In proportion to the value

The term used when a vessel hits a fixed object, the vessel is always assumed to be at fault in this case

The front of a vessel

The term used when a vessel is overturned or turned on it’s side

The 100th anniversary (or the celebrating of it)

The term used when two vessels hit

Declared upon vessel damage, whereupon shippers pay a certain percentage of damage incurred: carrier declares percentage of responsibility by all participants.

A vessels overall internal volume

Her Majesty’s Ship

Unit of speed equal to one nautical mile per hour (approx 1.151mph)