The chance that one or more hazards will cause something to happen that will have a detrimental impact upon safety. It is measured in terms of the likelihood, duration of exposure and consequences of injury, illness or environmental damage.
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MASS DISEASE
An illness preferably of an infectious nature seizing more than two persons on board at the same time
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QRA
Quality Risk Assessment
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MARINE INCIDENT
Where there is a risk or potential risk to life and property from some event that has caused concern for the safety of the Master and those on board, (with due regard to the operational status of the incident vessel)
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BUILD-OPERATE-TRANSFER
A form of concession where a private party or consortium agrees to finance, construct, operate and maintain a facility for a specific period and transfer the facility to the concerned government or port authority after the term of the concession. The ownership of the concession area (port land) remains with the government or port authority during the entire concession period. The concessionaire bears the commercial risk of operating the facility.
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BOT
A form of concession where a private party or consortium agrees to finance, construct, operate and maintain a facility for a specific period and transfer the facility to the concerned government or port authority after the term of the concession. The ownership of the concession area (port land) remains with the government or port authority during the entire concession period. The concessionaire bears the commercial risk of operating the facility.
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BUILD-OWN-OPERATE-TRANSFER
A form of concession where a private party or consortium agrees to finance, construct, own, operate and maintain a facility for a specific period and transfer the facility to the concerned government or port authority after the term of the concession. The ownership of the concession area (port land) vests in the private party or consortium during the entire concession period and is transferred to the government or port authority at the end of the concession period. As with the BOT, the concessionaire bears the commercial risk of operating the facility.
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MANAGEMENT CONTRACT
An arrangement whereby the operation and management of a facility is contracted by the public authority to a specialized operator for a specified period and under specified conditions relating to performance criteria, economic incentives, and maintenance and infrastructure commitments. The public authority retains ownership of the facility and the commercial risk associated with its operation.
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MEZZANINE FINANCING
A mix of financing instruments, including equity, subordinated debt, completion guarantees, and bridge financing, the balance of which changes as the risk profile of a project changes (that is, as a project moves beyond construction into operation).
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CONTAINER SECURITY INITIATIVE
A U.S. cargo security program whereby containerized cargoes destined for the United States may be inspected on a selective basis at many foreign ports before loading on a vessel. As of October 2007, there were 51 approved ports. A multinational program, aligned with the President's 'Strategy for Homeland Security', that extends the United States' zone of security by prescreening containers that pose a potential security risk before they leave foreign ports for U.S. seaports.
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CSI
Container Security Initiative - a U.S. cargo security program whereby containerized cargoes destined for the United States may be inspected on a selective basis at many foreign ports before loading on a vessel. As of October 2007, there were 51 approved ports. A multinational program, aligned with the President's 'Strategy for Homeland Security', that extends the United States' zone of security by prescreening containers that pose a potential security risk before they leave foreign ports for U.S. seaports.
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