said by one who is angry or frustrated in a loud angry manner, very similar to the word "shit". its also very useful to middle school aged children who would very much like to say "shit" in front of their teachers, but instead say "shipment" so they wont get punished in a negative manner. in some cases, the child or children, just like to say it because because its just plain fun to say.
teacher: You got another C on your assignment.
af rawdog 69 19. december 2009