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Macroeconomics |
That part of economics that is primarily concerned with the study of relationships between broad economic aggregates, such as national income, savings, investment, consumption, employment, the money supply, the average price level, exports, imports and the balance of payments. |
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manifest |
See ‘cargo manifest’ |
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Marad |
U.S. Department of Transportation, Maritime Administration |
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Marine Insurance |
See Insurance, Marine |
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Marine Surveyor |
Person who inspects a ship hull or its cargo for damage or quality. |
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Marks and numbers |
Alphabetical letters, numbers or symbols endorsed on cargo packages to facilitate identification. |
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Marshalling yard |
This is a container parking lot, or any open area where containers are stored in a precise order according to the ship-loading plan. Containers terminals may use a grounded or wheeled layout. If the cargo box is placed directly on the ground, it is called a grounded operation. If the box is on a chassis/trailer, it is a wheeled operation. |
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Master |
The officer in charge of the ship. ‘Captain’ is a courtesy title often given to a master. |
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Mate’s Receipt |
An archaic practice. An acknowledgement of cargo receipt signed by a mate of the vessel. The possessor of the mate's receipt is entitled to the bill of lading, in exchange for that receipt. |
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MBM |
1,000 board feet. One MBM equals 2,265 C.M. |
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MCO |
Miscellaneous Charges Order – issued by airlines |
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MFN |
Most Favoured Nation – a tariff term used to grant preferential treatment to a country. |
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Mishandled baggage |
Baggage involuntarily, or inadvertently, separated from passengers or crew. (ICAO Annex 9) |
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MITI |
A frequently used acronym designating Japan's Ministry of Trade and Industry, which has adopted, for some years, a comprehensive economic growth and development strategy, centring on export expansion. |
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Money laundering |
the process by which the illegal source of proceeds is concealed by means of financial transactions or any other means to make it appear legitimate. (WCO) |
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MT |
Metric ton or 1000 kgs |
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MRTD |
Machine Readable Travel Document |
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Multilateral |
An agreement/arrangement among a large number of parties/countries, usually global (eg WTO with 145 Contracting Parties, WCO with 161 member countries) |
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Mutatis Mutandis |
Phrase signifying ‘the necessary changes having been made’; ‘substituting new terms.’ |
