Logistic Terms - O

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• O/C - Open Cover.
• OBO Vessel - > Oil Bulk Ore Vessel
• Obsolete Stock - Products or materials that cannot be or are unlikely to be used in future processes and which are to be sold or disposed of through the usual outlets.
• Ocean Bill of Lading - Bill of Lading (B/L) issued by the actual shipping line. > Air Waybill > Consignment Note > Through Bill of Lading
• OEM - > Original Equipment Manufacturers
• Offshore Logistics - The organization of logistics contract work carried out at sea (e.g. logistics in drilling for oil).
• Oil Bulk Ore Vessel - Abbreviation: OBO Vessel. Vessel, designed for the carriage of either dry or liquid bulk cargo.
• On Board Bill of Lading - Bill of Lading confirming the receipt of merchandise and the fact that it was loaded on board the ocean vessel.
• On Deck Bill of Lading - Bill of Lading which states that the cargo has been stowed on deck.
• On-Line Charge - Charge which applies to carriage over the lines of a single carrier (air cargo). > Local Charge > Local Rate > On-Line Rate
• On-Line Rate - > On-Line Charge
• Oncarriage - Carriage of goods (containers) by any mode of transport to the place of delivery after discharge from the ocean vessel (main means of transport) at the port (place) of discharge. > Transshipment
• One-Way Pallet - Disposable Pallet, only used once. Note: The addition "One Way" has nothing to do with the number of pallet sides in which the forks of e.g. a fork lift can enter, as opposed to the two- and four-way pallets. > Disposable Pallet
• Onshore Logistics - The organization of logistics contract work carried out on land.
• Open Account - Abbreviation: O/A. Trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment. The obvious risk this method poses to the supplier makes it essential that the buyer's integrity be unquestionable. The transaction is payable when specified (i.e., R/M return mail; E.O.M. end of month; 30 days - 30 days from date of invoice; 2/10/60 - 2% discount for payment in 10 days, net if paid 60 days from date of invoice). If no term is specified O/A usually implies payment by return mail.
• Open Insurance Policy - Marine insurance policy that applies to all shipments made by an exporter over a period of time rather than to one shipment only.
• Open Order - > Backlog
• Open Position - Exposure to a foreign-exchange risk not covered by an offsetting transaction.
• Open-Sided Container - Shipping container with frames of wire mesh at the sides covered by means of a tarpaulin which can be dropped down to give unrestricted access to the sides of the container for loading or discharging.
• Open-Top Container - Shipping container similar in all respects to a general purpose container except that it has no rigid roof but may have a flexible and movable or removable cover, for example one made of canvas or plastic or reinforced plastic material normally supported on movable or removable roof bows.
• Operating Efficiency - Ratio of the actual output of a piece of equipment, department, or plant as compared to the planned or standard output.
• Operator - Party responsible for the day-to-day operational management of certain premises such as warehouses, terminals and vessels.
• Optimal Trim - Best calculated trim related to speed engine capacity, fuel consumption for a specific sailing condition.
• Optimization - Achieving the best possible solution to a problem in terms of a specified objective function.
• Optional Cargo - Cargo of which the final destination is not defined at the moment of departure of the vessel, but will be indicated during the voyage.
• Optional Port - Port of which it is not known whether or not it will be called by a vessel during a voyage.
• Optional Stowage Bill of Lading - Bill of Lading which gives the carrier the right to stow cargo wherever they see fit, especially with respect to the stowage of containers on deck.
• Order - Request to deliver specified quantities of goods or to render specific services.
• Order Bill of Lading - Negotiable Bill of Lading made out to the order of a named party.
• Order Line - Each line on a customer's purchase order. An order line always contains one Stock Keeping Unit (SKU) only, but the number may vary.
• Original Equipment Manufacturers - Abbreviation: OEM. Customers who incorporate the exporter's product into their own merchandise for resale under their own brand names.
• Out of Gauge Cargo - Cargo of which dimensions exceed the normal dimensions of a 20- or 40-feet container, e.g. overlength, overwidth, overheight, or combinations thereof.
• Outsider - Shipping line, which operates on a route served by a liner conference but which is not a member of that conference.
• Outturn Report - Written statement by a stevedoring company in which the condition of cargo discharged from a vessel is noted along with any discrepancies in the quantity compared with the vessel's manifest.
• Outward Handling - Operations to be performed on outgoing goods from a production unit, both administrative and physical, starting at the moment forwarding orders can be executed to the moment of actual departure of the goods.
• Over Pivot Rate - Rate per kilogram to be charged for the over pivot weight (air cargo). > Pivot Weight
• Over Pivot Weight - Weight in excess of the pivot weight (air cargo). > Pivot Weight
• Overage Additional Premium - All additional premiums charged on an open cover declaration where the carrying vessel is outside the scope of the classification clause. It may be applied, also, to additional premium charged for breach of navigational warranties (e.g. institute warranties) where the ship is more than 15 years old.
• Overcarrier - Carrier within a consortium which carries cargo beyond the allotment distributed to them. > Undercarrier
• Overheight Cargo - Cargo exceeding the standard height.
• Overlength Cargo - Cargo exceeding the standard length.
• Overpack - Unit used by a single shipper to contain one or more package(s) and to form one handling unit for convenience of handling and stowage. Dangerous goods packages contained in the overpack must be properly packed, marked, labeled and in proper condition as required by the regulations regarding dangerous goods (air cargo).
• Overtime - Work beyond normal established working hours.
• Overwidth Cargo - Cargo exceeding the standard width.
• Owner - Legal owner of cargo, equipment or means of transport.
• Owner's Container Code - > Container Prefix