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.

Microorganisms that require free oxygen, or air, to live, and that which contribute to the decomposition of organic material in soil or composting systems.

(ASB)UK body that sets accounting standards. A subsidiary body of the Financial Reporting.

1.Line Of Position.Agreement concerning Liability for Oil Pollution.

Pertaining to the action or effect of the wind. Derived from the name of the Greek god of the winds, Aeolus.

Bulk Carrier

Time Charter

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 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.

(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.

A Letter of Credit which includes a term bill of exchange in its required documentation. The bill will be accepted by the bank on which it is drawn, usually the issuing or advising bank, and the proceeds paid to the beneficiary at maturity.

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

A self-recording instrument used on aircraft for the simultaneous recording of atmospheric pressure, temperature, and humidity.

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

Electrolytic cleaning in which the work is the anode. Also called reverse-current cleaning.

International Aeronautical and Maritime Search and Rescue Manual

Hull and Machinery

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

Load / Discharge Borkers term : average load/discharge rate per day, in tons. (L/D 6000/3000). Usually followed by more details about the method of counting the days.

Operations Control Centre (INMARSAT)