Words & Expressions
Public limited company in Norway.
Brake Horse Power, measure of engine power.
A tug's pulling power in tonnes.
Use of one vessel for one year.
Chief Executive Officer.
Chief Financial Officer.
The company paying for the assignment.
Charter- party (CP)
Contract for hiring a vessel.
Construction Subsea Vessel
Det Norske Veritas. Classification company. Controlling and approving the vessels technical condition, security and quality according to the company's own rules and the national laws.
Dynamic Positioning system: Used to hold a vessel and/ or other floating installations in an exact position.
Dead Weight Tonnes. The vessel's carrying capacity measured in tonnes of cargo and supplies.
Operating profit before depreciation.
The company code (ticker) at the Oslo Stock Exchange.
Gross Domestic Product.
International Financial Reporting Standards.
International Maritime Organization- The UN's advisory committee.
Isle of Man.
International Ship and Port Facility Security code. International framework to detect/ assess security treaths and take preventive measures against security incidents affecting ships or port facilities used in international trade.
International Safety Management code.
International Standards Organization.
Jackup drilling/ production platform.
London Interbank Offered Rate
Injuries that result in absence from work beyond the day or shift on which it occurs.
Lost Time Injuries (Number of injuries per million of hours worked).
Norwegian International Ship Register.
Norwegian Ordinary Ship Register.
Offshore Subsea Construction Vessel.
Offshore Service Vessels.
Remotely Operated Vehicles: submarine unit used for inspections and maintenance work.
Semi submersible drilling/ production platform.
Rates for single assignments based on the current market situation.
To Be Named.
United Nations Global Compact.
Value Adjusted Equity