CHARTERING

TERMS & CONDITION

HOME TERMS ABBREVIATION TRADING TERMS FEEDBACK ADVERTISE CONTACT US
   
 
 
 
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
 
   O
O (Oscar)
Man overboard
O/C Ore Carrier ; Open Charter
OAL Overall Length
OAPEC Organization of Arab Petroleum Exporting Countries
OAU
Organisation of African Unity
OBO Ore Bulk Oil - a vessel constructed in such a way that it may carry various bulk cargoes of ore, oil, grains and other bulk products.
OBO-carrier Vessel built for the carriage of diversified bulkcargoes (i.e. Oil/Bulk/Ore).
OBQ On Board Quantity - refers to cargo, bunkers or fresh water on board the ship prior to commencement of a charter, a voyage or loading operation. Also cargo tank quantities of any material aboard a ship after deballasting, immediately prior to loading. Can include oil, oil/water emulsion, water, non-liquid hydrocarbons and slops. (NET OBQ:OBQ less free water in cargo, slop tanks and lines, and water in suspension in slop tanks)
OCIMF Oil Companies' International Marine Forum (London)
OECD Organization for Economic Co-operation and Development - 25 member countries.
Offshore activities For shipowning companies, O.A. include activities connected with the exploration for, development of and operation of oil and gas fields at sea. Most important are: Collecting seismic data, test drilling, field development, towing and anchor handling, the supply service, transportation of equipment and modules, heavylifts, diving operations and underwater work, the use of ROVs, pipelaying, operation of floatels and construction jobs. Salvage and rescue operations are also important aspects of this. The loading of oil tankers offshore by means of buoys or fixtures on the seabed, is still another feature of Norwegian offshore activities.
Offshore service vessels Common term for specialized vessels used during the exploration, development and production phases of oil and gas at sea.
OFS Oljearbeidernes Fellessammenslutning (Stavanger) - Norwegian federation of trade unions in the oil industry.
OFU Offshoren'ringens Forhandlingsutvalg - negotiating committee for the offshore industry.
OGLA Offshore Galveston Lightering Area
OIC Officer In Charge
Oil spill compensation Compensation for oil spills is internationally regulated by two conventions - The Civil Liability Convention - CLC - (i.e. International Convention on Civil Liability for Oil Pollution Damage - 1969) regulating the shipowners' liability, and The Fund Convention (i.e. International Convention on the Establishment of an International Fund for Oil Pollution Damage, 1971), with a fund financed by the cargo owners (oil companies) paying compensation if the shipowner cannot be held responsible, or if compensation paid is not adequate, with a maximum limitation clause.
Oil String
The last section of the drill pipe to be cemented in place. Also called Inner Conductor or Production Casing.
Oil-tanker Ship carrying crude oil or refined products. If a ship is equipped to carry several types of cargo simultaneously, the ship type is called Parcel tanker. A shuttle tanker is a tanker carrying oil from offshore oil fields to terminals. An oil tanker especially built for the transportation of refined oilproducts, often with tanks painted or coated on the inside, is called a product carrier.
OLF Oljeindustriens Landsforening (Stavanger) - Federation of oil industry employers.
OMB Office of Management and Budget (U.S.)
OMS Office of Marine Safety (U.S.)
On Stream The phase where the oil/gas production is started through the main pipe.
OPA Oil Pollution Act (USA)
OPEC Organization of Petroleum Exporting Countries (Vienna)
Ore/oil carrier Ship with separate cargo holds for ore cargoes. When the ship is carrying oil, the ore holds may also be filled with oil, in order to utilize the deadweight capacity to the fullest.
OSSL Oljeserviceselskapenes Landsforening - The Association of Norwegian Oil Industry Service Companies.
OSV Offshore Support Vessel
Home | Terms | Abbreviations | Trading Terms | Contact Us | Feedback | Advertise
Copyright 2011 Chartering Terms & Conditions