|
TERM |
MEANING |
| Manifest |
Document that lists in detail all the bills of lading issued by a vessel or its agent or master, i.e., a detailed summary of the total cargo of a vessel. Used principally for customs purposes. It is also called summary of Bills of lading. |
| Marine Insurance |
Broadly, insurance covering loss or damage of goods at sea. Marine insurance typically compensates the owner of merchandise for losses sustained from fire, shipwreck, piracy and various other causes but excludes losses that can be legally recovered. |
| Maritime |
Business pertaining to commerce or navigation transacted upon the sea or in seaports in such matters as the court of admiralty has jurisdiction over. |
| Marks & Nos. |
Marks & Numbers placed on packages for export for identification purposes; generally a triangle, square, circle, diamond, or cross with letters and/or numbers and port discharge. |
| Master Lease |
Master lease is one form of a short-term lease, which refers to the leasing of the container from those leasing companies who have master lease agreement with OOCLL. At present, Triton, ICS, Xtra, Cronons and Genstar has such a contract with OOCLL. |
| Master Lease Leasing Cost |
Master lease leasing cost includes container rental, depot lieft on/lift off charge, on/off hire drayage, Drop off charge and Offhire repair cost. Due to off-hire quota limitation, the average on-hire period is around 73 days for 20' gp/40'gp and 102 days for 40'hq. On average basis, the leasing cost is US$500/20'gp, US$700/40'gp and US$800/40'hq. |
| Mate's Receipt |
A receipt signed by a mate of the vessel, acknowledging receipt of cargo by the vessel. The individual in possession of the mate's receipt is entitled to the bill of lading, which in due course is issued in exchange for that receipt. |
| Maximum Payload |
Maximum cargo that can be loaded into a container either by weight or volume. |
| Maximum Rate |
The highest freight rate permitted by a regulatory body to apply between points. |
| Measurement Ton |
1 cubic meter. One of the alternative bases of Freight Tariff. |
| Microbridge |
A landbridge movement in which cargo originating/destined to an inland point is railed or trucked to/from the water port for a shipment to/from a foreign country. The carrier is responsible for cargo and costs from origin to destination. Also known as I.P.I. and Through Service. |
| Mileage |
Distance in miles. |
| Mini Landbridge (MLB) |
An intermodal system for transporting containers from/to a foreign country by water to/from a U.S. ocean port other than the arrival port by rail at through rates and documents. |
| Mini-Bridge |
Cargo moving from/to an inland destination on one bill of lading from/to a foreign port through two U.S. ports. |
| Minimum Charge |
The lowest charge that can be assessed to transport a shipment. |
| MT |
(a) Metric Ton or Cubic meter. (b) Empty container. (c) Multimodal Transport. |
