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The following are some of the terms and definitions, which may prove helpful in the daily dealings with oil tankers. This list is compiled from various industry sources. While extensive, it should not be considered a complete list of all vessel and charter party related terms and definitions.
N  

N/B - New building.

Net Capacity - The number of tons of cargo which a vessel can carry when loaded in salt water to her summer freeboard marks. Also called cargo carrying capacity, cargo deadweight, and useful deadweight.

Net Registered Tonnage - The internal capacity of a vessel measured in units of 100 cubic feet less the space occupied by boilers, engines, shaft alleys, chain lockers, officers' and crew quarters and other spaces not available for carrying passengers or freight. Net registered tonnage is usually referred to as registered tonnage or net tonnage.

Net Tonnage - The volumetric cargo capacity of a ship expressed on the basis of 100 cubic feet to the ton. On passenger vessels it also includes space used by passengers.

Norske Veritas - Norwegian classification society.

Notice of Readiness (NOR) - Notice served by the Master to inform the terminal/charterer the vessel is ready in all respects to load or discharge cargo.