Management agreement. This expression may be connected with the chartering of tankers by the major oil companies on long-term demise charters, combined with a so-called “Management Agreement”.

MEES (Middle East Emergency Surcharge). After 2 August 1990 when Iraq invaded Kuwait, and after the commencement of the Persian Gulf “war” against Iraq’s invasion, the situation in the Middle East became very dangerous for liner vessels (and other ships).

Metacentre. This is the point where the buoyancy force up through the vessel’s centre of buoyancy (B) when the vessel is inclined cuts the original line of force upwards through the original B when the vessel is upright.

 

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