Terms used in shipping such as Gross Tonnage,Group of Fifteen,Group of Ten ,Group of Seven ,Gross Tonnage,General Sales Manager

 

Terms used in shipping such as Gross Tonnage,Group of Fifteen,Group of Ten ,Group of Seven ,Gross Tonnage,General Sales Manager etc.

 

 

This post explains about terms used in shipping such as Gross Domestic Product, Gross Terms,Gross Tonnage,Group of Fifteen,Group of Ten ,Group of Seven ,Gross Tonnage,General Sales Manager,Gross registered tons etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.

 

Terms used in shipping

 

Gross Domestic Product - A measure of the market value of all goods and services produced within the boundaries of a nation, regardless of asset ownership. Unlike gross national product, GDP excludes receipts from that nation's business operations in foreign countries, as well as the share of reinvested earnings in foreign affiliates of domestic corporations.

 

GROSS FREIGHT:Freight money collected or to be collected without calculating the expenses relating to the running cost of the ship for the voyage undertaken.

 

Terms used in shipping such as Gross Tonnage,Group of Fifteen,Group of Ten ,Group of Seven ,Gross Tonnage,General Sales Manager etcGross National Product - A measure of the market value of goods and services produced by the labor and property of a nation. Includes receipts from that nation's business operation in foreign countries, as well as the share of reinvested earnings in foreign affiliates of domestic corporations.

 

GROSS REGISTERED TONS:A common measurement of the internal volume of a ship with certain spaces excluded. One ton equals 100 cubic feet; the total of all the enclosed spaces within a ship expressed in tons each of which is equivalent to 100 cubic feet.

 

Gross Terms - Type of voyage charter in which the shipowner pays for loading and discharging.

 

Gross Tonnage (GT):Applies to vessels, not to cargo, (0.2+0.02 log10V) where V is the volume in cubic meters of all enclosed spaces on the vessel.

 

Gross Tonnage:Applies to vessels, not to cargo. Determined by dividing by 100 the contents, in cubic feet, of the vessel's closed-in spaces. A vessel ton is 100 cubic feet.

 

Gross Vehicle Weight - The total weight of the transport and its cargo is called the gross vehicle weight or GVW.

 

Gross Weight - It is the entire weight of goods, packing, and container, which is ready for shipment.

 

Gross Weight - The full weight of a shipment, including goods and packaging. Compare Tare Weight.

 

Gross Weight:Entire weight of goods, packaging and freight car or container, ready for shipment. Generally, 80,000 pounds maximum container, cargo and tractor for highway transport.

 

Gross Weight:The total weight of a shipment of goods, including their packaging such as crates, pallets etc.

 

GROUNDING:Deliberate contact by a ship with the bottom while she is moored or anchored as a result of the water level dropping.

 

Group of Eleven - The G-11 (also known as the Cartagena Group) was established in 1984 and comprises the largest debtor nations in Latin America: Argentina, Bolivia, Brazil, Chile, Colombia, Dominican Republic, Ecuador, Mexico, Peru, Uruguay, and Venezuela.

 

Group of Fifteen - The G-15, established in 1990, consists of relatively prosperous or large developing countries. The G-15 discusses the benefits of mutual cooperation in improving their international economic positions. Members include: Algeria, Argentina, Brazil, Egypt, India, Indonesia, Jamaica, Malaysia (a very active member), Mexico, Nigeria, Peru, Senegal, Venezuela, Yugoslavia, and Zimbabwe.

 

Group of Five - Similar to the Group of Seven (G-7), with the exception of Canada and Italy.

 

Group of Seven - This term refers to seven major economic powers (Canada. France, Germany, Great Britain, Italy, Japan, and the United States) whose finance ministers seek to promote balanced economic growth and stability among exchange rates.

 

Group of Seventy-Seven - A grouping of developing countries which received its name in connection with 77 countries issuing a joint statement in Geneva, Switzerland in 1964. The G-77's primary focus is serving as a caucus for articulating members' collective interests primarily in areas of promoting economic cooperation among developing countries and in negotiations on economic matters with developing countries. G-77 membership has increased since 1964 to over 125 countries.

 

Group of Ten - Under the International Monetary Fund's General Agreements to Borrow (GAB), established in 1962, 10 of the wealthiest industrial members of the IMF "stand ready to lend their currencies to the IMF up to specified amounts when supplementary resources are needed." The finance ministers of these countries comprise the Group of 10 (also called the Paris Club). Members include: Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, the United Kingdom, and the United States. Though numbering 11 with the addition of Switzerland in 1984, the numerical name persists.

 

Group of Twenty-four - A grouping of finance ministers from 24 developing country members of the International Monetary Fund. The Group, representing eight countries from each of the African, Asian, and Latin American country groupings in the Group of 77, was formed in January 1972 to counterbalance the influence of the Group of 10.

 

Groupage - See consolidation.

 

Groupage Bill of Lading - Bill of Lading, issued by a carrier to a forwarding agent, sometimes known as a groupage agent or consolidator, which covers consignments from various shippers for the same destination which have been consolidated into one consignment by the forwarding agent. Each shipper receives a house Bill of Lading from the forwarding agent covering his consignment.

 

Groupage:A consolidation service, putting small shipments into containers for shipment.

 

Groupage:A mixed container packed with different importers goods, is known as a 'Groupage' container.

 

Groupement d'Intrat Economique - Groupement d'interat economique (French: "economic interest grouping") is a joint venture which has features of both a partnership and a corporation. The GIE is used by enterprises that wish to set up a joint activity on a trial basis or to cooperate, but not to merge. The GIE must be an extension of some activity of its members, frequently marketing, research, and management. Airbus Industrie is an example of a GIE.

 

grt - Gross registered tons

 

GSA - General Sales Agent who acts on behalf of an airline. They are generally Broker or Forwarder.

 

GSM - General Sales Manager

 

GSP - Generalized System of Preferences

 

GSP (Generalised System of Preferences):Document relating to trade agreement to give preferential rates of duty to developing countries

 

GST:Goods and Service Tax, GST in relation to importing, is payable on the landed cost of the goods, known as the CIF value. The GST is calculate thus: (Purchase price of goods + Duty + Insurance + Freight) x GST

 

GT - Gross Tonnage - The total of all the enclosed spaces within a ship expressed in tons each of which is equivalent to one hundred cubic feet. This term was previously referred to as GRT.

 

GTDA - General License - Technical Data Publicly Available

 

GTDU - General License - Technical Data Restricted without, Written Assurance

 

G-TEMP - General License - Temporary Export

 

GTZ - Deutsche Gesellschaft fur Technische Zusammenarbeit

 

guar. – Guaranteed

 

Gulf Cooperation Council - The GCC, established in May 1981, seeks to strengthen cooperation (in areas such as agriculture, industry, investment, security, and trade) among its six members: Bahrain, Kuwait, Quatar, Oman, Saudi Arabia, and the United Arab Emirates. The GCC, created in response to the outbreach of the Iran-Iraq war, established the Gulf Standards Organization in November 1982 and the Gulf Investment Corporation in 1984. The presidency of the GCC rotates yearly among members. Council headquarters are in Riyadh, Saudi Arabia.

 

The above details describes about terms called in shipping such as Gross Domestic Product, Gross Terms,Gross Tonnage,Group of Fifteen,Group of Ten ,Group of Seven ,Gross Tonnage,General Sales Manager,Gross registered tons etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in shipping business below this post.Terms used in shipping such as Global Export Manager ,Gold Key Service ,Gooseneck,GRAIN CAPACITY,Grain elevator

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