Terms used in shipping such as DRILLING UNIT,Dry Cargo,Dry-Bulk Container,Dumping,Dumping etc.
This post explains about terms used in shipping such as Drawback, DRAFT, DRAYAGE, DRILLING UNIT,Dry Cargo,Dry-Bulk Container,Dumping,Dumping Margin,Dunnage,Dumping 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
Draft, Date:A draft that matures on a fixed date, regardless of the time of acceptance.
Draft, Discounted:A time draft under a letter of credit that has been accepted and purchased by a bank at a discount.
Draft, Sight:A draft payable on demand upon presentation.
Draft, Time:A draft that matures at a fixed or determinable time after presentation or acceptance.
DRAFT: An unconditional order in writing from one person (the Drawer) to another (the Drawee), directing the drawee to pay a specified amount to a named drawer on a fixed date. Also known as a Bill of Exchange. (2)The depth of a ship in the water. The vertical distance between the waterline and the keel, in the U.S. expressed in feet, elsewhere in meters.
D-RAM - Dynamic Random Access Memory
draught - Designates the depth of water available at a port or place.
Drawback - Drawback is a rebate by a government, in whole or in part, of customs duties assessed on imported merchandise that is subsequently exported. Drawback regulations and procedures vary among countries.
Drawback System - The Drawback System, a part of Customs' Automated Commercial System, provides the means for processing and tracking of drawback claims.
Drawee - The individual or firm on whom a draft is drawn and who owes the indicated amount.
Dray:A truck or other equipment designed to haul heavy loads.
drayage: Transport by truck for short distances; e.g. from wharf to warehouse..
DRAYAGE:Synonym: Connecting Road Haulage(1) The hauling of a load by a cart with detachable sides. (dray) (2) Road transportation between the nearest railway terminal and the stuffing place (3) (pick-up and/or delivery) the truck portion of an intermodal move
dreading - Option general cargo
dredge: (noun) A waterborne machine that removes unwanted silt accumulations from the bottom of a waterway. (verb) The process of removing sediment from harbor or river bottoms for safety purposes and to allow for deeper vessels.
DREE - Direction des Relations Economiques Exterieures
DRFS:Abbreviation for "Destination Rail Freight Station." Same as CFS at destination, except a DRFS is operated by the rail carrier participating in the shipment.
DRILL SHIP:Regular ship shaped vessel, production ship. Positioned by anchors or dynamic positioning. Has its own propulsion machinery.
DRILLING UNIT:Fitted with drilling rig (oil derrick with rotary drill and a mud pumping system), drilling for petroleum.
Driver no touch:means the same as shipper load (see SLC) and consignee unload.
dry bulk: Minerals or grains stored in loose piles moving without mark or count.Examples are potash, industrial sands, wheat, soybeans and peanuts.
Dry Cargo:Cargo that is not liquid and normally does not require temperature control.
DRY DOCK:An enclosed basin into which a ship is taken for underwater cleaning and repairing. It is fitted with water tight entrance gates which when closed permit the dock to be pumped dry.
Dry Weight - Actual weight of a bulk cargo less an allowance for moisture content.
Dry-Bulk Container:A container constructed to carry grain, powder and other free-flowing solids in bulk.
Dry-Bulk Container:A container constructed to carry grain, powder and other free-flowing solids in bulk. Used in conjunction with a tilt chassis or platform.
DST (DOUBLE STACK TRAIN):The transport by rail between two points of a trainload of containers with two containers per chassis, one on top of the other.
DSU:Delay in Startup Insurance is a policy to protect the seller of a construction project from penalties if the project is not completed on time. See "Liquidated Damages."
DT:delivery ticket.
DTAG - Defense Trade Advisory Group
DTI - Department of Trade and Industry
DTR - Defense Trade Regulations
DTSA - Defense Technology Security Administration
DTWG - Defense Trade Working Group
Dual Pricing - The selling of identical products in different markets for different prices. This often reflects dumping practices.
DUAL PURPOSE SHIP:Specially constructed ship able to carry different types of cargoes such as ore and/or oil.
Dumping - Dumping is generally seen as an unfair trading practice. It occurs when a good is sold for less than its "fair value", generally meaning it is exported for less than it is sold in the domestic market or third country markets, or it is sold for less than production cost. Article VI of the GATT permits the imposition of special anti-dumping duties against dumped goods, equal to the difference between their export price and their ''fair value'' in the export market, if dumping causes injury in the importing country.
Dumping - The sale of a commodity in a foreign market at less than fair value. Dumping is generally recognized as unfair because the practice can disrupt markets and injure producers of competitive products in an importing country. Article VI of the GATT permits imposition of antidumping duties equal to the difference between the price sought in the importing country and the normal value of the product in the exporting country. With price-to-price dumping, the foreign producer can use its sales in the high-priced market (usually the home market) to subsidize its sales in the low-priced export market. The price difference is often due to protection in the high-priced market. Price-cost dumping indicates that the foreign supplier has a special advantage. Sustained sales below cost are normally possible only if the sales are somehow subsidized.
Dumping Margin - The amount by which the imported merchandise is sold in the United States below the home market or third country price or the constructed value (that is, at less than its "fair value"). For example, if the U.S. "purchase price" is $200 and the fair value is $220, the dumping margin is $20. This margin is expressed as a percentage of the United States price. In this example, the margin is 10 percent. See: Tariff Act of 1930.
Dumping:Attempting to import merchandise into a country at a price less than the fair market value, usually through subsidy by exporting country.
Dumping:The practice of selling goods in a foreign market at a price lower than which they would be sold at in the home market, to gain a competitive advantage over other suppliers. If this is shown to be injurious to locally-based suppliers in the foreign market, the government of that country may impose remedies by way of anti-dumping duties.
dunnage: Wood or other material used in stowing ship cargo to prevent its movement.
Dunnage:Loose wood or other material used in a vessel’s hold or in a container to secure and support cargo during the voyage to prevent damage, movement or shifting of cargo.
Dunnage:Lumber or other material used to brace materials in carrier's equipment or containers.
Duplicate Copy : In case of loss or misplacement, request for the duplicate copy of the IEC number has to be made to the issuing authority accompanied with an affidavit.
The above details describes about terms called in shipping such as Drawback, DRAFT, DRAYAGE, DRILLING UNIT,Dry Cargo,Dry-Bulk Container,Dumping,Dumping Margin,Dunnage,Dumping 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 Document Collections, Domestic Exports,Door to Door,Domicile,Draft,DOUBLE-STACK
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