Manifest
A document that lists in detail all the bills of lading issued by a vessel or its agent or master, i.e., a detailed summary of the total
cargoes or containers loaded in a vessel. Used principally for customs purposes. It is also called summary of Bills of Lading.
cargoes or containers loaded in a vessel. Used principally for customs purposes. It is also called summary of Bills of Lading.
Maquiladoras (ma¡¤kil¡¤a¡¤dor¡¤as)
Duty-free (for U. S. import) manufacturing plants located in Mexico.
Marine Insurance
Broadly, insurance covering loss or damage of goods at sea. Marine insurance typically compensates the owner of
merchandise for losses sustained from fire, shipwreck, piracy and various other causes but excludes losses that can be legally
recovered.
merchandise for losses sustained from fire, shipwreck, piracy and various other causes but excludes losses that can be legally
recovered.
Maritime
Business pertaining to commerce or navigation transacted upon the sea or in seaports in such matters as the court of admiralty
has jurisdiction over.
has jurisdiction over.
Marks and Numbers
Marks and Numbers placed on packages for export for identification purposes; generally a triangle, square, circle, diamond, or
cross with letters and/or numbers and port discharge. They are of important use before containerization.
cross with letters and/or numbers and port discharge. They are of important use before containerization.
Master Bill of lading (MB/L)
See ¡°Ocean Bill of
lading¡±.
lading¡±.
Master Lease
Master lease is one form of a short-term lease, which refers to the leasing of the containers by carriers from those leasing
companies.
companies.
Master Lease Leasing
Cost
Cost
Master lease leasing cost includes container rental, depot lift-on/lift-off charge, on/off hire drayage, drop-off charge and offhire
repair cost, etc. Due to off-hire quota limitation, the average on-hire period is around 73 days for 20'GP, 40'GP and 102 days for
40'HQ.
repair cost, etc. Due to off-hire quota limitation, the average on-hire period is around 73 days for 20'GP, 40'GP and 102 days for
40'HQ.
Mate's Receipt
A receipt signed by a mate of the vessel, acknowledging receipt of cargo by the vessel. The individual in possession of the
mate's receipt is entitled to the bill of lading, which in due course is issued in exchange for that receipt.
mate's receipt is entitled to the bill of lading, which in due course is issued in exchange for that receipt.
Maximum Payload
Maximum cargo that can be loaded into a container either by weight or volume.
Maximum Rate
The highest freight rate permitted by a regulatory body to apply between points.
Measurement
Ton
Ton
1 cubic metre.One of the alternative bases of Freight Tariff.
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.
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.
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.
arrival port by rail at through rates and documents.
Mini-Bridge
Cargo moving from/to an inland destination on one bill of lading from/to a foreign port through two U.S. ports.
Minimum Charge
The lowest charge that can be assessed to transport a shipment.
MT (M/T)
(a) Metric Ton or Cubic meter. (b) Empty container. (c) Multimodal Transport.
NAFTA¡ÂNorth American Free Trade
Agreement
Agreement
The joint Canada, Mexico and United States treaty to reduce tariffs and trade barriers to promote cross-border economic activity.
NVOCC
Non-Vessel Operating Common Carrier.Cargo consolidator of small shipments in ocean trade into containers at the port.
Negotiable Bill of Lading
Original bill of lading endorsed by shipper that is used for negotiating with banks.
Negotiating Bank
A bank named in the credit; examines the documents and certifies to the issuing bank that the terms are complied with.
Net Tonnage
A vessel's gross tonnage minus deductions of space occupied by accommodation for crew, by machinery, for navigation, by the
engine room and fuel. A vessel's net tonnage expresses the space available for passengers and cargoes.
engine room and fuel. A vessel's net tonnage expresses the space available for passengers and cargoes.
Net Weight
Weight of the goods alone without any immediate wrappings, e.g., the weight of the contents of a tin can without the weight of the
can.Also called actual net weight.
can.Also called actual net weight.
Non-negotiable Bill of Lading
Copy of original bill of lading which cannot be negotiated with banks.
Non-vessel Owning / Operating Common Carrier
(N.V.O.C.C.)
(N.V.O.C.C.)
(a) A cargo consolidator of small shipments in ocean trade, generally soliciting business and arranging for or performing
containerization functions at the port. (b) A carrier issuing bill of lading for carriage of goods on vessel which he neither owns nor
operates.
containerization functions at the port. (b) A carrier issuing bill of lading for carriage of goods on vessel which he neither owns nor
operates.
O.C.P. rate
Overland Common Point rates which are generally lower than local tariff rates. They were established by the U.S. West Coast
steamship companies in conjunction with railroads serving the western U.S. ports so that cargo originating or destined to the
American Midwest and East would be competitive with all-water rates via the U.S. Atlantic and Gulf ports. O.C.P. rates are also
applicable to eastern Canada.
steamship companies in conjunction with railroads serving the western U.S. ports so that cargo originating or destined to the
American Midwest and East would be competitive with all-water rates via the U.S. Atlantic and Gulf ports. O.C.P. rates are also
applicable to eastern Canada.
O.R.C.
Origin Receiving Charge. A Terminal Handling Charge levied at ports of loading.
Ocean Bill of Lading (Ocean B/L)
A bill of lading issued by the ocean-going carriers.
Ocean Route
The all-water transportation portion of a route.
On Board
Cargoes or containers landed onto the cargo hold or the cells of carriers.
On Board Bill of Lading
A Bill of Lading in which a carrier acknowledges that cargoes have been placed on board a certain vessel. The on-board date of
bills of lading is the date on which liabilities of the carrier start.
bills of lading is the date on which liabilities of the carrier start.
On Deck
A special stowage instruction to confine that the cargo stowage must be on deck rather than under deck.
One-Way lease
The lease of containers that covers the outbound voyage only, after which the container is returned to the lease holder at or near
destination agreed.
destination agreed.
Open-Top Container
A container fitted with a solid removable roof or with a tarpaulin roof that can be loaded or unloaded from the top.
Outbound
Outward bound.Direction of vessel or cargo going out from port of loading or point/place of receipt.
Overheight Cargo
Cargoes which exceed 9-1/2 ft. in height. They have to be stowed normally in an open-top container.
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