Terms used in shipping such as Mercosur, merchant , Mercantile marine,Microbridge,Mini-Bridge,Mini Landbridge,Minimum Charge etc.
This post explains about terms used in shipping such as Mercosur, merchant , Mercantile marine,Microbridge,Mini-Bridge,Mini Landbridge,Minimum Charge 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
MEASUREMENT TON:The measurement ton (also known as the cargo ton or freight ton) is a space measurement, usually 40 cubic feet or one cubic meter. Cargo is assessed a certain rate for every 40 cubic feet or one cubic meter it occupies.
Mechanically Ventilated Container:A container fitted with a means of forced air ventilation.
Memoranda of Understanding - See: International Agreements.
Memorandum Bill of Lading:An in-house bill of lading. A duplicate copy.
Memorandum Freight Bill:See Multiple Containerload Shipment.
Memorandum of Understanding (MOU):A legal document describing an agreement between parties.
Mercado Com£n Centroamericano - See: Central American Common Market.
Mercantile marine - It is the shipping, which is employed in commerce and not in war.
Merchandise Trade Balance - See: Balance of Payments.
merchant - Term often used in liner bills of lading to describe the shipper, receiver or consignee, bill of lading holder or the agent of any of these.
merchant marine - All the ships of a country carrying goods.
Mercosur - Mercosur (Spanish; Mercosul in Portuguese; or Southern Common Market) is comprised of Argentina, Brazil, Paraguay, and Uruguay. Mercosur is scheduled to enter into force in December 1994 for Argentina and Brazil and to enter into force in December 1995 for Paraguay and Uruguay. Mercosur, modeled similarly to the European Community's Treaty of Rome, will establish a common external tariff and eliminate barriers to trade in services. While in the Southern Cone, Chile has not sought entry to Mercosur, but does have an agreement with Argentina which will provide for some similar benefits.
MERCOSUR:A trade alliance between Argentina, Brazil, Paraguay and Uruguay, with Chile and Bolivia as associate members.
Meter:39.37 inches (approximately).
metric ton - 1,000 kilograms.
Metric Ton - It is a unit of weight, which is equal to 1,000 kilograms or 2,204.6 pounds.
Metric Ton:Equals about 2,204.62 pounds or 1,000 kilograms.
MFA - Arrangement Regarding International Trade in Textiles (Multifibre Arrangement)
MFA - Multi-Fiber Arrangement
MFN - Most Favored Nation Treatment
MHW - Ministry of Health and Welfare
MHWN - Mean High Water Neaps.
MHWS - Mean High Water Springs.
MHz – Megahertz
MIA - Marine Insurance Act
Microbridge:A cargo movement in which the water carrier provides a through service between an inland point and the port of load/discharge. The carrier is responsible for cargo and costs from origin on to destination. Also known as IPI or Through Service.
Microbridge:A landbridge movement in which cargo originating/destined to an inland point is railed or trucked to/from the water port for a shipment to/from a foreign country. The carrier is responsible for cargo and costs from origin to destination. Also known as I.P.I. or Through Service.
MICROBRIDGE:A system of through rates and service offered by a carrier for cargo shipments from any inland U.S. location to a port, by sea to a foreign port and finally overland to foreign inland destination.
MIF - Multilateral Investment Fund
MIGA - Multilateral Investment Guarantee Agency
Mile:A unit equal to 5,280 feet on land. A nautical mile is 6076.115.
Military Assistance Program - See: Conventional Arms Transfer.
Military Critical Technologies List - The MTCL is a document listing technologies that the U.S. Defense Department considers to have current or future utility in military systems. The MCTL describes arrays of design and manufacturing know-how; keystone manufacturing, inspection, and test equipment; and goods accompanied by sophisticated operation, application, and maintenance know-how. Military justification for each entry is included in a classified version of the list.
Min – Minimum.
Min. B/L - Minimum Bill of Landing
MIN./DEP. - Minimum and deposit premium
Min/Max - Minimum/Maximum - When qualifying the contractual quantity in a voyage charter, this term signifies that the freight is payable on that precise quantity, no more and no less.
Mini Landbridge (MLB):An intermodal system for transporting containers from/to a foreign country by water to/from a U.S. ocean port other than the arrival port by rail at through rates and documents.
Mini Landbridge:An intermodal system for transporting containers by ocean and then by rail or motor to a port previously served as an all-water move (e.g., Hong Kong to New York over Seattle).
Mini-Bridge:Cargo moving from/to an inland destination on one bill of lading from/to a foreign port through two U.S. ports.
MINILAND BRIDGE:The process of taking inland cargo bound for export to the coast by rail and loading it directly to the ship.
MINI-LANDBRIDGE:Imported traffic movement from an origin port to an inland point that is not a port on an ocean bill of lading
Minimum Bill of Lading:A clause in a bill of lading which specifies the least charge that the carrier will make for issuing a lading. The charge may be a definite sum or the current charge per ton for any specified quantity.
Minimum Charge:The lowest charge that can be assessed to transport a shipment.
Ministry of Agriculture and Forestry:MAF or Ministry of Agriculture and Forestry has now changed its name to The newly formed Ministry for Primary Industries. It is charged with leadership of the New Zealand biosecurity system. This encompasses facilitating international trade, protecting the health of New Zealanders and ensuring the welfare of our environment, flora and fauna, marine life and Maori resources.
Ministry of Foreign Economic Relations and Trade - The People's Republic of China (PRC) Ministry of Foreign Economic Relations and Trade, MOFERT, was established in March 1982 by combining former separate ministries. MOFERT implements national trade policies through administrative actions, drafting laws and issuing foreign trade regulations. MOFERT does not engage in foreign trade transactions but facilitates the foreign trading corporations (FTCs) which do.
Ministry of Health and Welfare - Under the Pharmaceutical Affairs Law, MHW is Japan's agency responsible for regulating medical products. The Ministry also is charged with determining Japanese healthcare expenditures.
Ministry of International Trade and Industry - MITI occupies a central position in Japan's "economic bureaucracy" and is regarded as one of the three most powerful and prestigious ministries of the central government (along with the Ministry of Finance and the Ministry of Foreign Affairs). In formulating and implementing Japan's trade and industrial policies, MITI is responsible for funding most of Japan's export promotion programs (although operation of these programs is left to JETRO). The Ministry also supervises the export financing programs of Japan's Export-Import Bank, operates several types of export insurance programs, supports research organizations, and facilitates various types of overseas technical and cooperation training programs. Lately, MITI has assumed a role in encouraging imports of foreign products into Japan.
The above details describes about terms called in shipping such as Mercosur, merchant , Mercantile marine,Microbridge,Mini-Bridge,Mini Landbridge,Minimum Charge 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 Marks & Nos,Marks of Origin,Marlinespike,Master Airwaybill,Maximum Rate,mean low water
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