Glossary

OECD

The Organisation for Economic Co-operation and Development (OECD) is a forum where the governments of 30 market democracies work together to address the economic, social and governance challenges of globalisation as well as to exploit its opportunities. The Organisation provides a setting where governments can compare policy experiences, seek answers to common problems, and identify good practice andco-ordinate domestic and international policies. It is a forum where peer pressure can act as a powerful incentive to improve policy and implement “soft law” – non-binding instruments such as the OECD Corporate Governance Principle– and on occasion leads to formal agreements for treaties. The various exchanges among OECD governments come from information and analysis provided by a Secretariat that is located in Paris, France. The Secretariat collects data, monitors trends, and analyses and forecasts economic developments. It also researches social changes or evolving patterns in trade, environment, agriculture, technology, taxation and more.

Operator (Ship)

An owner or operator of ships that enters into a contract with a shipper for the transportation of goods.

OPRC

Oil Pollution Preparedness, Response and Co-operation 

Owner (Ship)

The registered owner of a vessel who can charter the vessel out to others.