All terms

Shipping & logisticsnor

NOR

Notice of Readiness — the master's declaration that a vessel is ready to load or discharge.

The Notice of Readiness (NOR) is the vessel master's formal declaration that the ship is in all respects ready to load or discharge. Laytime counting starts from a defined trigger off NOR tendering.

Related: Laycan, Demurrage.

Frequently asked

What does NOR mean in oil and commodity trading?
Notice of Readiness — the master's declaration that a vessel is ready to load or discharge.
How do I check a counterparty that uses NOR in a deal?
The term itself is not enough to clear or condemn a deal. What matters is the counterparty behind the pitch. Screen that name for free against 8 sanctions lists plus PEP and OilFlow's first-party cluster corpus in seconds, or order the full 7-step dossier for $25, and confirm identity documents and banking details independently before you transact.

See also

laycandemurrage

Seen this term in a live pitch?

These terms show up in real deal pitches — some legitimate, some not. OilFlow screens the counterparty behind the pitch against 8 sanctions lists + PEP and a first-party-investigated fraud-cluster corpus, with a clearance verdict in under 30 seconds.