Volume weight ratio of a substance calculated against the same volume of water at normal temperature and pressure. Indicates that a vessel is not equipped with a crane or other lifting device. Indicates that a vessel is equipped with a crane or other lifting device. The leg of the trade route that has the highest cargo volumes is often called ‘front-haul’ whereas the return leg is often referred to as ‘back-haul’. If the ship is an FPSO the ship has oil (or gas) processing capabilities. Ship used as substitute for a conventional oil platform at oil fields that are either too deep in the ground or too small to justify the use of a conventional oil platform. A subsidiary of the US Department of Energy – E&P:į(P)SO: Floating (Production) Storage Offloading Unit. International unit of measurement that indicates the loading capabilities in metric tonnes of the particular vessel, including the weight of crew, passengers, stores, bunkers etc.Įnergy Information Administration. Special instruments on board that in conjunction with bow thrusters and main propellers enable the ship to position itself in a fixed position in relation to the seabed.ĭead Weight Tons. Refers to heavy oils such as crude oil or refined oil products such as fuel oil or bunker oil.ĭynamic Positioning. Refers to trading routes longer than 3,000 nautical miles. The CSR require the ships to be built to a higher standard, thus enabling the ships to trade for longer periods of time. A common set of construction rules agreed by the leading international classification societies to be applied to all new construction contracts from Apbetween shipyards and shipowners for tankers of 150m or more in length and bulk carriers of 90m or more in length. Coated tanks enable the ship to transport corrosive refined oil products and it facilitates extensive cleaning of the tanks, which may be required in the transportation of certain oil product types.Ĭollaboration agreement between a number of container shipping lines on trade routes or regions for the purpose of enhancing efficiency of the vessel capacity and harmonizing price/teu.Ĭommon Structural Rules. The internal coatings applied to the tanks of a product tanker. Contract between shipping company and charterer concerning the freight of a predetermined volume of goods within a given period of time and/or at given intervals. Refers to light, refined oil products such as jet fuel, gasoline, diesel oil and naphtha.Ĭontract of Affreightment. International unit of measurement that facilitates a comparison of different shipyards' production regardless of the types of vessel produced.Īccording to Danish Ship Finance’s definition – a tanker with zinc, epoxy, marineline coating or stainless steel tanks (IMO I-II).Ĭommercial Interest Reference Rate – for further details, see the OECD website.īritish ship brokering and research company – Clean products: Unit of measurement indicating the car carrying capacity of a vessel.Ĭompensated Gross Tonnage.
Brent oil is traded at the International Petroleum Exchange in London, and the price of Brent is used as a benchmark for several other types of European oil.ĭescription of vessels transporting large cargo quantities, including coal, iron ore, steel, grain, gravel, oil, etc.ĭry bulk carrier of more than approximately 100,000 dwt too large to pass through the Panama Canal.Ĭar equivalent unit.
Term used for crude oil from the North Sea. Propeller in the front of the ship enabling it to turn sideways without forward momentum. gallons, or approximately 159 liters.īreak Horse Power. The leg of the trade route that has the lowest container volumes is often called ‘back-haul’, whereas the return leg is often referred to as ‘head-haul’.Ī volumetric unit measure for crude oil and petroleum products equivalent to 42 U.S. Light crudes generally exceed 38 degrees API and heavy crudes are commonly labeled as all crudes with an API gravity of 22 degrees or below. The higher the API gravity, the lighter the compound. The measuring scale is calibrated in terms of degrees API. Offshore vessel used for jobs such as the relocation of oil rigs and anchors of the oil rigs.Īn arbitrary scale expressing the gravity or density of liquid petroleum products. Crude oil tanker or product tanker too large to pass through the Panama Canal and below 120,000 dwt.Īnchor Handling Tug Supply.
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