Terms used in shipping such as Gross Vehicle Weight,High water mark,Hatchway , HARD AGROUND,Hard Currency

 

Terms used in shipping such as Gross Vehicle Weight,High water mark,Hatchway , HARD AGROUND,Hard Currency etc.

 

 

This post explains about terms used in shipping such as Gross Vehicle Weight,High water mark,Hatchway ,HARD AGROUND,Hard Currency,HARMONIZED CODE,Harmonized System, Haulier,Hazardous Goods 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

 

GVW:Abbreviation for "Gross Vehicle Weight." The combined total weight of a vehicle and its container, inclusive of prime mover.

 

GVW:Gross Vehicle Weight. The combined total weight of a vehicle and its container, inclusive of prime mover.

 

Gy.C. - Gyro Compass

 

h – Hour

 

H. & M. - Hull and machinery

 

Terms used in shipping such as Gross Vehicle Weight,High water mark,Hatchway , HARD AGROUND,Hard Currency etch. & o. - Hook and oil damage

 

H.A. or D. - Havre, Antwerp or Dunkirk Harbor

 

H.P.N. - Horse-power nominal

 

H.S.S.C. - Heating, sweating and spontaneous combustion

 

H.T. - Half-time survey

 

H.W.D. - Heavy weather damage

 

H.W.M. - High water mark

 

H.W.O.S.T. - High water ordinary spring tides

 

h/c - Held covered (insurance)

 

H/H - Havre to Hamburg

 

HA - Hatchway - Opening in the deck of a ship though which cargo is loaded into, or discharged from, the hold.

 

ha – Hectares

 

Hague Rules - Rules governing the carriage of goods by sea and identifying the rights and responsibilities of carriers and owners of cargo. These rules were published in 1924 following an international convention and were subsequently given the force of law by many maritime nations.

 

Half Hire - Provision in a time Charter-Party that half of daily hire is payable under certain circumstances. For example, if a ship is lost at sea, It may be agreed That half hire is payable from the date the ship was last heard from until the calculated date of arrival at her destination.

 

Harbor Dues - Charge levied against a shipowner or ship operator by a port authority for the use of a harbor.

 

HARBOR DUES:Various local charges against all seagoing vessels entering a harbor, to cover maintenance of channel depths, buoys, lights, etc. all harbors do not necessarily have this charge.

 

HARBOR MASTER:A person usually having the experience of a certificated master mariner and having a good knowledge of the characteristics of the port and its whole area. He administers the entire shipping movements that take place in and within reach of the port he is responsible for.

 

HARD AGROUND:A vessel which has gone aground and is incapable of refloating under her own power.

 

Hard Currency - The currency of a nation which may be exchanged for that of another nation without restriction. Sometimes referred to as convertible currency. Hard currency countries typically have sizeable exchange reserves and surpluses in their balance of payments. See: Soft Currency.

 

Hard or case goods:hard goods includes such items as upholstered and wooden furniture, televisions, equipment, - case goods includes such items as wood boxed furniture.

 

Harmonised System:The Harmonized Commodity Description and Coding System (or Harmonized System, HS) is a system for classifying goods in international trade, developed under the auspices of the Customs Cooperation Council. Beginning on January 1, 1989, the new HS numbers replaced previously adhered-to schedules in over 50 countries, including the United States.

 

HARMONIZED CODE:n internationally accepted and uniform description system for classifying goods for customs, statistical, and other purposes.

 

Harmonized Commodity Description and Coding System:A multi-purpose international goods-classification for manufacturers. Transporters, exporters, importers, customs officials, statisticians, and others in classifying goods moving in international trade under a single commodity code. Developed under the auspices of the Customs Cooperations Council (CCC), an international customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings describing the articles moving in international trade. It is organized into 99 chapters arranged in 22 sections. Sections encompass an industry [ (e.g., Section XI, Textiles and Textile Articles); chapters encompass the various materials and products of the industry (e.g.: Chapter 50, Silk; Chapter 55, Manmade Staple Fibers; Chapter 57, Carpets).] The basic code contains four-digit headings and six-digit subheadings. (The U.S. will add digits for tariff and statistical purposes. In the U.S., duty rates will be the 8-digit level; statistical suffixes will be at the 10-digit level.

 

Harmonized System - The Harmonized Commodity Description and Coding System (or Harmonized System, HS) is a system for classifying goods in international trade, developed under the auspices of the Customs Cooperation Council. Beginning on January 1, 1989, the new HS numbers replaced previously adhered-to schedules in over 50 countries, including the United States. For the United States, the HS numbers and four additional digits are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers.

 

Harmonized System of Codes (HS):An international goods classification system for describing cargo in international trade under a single commodity-coding scheme. Developed under the auspices of the Customs Cooperations Council (CCC), an international Customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings.It is organized into 99 chapters arranged in 22 sections. Sections encompass an industry (e.g., Section XI, Textiles and Textile Articles); chapters encompass the various materials and products of the industry (e.g., Chapter 50, Silk; Chapter 55, Manmade Staple Fibers; Chapter 57, Carpets).The basic code contains four-digit headings and six-digit subheadings. Many countries add digits for Customs tariff and statistical purposes. In the United States, duty rates will be the eight-digit level; statistical suffixes will be at the ten-digit level. The Harmonized System (HS) is the current U.S. tariff schedule (TSUSA) for imports and is the basis for the ten-digit Schedule B export code.

 

HARTER ACT:(1893) This U.S. statute refers to merchandise or property transported from or between ports of the United States and foreign ports. Now partially superseded by the US Carriage of Goods by Sea Act of 1936.

 

Hatch - It is an opening in a deck that gives access to the internal compartments.

 

HATCH:The cover of, or opening in, the deck of a vessel through which cargo is loaded.

 

Haulage:Inland Delivery

 

Haulier:Person or Company making the Inland Delivery of Freight or Containerised Freight

 

Haulier:The participating carrier responsible for drayage of containers.

 

HAWB:House Air waybill issued by carrying airlines' agent, normally freight forwarder .

 

HAZ MAT:An abbreviation for "Hazardous Material."

 

Hazardous Goods:Certain cargoes, as prescribed by the UN, such as explosive, radioactive, poisonous and flammable goods etc, which must be declared to the carrier before being loaded onto ships or aircraft. The penalties for mis-declaring or failing to declare hazardous or dangerous cargo are extremely high.

 

The above details describes about terms called in shipping such as Gross Vehicle Weight,High water mark,Hatchway ,HARD AGROUND,Hard Currency,HARMONIZED CODE,Harmonized System, Haulier,Hazardous Goods 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 Gross Tonnage,Group of Fifteen,Group of Ten ,Group of Seven ,Gross Tonnage,General Sales Manager

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