Terms used in shipping such as Stripping,Sub-Freight,Sub-Charterer , Subrogate, Subsidy,Substitution

 

Terms used in shipping such as Stripping,Sub-Freight,Sub-Charterer , Subrogate, Subsidy,Substitution etc.

 

 

 

This post explains about terms used in shipping such as stow,Stowage,Strike Clause,Stripping,Sub-Freight,Sub-Charterer ,Subrogate,Subsidy,Substitution 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

 

Store-Door Pick-up Delivery:A complete package of pick up or delivery services performed by a carrier from origin to final consumption point.

 

stow - Position in a ship where goods are placed for their

 

Stowage - It is the lacing of cargo in a vessel in a manner to provide the utmost safety and efficiency for the ship and the goods it carries.

 

STOWAGE FACTOR:Cubic space ratio (measured in cubic feet per long ton, cubic meter per metric ton or cubic per metric ton)

 

Terms used in shipping such as Stripping,Sub-Freight,Sub-Charterer , Subrogate, Subsidy,SubstitutionSTOWAGE:(a) The loading of cargo in a vessel in such a manner as to provide the utmost safety and efficiency for the ship and the goods it carries. (b) The placing of goods in a ship in such a way as to ensure the safety and stability of the ship not only on a sea or ocean passage but also in between ports when parts of the cargo have been loaded or discharged.

 

Stowage:A marine term referring to loading freight into ships' holds.

 

Str. – Steamer

 

straddle carrier: Container terminal equipment, which is motorized and runs on rubber tires. It can straddle a single row of containers and is primarily used to move containers around the terminal, but also to transport containers to and from the transtainer and load/unload containers from truck chassis.

 

Straddle Carrier:Mobile truck equipment with the capacity for lifting a container within its own framework, and transporting containers around yards. Containers stacked in rows one across.Pros: Versatility, mobility, cost, labor.Cons: Maintenance, damage.

 

 

Straddle Carrier:Mobile truck equipment with the capacity for lifting a container within its own framework.

 

Straight B/L:A non-negotiable B/L in which the goods are consigned directly to a named consignee.

 

Straight Bill of Lading:A non-negotiable bill of lading which states a specific identity to whom the goods should be delivered. See Bill of Lading.

 

Strategic Level of Controls - Commodity groupings used for export control purposes. See: Export Control Classification Number.

 

Strd. – Standard

 

Strike Clause - Clause in a Bill of Lading or Charter-Party that sets out the options available to the parties to the contract of carriage in the event that a strike prevents or interrupts the loading or discharging of the cargo. The wording of the clause and the options vary according to the individual contract. In the case of a charter, the clause may contain a provision for the effect of a strike on laytime.

 

stripping: The process of removing cargo from a container.

 

Stripping:Removing cargo from a container (devanning).

 

Structural Adjustment Facility - See: Enhanced Structural Adjustment Facility.

 

Structural Impediments Initiative - The SII was started in July 1989 to identify and solve structural problems that restrict bringing two-way trade between the U.S. and Japan into better balance. Both the U.S. and Japanese governments chose issues of concern in the other's economy as impediments to trade and current account imbalances. The areas which the U.S. Government chose as focus included: (a) Japanese savings and investment patterns, (b) land use, (c) distribution, (d) keiretsu, (e) exclusionary business practices, and (f) pricing. Areas which the Japanese Government chose as focus included: (a) U.S. savings and investment patterns, (b) corporate investment patterns and supply capacity, (c) corporate behavior, (d) government regulation, (e) research and development, (f) export promotion, and (g) workforce education and training. In a June 1990 report, the U.S. and Japan agreed to 7 meetings in the following three years to review progress, discuss problems, and produce annual joint reports.

 

stuffing: The process of packing a container with loose cargo prior to inland or ocean shipment.

 

Stuffing:Putting cargo into a container.

 

STW:Said to weigh.

 

Sub. Details - Subject Details - Term qualifying an offer or counter-offer for the charter of a ship which demotes that only minor details remain to be agreed. It is widely accepted that the conclusion of a contract is conditional on these details being agreed although an American court has ruled that the acceptance of such offer or counter-offer is sufficient to create a contract, leaving the details to be agreed subsequently.

 

Sub. Open - Subject Open - see subject free.

 

Sub. Unfixed - Subject Unfixed - See subject free.

 Sub-Charterer - Person or company who charters a ship for a party, who is not the owner but who, in turn, has chartered the ship.

 

Sub-Freight - Freight payable by the sub-charterer, normally to the charterer.

 

Sub-Group on Nuclear Export Coordination - The SNEC is an interagency review panel which monitors and facilitates the interagency processing of specific matters related to activities which, in the determination of any of the members, pose potential policy concerns. The SNEC is comprised of State (as chair), Energy (as secretariat), Commerce, Defense, the Arms Control and Disarmament Agency, and the Nuclear Regulatory Commission. The SNEC also includes the Central Intelligence Agency as an observer. Representatives from other agencies may be invited as participants or observers.

 

Subject Stem - Subject to the availability of the cargo on the dates on which a ship is offering to load.

 

Sub-Let - The charter of a ship to one party by another party who is not the owner but who, in turn. has the charter of the ship. Also referred to as a sub-charter.

 

Subrogate:To put in place of another; i.e., when an insurance company pays a claim it is placed in the same position as the payee with regard to any rights against others.

 

Subsidies - GATT does not directly define subsidies. The U.S. regards a subsidy as a bounty or grant paid for the manufacture, production, or export of an article. Export subsidies are contingent on exports; domestic subsidies are conferred on production without reference to exports. While governments sometimes make outright payments to firms; subsidies usually take a less direct form (R&D support, tax breaks, loans on preferential terms, and provision of raw materials at below-market prices).

 

Subsidy - There are two general types of subsidies: export and domestic. An export subsidy is a benefit conferred on a firm by the government that is contingent or exports. A domestic subsidy is a benefit not linked to exports, conferred by the government upon a specific industry or enterprise or group of industries or enterprises.

 

SUBSIDY:An economic benefit granted by a government to producers of goods or services, often to strengthen their competitive position. Sue & Labor Cause. A provision in marine insurance obligating the assured to do things necessary after a loss to prevent further loss and to act in the best interests of the insurer.

 

Substantial Suppliers - If a country supplies approximately 10 percent of the trade in a given item imported to a second country, the first country is said to have a substantial supplier status.

 

Substitution - The replacement of a ship with another ship. A shipowner often has an option in a voyage to employ a ship other than the one named in the Charter-Party since he may not know which of his ships will be capable of performing the voyage at the time the contract is concluded, particularly if this is done well in advance of loading.

 

Sue & Labor Clause - It is a provision in marine insurance, which obligates the assured to do things necessary after a loss in order to prevent any further loss and to act in the best interests of the insurer.

Sufferance Wharf:A wharf licensed and attended by Customs authorities.

 

Summary Investigation - A 20-day investigation conducted by the International Trade Administration immediately following filing of an antidumping petition to ascertain if the petition contains sufficient information with respect to sales at "less than fair value" and the injury or threat of material injury to a domestic industry caused by the alleged sales at "less than fair value" to warrant the initiation of an antidumping investigation. See: Tariff Act of 1930.

 

The above details describes about terms called in shipping such as stow,Stowage,Strike Clause,Stripping,Sub-Freight,Sub-Charterer,Subrogate,Subsidy,Substitution 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 Tied Loan,Tier number,Time,Time Charter-Party,Time Draft,Time reversible etc

Related posts about free online training on overseas trade:

 

 

How to import your product?
Click here to know HS code of your product
What is the ITC code (Indian Tariff Code) of your product?
Dispute settlement in international business
Export Promotion Councils and Commodity Boards, product wise
Foreign Trade Agreements of India
MEIS scheme for Indian Exporters
HEPC,Handloom Export Promotion Council
PEPC,Project Exports Promotion Council of India
Powerloom Development and Export Promotion Council
Is DP terms of payment safe in export business?
Is Letter of Credit LC safe for an Importer?
Is ON BOARD CERTIFICATE required for LC negotiation






Discussion Forum

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