Glossary of Shipping Terms:
" O " (page-1)
Object
A tangible of abstract thing of relevance to business.
Object Oriented Approach
The development of classes of business objects may support and have an impact on the developments in the area of simplification of EDI and its standards. A business object is a true representation of a tangible concept stemming from real business usage.
Obsolete Stock
The products or materials that cannot be or is unlikely to be used in future processes and which is to be sold or disposed of through the usual outlets.
Offshore
Contracting work carried out at sea (e.g. drilling for oil).
Oil Bulk Ore Vessel (OBO-Vessel)
A vessel designed for the carriage of either dry or liquid bulk cargo.
On-line Charge
The charge which applies to carriage over the lines of a single carrier.
On-line Rate
See: On-line Charge
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.
One Way Pallet
Note: The addition 'One Way' has nothing to do with the number of pallet sides in which the forks of e.g. a fork lift can enter, as opposed to the two and four way pallets.
See: Disposable Pallet
Open Order
See: Backlog
Open Sided Container
Container with frames with wire-mesh at the sides covered by means of a tarpaulin, which can be dropped down to, give unrestricted access to the sides of the container for loading or discharging.
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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.
Operating Efficiency
A ratio of the actual output of a piece of equipment, department, or plant as compared to the planned or standard output.
Operations Research
The development and application of quantitative techniques to the solution of problems. More specifically, theory and methodology in mathematics, statistics, and computing are adapted and applied to the identification, formulation, solution, validation, implementation, and control of decision making problems.
Operator
The party responsible for the day to day operational management of certain premises such as ware-houses, terminals and vessels.
Optimal Trim
The best calculated TRIM related to speed engine capacity, fuel consumption for a specific sailing condition.
Optimization
Achieving the best possible solution to a problem in terms of a specified objective function.
Option
One of a limited range of choices or features that is offered to a customer when purchasing an otherwise basic standard product and that has to be an integral part of the product (used in commercial trading).
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