Offsets

Offsets refer to the industrial compensation practices that are used in the maritime industry. These practices are used to balance the economic benefits of a particular project or contract between two countries. Offsets can take many forms, including direct investments, technology transfers, and local content requirements. In the maritime industry, offsets are often used in shipbuilding contracts, where the buyer requires the seller to invest in the local economy or transfer technology to the buyer's country as a condition of the sale. Offsets are used to promote economic development and job creation in the buyer's country, while also providing economic benefits to the seller.

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Biocide: Biocide refers to a substance or chemical agent that is used to kill, control, or prevent the growth of living organisms such as bacteria, viruses, fungi, algae, and other microorganisms in the marine environment. Biocides are commonly used ... Read More >>
Heave Around: Heave Around is a nautical term that refers to the process of turning a ship around by using a combination of tugs and the ship's own engines. This maneuver is typically used in narrow waterways or ports where there is limited space to turn ... Read More >>
Water Ingress: Water Ingress refers to the unintentional entry of water into a ship's hull or any other compartment. It can occur due to various reasons such as hull damage, leakage in pipes or valves, or even due to heavy weather conditions. Water Ingres ... Read More >>

Offsets

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