Shipping Glossary
| GATT |
Abbreviation for "General Agreement on Tariffs and Trade." A multilateral
treaty to help reduce trade barriers between the signatory countries
and to promote trade through tariff concessions. The World Trade
Organization (WTO) superseded GATT in 1994.
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| Gantry Crane |
Port crane used to load and discharge containers from vessels,
can be positioned by moving along rail tracks.
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| Garment-on-Hanger (GOH) |
Method of storing apparel in containers for garments that should not be folded.
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| GDSM |
Abbreviation for "General Department Store Merchandise." A classification
of commodities that includes goods generally shipped by mass-merchandise companies.
This commodity structure occurs only in service contracts.
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| General Average |
General Average is defined in the York-Antwerp rules as: There is a General Average act when, and only when,
any extraordinary sacrifice 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. When a cargo ship encounters a serious accident at sea,
e.g. grounding,
the vessel owners may have to incur additional costs to salvage the ship and its cargo, and may resort to declaring General Average.
General Average requires that all parties with an interest in saving ship, the cargo, etc.
share proportionately the cost of saving the common adventure. This means that cargo owners would be responsible a proportion of the costs equal
to the proportion of the value of the cargo to the common adventure.
General Average is applied according to an internationally acknowledged set of rules,
the York-Antwerp rules.
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| GRI |
Abbreviation for "General Rate Increase." Used to describe an across-the-board
tariff rate increase implemented by carriers.
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| Groupage |
A consolidation service, putting small shipments into containers for shipment.
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