|
- 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.
- 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 13:31:41 -0500 |
| |
