A tax payable by a company on its profits. The full rate is 30%, but there is a lower rate for.

A bank jointly owned by a number of other banks. An increasingly unfashionable way for small banks.

Path through open water used for commercial vessel passage and so noted on chart

Distinguishing flag of a merchant marine company flown from the mainmast of merchant ships.

See Brokerage.

The gas resulting from the combustion of a fuel that is emitted to the flue.

The details of insurance provided by an insurance company to a policyholder.

Small marlinespike.

An account, with a bank (or additionally a building society in the UK) into which deposits are made.

A measurement. The international unit of energy. One joule is equal to one WATT - second or 0.737 foot pounds.

Galley smokestack or chimney.

Old sailor's term for a flat calm with no wind.

Said of a vessel's anchor, or cable when the amount of cable out is not more than one-and-a-half times the depth of water.

The sale of an option, by a holder, identical to the option which is held. This transaction.

Code of Practice for the Safe Loading and Unloading of Bulk Carriers

A board that can be raised and lowered by pivoting in a watertight box called the trunk or well to increase the draft and lateral area of the hull, preventing the boat from sliding sideways. Unlike a daggerboard, which lifts vertically, a centerboard pivo ...

The highest navigation bridge. It usually includes an added set of controls above the level of the normal control station for better visibility.

Two half hitches around a spar or post. Easy way to make a line temporarily fast to a piling or post. The clove hitch can jam under heavy tension, making it difficult to untie. Worse, is its tendency to untie itself when subjected to repeated strain and r ...

freezing of a piston ring in its groove in a piston engine or reciprocating compressor due to heavy deposits in the piston ring zone.

Vertical frame components fitted at the corners of the container, integral to the corner fittings and connecting the roof and floor structures. Containers are lifted and secured in a stack using the castings at the ends.