Hull and Machinery

A partially raised deck over the engine and boiler rooms, always around the smokestack, to let the hot air and fumes escape.

Operations Control Centre (INMARSAT)

Refers to the commitment by an Importer, evidenced by their accepting a Bill of Exchange drawn on them by an Exporter, to pay for goods at a fixed date in the future.

Bulk Carrier

An electronic device that controls the rotational speed of motor-driven equipment such as fans, pumps, and compressors. Speed control is achieved by adjusting the frequency of the voltage applied to the motor.

Overseas Private Investment Corporation.

Amounts owed by an organisation or individual to another for goods or services it has.

Abbreviation for "Uniform Freight Classification."

A term used in company accounts where income is due or a cost is incurred during an accounting.

The rate of build-up of a pension in a scheme where the calculation is based on salary. The accrual.

The change in the initial anode potential resulting from current flow effects at or near the anode surface. Potential becomes mode noble (more positive) because of anodic polarization.

A technique to reduce corrosion of a metal surface under some conditions by passing sufficient to it to cause its electrode potential to enter and remain in the passive region; imposing an external electrical potential to protect a metal from corrosive at ...

The electrolyte adjacent to the anode in an electrolytic cell.

This refers to shipping documents which are presented to a bank on a collection basis to be passed to the buyer when he or she accepts a bill of exchange. The bank holds the bill of exchange until it ends (maturity) when they ask the buyer to pay the sell ...

Insurance which pays benefits in the event of an accident. Items typically covered are medical.

Charterparty or Charter Party

Booking Note

(1) The portion of solution in immediate contact with the anode, especially if the concentration gradient is steep. (2) The outer layer of the anode itself.

An instrument whose calibration can be determined by means of simple physical measurements on the instrument. Compare to secondary instrument.