|
TERM |
MEANING |
| O.C.P. rate |
Overland Common Point rates which are generally lower than local tariff rates, were established by the U.S. West Coast steamship companies in conjunction with railroads serving the western U.S. so that cargo originating or destined to the American Midwest and East would be competitive with all-water rates via the U.S. Atlantic and Gulf ports. O.C.P. rates are also applicable to eastern Canada. |
| Ocean Bill of Lading (Ocean B/L) |
Document indicating that the exporter will consign a shipment to an international carrier for transportation to a specified foreign market. Unlike an inland B/L, the ocean B/L also serves as a collection document. if it is a Straight B/L the foreign buyer can obtain the shipment from the carrier by simply showing proof of identity. If a negotiable B/L is used, the buyer must first pay for the goods, post a bond or meet other conditions agreeable to the seller. |
| Ocean Route |
The all water transportation portion of a route. |
| On Board |
Cargo has been loaded on board a combined transport mode of conveyance. Used to satisfy the requirements of a letter of credit, in the absence of an express requirement to the contrary. |
| On Board B/L |
A B/L in which a carrier acknowledges that goods have been placed on board a certain vessel. |
| On Deck |
A special stowage instruction to confine that the cargo stowage must be on deck rather than under deck. |
| One-Way lease |
Lease that covers the outbound voyage only, after which the container is returned to the lease holder at or near destination. |
| Open-Top Container |
A container fitted with a solid removable roof or with a tarpaulin roof that can be loaded or unloaded from the top. |
| Outbound |
Outward bound. Direction of vessel or cargo going out from port of loading or point/place of receipt. |
| Overheight Cargo |
Cargo stowed in an open-top container; projects above the uppermost level of the roof struts. |
