OBO SHIP
A
multipurpose ship that can carry ore, heavy dry bulk goods and oil.
Although more expensive to build, they ultimately are more economical
because they can make return journeys with cargo rather than empty as
single-purpose ships often must.
OCEAN
WAYBILL
A document,
issued by a shipping line to a shipper which serves as a receipt for the
goods and evidence of the contract carriage.
ODS
Operating Differential
Subsidy: A direct subsidy paid to U.S.-flag operators to offset the high
operating cost of U.S.-flag ships when compared to foreign-flag
counterparts.
OECD
Organization for Economic
Cooperation and Development. The Maritime Transport Committee is part of
this organization.
OFF-HIRE CLAUSE
In a time charter, the
owner is entitled to a limited time for his vessel to be off hire until
such time as the vessel may be repaired or dry-docked.
OFFICER
Any of the licensed
members of the ship's complement.
OFF-LOAD
Discharge of cargo from a
ship.
OILER
An unlicensed member of the engine
room staff who oils and greases bearings and moving parts of the main
engine and auxiliaries. Most of this work is now done automatically and
the oiler merely insures it operates correctly.
OIL RECORD
BOOK
A book or log kept
by the master of an oil tanker wherein every discharge or escape of oil is
recorded.
OIL
TANKER
A ship designed
for the carriage of oil in bulk, her cargo space consisting of several or
many tanks. Tankers load their cargo by gravity from the shore or by shore
pumps and discharge using their own pumps.
OPEN
RATES
Pricing systems
that are flexible and not subject to conference approval. Usually applied
to products in which tramps are substituted for liners.
OPEN
REGISTRY
A term used in
place of "flag of convenience" or "flag of necessity" to denote registry
in a country which offers favorable tax, regulatory, and other incentives
to ship owners from other nations.
ORE
CARRIER
A large ship
designed to be used for the carnage of ore. Because of the high density of
ore, ore carriers have a relatively high center of gravity to prevent them
being still when at sea, that is, rolling heavily with possible stress to
the hull.
ORE-BULK-OIL
CARRIER
A large
multi-purpose ship designed to carry cargoes wither of ore or other bulk
commodities or oil so as to reduce the time the ship would be in ballast
if restricted to one type of commodity. This type of ship is sometimes
called bulk-oil carrier.
ORE-OIL
CARRIER
A ship designed
to carry either ore or oil in bulk.
ORDINARY
SEAMAN
A deck crew
member who is subordinate to the Able Bodied Seamen.
OVERTONNAGING
A situation where there are too
many ships generally or in a particular trade for the level of available
cargoes.
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