Glossary of Shipping Terms:
" M " (page-2)
Measurement Ton
A ton of one cubic metre water.
Mechanics Lien
The legal enforceable claim, which a person who has performed work or provided materials is, permitted to make against title to the property or as a preferential person in the event the estate or business is liquidated.
Medical First Aid Guide (MFAG)
Instructions to be consulted in case of accidents involving dangerous goods.
Memo Bill
See: Service Bill of Lading
Merchant
For cargo carried under the terms and conditions of the Carrier's Bill of Lading and of a tariff, it means any trader or persons (e.g. Shipper, Consignee) and including anyone acting on their behalf, owning or entitled to possession of the goods.
Merchant Haulage
Inland transport of cargo in containers arranged by the Merchant.
It includes empty container-moves to and from hand-over points in respect of containers released by the Carrier to Merchants.
Note: Carrier's responsibility under the Bill of Lading does not include the inland transport stretch under Merchant Haulage.
Meta-centric Height
The distance between the centre of gravity of a vessel and a fictitious point. If the metra-centric height is zero or negative, the vessel will heel or capsize.
Minimum Charge
The lowest amount which applies to the transport of a consignment, irrespective of weight or volume.
Minimum Inventory
The planned minimum allowable inventory for an independent demand item.
Minor Unit
Unit of recorded value (i.e. as recorded by banks) which is a division of the respective unit of currency.
Examples are the cent being a one hundredth part of the US Dollar.
Note: Some countries have minor units that are used in low-value coinage within a country or locality, but which are not used by the international banking system in making formal records of value. Examples: Belgium, Greece and Spain.
Mixed Consignment
A consignment of different commodities, articles or goods, packed or tied together or contained in separate packages.
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Mode of Transport
Method of transport used for the conveyance of goods, (e.g. by rail, by road, by sea).
Model
A representation of a process or system that attempts to relate the most important variables in the system in such a way that analysis of the model leads to insights into the system.
Module
A separate and distinct unit of hardware or software that may be used as a component in a system.
Movement
The act or process of changing the position of an object and or people.
Movement Inventory
The inventory during a production process caused by the time required to move goods from one place to another.
Multi Purpose Carrier
See: Multi Purpose Vessel
Multi Purpose Vessel
Vessel designed for the carriage of different types of cargo: general, bulk, heavy and/or containerised cargo.
Multimodal Transport
The carriage of goods (containers) by at least two different modes of transport.
Multimodal Transport Document
See: Combined Transport Document
Multimodal Transport Operator/Carrier (MTO/Carrier)
The person on whose behalf the transport document or any document evidencing a contract of multimodal carriage of goods is issued and who is responsible for the carriage of goods pursuant to the contract of carriage.
Multiple Sourcing
Selecting of and working with more than two equivalent suppliers for a certain product.
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