Glossary

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GLOSSARY INDEX

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ABBREVIATION
DEFINITION
  • In Transit 
    In transit, or in passage. 
  • In-line blending 
    The practice of pumping various motor gasoline components from their individual storage tanks into a single pipe and mixing them in the process. Gasoline made in such fashion generally is intended for bulk in shipment. Typically it flows directly aboard a
  • IN. 
    Inch (-es) 
  • Incentive Rate 
    A lower–than–usual tariff rate assessed because a shipper offers a greater volume than specified in the tariff. The incentive rate is assessed for that portion exceeding the normal volume. 
  • Incinerator 
    A vessel equipped for the (now illegal) incineration of waste material at sea 
  • INCL 
    Including 
  • INCLOT 
    Including Overtime 
  • INCLOT or IOT 
    Including Overtime 
  • INCO TERMS 
    Internaitonal Commercial Terms: A list of standard contract terms which specify the obligations for the delivery of goods in International Contracts particularly traded commodities. It is compiled and published the International Chamber of Commerce. 
  • INCOTERMS 
    The recognized abbreviation for the International Chamber of Commerce Terms of Sale. These terms were last amended, effective July 1, 1990. 
  • IND 
    Independent or Indication 
  • Indemnity Bond 
    An agreement to hold a carrier harmless with regard to a liability. 
  • Independent Action 
    Setting rate within a conference tariff that is different from the rate(s) for the same items established by other conference members. 
  • Independent surveyors 
    The inspection and testing organizations hired by petroleum companies to determine how much and what quality of oil changed hands in performance on a deal. In the interest of impartiality, buyers and sellers usually share the cost of inspections. 
  • Independent Tariff 
    Any body of rate tariffs that are not part of an agreement or conference system. 
  • Indication 
    A suggestion given by a prospective buyer or seller of what he might do. Indications imply no commitments. At this level of discussions, folks can change their minds without serious consequences. 
  • INDO 
    Indonesia 
  • Inducement 
    Placing a port on a vessel’s itinerary because the volume of cargo offered at that port justifies the cost of routing the vessel. 
  • Inert Gas 
    The atmosphere introduced into the ullage space of a tank to reduce its oxygen content to 8% O2 or less in order to prevent ignition of the vapour or cargo. Inert gas on vessels is usually the cleaned products of combustion from a boiler or inert gas gen 
  • Inert Gas Blanketing 
    Inert gas, usually nitrogen, put in the ullage space in a pressurised tank to prevent air oxidation of the product. 
  • Inert Gas Processing Pontoon, non propelled 
    A non propelled pontoon used for the purpose of generating Inert Gas 
  • Infantry Landing Craft 
    A combat vessel with a bow ramp for landing or loading infantry 
  • INFO 
    Information 
  • Infrared Radiation 
    The visible light is only a small fraction of the electromagnetic waves. Waves with wavelength longer than the visible red are generally called infrared radiation. Infrared radiation is that section of the spectrum covering the range from the limit of the
  • Inherent Vice 
    An insurance term referring to any defect or other characteristic of a product that could result in dam- age to the product without external cause (for example, instability in a chemical that could cause it to explode spontaneously). Insurance policies ma
  • Initial boiling point 
    The temperature where a natural material or fraction begins to boil. 
  • Inland Barge Tow 
    Towboats push barges on the nation's inland waterways loaded with materials and products that are the building blocks of America's economy - coal, grain, petroleum products, petrochemicals, fertilizers, sand, gravel, metal scrap, etc. One tow can be compr
  • Inland Barges 
    Self-propelled barges or dumb barges employed in port areas, on inland waterways sheltered or estuarial waters, which are not classified as seagoing vessels, including tankers not covered by international convention. Inland barges may be regulated by loca
  • Inland Bill Of Lading 
    An inland bill of lading allows the transporter to move goods across domestic land, via rail or truck. If the goods are to be shipped overseas, an addition document known as an "ocean bill of lading" is required. The inland bill only allows the materials
  • Inland Carrier 
    A transportation line that hauls export or import traffic between ports and inland points. 
  • INMARSAT 
    International Maritime Satellite (organization): An international telecommunications company founded in 1979, originally as an intergovernmental organization. It operates a fleet of telecommunications satellites 
  • INNNGWB 
    If New York, not north of George Washington bridge 
  • Inorganic 
    Not based on a carbon structure eg caustic soda, phosphoric acid 
  • Inorganic 
    Inorganic is said of any substance in which two or more chemical elements other than carbon are combined. Every chemical is either inorganic or organic. 
  • INS 
    Integrated Navigation System 
  • INS 
    Insert or Insurance 
  • INSP 
    Inspection or Inspector 
  • Inspection Certificate 
    A certificate issued by an independent agent or firm attesting to the quality and/or quantity of the merchandise being shipped. Such a certificate is usually required in a letter of credit for commodity shipments. 
  • INST. 
    Instant or Present month 
  • INST. 
    Clauses oficially accepted by the Institute of clauses London Underwriters 
  • Installment Shipments 
    Successive shipments are permitted under letters of credit. Usually they must take place within a given period of time. 
  • Insulated Container 
    A container insulated on the walls, roof, floor, and doors, to reduce the effect of external temperatures on the cargo. 
  • Insulated Container Tank 
    The frame of a container constructed to hold one or more thermally insulated tanks for liquids. 
  • Insurance with Average–clause 
    This type of clause covers merchandise if the damage amounts to three percent or more of the in- sured value of the package or cargo. If the vessel burns, sinks, or collides, all losses are fully covered. In marine insurance, the word average describes pa
  • Insurance, All–risk 
    This type of insurance offers the shipper the broadest coverage available, covering against all losses that may occur in transit. 
  • Insurance, General–Average 
    In water transportation, the deliberate sacrifice of cargo to make the vessel safe for the remaining cargo.Those sharing in the spared cargo proportionately cover the loss. 
  • Insurance, Particular Average 
    A Marine insurance term which refers to partial loss on an individual shipment from one of the perils insured against, regardless of the balance of the cargo. Particular–average insurance can usually be obtained, but the loss must be in excess of a certai
  • Integrated oil companies 
    Organizations which find, produce, transport, and refine oil, and market oil products. Less complete enterprises concentrate on a part of this sequence. The industry calls its largest integrated companies the majors. 
  • INTERCARGO 
    International Association of Dry Cargo shipowners 
  • Interchange Point 
    A location where one carrier delivers freight to another carrier. 
  • Interchangeabililty 
    All fats have a common basic chemical structure, being triglycerides. However, because the fatty acids in combination vary, the physical properties of different fats are not identical. In general, liquid character is imparted by unsaturated acids and by s
  • Intercoastal 
    Water service between two coasts; in the U.S., this usually refers to water service between the Atlantic and Pacific or Gulf Coasts. 
  • Intercrystalline Corrosion 
    Corrosion in or adjacent to the grain boundaries of a metal 
  • Interesterication  
    A term given to the production of esters by interaction of two esters in the presence of an alkaline or enzymatic catalyst. 
  • Interesterification 
    Interesterification modifies the natural distribution of the fatty acids in fats and oils. By the use of a catalyst the combined fatty acids are induced to become detached from their original glycerol molecule and reattached in a random manner (random int
  • INTERGRAF 
    International Confederation of Printing and Allied Industries 
  • Intergranular corrosion 
    Corrosion in or adjacent to the grain boundaries of a metal 
  • Interior Channel 
    The access channel system inside a water body that connects the entrance channel (inlet or bar) to a port or harbor with appropriate ship facilities. Interior channels are usually located to provide some protection from waves and weather and are located i
  • Interline Freight 
    Freight moving from origin to destination over the Freight lines of two or more transportation car- riers. 
  • Intermediate 
    A partially refined petroleum stream. Such materials require further processing to make finished products. Various intermediates sell as feedstocks. The industry also uses this word as an adjective to designate a medium score on some quality ranking--betw
  • Intermediate 
    A chemical intermediate is any substance generated by one step in a synthetic process and used for the succeeding step. 
  • Intermediate crude 
    Petroleum with sulfur content between sweet and sour--often defined as between 0.5 and 1.0 weight percent sulfur. 
  • Intermediate Point 
    A point located en route between two other points. 
  • INTERMODAL 
    Carriage of a commodity by different modes of transport, i.e. sea, road, rail and air within a single journey. 
  • International Ship and Port Security Code (ISPS) 
    It is an amendment to the Safety of Life at Sea (SOLAS) Convention (1974/1988) on minimum security arrangements for ships, ports and government agencies. Having come into force in 2004, it prescribes responsibilities to governments, shipping companies, sh
  • INTERTANKO 
    The International Association of Independent Tanker Owners: An international organisation based in London whose aim is to represent the views of its members at International Forums. 
  • INTN 
    Intention 
  • INV 
    Invoice 
  • Invoice 
    An itemized list of goods shipped to a buyer, stating quantities, prices, shipping charges, etc. 
  • Inward Foreign Manifest (IFM) 
    A complete listing of all cargo entering the country of discharge. Required at all world ports and is the primary source of cargo control, against which duty is assessed by the receiving country. 
  • Iodine Value 
    Iodine value is a measure of the total number of unsaturated double bonds present in an oil. Determination of iodine value involves the addition of an excess of halogen to the sample, reaction of the excess halogen with potassium iodide and titration of l
  • IOM 
    Isle of Man 
  • IOP 
    Irrespecitve of percentage 
  • IOPC 
    International Oil Pollution Compensation (fund) 
  • IOPP 
    International Oil Pollution Prevention Certificate 
  • IOPPC 
    International Oil Pollution Prevention Certificate 
  • IOR 
    Indian Ocean Region 
  • IOU 
    I owe you 
  • IPA 
    Intermediate Pressure Ahead 
  • IPA 
    Isopropyl Acetate 
  • IPA 
    Isopropyl Alcohol 
  • IPF 
    Intaken piled fathorn 
  • IPI 
    Inland Point Intermodal: Refers to inland points (non–ports) that can be served by carriers on a through bill of lading. 
  • IPIF 
    International Petrochemical Information Forum 
  • IPOC 
    Initial Point of Contact 
  • IPP NLS 
    International Pollution Prevention Noxious Liquid Substance Certificate 
  • IPPC 
    EU Integrated Pollution Prevention and Control (see Best Available Techniques) 
  • IPS 
    Intermediate Pressure astern 
  • IPSO FACTO 
    By the fact itself 
  • IRD 
    Inland rail depot 
  • IRO 
    In respect of 
  • Iron 
    Iron acts as a catalyst in oxidation processes and thus it is detrimental to the quality of oils and fats. Iron is a trace metal, its presence in vegetable oils is mainly due to contamination such as wear and tear of machinery during extraction and during
  • Irrevocable Letter of Credit 
    Letter of credit in which the specified payment is guaranteed by the bank if all terms and conditions are met by the drawee and which cannot be revoked without joint agreement of both the buyer and the seller. 
  • Irritant 
    A substance that produces an irritating effect when it contacts the skin, eyes, nose or respiratory system. 
  • IRS 
    Indian Register of Shipping 
  • ISF 
    International Shipping Federation 
  • ISGOTT 
    International Safety Guide for Oil Tankers and Terminals: A comprehensive guide to the safe conduct of all tanker and terminal cargo related operations 
  • ISIF 
    International Styrene Information Forum. For more information, click here. 
  • ISIS 
    Integrated Ship Inspection System (see CDI) 
  • ISLWG 
    International Shipping Legislation Working Group (UNCTAD) 
  • ISM 
    International Safety Management 
  • ISM Code 
    Provides an international standard for the safe management and operation of ships and for pollution prevention. This is a regulatory requirement for shipping companies. 
  • ISM(C) 
    International Safety Management Code 
  • ISMC 
    International Safety Management Code 
  • ISO 
    Instead of or International Standard Organization 
  • ISO 14001 
    Provides standards on how to manage a company''s activities in a way that minimizes harm to the environment. 
  • ISO 9001 
    Provides standards any company can use to deliver good quality products or services. 
  • Isobutane 
    See Butane 
  • Isobutanol 
    Isobutanol is a colorless, flammable organic compound classified as an alcohol. As such, it is widely used as a solvent in chemical reactions and as a starting material for organic synthesis. 
  • Isobutyl acetate 
    Isobutyl acetate is a common solvent, produced from the esterification of isobutanol with acetic acid. 
  • Isobutylene 
    Isobutylene is used in organic synthesis and in the production of high octane aviation gasoline. Its main use is in the production of butyl rubber where it comprises 98% of the raw material used. 
  • Isomer 
    Compounds containing the same elements in the same proportions which can exist in more than one structural form, e.g. geometric, positional or cyclic. 
  • Isomer 
    One of two or more compounds of the same type and chemical formula but different configurations. For example two C4 paraffins, isobutane and normal butane have the same number of carbon and hydrogen atoms. But the carbons form a T shape in one and a strai
  • Isomer-Isomeric 
    Two or more substances that have identical molecular formulas but different molecular structures or configurations, and hence different properties, are called isomers. Isomers differ only in the arrangement of their component atoms. 
  • Isomerate 
    The motor gasoline blendstock made by a C5-C6 isomerization unit. 
  • Isomerisation 
    The chemical process by which a compound is transformed into any of its isomeric forms, i.e., forms with the same chemical composition but with different structure or configuration and, hence, generally with different physical and chemical properties. An
  • Isomers 
    Materials having the same chemical formula but having different structures and properties. 
  • Isomerzation 
    A process which forces one isomer to become another. The most common application in the oil industry involves twisting linear paraffins into branched-chain form. Many refiners turn into isobutane, and a normal pentane hexane stream into an isopentaneisohe
  • ISOPA 
    The European Isocyanate Producers Association, an affiliate of Cefic. 
  • Isoparaffins 
    Branched-chain saturate hydrocarbons. Any paraffin composed of four or more carbon atoms can have one or more isoparaffinic isomers. 
  • Isophorone 
    Isophorone is a clear liquid that can be dissolved in water. It is an industrial chemical used extensively as a solvent in some printing inks, paints, lacquers, adhesives, vinyl resins, copolymers, coatings, finishes, and pesticides, in addition to being
  • Isopropanol 
    Isopropanol is a major component of rubbing alcohols. Isopropanol is a secondary alcohol. It is one of the cheapest alcohols and has replaced ethanol for many uses because of its similar solvent properties. Isopropanol was formerly obtained largely by cat
  • Isopropyl acetate 
    Isopropyl Acetate is a fast evaporating, mild odor solvent that is miscible with most common organic solvents and has properties intermediate between ethyl and butyl acetates. Isopropyl acetate can be used as surfactant in cleaning fluids, coatings, coati
  • ISPS 
    International Ship and Port Facility Security 
  • ISPS CODE 
    International Ship and Port Facility Security Code 
  • ISSC 
    International Ship Security Certificate 
  • Issuing Bank 
    Bank that opens a straight or negotiable letter of credit and assumes the obligation to pay the bank or beneficiary if the documents presented are in accordance with the terms of the letter of credit. 
  • Issuing Carrier 
    The carrier issuing transportation documents or publishing a tariff. 
  • ISTEC 
    Intertanko Technical Committee 
  • ISWG 
    Intersessional Working Group on Maritime Security 
  • IT 
    Immediate Transport: The document (prepared by the carrier) allows shipment to proceed from the port of entry in the U.S. to Customs clearing at the destination. The shipment clears Customs at its final destination. Also called an “In–Transit” Entry. 
  • ITC 
    International Tonnage Certificate 
  • ITF 
    International Transport Workers Fedration 
  • ITF 
    International Transportworkers Federation 
  • ITF or ITFW 
    International Transport Worker’s Federation 
  • ITOPF 
    International Tanker Owners Pollution Federation 
  • ITOSF 
    Informal Tanker Operator's Safety Forum 
  • IU 
    If Used 
  • IUATUC 
    If used actual time used to count 
  • IUATUTC 
    If Used, Actual Time Used To Count 
  • IUHATUTC 
    If Used, Half Actual Time Used To Count 
  • IUHTAUTC 
    If Used, Half Time Actually used to Count 
  • IV 
    Invoice value or increased value 
  • IVR 
    Rhine Barge Register: International Association for the representation of the mutual interests of the inland shipping and the insurance and for keeping the register of inland vessels in Europe. 
  • IWL 
    Institute Warranty Limits