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Welcome to the Braemar Shipping Services Glossary. This contains terminology used in the shipping industry.

ADRAmerican Depository Receipt. The exchange system for trading of foreign shares in the USA.
AframaxOriginally a term coined for a crude oil tanker of exactly 79,999 long tons dwt being the upper limit of LR1 as defined by London Tanker Brokers Panel.
Now more usually referred to an oil tanker of above this size; our definition being 80,000-124,999 dwt
APIAmerican Petroleum Institute. Produces statistics on the US petroleum industry. Also responsible for the origination of API gravity which is used in crude oil pricing and is calculated by the formula (141.5/specific Gravity at 60 degF) minus 131.5
ARAAmsterdam-Rotterdam-Antwerp used in charterparty terms as a defined load or discharge port range.

To search the glossary please click A-Z to browse by initial, or click 'ALL'. Initials that have no glossary entries are greyed out.

AMEG: Middle East Gulf
USAC: US Atlantic Coast
USG: US Gulf
WAF: West Africa
TCE: Time Charter Equivalent
WS: Worldscale
TEU: Twenty Foot Equivalent Units