Trade Glossary
Gantry crane (shipping) A specialized machine for the raising or lowering of cargo. A gantry crane is mounted on a structure spanning an open space on a ship. The hoisting device travels back and forth along the spanning structure from port to starboard while the spanning structure itself is often mounted on a set of rails, which enables it to move from front to back.
Gear & Tackle (shipping) Ship’s equipment used to level, secure and brace cargo for loading/unloading from vessel.
General Agreement on Tariffs and Trade (GATT) (trade) Both a multilateral trade agreement aimed at expanding international trade and the organization which oversees the agreement. The main goals of GATT are to liberalize and secure world trade in order to facilitate economic growth, development and the welfare of the world’s people.
General Average A maritime insurance term. All shippers help pay for damages or loss if any part of the ship or cargo is voluntarily sacrificed (thrown overboard) to save the ship and/or the rest of the cargo.
GRI (shipping) General Rate Increase.
Genset (shipping) Generator used to regulate temperature in a reefer container; can be run on its own power or plugs provided on pier/vessel.
GO (shipping) General Order. Cargo seized by Customs due to failure on part of consignee to make Customs entry within allotted free time.
GO Warehouse (shipping) A Customs warehouse utilized when cargo goes into General Order due to lack of permit/entry filed.
Goose Neck (shipping) Specialized chassis. Has hook-up higher than bed of chassis.
Grandfather clause (law) GATT provision that allows the original contracting parties to be exempt from general GATT obligations inconsistent with mandatory domestic legislation which existed before the GATT was signed.
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