Terms used in shipping such as Safe Port,Special and Differential Treatment,Special Drawing Rights

 

 

 

Terms used in shipping such as Safe Port,Special and Differential Treatment,Special Drawing Rights etc.

 

 

This post explains about terms used in shipping such as Safe Port,Special and Differential Treatment,Special Drawing Rights,Specially Designated Nationals,Spine Car,Spreader,SSHINC,Stack Car,Stacktrain 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

 

 

South Group - See: Danish International Development Assistance.

 

 

South Pacific Bureau for Economic Cooperation - See: South Pacific Forum

 

South Pacific Forum - The SPF is a regional arrangement for convening 15 governments and territories for deliberations on issues of mutual interest. The Forum was established in 1971; headquarters are in Suva, Fiji; members include: Australia, the Cook Islands, Fiji, Kirbati, Marshall Islands, Micronesia, Nauru, New Zealand, Niue, Papua New Guinea, Samoa, Solomon Island, Tonga, Tuvalu, and Vanatu. The South Pacific Bureau for Economic Cooperation (SPEC) is a subsidiary organization which promotes regional cooperation in the development of the island members in partnership with the more industrially developed countries of the region: Australia and New Zealand.

 

Southern Africa Development Community - SADC, established in April 1980 (as the Southern Africa Development Coordination Conference), is a regional economic pact comprising Angola, Botswana, Lesotho, Malawi, Mozambique, Namibia, Swaziland, Tanzania, Zambia, and Zimbabwe. Since a change in name and focus in mid-1992, the Community focuses solely on development, leaving trade matters to the Preferential Trade Agreement for Eastern and Southren Africa (PTA). Community headquarters are in Gaborone, Botswana.

 

Terms used in shipping such as Safe Port,Special and Differential Treatment,Special Drawing Rights etcSouthern African Customs Union - SACU, established in 1910, includes Botswana, Lesotho, Namibia, South Africa, and Swaziland. SACU provides for the free exchange of goods within th to whether a country presents excessive barriers to trade with the United States by virtue of its inadequate protection of intellectual property. If the USTR makes a positive determination, a country may be named to the list of: (a) Priority Foreign Countries (the most egregious), (b) the Priority Watch List, or (c) the Watch List. Special 301 (a variation of Section 301) was created by the Omnibus Trade and Competitiveness Act of 1988. See: Section 301 Super 301.

 

SP – Safe Port - Term in a Charter-Party which places the responsibility on to the cargo interests to order the chartered ship to a pod which is physically and politically safe for her to reach, remain and leave, taking into consideration the cargo to be loaded or discharged.

 

SPA:Abbreviation for "Subject to Particular Average." See also Particular Average.

 

Special American Business Internship Training Program - SABIT, originally the Soviet-American Business Internship Training Program, is a cooperative program that brings business executives and scientists from the former Soviet Union for three-to six-month internships with American companies. The program teaches these managers adn scientists how to operate in a market economy at the same time that American businesses development market contacts once their interns return home. Soviet business managers are referred by the Commerce Department's International Trade Administration to sponsoring U.S. companies, which make the final selection of their interns. The program matches U.S. corporate sponsors with Soviet business executives from the same industries. The Independent States provide transportation; the companies provide living expenses and training in management techniques (production, distribution, marketing, accounting, wholesaling, and publishing).

 

Special and Differential Treatment - The principle, enunciated in the Tokyo Declaration, that the Tokyo Round negotiations should seek to accord particular benefits to the exports of developing countries, consistent with their trade, financial, and development needs. Among proposals for special or differential treatment are reduction or elimination of tariffs applied to exports of developing countries under the Generalized System of Preferences (GSP), expansion of product and country coverage of the GSP, accelerated implementation of tariff cuts agreed to in the Tokyo Round for developing country exports, substantial reduction or elimination of tariff escalation, special provisions for developing country exports in any new codes of conduct covering nontariff measures, assurance that any new multilateral safeguard system will contain special provisions for developing country exports, and the principle that developed countries will expect less than full reciprocity for trade concessions they grant developing countries.

 

Special Drawing Rights - SDRs are international reserve assets, created by the International Monetary Fund (IMF) in 1970 and allocated to individual member nations. Within conditions set by the IMF, SDRs can be used by a nation with a deficit in its balance of international payments to settle debts with another nation or with the IMF. The value of SDRs is computed as a weighted average of five currencies: deutsche mark, French franc, Japanese yen, pound sterling, and U.S. dollar.

 

Specially Designated Nationals - The Office of Foreign Assets Control (OFAC), Department of the Treasury, implements and enforces financial and trade sanctions. FAC has the authority to include within the definition of the sanctioned government those individuals and entities that FAC has determined are owned by, controlled by, or acting directly or indirectly on behalf of the target government. Parties so identified are known as Specially Designated Nationals or SDNs. In practice, an SDN is a target government body, representative, intermediary, or front (whether overt or covert) that usually is located in a third country and functions as an extension of the sanctioned government. An SDN may also be a third-party company that otherwise becomes owned or controlled by the target government or that operates on its behalf. No criminal linkage is necessary. Ownership by, control by, acting on behalf of, or profiting from trade with the target government or country would suffice to qualify a person for designation.

 

SPF - South Pacific Forum

 

Spine Car:An articulated five-platform railcar. Used where height and weight restrictions limit the use of stack cars. It holds five 40-foot containers or combinations of 40- and 20-foot containers.

 

SPLC (STANDARD POINT LOCATION CODE):An industry wide standard used to identify a location served by a common carrier

 

SPOT (VOYAGE):A charter for a particular vessel to move a single cargo between specified loading port(s) and discharge port(s) in the immediate future. Contract rate (“spot” rate) covers total operating expenses, i.e., bunkers, port charges, canal tolls, crew’s wages and food, insurance and repairs. Cargo owner absorbs, in addition, any expenses specifically levied against the cargo.

 

Spot Transaction - See: Forward Exchange Rate.

 

Spotting;Placing a container where required to be loaded or unloaded.

 

Spreader: a device for lifting containers by their corner posts. The spreader bar on a container crane is telescopic to allow lifting various length containers.

 

Spreader:A piece of equipment designed to lift containers by their corner castings.

 

 

SRL - Societe a Responsabilite Limitata

 

SSA - Sub-Saharan Africa

 

SSHEX - Saturdays, Sundays and Holidays Excepted - Charter-Party term which provides that Saturdays. Sundays and public holidays do not count in the calculation of laytime. See also even if used, and unless used.

 

SSHINC - Saturdays, Sundays and Holidays Included - Charter-Party term which provides that Sundays and public holidays count in the calculation of laytime. whether or not used for loading or discharging, as the case may be.

 

Stability:The force that holds a vessel upright or returns it to upright if keeled over. Weights on the lower hold increase stability. A vessel is stiff if it has high stability, tender if it has low stability.

 

Stack Car:An articulated five-platform rail car that allows containers to be double stacked. A typical stack car holds ten 40-foot equivalent units (FEU's).

 

Stack Car:An articulated five-platform railcar that allows containers to be double-stacked. A stack car holds ten 40-foot equivalent units.

 

Stacktrain:A rail service whereby rail cars carry containers stacked two high on specially operated unit trains. Each train includes up to 35 articulated multi-platform cars. Each car is comprised of 5 well-type platforms upon which containers can be stacked. No chassis accompany containers.

 

Standard Industrial Classification - The SIC is the classification standard underlying all establishment-based U.S. economic statistics classified by industry.

 

Standard International Trade Classification - The SITC was developed by the United Nations in 1950 and is used solely by international organizations for reporting international trade. The SITC has been revised several times; the current version is Revision 3.

 

The above details describes about terms called in shipping such as Safe Port,Special and Differential Treatment,Special Drawing Rights,Specially Designated Nationals,Spine Car,Spreader,SSHINC,Stack Car,Stacktrain 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 Sling, Slip,Sociedad Anonima,Societe Anonyme,Soft Loan

Related posts about free online training on overseas trade:

 

 

How to export your product?
Click here to know HS code of your product
What is the ITC code (Indian Tariff Code) of your product?
12 Major risks and solutions in Imports and Exports
Disadvantages of Letter of credit (LC) for Exporter
Foreign Trade Agreements of India
Mode of payments in international trade
Packing credit loan to Indian Exporters
Tea Board
SRTEPC,Synthetic and Rayon Textiles Export Promotion Council
SQEPC,Sports Goods Export Promotion Council
Triangular export
Triangular shipment
Types of Insurance Documents
What is Express Release Bill of Lading
What is FIRC in export import business
What is first check assessment procedures in import customs clearance


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers