessels entering its ports, even if they do not fly the flag of that State, in order to identify ships not complying with applicable norms, especially with respect to safety. Port State Control is typically governed by an international agreement, such as the Paris Memorandum of Understanding (MOU).
POST FIXTURE
Work carried out by a shipowner or shipbroker after the negotiations for the charter of a ship have been finished. This can include payment of freight, calculation of dispatch or demurrage and the resolution of any disputes.

PRATIQUE
Licence or permission to use a port

PREAMBLE
Introduction to a charter party

PROFORMA
Estimated Account

Prompt:
Immediate availability of the cargo or vessel offered in the charter party or any other contract. Similar to Spot.

Protection And Indemnity
Club (P & I). A mutual association formed by shipowners to provide protection from large financial loss to one member by contribution towards that loss by all members. The P&I Club can, in certain cases, cover such costs as defending claims made by cargo owners for cargo ROB volumes or other shortages.
PUS
Plus Us

PWWD
Per Weather Working Day
Quote (TO):
The act of a charterer to make known that a ship is sought for a particular cargo or, as a shipowner, to advertise the availability of his ship for charter. Most often this activity is carried out using the services of shipbrokers.

RCVR
Receiver

RECAP
Recapitulation of the terms and conditions agreed

REVERSIBLE
(Detention). If loading completed sooner than expected at load port, then days saved can be added to discharge operations.

ROB
Remaining On Board. The volume of cargo, usually expressed in barrels or cubic meters, left on board a tankship at a particular point of a voyage. Final ROB volumes after the completion of discharge, if too high (& deemed pumpable IAW C/P terms), can result in cargo claims from the charterer to the shipowner.

RT
Revenue Tonne (i.e. 1.0 metric tonne or 1.0 cubic meter, whichever greater). The overall RT is calculated on a line by line basis of the Packing List using the largest amount. The overall freight liability is calculated on the total RT amount, multiplied by the freight rate.