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Shipping Glossary
 
COMMON SHIPPING TERMS
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OD
  Outside Diameter.
   
Open Account
  A trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment such as a note, L/C, or other formal written evidence of indebtedness.
   
Open Policy
  A cargo insurance policy that is an open contract; e.g., it provides protection for all shipments in transit within a specified geographic trade area for a limited period of time. It is referred to as "open" because it does not require reporting of individual shipments. Summary or grouped reporting requirements vary with different policies.
   
Oncarriage
  The carriage of goods (containers) by any mode of transport to the place of delivery after discharge from the ocean vessel (main means of transport) at the port (place) of discharge.
   
One Stop Shop
  An organisation, which provides all needed requirements in one location.
   
Open Top Container
  A freight container similar in all respects to a general purpose container except that it has no rigid roof but may have a flexible and movable or removable cover, for example one made of canvas or plastic or reinforced plastic material normally supported on movable or removable roof bows.
   
O/R
  Owner's Risk.
   
Out of Gauge Cargo
  Cargo which dimensions are exceeding the normal dimensions of a 20 or 40 feet container, e.g. overlength, overwidth, overheight, or combinations thereof.
   
Outturn Report
  Written statement by a stevedoring company in which the condition of cargo discharged from a vessel is noted along with any discrepancies in the quantity compared with the vessel's manifest.
   
Overheight Cargo
  Cargo, exceeding the standard height.
   
Overlength Cargo
  Cargo, exceeding the standard length.
   
Overwidth Cargo
  Cargo, exceeding the standard width.
   
Owner
  The legal owner of cargo, equipment or means of transport.
 
 
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