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Over 3600 Ocean Marine, Shipping, Chat & Insurance Terms and Abbreviations
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TERM COLORS: Black = Transport - -  Blue = Insurance - - Green = Chat/Email

Chat - A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z

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- P -

TERM DEFINITION
P&D Pickup & Delivery
P&I Abbreviation for "Protection and Indemnity," a mutual insurer.
Package - Any physical piece of cargo in relation to transport consisting of the contents and its packing for the purpose of ease of handling by manual or mechanical means.
- The final product of the packing operation consisting of the packing and its contents to facilitate manual or mechanical handling.
Package Policy (Ins) An insurance policy including two or more lines or types of coverages in the same contract.
Packaging Materials used for the containment, protection, handling, delivery and presentation of goods and the activities of placing and securing goods in those materials.
Packing Any container or other covering in which goods are packed.
Packing Instruction Document issued within an enterprise giving instructions on how goods are to be packed.
Packing List Itemized list of commodities with marks/numbers but no cost values indicated.
Packing Unit A type of package where a standard quantity of products of a specific product type can be packed and that requires no additional packaging for storage and shipment.
PADAG Abbreviation for "Please Authorize Delivery Against Guarantee." A request from the consignee to the shipper to allow the carrier or agent to release cargo against a guarantee, either bank or personal. Made when the consignee is unable to produce original bills of lading.
Paired Ports A U.S. Customs program wherein at least two designated Customs ports will enter cargo that arrives at either port without the necessity of an in-bound document.
Pallet A platform with or without sides, on which a number of packages or pieces may be loaded to facilitate handling by a lift truck.
Pallet Converter Superstructure which can be applied to a pallet to convert it into either a box or post pallet.
Pallet Rack A skeleton framework, of fixed or adjustable design, to support a number of individual pallet loads.
Pallet Truck Pedestrian- or rider-controlled non-stacking lift truck fitted with forks.
Pallet Wrapping Machine A machine that wraps a pallet's contents in stretch-wrap to ensure safe shipment.
Panamax A vessel designed to be just small enough to transit the Panama Canal
PANS Pretty Awesome New Stuff (opposite of POTS)
Paper Ramp A technical rail ramp, used for equalization of points not actually served.
Paper Rate A published rate that is never assessed because no freight moves under it.
Parcel See "Package"
Parcel Receipt An arrangement whereby a steamship company, under rules and regulations established in the freight tariff of a given trade, accepts small packages at rates below the minimum bill of lading, and issues a parcel receipt instead of a bill of lading.
Partial Containerships Multipurpose containerships where one or more but not all compartments are fitted with permanent container cells. Remaining compartments are used for other types of cargo.
Partial Loss (Ins) A loss under an insurance policy which does not either (1) completely destroy or render worthless the insured property; or (2) exhaust the insurance applying thereto.
Partial Shipments Under letters of credit, one or more shipments are allowed by the phrase "partial shipments permitted."
Participating Carrier - A carrier participating in a tariff and who therefore applies the rates, charges, routing and regulations of the tariff (aircargo).
- A carrier over whose air routes one or more sections of carriage under the Air Waybill is undertaken or performed (aircargo).
Particular Average (Ins) See Insurance, Particular Average. - A fortuitous partial loss to the subject matter insured, proximately caused by an insured peril but which is not a general average loss. Particular average only relates to damage and/or expenses which are exclusively borne by the owners of a vessel which has sustained damage as a result of e.g. heavy weather or by the owners of the cargo, which has been damaged in transit.
Partition See "Divider"
Passenger-Mile A measure of output for passenger transportation that reflects the number of passengers transported and the distance traveled; a multiplication of passengers hauled and distance traveled. (also Revenue Passenger Mile or RPM)
Payee A party named in an instrument as the beneficiary of the funds. Under letters of credit, the payee is either the drawer of the draft or a bank.
Payer A party responsible for the payment as evidenced by the given instrument. Under letters of credit, the payer is the party on whom the draft is drawn, usually the drawee bank.
Payload The revenue-producing load carried by a means of transport.
Payment The transfer of money, or other agreed upon medium, for provision of goods or services.
Payment Against Documents Instructions given by a seller to a bank to the effect that the buyer may collect the documents necessary to obtain delivery of the goods only upon actual payment of the invoice.
Payment Collection Obtaining money, or other agreed upon medium, for provision of goods or services.
PC Period of Charter
PCGO Part Cargo
PCMCIA People Can't Master Computer Industry Acronyms
PCT Per cent
PDA Public Display of Affection
PDPR Per Day Pro Rata
Peak Demand time period during which customers demand the greatest quantity.
Peak Season /Peak Shipping Season Usually associated with the pre-holiday shipping season - the months of July through November as merchants move goods for the Holiday Shopping Season
PEBCAK Problem Exists Between the Computer and the Keyboard
Per Container Rate Rates and/or changes on shipments transported in containers or trailers and rated on the basis of the category of the container or trailer
Percussive Maintenance The art of banging on something that is broken to try to get it to work.
Per Diem A charge, based on a fixed daily rate.
Performance Bond Bond issued at the request of one party to a contract in favor of the other party to the contract to protect the other party against loss in the event of default on the contract by the requesting party. The bonding agent may undertake to fulfill the contract or may simply undertake to pay a specific amount in monetary damages. A standby letter of credit or demand guarantee is often used as a performance bond with the latter characteristics.
Performance Indicator A variable indicating the effectiveness and/or efficiency of a process.
Performance Measurement The comparison of the results of business processes with each other or with standards in order to know the effectiveness of these processes and/or the supportive actions.
Peril (Ins) A term used in the Marine Insurance Act (1906) to denote a hazard. The principle of proximate cause is applied to an insured peril to determine whether or not a loss is recoverable. In modern practice the term "risk" often replaces "peril".
Perils of the Sea Those causes of loss for which the carrier is not legally liable. The elemental risks of ocean transport.
Permit A grant of authority to operate as a contract carrier.
Per Se By Itself
Personal Discrimination Charging different rates to shippers with similar transportation characteristics, or, charging similar rates to shippers with differing transportation characteristics.
P/H Pier to House (same as CFS/CY)
PHPD Per Hatch Per Day
Physical Distribution Those activities related to the flow of goods from the end of conversion to the customer.
Physical Distribution Management The planning execution and control of those activities which are related to the flow of goods from the end of conversion to the customer.
Phytosanitary Inspection Certificate A certificate issued by the U.S. Department of Agriculture to satisfy import regulations of foreign countries; indicates that a U.S. shipment has been inspected and found free from harmful pests and plant diseases.
PIBCAK Problem Is Between Keyboard And Chair
Pick & Pack Picking and packing immediately into shipment containers.
Picking Taking products or components out of a stock
Picking List A list used to collect items from stores needed to fulfil an order
Pick Order An order to pick certain quantities of goods out of a stock.
Pickup The act of calling for freight by truck at the consignor's shipping platform.
Pickup Order A document indicating the authority to pick up cargo or equipment from a specific location.
Pick Up & Delivery A service concerning the collection of cargo from the premises of the consignor and the delivery to the premises of the consignee.
Pickup Service The carriage of outbound consignments from the point of pick up to the airport of departure (aircargo).
Pier Quay - The structure perpendicular to the shoreline to which a vessel is secured for the purpose of loading and unloading cargo.
Pier-to-House A shipment loaded into a container at the pier or terminal, thence to the consignee's facility.
Pier Release See "Delivery Order" - Issued by the consignee or his customs broker to the ocean carrier as authority to release the cargo to the inland carrier. Includes all data necessary for the pier delivery clerk to determine that the cargo can be released to the domestic carrier.
Pier-to-Pier Containers loaded at port of loading and discharged at port of destination.
Piggy Packer A mobile container-handling crane used to load/unload containers to/from railcars.
Piggyback A transportation arrangement in which truck trailers with their loads are moved by train to a destination. Also known as Rail Pigs.
Pilferage Theft not limited to the taking of a whole package or all of the property insured.
Pilot A person who is qualified to assist the master of a ship to navigate when entering or leaving a port.
Pin Lock A hard piece of iron, formed to fit on a trailer's pin, that locks in place with a key to prevent an unauthorized person from moving the trailer.
Pipeline Inventory The amount of goods in a pipeline: the sum of loading stock, goods in transit and receiving stock.
Piracy Robbery on the high seas.
PITA Pain In The A**
Pivot Weight Minimum chargeable weight of a Unit Load Device (aircargo).
Place of Delivery Place where cargo leaves the care and custody of carrier.
Place of Receipt Location where cargo enters the care and custody of carrier.
Planning The setting of goals over a certain time and the determination of how to achieve these goals and with what resource.
Platform - The bare floor of a container, suitable for the carriage of uncontainerable cargo, as several platforms can be placed together to provide a larger base. Plated for the carriage of heavy goods. 20' and 40'.
- The area on an airport where aircrafts are parked for embarkation and/or loading and discharging purposes (aircargo).
- See also "Apron" or "Ramp"
Platform Body A truck or trailer without ends, sides or top but with only a floor.
Plimsoll Mark A series of horizontal lines, corresponding to the seasons of the year and fresh or saltwater, painted on the outside of a ship marking the level which must remain above the surface of the water for the vessel's stability.
PM Private Message
PMA Pacific Maritime Association
PO See "Purchase Order"
POA Port of Arrival - Location where imported merchandise is off-loaded from the importing aircraft or vessel.
POAHF Put On A Happy Face
POD Abbreviation for:
- Port of Discharge.
- Port of Destination.
- Proof of Delivery. A document required from the carrier or driver for proper payment.
Point of Origin The place at which a shipment is received by a carrier from the shipper.
POL Abbreviation for:
- Port of Loading.
- Petroleum, Oil, and Lubricants.
Policy (Ins) The written statement of a contract effecting insurance, or certificates thereof, by whatever name called and including all causes, riders, endorsements and papers attached thereto and made part thereof.
Policy Period (Ins) The period during which the policy contract affords protection.
Political Risk In export financing, the risk of loss due to currency inconvertibility, foreign government action preventing the delivery of goods, revolution, war, expropriation, confiscation, etc.
Pooling The sharing of cargo or the profit or loss from freight by member lines of a liner conference. Pooling arrangements do not exist in all conferences.
Pomerene Act, Also known as (U.S.) Federal Bill of Lading Act of 1916. U.S. federal law enacting conditions by which a B/L may be issued. Penalties for issuing B/L's containing false data include monetary fines and/or imprisonment.
Pontoon A vessel with flat deck and a shallow draft.
POOF or *pOOf* Goodbye
Pool The shared use of e.g. equipment by a number of companies, which make together the investments in the equipment mentioned.
Poop Aft part of a vessel where the steering engine is located.
Port - Harbor with piers or docks.
- Left side of a ship when facing forward.
- Opening in a ship's side for handling freight.
Portal Crane A type of gantry crane with vertical legs of sufficient height and width to permit vehicles or railroad equipment to pass between the legs.
Port of Arrival Location where imported merchandise is off-loaded from the importing aircraft or vessel.
Port of Call Port where a ship discharges or receives traffic.
Port State Control The inspection of foreign ships in national ports for the purpose of verifying that the condition of a ship and its equipment comply with the requirements of international conventions and that the vessel is manned and operated in compliance with applicable international law.
Port of Discharge Port where cargo is discharged/unloaded from seagoing vessel.
POR Port of Origin
Port of Entry Port where cargo is unloaded and enters a country.
Port of Exit Place where cargo is loaded and leaves a country.
Port of Loading Port where cargo is loaded on board seagoing vessel.
Port to Port Bill of Lading Bill of lading covering shipment by ocean only. The shipper/seller is responsible for transporting the goods to the port of loading and the buyer for picking the goods up at the port of discharge. Multimodal, rather than port-to-port, bills of lading should generally be used for containerized shipments and other shipments where the place of receipt and/or the place of delivery is inland.
Positioning The transport of empty equipment from a depot to shipper's premises or from consignee's premises back to a depot as the empty leg of a carrier haulage transport
Postal Code - A national code maintained by the Postal Authorities designed to indicate areas and accumulated addresses to facilitate sorting and the delivery of mail and other goods.
- Note: The coding system is different in the various countries throughout the world. In the Netherlands the code consists of 4 figures and 2 characters
POTS Plain Old Telephone Service *or "Same Old Stuff - cliche - tired)
P/P Pier to Pier (same as CFS/CFS)
Practice That what has become customary as a result of repeated acts.
Pratique Certificate Lifts temporary quarantine of a vessel; granted pratique by Health Officer.
Precarriage Carriage of goods by any mode of transit from place of receipt to port of loading.
Precarrier The carrier by which the goods are moved prior to the main transport.
Pre-cooling A process employed in the shipment of citrus fruits and other perishable commodities. The fruit is packed and placed in a cold room from which the heat is gradually extracted. The boxes of fruit are packed in containers that have been thoroughly cooled and transported through to destination without opening the doors.
Pre-Export Financing Specific form of working capital lending in which the borrower is given funds needed to obtain or manufacture goods that have been ordered by a buyer in another country. As such financing is normally earmarked to individual sales, documentation of each sale must be provided to the lender, often in the form of a letter of credit with proceeds assigned to the lender. Generally only a percentage of the sale value is lent.
Premises (Ins) The particular location of a property or a portion thereof as designated in a policy.
Premium (Ins) The payment for an insurance policy, usually paid periodically (annually, semi-annually, quarterly, or monthly).
Prepaid (Ppd.) Freight charges paid by the consignor (shipper) prior to the release of the bills of lading by the carrier.
Prepaid B/L Freight paid prior to movement; money to be paid prior to issuance of bill of lading
Presenting Bank In a draft collection transaction, the bank that contacts the drawee, generally the buyer of goods, for acceptance and/or payment.
Pre-Shipment Inspection (PSI) The checking of goods before shipment for the purpose of determining the quantity and/or quality of said goods by an independent surveyor (inspection company) for phytosanitary, sanitary and veterinary controls.
Presently there is a tendency by developing countries to use the inspection also for the purpose of determining whether the price charged for certain goods is correct.
Pre-Slinging The act of placing goods in slings which are left in position and used for loading into and discharging from a conventional vessel.
Pre-Trip Inspection (PTI) A technical inspection of Reefer containers prior to positioning for stuffing
Price Transparency When both buyer and seller know pricing. Net markets can eliminate arbitrage situations when only a broker knows the price. Net markets can result in sellers making more money and buyers paying a lower price, since broker margins are reduced.
Principal Party entrusting a draft and/or documents to a bank for collection of payment, generally the seller of goods.
Prior damage (Ins) Pre-existing damage that occurred prior to the loss in question.
Priority Order An order which is identified as taking precedence over other orders to ensure its completion in the minimum time.
Private Carrier Business which operates trucks primarily for the purpose of transporting its own products and raw materials. The principle business activity of a private carrier is not transportation.
Private Warehouse A warehouse operated by the owner of the goods stored there.
Procurement The activities which ensure the availability of the material and or services in the desired quantity, quality, place and time from the supplier.
Professional Liability Insurance (Ins) Liability insurance to indemnify professionals, doctors, lawyers, architects, etc. for the loss or expense resulting from claim on account of bodily injuries because of any malpractice, error or mistake committed or alleged to have been committed by the insured in his profession.
Pro Forma A Latin term meaning "For the sake of form."
Pro Forma Invoice An invoice provided by a supplier prior to the shipment of merchandise, informing the buyer of the kinds and quantities of goods to be sent, their value, and specifications (weight, size, etc.).
Pro Rata A Latin term meaning "In proportion."
Pro Rate (Ins) Cancellation of an insurance contract by the insurance company, allowing a policyholder a share of the premium relating to the remainder of the time under the contract that bears to the total contract premium.
Product Carrier A tanker, which is generally below 70,000 deadweight tons and used to carry refined oil products from the refinery to the consumer. In many cases, four different grades of oil can be handled simultaneously.
Progress Payment One in a series of payments made at stages in the performance of a contract of sale, e.g., up front to obtain materials, after completion of manufacturing, upon shipment, upon installation, and upon final inspection.
Project Cargo Quantity of goods connected to the same project and often carried on different moments and from various places.
Project Rate Single tariff item, established to move multiple commodities needed for a specified project, usually construction.
Proof Of Delivery The receipt signed by the consignee upon delivery.
Proof Of Loss (Ins) A statement made to the insurance company under oath setting out the basis of an insured's claim under the insurance policy.
Property Damage Insurance (Ins) Protection against liability for damage to the property of another not in the care, custody and control of the insured, as distinguished from liability for bodily injury.
Property Insurance (Ins) Insurance which indemnifies a person with an interest in physical property for its loss or the loss of its income-producing ability.
Proportional Rate A rate which is used in combination with other rates to establish a through rate (aircargo),
Prorate A portion of a joint rate or charge obtained by proration (aircargo).
Proration Division of a joint rate or charge between the carriers concerned on an agreed basis (aircargo).
Protection & Indemnity Club (P&I) A mutual association of shipowners who provide protection against liabilities by means of contributions
Protest - A sworn statement by the master describing any unusual event during a voyage.
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In a draft collection transaction, the formal legal process of registering that payment or acceptance of the draft has been demanded but the drawee has refused to pay or accept the draft.
Proximate Clause (Ins) The immediate and effective cause of loss or damage. It is an unbroken chain of cause and effect between the occurrence of an insured peril or a negligent act and resulting injury or damage.
PSI See "Pre-Shipment Inspection"
PTI See "Pre-Trip Inspection"
PU That Stinks
Public Service Commission A name usually given to a State body having control or regulation of public utilities.
Public Warehouse A warehouse which is available to all companies and persons who wish to make use of the services offered.
Publishing Agent Person authorized by transportation lines to publish tariffs or rates, rules, and regulations for their account.
Pull Order System A system to provide warehouses with new stock on request of the warehouse management.
Pulp Temperature Procedure where carrier tests the temperature of the internal flesh of refrigerated commodities to assure that the temperature at time of shipment conforms to prescribed temperature ranges.
Pup A short semi-trailer used jointly with a dolly and another semi-trailer to create a twin trailer.
Purchase Order (PO) A document created by a buyer to officially request a product or service from a seller. It contains, among other things, the name and address of the buyer, the ship-to address, the quantity, product code [and expected price], requested ship or receipt date, sales and shipping terms, and other appropriate information.
PUS Plus Us
Push Order System A situation in which a firm makes inventory deployment decisions at the central distribution center and ships to its individual warehouses accordingly.
PWWD Per Weather Working Day
   
 
DISCLAIMER:   These terms and definitions have been gathered from many sources public and private. This list is designed to serve as a reference. No warranty for the accuracy is stated nor implied.

HOME

Over 3600 Ocean Marine, Shipping, Chat & Insurance Terms and Abbreviations
To jump to a section, click the letter. (Opens in new browser window)
Some letters have several hundred entries and may take some time to download
TERM COLORS: Black = Transport - -  Blue = Insurance - - Green = Chat/Email

Chat - A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z

5 Steps + 2 Minutes = AllCovered --- Paperless -- No Monthly Reporting
-- Cargo - Bonds - BOL Liability/E&O - Warehouse - Business Insurance --

-- We have Logistics AllCovered --

These terms, abbreviations and descriptions have been gathered from many sources
online and in print. No warranty for their accuracy is stated nor implied.

 

Last Updated:
Monday, 08 June 2009 14:31:41 -0400

 

 

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Debbie Miller
Customer Service - Allcovered.net
Ocean Marine Division; Allen Insurance Group
Voice: +1.478.825.5566 Ext. 108
E-Fax: +1.419.715.4723
Email: debbie.miller@allcovered.net

 

 

 

 

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