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Home > Investor Relations > Glossary
ABS American Bureau of Shipping, a classification society founded in the United States in 1862, is a non-profit organization that provides marine and offshore classification services
bulk carrier a vessel that is designed to carry unpacked cargo, usually consisting of a dry commodity, such as grain or coal
Capesize cargo ships of 150,000 DWT and above with a draft above 18.91 meters
CCS China Classification Society, a classification society founded in the PRC in 1956, is a specialized non-profit organization providing classification service
CGT compensated gross tonnage, calculated by multiplying the tonnage of a ship by a coefficient determined according to type and size of a particular ship, and used as an indicator of the volume of work necessary to build a given ship
Classification society worldwide non-governmental, experienced and reputable organizations or groups of professionals, ship surveyors and representatives of offices that promote the safety and protection of the environment of vessels and offshore structures. To do so, such societies set technical rules, confirm that designs and calculations meet these rules, survey vessels and structures during the process of construction and commissioning, and periodically survey vessels to ensure that they continue to meet the rules
Containership cargo ship that carry all of its load in truck-size containers, in a technique called containerization
Crude oil tanker a vessel which is designed to carry crude oil or other petroleum products in big tanks
DNV GL Det Norse Veritas is a classification society founded in 1864 and originally a Norwegian-based organization that inspected and evaluated the technical condition of merchant vessels there. Since then, the core competencies have expanded to cover the identification, assessment and advisement on managing risk in a variety of industries (including maritime vessels); Germanisher Lloyd is a classification society founded in 1867, which is a German-based organization that serves a wide range of industries in both the maritime and energy sectors. DNV and GL signed an agreement to merge in December 2012. The new entity will be called DNV GL Group.
DPV deepwater pipe laying crane vessel, self propelled vessel dedicated to subsea pipe laying in deepwater regions. These vessels also generally have their own cranes and derricks, sometimes with heavy lift capability
Drillship a maritime vessel that has been fitted with drilling apparatus. it is most often used for exploratory offshore drilling of new oil or gas wells in deep water or for scientific drilling
Drydock a narrow basin that can be flooded to allow a load to be floated in, then drained to allow that load to come to rest on a dry platform. Drydocks are used for the construction, maintenance, and repair of ships, boats, and other watercraft
DWT one DWT equals 1,000 kilograms, a unit of measurement of the maximum permitted load of a vessel, including the weight of cargo, passengers, fuel, stores and crew, when loaded to its maximum summer load line
Energy Efficiency
Design Index or EEDI
an index quantifying the amount of carbon dioxide that a vessel emits in relation to the goods transported
FPSO floating production storage and offloading vessel, large flexible units used in the offshore industry for the processing and storage of oil and gas that has been produced from nearby platforms or subsea templates
FSRU floating storage regasification unit, large flexible units to receive liquefied natural gas from offloading liquefied natural gas carriers, and the onboard regasification system provides natural gas exported to shore through risers and pipelines
Horsepower a unit for measuring the power of an engine with one horsepower equaling 0.736kW
International Maritime Organization or IMO the United Nations agency for maritime safety and the prevention of marine pollution by ships established in 1948
Jack-up a type of mobile platform that is able to stand still on the sea floor, resting on a number of supporting legs. The most popular designs use three independent legs, although some jack-ups have four legs or more. on “mat-type” jack-ups the legs are connected to a submerged hull
Keel a large beam around which the hull of a ship is built. The keel runs in the middle of the ship, from the bow to the stern, and serves as the foundation or spine of the structure, providing the major source of structural strength of the hull. The keel is generally the first part of a ship’s hull to be constructed
LNG liquefied natural gas
LR Lloyd’s Register Society, a classification society and independent risk management organization founded in 1760 in the United Kingdom, is a non-profit organization that provides risk assessment and mitigation services and management systems certification
Panamax ships classified as Panamax are of the maximum dimensions that will fit through the locks of the Panama Canal, each of which is 1,000 feet long by 110 feet wide and 85 feet deep. Accordingly, a Panamax ship will usually have dimension of approximately 965 feet long (294.0 meters), 106 feet wide (32.3 meters) and a draft of 39.5 feet (12.0 meters)
Suezmax ships of between 120,000 DWT and 200,000 DWT, with dimensions allowing it to transit the Suez Canal fully loaded
TEU twenty-foot equivalent unit, an inexact unit of cargo capacity often used to describe the capacity of containerships and container terminals. it is based on the volume of a 20-foot-long (film) intermodal container, a standard-sized metal box
VLCC very large crude oil carrier of 200,000 DWT or above
VLOC very large ore carrier greater than 220,000 DWT
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