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Shipping Glossary
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Shipping Glossary
Total LossTerm from marine hull insurance. There are three types: a) Actual Total Loss: Ship is no longer operable due to irreparable damage. b) Constructive Total Loss: Economic total loss: Constructed event insured if repair of the ship is not reasonable and repair costs exceed the insured sum. c) Arranged Total Loss: Assuming a total loss although the ship is fully operable but the owner no longer has command of the same |
TowThe assistance of harbour crafts in steering and leading seagoing vessels into the harbour area |
TowageThe charge made for towing a vessel |
TowingMoving a ship in the harbour from one berth to another |
TractorUnit of highway motive power used to pull one or more trailers/containers |
Trade AcceptanceA time or date draft that has been accepted by the buyer (the drawee) for payment at maturity |
Trade TermsTrade terms: If the Incoterms are not agreed upon for an export transaction the customary national trade terms apply which have been standardised and codified by the International Chamber of Trade and Commerce |
TrafficPerson or property carried by transport lines |
Traffic OrderGeneral service order to the terminal operator (BLG) in the ports of Bremen; consists of sales request (export) and purchase request (import) |
TrailerThe truck unit into which freight is loaded as in tractor-trailer combination |
