sea conditions

Goods can be transformed/ stored within zones until exit where duties then become liable for payment. The time allowed for loading/ unloading containers/ equipment before demurrage or detention charges apply. A vessel used to connect with a mother vessel to service a port not called at by the mother or line vessel.

Refers to a with two or three portholes on the top and discharge hatches in the doors; allows the container transport of free-flowing bulk commodities such as grain, iron ore and coal. Goods that are shipped loose – not in packages or containers (e.g. grain, coal, sulfur). A sudden movement in navigation, when the ship, while scudding before the wind, accidentally turns her leeward side to windward.

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Customs bond is a guarantee from a company to a government that the importer will faithfully abide by all laws and regulations governing the importation of merchandise into the country. The Bill of Health is the certificate issued by local medical authorities indicating the general health conditions in the port of departure or in the ports of call. The Bill of Health must have been communicated before departure by the Consul of the country of destination. It is the result of vertical forces acting on a ship because of local differences between weight and buoyancy.


Sulphur Emission Control Areas or Emission Control Areas are sea areas in which stricter controls were established to minimize airborne emissions from ships as defined by Annex VI of the 1997 MARPOL Protocol which came into effect in May 2005. Annex VI contains provisions for two sets of emission and fuel quality requirements regarding SOx and PM, or NOx, a global requirement and more stringent controls in special Emission Control Areas . These regulations stemmed from concerns about the contribution of the shipping industry to «»local and global air pollution and environmental problems.»» By July 2010 a revised more stringent Annex VI was enforced with significantly tightened emissions limits. South Europe Conference charge incurred when the shipper is not able to deliver cargo directly alongside the vessel. The carrier may assess its expenses in moving cargo from the shipper’s point of delivery to the vessel.

Aligning with nation’s objective of climate change and net zero aspirations, your Company is exploring investment opportunities in the renewable energy domain. Further, in order to enhance RE portfolio from ~130 MW, GAIL has been scouting for opportunities through both organic as well as inorganic routes. Capability strengthening in new business areas and succession planning model is given priority to ensure that your Company holds a competitive advantage over its competitors. Your Company recognizes the role of Natural Gas in India as a transition fuel in terms of cost competitiveness, efficiency and environment fuel and is aligned with Government of India initiative pertaining to climate change and net zero emissions.

Terminal Handling Service-Origin

Outsourcing of production/ sourcing that is in a country close to the domestic market of the contracting company. Physical placement of cargo within a container, truck or on a vessel/ aircraft or other means of transport. A freight shipping rate of the loading goods into the ship in the logistics terms that includes in the freight rate, whereas unloading is not. Marrying 2 or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. The Harmonized Commodity Description and Coding System, is an internationally standardized system of names and numbers to classify traded products.

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Further, the Government of India, vide its order dated 21stMarch, 2016, has notified guidelines on marketing including pricing freedom for the gas produced from discoveries in deep water, ultra-deepwater, and high pressure-high temperature areas. As per the guidelines, the Government has decided to ensure freedom of pricing for gas produced in these fields up to a ceiling price level calculated by taking a lower of the twelve-month average of landed price of imported fuel oil, substitute fuels, and LNG. Your Company earns the marketing margin on the sale of domestic natural gas. Further, the Government of India, in its notification dated 24th December, 2015, applicable from 18th November, 2015, has put a ceiling on the marketing margin for the supply of domestic gas to fertilizer and LPG producers to Rs. 200 per 1000 SCM. Past several years, GAIL undertook various deals including time swap transactions and third-party sales on a FOB basis to de-risk the LNG portfolio.

Change of Destination

A facility where freight shipments are consolidated or de-consolidated and staged between transport legs. A CFS is typically located in proximity to an ocean, port, or airport, where cargo containers are transported to and from. A document issued by a government entity on behalf of an exporter stating that specified goods comply with the laws of the exporting country for distribution in that country’s commerce. A certificate of free sale provides assurance to the country of import that the imported goods meet the country of export state, provincial and national requirements for sale. Certificates of free sale are typically issued for food products, dietary supplements, drugs, cosmetics and medical devices.

A freight booking made by a shipper or freight forwarder to reserve space but not actually having a specific cargo at the time the booking is made. Carriers often overbook a vessel by 10 to 20 percent in recognition that ‘windy booking’ cargo will not actually ship. A document prepared by a transportation line at the point of a shipment; shows the point of origin, destination, route, consignor, consignee, description of shipment and amount charged for the transportation service. A waybill is forwarded with the shipment or sent by mail to the agent at the transfer point or waybill destination. A clause in marine insurance policy whereby the underwriter agrees to cover the goods while in transit between the initial point of shipment and the point of destination, with certain limitations, and also subject to the law of insurable interest. When it was first introduced, the warehouse-to-warehouse clause was extremely important, but now its importance is diminished by the marine extension clauses, which override its provisions.

Your Company, largely imports LNG, capital goods and stores & spares for various new projects, and operation & maintenance. It has also taken loans in foreign currency for meeting the capex requirement and making overseas investments. The loan portfolio is fully hedged by way of derivative products and through the natural hedge from the foreign currency inflows. Your Company has an approved Foreign Currency & Interest Rate Risk Management Policy to manage foreign exchange exposure which has been reviewed during the FY.

Admiralty law also covers many commercial activities, although land-based or occurring wholly on land, that are maritime in character. Your Company currently markets natural gas purchased from domestic and international sources. The Government of India, vide its order dated 25th October, 2014, had notified the New Domestic Natural Gas Pricing Guidelines, 2014. As per the notification w.e.f. 1st November, 2014, the gas price is determined bi-annually as per a specific formula, which in essence, is a twelve-month average price of natural gas traded in the major hubs worldwide.

Internal financial controls framework and Risk Control Matrix for various business processes is in place and reviewed continuously by the management. In addition, it also ensures compliance of all applicable laws and regulations, optimum utilization and safeguard of the Company’s assets. Your Company uses a structured ‘Top-down’ and ‘Bottom-up’ approach for managing risks.

The feedback from the various forms of consultation is fed into the materiality determination process. Management framework with the vision to integrate risk management with its overall strategic and operational practices. The Company has formed a Risk Management Committee of the Board and its role is as specified in SEBI LODR Regulations. The primary objective is to ensure sustainable and stable business growth supported by a structured approach to risk management. The ERM framework includes designing, implementing, monitoring, reviewing and constantly improving the risk management procedures for the organisation.

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Commerce in goods, services, or information that takes place between business enterprises. Contrast to the exchange of goods, services, or information between businesses and private individuals (business-to-consumer or B2C). A process that identifies and evaluates the potential effects (financial, life/safety, regularltory, legal/contractual, reputation etc) of natural and made-made events on business operations. Adjustment applied by shipping lines to offset the effect of fluctuations in the cost of bunkers. Also known as Bunker Contribution or BUC, and also Fuel Adjustment Factor, or FAF. Cargo-securing devices mounted in a floor of containers that allow lashing and securing of cargo.

Discharge Port

Your Company firmly believe in integrating ESG in our value chain and contribute to creating a better world for the next generation. Your Company believe that sustainability is at the core of its business strategy and it helps us to create long term value for our stakeholders. The Corporate Occupational Health Committee meets every quarter to monitor the occupational health programme and its effectiveness is evaluated based on the outcome of the health audit undertaken via in- house multi-disciplinary teams. As on 31st March, 2022, your Company had 4754 (including Whole-time Directors and CVO) employees on its roll. Your Company understands that human capital is essential to strategic performance. Bringing human capital into the mainstream of business, decision-making means an efficient allocation of human resources.

letter of credit

Ullage is often used to leave room for possible expansion of the liquid. Reference to Standard Trading Terms which outline the general position of our company regarding the conduct of its services and limitations of liabilities in specific circumstances. A contract or addendum between the client and service provider that specifies in measurable terms the type, quantity and quality of the services the service provider will provide. A quarterly meeting with a key customer to discuss operational and business improvements and ways forward.

The what happens if my annuity company goes bankrupt risk of natural gas used for internal consumption and as well as for selling to various downstream customers is being monitored as per the approved Policy. As and when the opportunity arises in the market, your Company has undertaken various derivative transactions to hedge the price risk arising out of fluctuation in the prices of imported Natural Gas. GAIL is interacting with various Indian industry associations including FIPI, CII, FICCI, CSE, TERI NITI Aayog etc. GAIL has been consistently engaged with global associations like International Gas Union, World Bank on Sustainable energy policy and reforms required in the gas sector. GAIL also regularly interacts with PNGRB, the regulatory body to update them on the current status and industry viewpoint. Bodies for carrying forward natural gas advocacy and market development in India.

GAIL has emerged as one of the leading global LNG players and is actively involved in the LNG trading business in the international market. Your Company is part of a consortium in two offshore E&P blocks (A-1 & A-3) in Myanmar. Around 14 MMSCMD of gas is being produced from these blocks and supplied to China and Myanmar through South East Asia Gas Pipeline Company Limited , in which GAIL is also an equity partner. GAIL’s Branch Office in Myanmar is scouting for business opportunities in Myanmar and other South East Asian countries, in the areas of the gas value chain and beyond. Your Company is the Government of India’s nominee in the Turkmenistan-Afghanistan-Pakistan-India natural gas project for import of gas to India from Turkmenistan. TAPI Pipeline Company Limited has been incorporated in Isle of Man to build, own and operate the TAPI Pipeline.

In parallel, your Company has also optimized LNG sourced from the US through destination swap transactions to optimize the cost of shipping LNG to the Indian ports resulting inefficient management of the portfolio. The project with an estimated cost of around Rs. 13,277 crore is envisaged to produce 2,200 MTPD Ammonia and 3,850 MTPD Urea. OGE Energy Corporation share price live 37.54, this page displays NYSE OGE stock exchange data. View the OGE premarket stock price ahead of the market session or assess the after hours quote. Monitor the latest movements within the OGE Energy Corporation real time stock price chart below.

A favourable position over another sailing vessel to with respect to the wind. An agreement allowing merchandise that has been withdrawn from a bonded warehouse at one US port to be exported from the same port without paying duty. The reference number assigned by the carrier or his agent to the voyage of the vessel. The journey of cargo consignment from its origin to final destination.

Service Agreement

The removal of a shipment from a container to a platform or warehouse. The consolidation of a quantity of individual items into one large shipping unit for easier and faster handling through methods such as palletizing, stripping, slinging and containerization. Free space above a liquid contained in a tank, drum or tank-container, expressed as a percentage of the total capacity.

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Digital co-operation on platforms is helping in creating a database which could be used for big data analytics-based solutions to support better planning and optimization. Your Company is currently authorized to operate in 67 Geographical Areas throughout India including major metro cities of Delhi, Mumbai, Hyderabad, Bengaluru, Kolkata, etc. These CGD networks together cater to around 67% of the total 93.02 lakh Domestic PNG connections in the country. Out of the total 4,433 CNG stations in the country, GAIL group operates 2,030 CNG stations representing 46% share. This year, your Company along with its JVs and subsidiaries has achieved a record PNG connection of more than 11.50 Lakh households last year. India is planning a network of Liquefied Natural Gas fueling stations along its 6,000-km-long golden quadrilateral highways, a move that would encourage thousands of truckers to switch to the cleaner fuel from polluting diesel.


The pipeline, when constructed, is expected to carry 90 MMSCMD of natural gas, of which India will receive 38 MMSCMD. The project is currently under the pre-FID stage, wherein various activities are being undertaken by TPCL. Admiralty law is a distinct body of law which governs maritime questions and offences. It is a body of both domestic law governing maritime activities, and private international law governing the relationships between private entities which operate vessels on the oceans. It deals with matters including marine commerce, marine navigation, shipping, sailors, and the transportation of passengers and goods by sea.

LPG marketing is decided in close coordination with the PSU Oil Marketing Companies. Continuous measures are taken towards managing margins across your Company’s range of products. Green Hydrogen is a renewable energy based alternative fuel for meeting Hydrogen requirements in fertilizer production and petroleum refining.

With Integrated Management System (Quality Management System, Environment Management System and Occupation Health & Safety Management System) Certifications, your Company is committed towards maintaining and ensuring a safe and clean environment. Being a flagship energy company, your Company is committed to play a key role in building a sustainable energy future for the country. Your Company has a Corporate HSE as well as Sustainable Development Policy to prevent environmental degradation and aims to continue growing in a sustainable manner to the benefit of our Communities, Environment and Stakeholder at large. Sustainability Steering Committee supports the Sustainable Development Policy directives, and they are accountable for executing the company’s sustainability ambitions and management of relevant risks and performance. Your Company by virtue of its business in Natural Gas plays an instrumental role in transitioning towards a low-carbon economy. It also emits greenhouse gases with a lower life cycle into the atmosphere.

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