Glossary
Welcome to the Braemar Shipping Services Glossary. This contains terminology used in the shipping industry.
ADR | American Depository Receipt. The exchange system for trading of foreign shares in the USA. |
Aframax | Originally 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 |
API | American 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 |
ARA | Amsterdam-Rotterdam-Antwerp used in charterparty terms as a defined load or discharge port range. |