Glossary of Shipping Terms
acceptance letter of credit
A letter of credit that requires presentation of a time draft drawn by the bearer upon the issuing bank or another bank.
act of God A violent act of nature such as lightning, flood, earthquake, or hurricane that man can neither cause nor prevent.
ad valorem duty A duty calculated on the basis of value. Usually a percentage of the value.
advised credit A letter of credit whose terms and conditions have been notified to the beneficiary by an advising bank on behalf of the issuing bank. The advising bank does not thereby commit itself to pay or guarantee the payment of the letter of credit.
advising bank A correspondent of a bank that issues a letter of credit and, on behalf of the issuing bank, notifies the beneficiary of the terms of the credit without engagement on its part to pay or guarantee the credit.
aft In, toward, or close to the stern (rear) of a vessel or the rear of an aircraft or spacecraft.
air cargo Property of any kind, excluding passenger baggage and mail, that is transported by aircraft.
air express Expedited air freight service.
air parcel post Parcels shipped through the mails to be transported by air.
airway bill The shipping document used for the transportation of air freight, which includes: conditions, limitations of liability, shipping instructions, description of commodity, and applicable
transportation charges. It is similar to a straight non-negotiable bill of lading and is used for similar purposes.
all-cargo aircraft Aircraft used for the sole purpose of transporting cargo or mail.
amidships The area of an ocean vessel midway between the bow (the front) and the stern (the rear). When the term applies to an airplane, it is midway between the nose and the tail.
antidumping duties
Additional duties assessed on imported goods sold to an importing country at a price that is less than fair value, (fair value
usually defined as the price on the exporting country's domestic market or to third countries) and are found to cause or threaten material injury to industry of the importing country.
apron 1. Area of the airport where planes are parked. May be used for loading and unloading of aircraft.
2. Area along the waterside edges of a pier, not under cover, used for loading and unloading of vessels.
B
bank acceptance A draft drawn on and accepted by a bank
bank guarantee An indemnity letter in which the bank commits itself to pay a certain sum if a third party fails to perform or if any other form of default occurs.
Example: Used when a bank wants a carrier to release a
shipment that it has financed, but the original bills of lading is not yet available for surrender to the carrier.
bank release A document issued by a bank that is the consignee of a shipment authorizing a carrier to deliver a shipment.
banker's draft A draft payable on demand and drawn by, or on behalf of, a bank upon itself or upon another bank such as a foreign bank, where it maintains an account or a relationship.
bank acceptance A draft or bill of exchange drawn upon and accepted by a bank.
bareboat charter The charter of a vessel in which the charter party has the right to use his own master and crew on the vessel and pays all operating expenses.
barge A flat-bottomed cargo vessel primarily used on rivers and canals usually towed or pushed, but it may be self-propelled.
barter Trade of goods or services without money.
basing rate A freight rate used for the sole purpose of determining other freight rates.
beneficiary An individual or company entitled to draw or demand payment under the terms of a letter of credit.
berth Docking space where a ship is anchored.
bill of lading A document issued by a carrier to a shipper, listing and
acknowledging receipt of goods and specifying terms of delivery.
billed weight Designated weight shown on the freight bill used to calculate the freight charges.
blanket rate A rate of premium for insurance applied across the board where there is more than one kind of property to be insured.
bond 1. A written agreement to perform or refrain from performing specified acts, usually guaranteed by a third party.
and usually specifying a rate of interest and its dates of periodic payment.
bond of indemnity A bond to indemnify (insure; protect against damage, loss, or injury) the party to whom the bond is issued.
bonded Refers to goods which are held, stored, or transported under circumstances where applicable duty or taxes have not been definitely determined or paid and admissibility has not been arranged. Bonds must be posted by those responsible for the goods during this period (the carriers, warehouses, and/or importers) to indemnify the government if the goods are released improperly.
bonded terminal A terminal approved by Customs for temporary storage of imported goods until Customs duties are paid or goods released. Bonds must be posted by the terminal operator to indemnify the government if the goods are released improperly.
bonded
warehouse (USA)
An approved private warehouse used for the storage of goods until duties or taxes are paid and the goods are properly released by Customs. Bonds must be posted by the warehouse proprietor and by the importer to indemnify the government if the goods are released improperly.
booking Arrangements made for a shipment with representatives of a vessel or airline.
break bulk 1. Description of a ship that transports cargo carried in its hold that is usually packed in cases, bales, cartons, drums, carboys, etc. rather than in containers.
2. Unload packaged cargo from a 'break bulk ship' or from a container and distribute it.
break bulk cargo Cargo that is shipped in packing units such as cartons, cases, crates, bales, or drums, but not containerized.
broker One that acts as an agent for others, as in negotiating contracts, purchases, or sales in return for a fee or commission.
bulk cargo Cargo consisting of an unpacked commodity such as grain, oil, and ore.
bulk carrier A vessel that carries bulk cargo
bulk freight Cargo not in packages or containers.
bunker
adjustment factor
An adjustment in shipping charges to offset price fluctuations in the cost of bunker fuel.
bunker fuel Fuel used to power a ship
C
cargo Freight carried by ship, an aircraft, or another vehicle.
cargo agent An agent appointed by an airline or shipping line to solicit and process international air and ocean freight shipments.
cargo manifest A list of cargo being transported or warehoused.
cargo tonnage The weight of a shipment or of ship's total cargo expressed in tons.
carrier A legal entity that is in the business of transporting passengers or goods for hire.
chargeable weight The weight or volume of a shipment used in determining freight charges.
charter service Temporary hiring of an aircraft or vessel for the transportation of cargo or passengers.
chartered ship A ship leased for a stated time, voyage, or voyages.
chassis 1. A special trailer or undercarriage on which containers are moved over the road.
2. The undercarriage of a vehicle.
claused bill of lading
An added clause on a bill of lading that denotes a deficient condition of the goods or packaging, or other annotated conditions, which modifies the printed conditions on the Bill Of Lading.
clean bill of lading A bill of lading issued by a carrier for goods delivered in "apparent good order and condition" that bears no notations or added clauses that may limit the liability of the carrier.
clearance 1. Compliance with governmental requirements that allow a carrier to berth in a port to unlade or lade cargo and passengers.
2. Compliance with customs formalities that allow goods to be imported or to be exported.
closed-end
transaction A credit transaction with a fixed amount of time for repayment.
combination aircraft
An aircraft capable of transporting both cargo and passengers on the same flight.
combined bill of lading
A bill of lading covering a shipment of goods by more than one mode of transportation.
commercial invoice
between a seller and buyer from different countries, it also indicates the type of currency.
commercial letter of credit
An a letter or document issued by a bank to provide credit for a customer that enables him to finance the purchase of goods or to meet other commitments.
commodity code The system of identifying a commodity by an assigned number.
connecting carrier A carrier that has a physical connection with another carrier or forms a connecting link between two or more carriers.
consignee The person or firm named in a freight contract to whom goods have been shipped or turned over for care.
consignor An entity that ships goods to another. The consignor on a bill of lading is the shipper.
consolidated container
A shipping container that contains cargo from various shippers for delivery to various consignees.
consolidation The combining of smaller shipments into a single shipment.
consular invoice An invoice for a shipment of goods that is certified by the counsel of the country for which the merchandise is destined and which may require a special form and be subject to special fees.
contract carrier Excluding common carriers, any person who under contract will transport passengers or goods for an agreed compensation.
customs 1. A duty or tax imposed on imported and, less commonly, exported goods.
2. The governmental agency authorized to collect custom duties/taxes.
3. Procedure for inspecting goods and baggage entering a country.
D
dangerous goods Goods that can pose a health or safety risk.
date draft A draft which matures after a specified number of days from the date it is issued.
deadweight 1. The maximum weight that a ship can carry so that it settles in the water to its Plimsoll mark; also measurable by the weight of the water the vessel displaces when fully loaded less the displacement when it was unloaded.
2. Cargo of such high density that a long ton (2240 lbs.) can be stowed in less than 70 cubic feet.
deck cargo Cargo shipped on the deck of a vessel rather than in its hold.
carriage purposes of determining charges and establishing the liability of the carrier.
declared value for customs
The value of a shipment according to the customs laws of the destination country that is required to be declared by the shipper on the shipping documents or by the importer when he presents the goods for customs clearance.
deferred air freight
Less urgent freight that can be delivered on later flights more convenient for the airline at lower tariffs.
deferred payment letter of credit
A letter of credit that allows the buyer to take possession of goods by agreeing to pay the issuing bank or the confirming bank at a fixed future date.
delivery order A document from the consignee, shipper, or owner of freight ordering the release of freight to another party.
demurrage 1. In international transportation, a charge for the failure to remove cargo from a terminal within the allowed free time. Also, a charge for failure to load or unload a ship within the allowed period. 2. (USA) In domestic transportation, a penalty charge against users for use of carriers' equipment beyond the allowed free time.
destination The place to which a shipment or person is going.
discharging Unloading cargo from a carrier or contents from a container.
dock 1. Loading or unloading platform at an industrial location or carrier terminal.
2. A ship's berth or wharf.
dock receipt A receipt issued by a vessel agent that certifies that goods have been received.
domestic exports Exports of goods which were grown, produced, mined, or manufactured in the country from which exported.
door-to-door Shipping service from shipper's door to consignee's door.
drayage The charge made for hauling freight via carts, drays, or trucks.
dry cargo Cargo of solid, dry material, not liquid or gas. Usually, the term excludes cargo requiring special temperature controls.
dumping The sale of goods in a foreign country at less than" fair value" (a price lower than that at which it is sold within the exporting country or to third countries), which materially injures, or threatens to materially injure, that industry in the foreign country.
dunnage Materials placed around cargo to prevent shifting or damage while in transit.
However, most foreign governments do not have this restriction.
E
embargo Government prohibition of exports or imports with respect to specific products or specific foreign countries.
en route Goods, passengers, or vessels in transit.
entrepot A storage facility (often in an intermediate country) where goods are kept and distributed.
entrepot trade The import and export of goods that receive no further processing but are distributed from the entrepot facility, which is usually chosen for its location and lack of restrictions on trade.
entry documents Documents required to complete customs entry so as to secure the release of imported merchandise.
ETA Estimated time of arrival.
ETD Estimated time of departure.
Ex Factory A sale term where the title to goods passes from the vendor to the buyer when they leave the vendor's dock, as does the liability for loss or damage and the expenses of shipment. Is still widely used, but is being replaced by the Incoterm EXW (Ex Works). See
Incoterms.
excise tax Internal tax on the manufacture, sale, or consumption of goods, licenses to pursue certain occupations, and corporate privileges.
expedited Accelerating the movement of shipments through regular channels.
export To send or transport goods abroad.
export declaration (USA)
The Shipper's Export Declaration is a required customs document for exportation of goods from the United States, which provides statistics and facilitates control where applicable.
export duty A tax imposed by a nation on their exports.
export license A license issued to exporters by a government to permit them to export goods to other countries. Such goods may be of strategic importance, or simply in short supply, or are controlled to comply with foreign agreements.
exporter An individual or company that ships goods from one country to another in the course of trade.
exporter identification
number (USA) Declaration for all shipments from the USA..
F
feeder vessel 1. A short-sea vessel that is part of a cargo network that transfers cargo from smaller ports to major ports where larger vessels dock. This spares larger vessels the expense and loss of time loading and unloading at smaller ports.
FEU Forty foot equivalent units of shipping containers; two 20 ft containers = 1 FEU.
flag A reference to the country of registry of a vessel.
force majeure Superior or overpowering force or unexpected or uncontrollable event, which cannot be avoided by the exercise of due care and is included in contracts to excuse parties from performance when such events occur.
foreign bond An international bond, usually denominated in the currency of the country where it is issued.
foreign flag The national identification of a carrier registered in a foreign country. A vessel flies the national flag of the country in which it is registered, which may not be the country of the carrier's owner.
free in and out (FIO)
A pricing term indicating that the vessel operator is responsible for the cost of loading and unloading.
free market A market with unrestricted trading of goods, where the prices of goods are determined by supply and demand. Internationally, an unrestricted movement of goods, unhampered by the existence of tariffs or other trade barriers.
free time That length of time that a carrier's equipment can be used without incurring additional charges. (See Storage, Demurrage, or Per Diem.)
free zone A designated area at a port or city where goods may be received and held without the payment of duty.
freight 1. Goods transported by a commercial carrier. 2. Charge for transporting goods.
freight forwarder A business that acts as an agent on behalf of a shipper. A freight forwarder frequently prepares necessary documents and makes all the arrangements to ship the goods.
G
GBL Government Bill of Lading.
general cargo vessels
A vessel that carries break-bulk cargo such as bags, cartons, cases, crates and drums, either individually or in unitized or palletized loads.
go-down (Far
East) A warehouse where goods are stored and delivered.
GRI General Rate Increase. An across-the-board tariff increase implemented by conference members and applied to base rates.
gross tonnage Applies only to vessel (0.2+0.02 log10V) where V is the volume in
cubic meters of all enclosed spaces on the vessel.
gross weight Total weight of goods prepared for shipping, including packaging and freight car or container.
groupage A consolidation service that ships small freight in one container.
H
Hague Rules, The A multilateral, maritime treaty adopted in 1921 at The Hague, Netherlands, which standardizes liability of an international carrier under the Ocean Bill of Lading and establishes a legal basis for the bill of lading.
Harbor Fees Amount charged vessels to use a harbor.
Harmonized Tariff Schedule of the United States (HTSUS)
An international goods-classification system for describing cargo in international trade under a single commodity-coding scheme. For more information, go to http://www.usitc.gov/taffairs.htm
hazardous materials
A substance or material that has been determined to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce.
HAZMAT The Office of Hazardous Materials Safety, which is within the United States Department of Transportation's Research and Special Programs Administration and is responsible for
coordinating a national safety program for the transportation of hazardous materials by air, rail, highway, and water. For more information, go to http://hazmat.dot.gov/.
heavy lift (HL) Any article deemed by rules in a vessel's tariff to be beyond a certain weight. It may be too heavy for the ship's tackle and require special equipment such as a floating crane.
heavy lift charge In a maritime tariff, a charge made for lifting heavy articles to load or unload them.
HTSUS See Harmonized Tariff Schedule of the United States.
I
IATA International Air Transport Association
import To bring or carry in goods from abroad for trade or sale.
import duty (ID) Custom duty collected on imported goods.
import license (I/L)
An authorization by a legal authority for the importation of goods which are subject to restriction.
import restrictions
Any one of a series of tariff and non-tariff barriers imposed by an importing nation to control the volume of goods coming into the country from other countries.
importer An individual, firm or legal entity that brings goods, or causes goods to be brought from a foreign country into a customs territory.
in bond (USA) A procedure under which goods are transported, stored, or handled, prior to clearance and release by customs, and the government's interest is secured by indemnity bonds.
in bond shipment An import or export shipment that has not been cleared by Customs and is transported, stored, or handled with security to the government provided by indemnity bonds.
Incoterms An abbreviation of International Commercial Terms. Incoterms are published by the International Chamber of Commerce (ICC). It is a set of rules for the interpretation of the most commonly used trade terms in foreign trade in which parties to a contract can agree upon to avoid misunderstandings, disputes and litigation.
inherent vice The inherent physical properties of goods which may cause them to suffer deterioration or damage without outside influence. (For example: spontaneous combustion, rust etc.)
inland bill of
lading A bill of lading used in transporting goods overland.
inland carrier A transportation line which hauls cargo inland by: truck, rail, barge, inland waterways, or domestic airline flights.
inspection certificate
A document describing the condition of goods and confirming that they have been inspected.
intermodal compatibility
The physical capability of a shipment of goods to be transported from one form of transportation to another.
intermodal transport
J
jettison Casting overboard at sea such as jetsam (cargo or equipment thrown overboard to lighten a ship in distress).
joint rate A single freight rate on cargo moving by means of two or more carriers who share the income.
K
knocked down An article disassembled, unassembled, folded, or telescoped to reduce its bulk; subject to easy assembly. This is usually done to reduce the dimensions of the shipping package to save
transportation and storage costs.
L
landbridge A system of through rates and service offered by a carrier for cargo shipments from a foreign port by ocean vessel, transiting another country across land, and then again being loaded aboard an ocean vessel for delivery to the destination country. The movement across a country's land from port-to-port is the "landbridge" portion of the transportation. See also microbridge and minibridge.
lane metre A method of measuring the space capacity of roll on/roll off (Ro Ro) ships whereby each unit of space (linear metre) is
represented by an area of deck 1m in length by 2.5m in width.
lashing To hold goods in position by the use of wires, ropes, chains, or straps.
laycan Abbreviation for laydays canceling periods during which a ship owner must tender notice that a ship has arrived at the port of loading and is ready to load cargo.
laytime/laydays Time given by the ship owner to allow a chartered vessel to load and discharge cargo.
less than a container load (LCL)
A container with cargos from/for different shipper/receivers (i.e., contains more than one ships cargo).
less-than-truckload
A shipment which does not completely fill a truck or which weighs less than the weight required for the application of the truck load freight rate (which is usually a lower freight rate than applied to less-than-truckload cargo.)
Letter Of Credit (L/C)
A commitment, usually by a bank on behalf of a client, to pay a beneficiary a stated amount of money under specified conditions.
lighter aboard ship (LASH)
Some ships are constructed to carry special barges (lighters). These barges can go to smaller docks, go into inland waterways, load cargo at those places, and then carry it back to the ship, which lifts the barges aboard, with their cargo, and transports them overseas. Discharge of cargo is accomplished in the same manner.
lighterage The loading or unloading of a ship by means of a lighter (barge), especially when shallow waters prevent an ocean going vessel from approaching a berth, or if berths are unavailable.
liner in liner out (LILO)
Full liner terms. Qualification to a freight rate that signifies that it consists of the ocean carriage and the cost of cargo handling at the loading and discharging ports (to ship's rail) according to the custom of a particular set of ports.
Limited Liability (USA)
Limitation of Liability Act. A U.S. statute which permits a ship-owner to restrict his liability to whatever value his ship has after an event such as a sinking or collision.
line haul The direct movement of freight between two major ports by a single ship.
line haul vessel A vessel which is on a regularly defined schedule between ports.
linear metre Method of measuring volume of cargo on Ro Ro vessels, in which the measurement is an estimate of the length of the cargo laid end-to-end. See lane metre.
liner terms Conditions under which a shipping company will transport goods, including in the amount payable for freight the cost both for loading and discharge of the cargo from the vessel.
loading Placing cargo into a truck, a shipping container, or onto a vessel.
LO/LO Lift on/Lift off.
longshoreman A laborer who loads and unloads ships, handles cargo and containers at shipping terminals, and loads and unloads containers at shipping terminals.
logistics Management of transporting goods for export or import.
lower deck containers
Carrier-owned containers specially designed to fit in the cargo compartments of a wide-body aircraft. These compartments are on the lower deck of the aircraft beneath the passenger level.
M
mafi See roll trailer.
maritime Relating to marine shipping or navigation.
megacarrier A massive shipping line that primarily services the east/west trade.
microbridge A system of through rates and service offered by a carrier for cargo shipments from any inland U.S. location to a port by sea, to a foreign port, and finally overland to foreign inland destination.
minibridge The process of taking inland cargo bound for export to the coast by rail and loading it directly to a ship.
minimum charge The lowest amount that will be charged regardless of the amount of service rendered.
N
NAFTA North American Free Trade Agreement.
negotiable bill of lading
A bill of lading whose terms make it transferable by endorsement, which make the goods that it covers deliverable to bearer, or to the order of a named party or to the assigns.
nested Packed one within another; for example, the way paper cups are stacked as a way of saving space.
net weight The weight of goods without packaging. The weight of the contents of a package.
NMB National Maritime Board.
NRT Net registered tonnage.
NVOCC Non-vessel owning common carrier.
O
ocean bill of lading
A receipt for the cargo and a contract for transportation issued by an ocean carrier. When issued in negotiable form, it is also an instrument of title.
on board Notation on a bill of lading indicating that the goods have been loaded on board a named ship.
on deck bill of lading
An ocean bill of lading containing the notation that the goods have been loaded on the deck of the vessel.
P
packing list A document listing the merchandise in a particular shipment that indicates the kind and quantity in each package.
pallet A platform, with or without sides, on which a number of packages or pieces may be loaded to facilitate handling. Usually the pallet is constructed so that it has space underneath it to permit lifting by mechanical equipment.
palletizing The loading and securing of a number of sacks, bags, boxes or drums on a pallet base.
perishable freight Goods subject to decay or deterioration during shipment.
pickup order An order to a carrier to pick up freight at a location.
pier-to-pier Shipment of cargo with carrier responsibility from origin pier to discharge pier.
piggyback The transportation of truck trailers and containers on specially equipped railroad flat-cars.
Port 1. A place used for loading and unloading cargo or passengers of vessels. It can be within a natural harbor on a coast, a river, or within sheltered water produced by artificial jetties.
2. A place where customs officers are stationed for the collection
of duties and the control of imports and exports.port charge A fee for services performed at ports.
port of discharge The port at which a shipment is off loaded by a transportation line.
port of entry A place where Customs is stationed to control the arrival of carriers, goods, and persons from foreign countries.
port of export A place where Customs is stationed to control departures of carriers, passengers, and goods to foreign countries.
prepaid charges 1. Charges, including freight, are paid by the shipper.
2. Charges designated as prepaid are paid by the shipper with other charges to be collected from the receiver.
priority air freight Reserved air freight or air express service where a shipment has a priority after mail and the small package services.
Q
R
rail waybill A document used to control the transportation of a shipment of goods via rail.
reach stacker A container-handling truck that can stack containers and reach behind two rows of containers.
received for shipment bill of lading
A bill of lading that confirms the receipt of goods by the carrier for transportation on a particular vessel, but neither their actual loading on board the vessel nor their actual shipment.
REDS Registered Excise Shippers and Dealers.
reefer Refrigerated container that carries cargo that must be frozen or chilled.
reefer Container A controlled temperature shipping container (usually refrigerated with a self-contained refrigeration unit).
Re-export The export of imported goods without appreciable added value
reserved freight space
A service by some airlines and ship lines that allow shippers to reserve freight space on designated voyages.
restricted letter of credit
A letter of credit which restricts negotiation to the bank that the issuing bank has nominated in the credit.
road waybill Transport document is used to control shipments of goods via truck. It contains the same information as an inland bill of lading, with freight and other charges, and routing.
roll on, roll off (RoRo)
1. Freight ship or ferry that allow vehicles to drive on and off (roll-on roll-off).
2. Carriers equipped with large openings at bow and stern and sometimes also in the side with hydraulically operated ramps providing easy access, which permits rapid loading and discharge. Fully loaded trucks or trailers carrying containers are accommodated on the deck.
3. A system of loading and discharging a ship where the
cargo is driven on and off on ramps.
roll trailer A wheeled trailer (also called mafi) used to load (or unload) cargo aboard ship, which can remain board throughout the voyage. Usually it is attached to a tugmaster, with a gooseneck.
S
seafreight Charges for sea transport only.
2.Goods being shipped.
shipped on deck Goods shipped on the deck of a vessel. The bill of lading covering goods shipped on deck must be annotated to that effect.
shipper 1. A commercial transporter (consigner and receiver) of goods, also called a carrier.
2. One who tenders goods to a carrier for transportation.
3. The sender of goods to be transported as distinct from the
receiver or the consignee.shipping order Instructions from a shipper to a carrier for the transportation of goods.
ship's manifest Captain's statement providing details of the ship, crew, cargo, and ports of destination.
short form bill of lading
A bill of lading on which does not list the detailed conditions of transportation, but instead there is a statement which declares them to be incorporated by reference and states the place where they are available.
shortage A deficiency in quantity shipped, stored, or received.
short shipped Cargo not loaded and left on key, either by accident or design.
SITC Standard International Trade Classification.
SO Seller's option.
SOB Shipped on board.
specific
commodity rate
A favorable freight rate usually applicable to certain classes of commodities that ship in large volume shipments.
spot rate The rate (price per unit) for purchase or sale of a commodity or foreign exchange for immediate delivery.
SSN Standard Shipping Note.
stability The ability of the vessel to maintain equilibrium or resume its original position after displacement, as by the sea. Also a vessel's stability taking into account the weight and position of the cargo within the vessel.
stackmaster A pontoon with two collapsible ends.
standby letter of credit
beneficiary. If the customer defaults, the beneficiary can draw funds against the letter of credit as penalties or as payments.
starboard Right side of a ship when facing the front or forward end.
steamship (or steamer)
Vessels powered by steam engines. However, the term is often used as an anachronism to describe powered vessels in general, and companies who operate ocean-going cargo vessels are often called "steamship companies" despite the fact that the use of steam power for ocean going vessels is obsolete, the modern standard being diesel engines fueled by oil.
stern The aftermost part of the ship.
stevedore 1. A person having charge of the loading and unloading of ships in port.
2. Longshoreman.
storage The keeping of goods in a warehouse or other repository.
storage demurrage
A storage charge for property remaining on the dock or terminal past the permitted "free-time period."
storage in transit The stopping of freight traffic at a point located between the point of origin and destination to be stored and re-forwarded at a later date.
stowage The arranging and packing of cargo in a vessel for shipment.
stowage order An order from the ship owner determining how certain classes of goods (i.e., fragile, valuable, dangerous) are sent to the dock and how and where they are stowed. The stowage order must
accompany the goods to the dock.
straight bill of lading
A nonnegotiable bill of lading that designates a consignee who is to receive the goods and obligates the carrier to deliver the goods to that consignee only.
stripping Unloading cargo from a container or truck (also called devanning.)
stuffing Loading cargo into a container.
supercargo Person who plans stowage and supervises loading and discharging of vessels. Also known as a port captain.
surcharge A charge or tax above the usual or customary charge.
SWL Safe working load.
tank Carries liquids or powder.
tare The weight of a container or wrapper apart from the goods they carry.
tariff 1. A list or system of duties imposed by a government on imported or exported goods.
2. Duties or a duty imposed by a government on imported or
exported goods.
3. A schedule or prices or fees.
tariff anomaly When the customs tariff on raw materials or semi-manufactured goods is higher than the tariff on the finished product.
tariff escalation When customs tariffs on raw materials are nonexistent or very low; tariffs on semi-processed goods are moderate; and tariffs on manufactured goods are relatively high.
tariff schedule A comprehensive list of goods imported into a country where custom tariffs are applicable to each product.
tariff war (Customs) When one nation increases the tariffs on goods imported or exported from another country and the other country raises its tariffs in retaliation.
TDC Total distribution costs.
TDW Tons deadweight.
Temporary Importation (Admission Temporaire)
A customs procedure under which certain goods can be brought into a customs territory temporarily, conditionally relieved from the payment of import duties and taxes; such goods must be imported for a permitted purpose and must be intended for exportation within the permitted period.
tender 1. An attendant of a small vessel that serves a larger vessel in a port for the purpose of supplying provisions and carrying passengers to and from ship to shore.
2. A formal offer such as an offer of money or services in payment
of an obligation or a bid to contract goods or services at specified costs.terminal An facility that is used by a rail, ship, air, or truck line as a place for receiving and delivering cargo, loading and unloading, transferring, temporarily storing, recoupering, and similarly handling freight, as well as repairing and servicing equipment.
terminal charge A charge made for services performed at transportation terminals.
of 20 ft in length.
through bill of lading
A single bill of lading covering receipt of cargo at a point of origin for delivery to an ultimate consignee, usually involving multiple carriers and multiple modes of transport.
through rate A shipping rate applicable to transportation from point of origin to destination where multiple carriers and multiple modes of transport may be involved.
time charter A contract to hire a ship for a stated period of time.
trailer A transport vehicle designed to be hauled by a truck or tractor.
transship (tranship)
1. To transfer goods from one ship to another.
2. To ship to one country and re-export to another.
transit zone An area in a port of entry in a coastal country that is established as a storage and distribution center for the convenience of a neighboring country, which lacks adequate port facilities or access to the sea.
transmittal letter In international commerce, a letter from the shipper or its agent to transmit documents relative to a shipment, which usually includes a list of the documents enclosed and details covering the
transportation of the shipment.
transport documents
All types of documents evidencing acceptance, receipt, and shipment of goods.
tugmaster A tractor with a hydraulic trailer connection known as a fifth wheel, which is used to tow cargo on and off the vessels.
turnkey Construction whereby the contractor assumes total responsibility from design through completion of the product and release to the buyer in a stage so complete that the buyer need only to turn the key to open the door and walk into a facility that is ready to operate.
turnkey contract An agreement under which a contractor agrees to complete a product so that it is ready for use when delivered to the other contracting party.
U
Unconfirmed Letter Of Credit
A type of letter of credit bearing the obligation of the issuing bank only, not of any other bank.
Unloading 1. Removing cargo from a vessel, truck, airplane, or railroad car. 2. Removing cargo from a container; also called devanning.
Unrestricted Letter Of Credit
A letter of credit that can be negotiated through any bank of the beneficiary's choice.
V
VAT Value Added Tax.
vendor A company or individual that sells goods or services. A merchant, a retail dealer; a supplier; one who buys to sell.
volume rate A freight rate assessed in connection with a specified volume of freight based upon the premise that it will be substantial in total over a period of time. It is generally a lower rate than normally assessed for smaller lots of cargo.
W
war clause A marine insurance provision excluding the liability of an insurer if a loss is caused by war or hostile action. Bills of lading and charter parties may contain a "War Clause" giving the vessel options to maintain its safety in case of hostilities.
war risk The risk to a vessel, its cargo, or passengers by aggressive actions of a hostile nation or group.
war risk insurance Insurance covering loss or damage caused by war or other hostile actions. Usually a separate policy from a marine insurance policy or a special attachment to it.
warehouse receipt A document issued by a warehouse listing the goods or commodities deposited in the warehouse. It is a receipt for the commodities listed and for which the warehouse is the bailee. Warehouse receipts may be either non-negotiable or negotiable.
warehouse—USA Customs Bonded
A privately owned and operated warehouse that has posted bond and has been approved by U. S. Customs where goods remain until duty has been collected from the importer.
waybill A document prepared by a transportation line for shipment showing the point of origin, destination, route, consignor, consignee, description of shipment and amount charged for the transportation service and other services connected with the transport. It is similar in information to a bill of lading.
weight break The point at which the weight of a shipment is large enough to be assessed the lower freight rates that are applicable to larger shipments, as per the carrier's tariff.
