| BAF |
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Bunker Adjustment Factor Freight Adjustment factor
to reflect current cost of bunkers. |
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| BOX |
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Colloquial name for container. CAF : Currency Adjustment Factor.
Freight adjustment factor to reflect currency exchange fluctuations. |
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BILL OF LADING (B/L) |
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Acts as a receipt for good, contains the terms of the contract
of carriage and is a document of title to the goods. |
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| CAF |
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Currency Adjustment Factor. Freight adjustment factor to reflect
currency exchange fluctuations. |
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| CFS |
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Container Freight station.
Place for packing and unpacking LCL consignments. Variously known
as CIB's (in U.K.), Deposts (Australia) and ICDs (U.K. & the
Indian Sub-continent |
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CONTAINER YARD |
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Collection and Distribution point for loaded FCL and empty
containers. |
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CONSORTIUM |
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A group of combined Transport operator's who agree to rationalise
sailings in a trade and carry each others containers. |
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COST & FREIGHT
(C & F) |
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A conventional/port to port INCOTERM of sales also know as CFR. |
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COST INSURANCE FREIGHT (CIF) |
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A conventional port to port only INCOTERM of sale. |
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CERTIFICATE OF ORIGIN |
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Documents certifying the country of origin of goods which is normally
of goods which is normally issue by a chamber of commerce or Embassy.
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CONFERENCE |
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Organisation of group of lines operating in one trade who agrees
to operate a common tariff. |
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DEMURRAGE |
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Charge raised for detaining FCL containerltrailor at a.CFS for
longer period than provided in Tariff. |
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DELIVERY ORDER |
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A document authorising deli very to a nominated party of goods
in the care of the third party, can be issued by a carrier on surrender
of a Bill of Lading and then used by merchant to transfer title
by endorsement. |
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DETENTION |
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Charge raised for detaining containerltrailer at customers premises
for longer period than provided in Tariff. |
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EID |
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ESTIMATED TIME OFDEPARTURE. |
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ETA |
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ESTIMATED TIME OF ARRIVAL. FAK : FREIGHT ALL KINDS. |
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FAK |
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FREIGHT ALL KINDS.
System whereby frieght is charged per container, irrespective of
nature of goods, and not according to Tariff. |
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FCL |
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FULL CONTAINER LOAD
Arrangement whereby shipper utilises all the space in a container
which he packs. |
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FREE ON BORD (FOB) : |
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A conventional/port to port only Incoterm term of sale. |
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FREIGHT |
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The amount payable for the Carriage of goods. Sometimes also
used to describe the goods themselves which are better described
as cargo in marine transportation. |
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FMC |
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FEDERAL MARITIME COMMISSION , US
Federal Authority governing sea transport |
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FEEDER VESSEL |
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A short Sea vessel used to fetch and carry goods and containers
to and from deep sea vessels. |
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| GROUPAGE |
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Conslidation of several LCL consignments in to a container. |
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IMDG CODE |
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International Maritime Dangerous Goods Code The IMO recommendations
for the carriage of dangerous goods by sea. |
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LESS THAN CONTAINER LOAD (LCL) |
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A parcel of goods too small to fill a container which is grouped
by the carrier at a CFS with other compatible goods for the same. |
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LIFT ON LIFT OFF (LO-LO) |
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A containership onto which and from which continers are lifted
by crane (as opposed to RO-RO) |
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LINER TERMS |
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Freight includes the cost of loading onto and discharging from
the vessel. |
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LETTER OF CREDIT (L/C) |
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The document in which the terms of a
documentary credit transaction are set out.
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LETTER OF INDEMNITY |
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Sometimes used to allow Consignee to take delivery of goods without
surrending BIL which has been delayed or become lost. |
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LINER |
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Vessel plying a regular tradel defined route against a published
Sailing schedule. |
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MTO |
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MULTI MODAL TRANSPORT OPERATOR |
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MANIFEST |
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List of goods on a vessel. |
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MTY CNTNR :AN EMPTY CONTAINER NVOCC |
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NONVESSELOWNING OPERATING COMMON CARRIER. A carrier issuing B/L
for goods on vessels which he neither owns nor operates. |
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PLACE OF DELIVERY (POD) |
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Where goods are delivered and Carrier's liability ceases. OR Proof
of Delivery a signed receipt acknowledging delivery. |
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PLACE OF ACCEPTANCE (POA) |
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Where the goods are received for tansit and Carrier's liability
commences. |
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RFS |
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RECEIVED FoR SHIPMENT |
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ROLL ON-ROLL OFF (RO-RO) |
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A ferry type vessel onto which goods and containers can be driven,
usually via a ramp. |
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SHIPPED ON BOARD (SOB) |
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Endorsement on a Bill of Lading Confirming loading of goods on
vessel. |
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SHUT-OUT |
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Goods not carried on intended vessel |
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SLOT |
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Space on board a vessel occupied by a container. |
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TERMINAL HANDLING CHARGES (THC) |
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A charge for handling FCLs at ocean terminals. - Also know as
a ContainerlPort Service Charge. |
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TEU |
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Twenty-Foot Equivalent Unit ego I x 40 ft - 2 TEUs I x 20ft =
I Teu |
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