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1.
Agent: (1) short form for Freight Agent. (2) a
person, association or corporation authorized to publish
and file rates and provisions for a carrier's account
in tariffs published in the agent's name.
2.
Arrival Notice: Documentation that notifies the
consignee of arrival information of the goods and
freight charges due.
3.
Bill of Lading: Official legal document signed
by the captain, agents, or owners of a vessel, furnishing
written evidence of the quality and quantity of cargo
for the conveyance and delivery of merchandise sent
by sea to a specific destination. It represents ownership
of cargo, negotiable document to receive cargo and
as contract for cargo between shipper and carrier.
4.
Booking: Act of recording arrangements for the
movement of goods by vessel.
5.
Bunker Adjustment Factor (BAF): Surcharge assessed
by carrier applied to freight rates to supplement
unexpected rise in fuel costs.
6.
Consignee: Person or firm to whom articles are
shipped (i.e. customer).
7.
Cost, Insurance and Freight (CIF): Terms of sale.
Seller quotes a price including cost of goods, insurance
and transportation charges to the named point of destination.
8.
CAF: Cost, Assurance, and Freight or Currency
Adjustment Factor, which is used to adjust ocean freight
because of currency fluctuations.
9.
Demurrage: Compensation for delay in removing
cargo from terminal facilities.
10.
ETA: Estimated Time of Arrival
11.
ETD: Estimated Time of Departure
12.
FCL: Full Container Load - Containers are charged
a specific rate for ocean transit regardless of their
(lack of) contents. A full container will thus offer
a better price per unit shipped than will a LCL.
13.
Feeder: The transportation vehicle utilized to
relay cargo from the mother vessel to ultimate destination
or from first receipt port to mother vessel.
14.
FOB: Free On Board
15.
Genset: Generator sets which supply power to refrigerated
containers when no external source is available.
It is used to regulate temperature in a reefer container;
can be on its own power or plugs provided on pier/vessel.
16.
Harmless Chemicals: A cargo description, which
is a contradiction of terms. A chemical is a substance
and whether it is harmless or not, depends on the
context in which the substance appears or is used.
17.
Inland Haulage: Transportation company hauling
imports or exports between ports and inland points.
18.
Less Than Container Load: Otherwise also known
as LCL. Common term for an amount of goods to be shipped
which do not fill an entire container. Ocean rates
for LCL are commonly higher on a per-unit basis than
for a full container load. Thus, consolidation of
several LCL loads from different places or shippers
into a full container can save on costs.
19.
Manifest: An invoice of all cargo loaded on board
a vessel. Entire listing of all cargo on board a vessel
as required by the relevant local authorities, e.g.
customs.
Same as Cargo Manifest.
20.
Mother Vessel: Main ocean vessel in a liner service
designated to move containers from set origin points
to set destination points on a regular basis.
21.
Notify Party: Company/Person who appears on the
Bill of Lading as to be notified when the cargo arrives
at destination. Could be different from the consignee
- usually the actual receiver of the goods.
22.
Out of Gauge: Cargo, which exceeds the internal
dimensions of the container in width, length, or height.
23.
Shipper: Group, company, person designated on
the Original Bill of Lading who sold the cargo to
ultimate receiver of goods.
24.
Surcharges: Additional charges above ocean freight.
25.
TEU: Twenty-foot Equivalent Unit. An older measure
of container capacity, still used by some publications
such as the Journal of Commerce. 1 FEU = 2 TEU.
26.
THC: Terminal Handling Charge. It is the charge
assessed by the terminal for the positioning of cargo
within terminal/yard.
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