oarlock

n.
A device, usually a U-shaped metal hoop on a swivel in the gunwale, used to hold an oar in place and as a fulcrum in rowing.

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The noun has one meaning:

Meaning #1: a holder attached to the gunwale of a boat that holds the oar in place and acts as a fulcrum for rowing
  Synonyms: peg, pin, thole, tholepin, rowlock

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