A letter of credit that allows the beneficiary to transfer in whole or in part to another beneficiary any amount which, in aggregate, of such transfers does not exceed the amount of the credit. Used by middlemen.

A sailboat with its bow pointed directly into the wind, preventing the sails from filling properly and stopping the boat. It can be very difficult to get a boat that is in irons back under sail. also known as "In Stays".

Are categorized as internal or external heat reactivated. Internal type - Process air enters the dryer through the inlet piping, is then dried as it passes through the desiccant bed, and discharges through the outlet piping as dry air. Regeneration of the ...

The point where the bottom and the sides of a ship join.

To make headway when there is no apparent wind.

To let go.

In charge of twelve to four watch. Ships navigation officer. Keeps charts (maps) up to date and monitors navigation equipment on bridge.

The resistance to movement. (2) An anchor drags when its flukes do not hold.

Limber hole of a ship.

To stop, especially to stop work.

A notation on a bill of lading that the cargo has been stowed on the open deck of the ship.

Turning the wheel or tiller as far as possible

A rope passed round a man in the chains, while sounding.

Space booked by shipper or charterer on a vessel but not used

A letter of credit forwarded to the beneficiary by the advising bank without engagement on the part of the advising bank.

A trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment.

The top of the mast

Land

The strongest part of a vessel's side, to which the beams, knees, and foot-hooks are bolted. The part between the water's edge and the bulwarks.

A system by which an object such as a compass is suspended so that it remains horizontal as the boat heels.