Tuesday, June 18, 2024
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Glossary of Trade & Shipping Terms - H

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  • Hard Currency - The currency of a nation which may be exchanged for that of another nation without restriction. Sometimes referred to as convertible currency. Hard currency countries typically have sizeable exchange reserves and surpluses in their balance of payments. See: Soft Currency.
  • h - Hour
  • H. & M. - Hull and machinery
  • h. & o. - Hook and oil damage
  • H.A. or D. - Havre, Antwerp or Dunkirk Harbor
  • H.P.N. - Horse-power nominal
  • H.S.S.C. - Heating, sweating and spontaneous combustion
  • H.T. - Half-time survey
  • H.W.D. - Heavy weather damage
  • H.W.M. - High water mark
  • H.W.O.S.T. - High water ordinary spring tides
  • h/c - Held covered (insurance)
  • H/H - Havre to Hamburg
  • ha - Hectares
  • Harmonized System - The Harmonized Commodity Description and Coding System (or Harmonized System, HS) is a system for classifying goods in international trade, developed under the auspices of the Customs Cooperation Council. Beginning on January 1, 1989, the new HS numbers replaced previously adhered-to schedules in over 50 countries, including the United States. For the United States, the HS numbers and four additional digits are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers.
  • Harmonized System (HS) - A schedule of tariff nomenclature arranged in 6 digit codes allowing all participating countries to classify traded goods on a common basis. Beyond the 6 digit level, countries are free to introduce national distinctions for tariff or statistical purposes. This system will replace the Tariff Schedule of the United States (TSUS). The Harmonized System was implemented by the United States and other major GATT countries after Jan, 1. 1988. Additional countries are expected to be implementing the system subsequent to that date.
  • Hbr. - Harbour
  • Hearing - A hearing which is held at the request of an interested party in antidumping proceedings for the purpose of allowing interested persons to express their views orally to officials of the Commerce Department. The hearing is held prior to the Commerce Department's (International Trade Administration) final determination or before the final results of an administrative review are published. See: Tariff Act of 1930.
  • Helsinki Accord - The Helsinki Accord deals with the rights of people to migrate freely. The tourism portions of the Accord encourage: (a) tourism and tourism studies, (b) preservation of artistic, historic and cultural heritages of signatories, (c) lowering of fees and documentation needed for international travel, and (d) other efforts to encourage cooperation on tourism among countries. The Accord was signed in 1975.
  • hhd. - Hogshead
  • hk. - Hook damage
  • hold - Space below the deck of a ship that is used to carry cargo. The holds of a ship are numbered for purposes of cargo identification and location.
  • hold cleaning - Cleaning a hold after cargo has been discharged.
  • Home Market Price - See: Foreign Market Value.
  • Homologation .. of an Automobile - Homologation of an automobile is the certification by a country that a vehicle conforms to its safety and emission standards -- primarily that a vehicle has been manufactured or modified to meet a country's standards.
  • Horizontal Export Trading Company - An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are the prime examples of horizontally organized export trading companies.
  • Horn of Africa - The Horn of Africa comprises Djibouti, Ethiopia, Somalia, and Sudan.
  • hours purposes. - The time allowed by charter for the dual operation of loading and discharging the cargo
  • hp - Horsepower
  • HS - Harmonized System
  • HS - Harmonized Commodity Description and Coding System
  • HSC - Harmonized System Committee
  • HTS - Harmonized Tariff Schedule
  • HTWG - High Technology Working Group
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