Success in TEAMWORK GLOBAL LOGISTICS / TEAMWORK LOGISTICS PVT LTD is always a TEAMWORK

Common Shipping Terms


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Yard
Fenced off, outdoor storage and repair area.

Yaw
Variation of the course of a ship to port or starboard caused by the action of waves or wind.

Yawl
A vessel's small boat moved by one oar.
A small sailboat rigged fore-and-aft, with a short mizzenmast astern of the cockpit - distinguished from ketch.

Yield Bucket
The remaining slot capacity for a trade/voyage in a certain port of loading after deduction of the allowance for specific contracts.

Yield Management
The process of maximising the contribution of every slot, vessel, trade and network. Basically it should be seen as the process of allocating the right type of capacity to the right kind of customer at the right price as to maximise revenue or yield.
The concept should be used in combination with load factor management.

York - Antwerp Rules
There is a general average act when, and only when any extraordinary sacrifice or expenditure is intentionally and reasonably made or incurred for the common safety for the purpose of preserving from peril the property involved in a common maritime adventure.