| Glossary | Shipping Terms |
|---|---|
| Accessorial service | A service in addition to usual liner service, normally with an added cost. Such kind of services include packing, loading, storage, etc. |
| Accrual | An accounting concept. It is a gradual increase by addition over a period of time and is a way of recognising that an expense (or revenue) and the related liability (or asset) can increase over time and not as signalled by an explicit cash transaction. |
| Acquiescence | When a bill of lading is accepted or signed by a shipper or shipper’s agent without protest, the shipper is said to acquiesce to the terms, giving a silent form of consent. |
| Ad Valorem | According to value. |
| Ad Valorem Duty | A customs duty which is a percentage made upon the value of goods. |
| Ad Valorem Freight | Bill of lading freight charged on goods of very high value at so much percent on the declared value of the goods. |
| Advice of Shipment | A notice sent to a local or foreign buyer advising that shipment has gone forward and containing details of packing, routing, etc. A copy of the invoice is usually enclosed and sometimes, if desired, a copy of the bill of lading. |
| Advising bank | A notice sent to a local or foreign buyer advising that shipment has gone forward and containing details of packing, routing, etc. A copy of the invoice is usually enclosed and sometimes, if desired, a copy of the bill of lading. |
| Affreight | To hire, as a ship, to transport freight. |
| Affreightment, Contract of | An agreement by a steamship line to provide cargo space on a vessel at a specified time and for a specified price to accommodate an exporter or importer. |
| Agent (Agt.) | A person authorized to transact business for and in the name of another person or company. |
| Air Freight Forwarder | A type of freight forwarder who specializes in air cargo. Refer to Freight Forwarder or Forwarder. |
| Air waybill | The air waybill (also called air consignment note) is the forwarding agreement or carrying agreement between shipper and air carrier and is obtained from the airline used to ship the goods in question. Air waybills are issued only in nonnegotiable form. |
| All commodity rate | A freight rate applying, with certain restrictions, to any and all commodities. |
| All inclusive rate (AI) | Freight rate that is inclusive of all charges. |
| Allowance | A sum granted as a reimbursement or repayment; a deduction from the gross weight or value of goods. |
| Also Notify Party | A second notify party to whom carrier sends its arrival notice advising of goods coming forward for delivery. |
| Apparent Authority | Also known as estoppel, it is the authority of an agent which is deemed to apply in law, perhaps by inference from the principal’s present or previous conduct. |
| Apparent Good Order | When freight appears to be free of damage so far as a general survey can determine. |
| Arbitrary | A stated amount over a fixed rate to one point to make a rate to another point. |
| Arbitration | A procedure under which a neutral third party hears both the union’s and the employer’s side in a dispute and issues an award that is binding upon both; also, the final step of a grievance process. |
| Arrival notice | Advice that carrier sends to consignee advising of goods coming forward for delivery. Pertinent information such as BL number, container number and total charges due from consignee, etc are included and sent to consignee prior to vessel arrival. This is done gratuitously by carrier to ensure smooth delivery but there is no obligation by carrier to do so and the responsibility to monitor transit and present himself to take timely delivery still rest with the consignee. |
| Awkward cargo | Cargo of irregular size that either be containerised (packed in container) or uncontainerised (without equipment associated with) in the transport. They require prior approval on case by case basis before confirmation of booking. |
| Glossary | Shipping Terms |
|---|---|
| B/L Master | A document provided by the shipper after handing over the cargo to the carrier, tells the carrier how the B/L should be raised. Also known as B/L instruction or shipping instruction. |
| Bank guarantee | Guarantee issued by a bank to a carrier to release cargo in lieu of original bill of lading. |
| Bareboat Charter Party | A charter party under which the shipowner provides vessel only and the charterer provides crew and cargo, normally for a period of years. Also known as demise charter. |
| Basic freight | Ocean freight excludes all charges. |
| Bdl. | Bundle. A kind of customary packaging unit. |
| Berth term | Shipped under rate that does not include cost of loading or unloading carrier. |
| Bill of lading (B/L) | Official legal document representing ownership of cargo; negotiable document to receive cargo; contract for cargo between shipper and carrier. |
| Bill of lading Ton | See check “Revenue Ton” |
| Black powder content | An IMCO standard information requirement for explosive dangerous goods. |
| Blanket waybill | A waybill covering two or more consignments of freight. |
| Blocked train | Railcars grouped in a train by destination so that segments (blocks) can be uncoupled and routed to different destinations as the train moves through various junctions. Eliminates the need to break up a train and sort individual railcars at each junction. |
| Blocking or bracing | Wood or metal supports to keep shipments in place in or on railcars. |
| Bls. | Bales. A kind of customary packing unit. |
| Bobtail | Movement of a tractor, without trailer, over the highway. |
| Bona fide | In good faith. |
| Bond | Shipments moving under a country Customs bonds. |
| Bond port | Port of initial entry of a vessel to any country per custom’s regulations. Also known as First Port of Call. |
| Bonded Logistics Park (Center) | It Improves logistics between free trade zones and ports when free trade zones are isolated from the ports. Within a bonded logistics park, there are bonded warehousing, allotment and distribution, information processing, import and export trade, customs check and maintenance, commodities exhibition, and centralized Customs declaration. Import, export and distribution of the cargo do not undergo Customs check procedures of both the ports and the free trade zones. The customs process in bonded logistics parks significantly achieves the advantages of the country’s preferential policies for both the FTZ and ports. |
| Bonded freight | Freight moving under a bond to U.S. Customs or to the Internal Revenue Service, and to be delivered only under stated conditions. |
| Bonded indemnity | A certificate filed with a carrier, relieving it from liability to which it would otherwise be subject. |
| Bonded warehouse | A warehouse bonded by customs authorities for storage of bonded goods prior to cargo being cleared. A facility or consolidation centre that is authorized by customs to store goods, usually separately on dutiable & non-dutiable goods, pending customs inspection and clearance. The goods in it are secured under customs custody. The payment of duties and taxes are only payable once the goods are removed. Authorized operators of bonded warehouse are often required to provide custom bond. |
| Booking | Arrangements with a carrier, often a steamship or airline, for the acceptance and carriage of passengers or freight. |
| Booking number | A reference number for booking registered. It should be unique without duplication in three years period. |
| Booking status | The status of booking in process from time of registration to the final stage of firm acceptance or rejection. It is composed of following status: (a) Cancelled: rejected or voided due to no show; (b) Confirmed: acknowledged with firm acceptance; (c) Confirmed subject to space availability: acknowledged acceptance of booking subject to confirmation in agreed time frame; (d) Pending: acknowledged receipt of booking yet subject to approval for acceptance. |
| Bottom air delivery | A condition whereby temperature controlled air is introduced into the container at floor level. |
| Box | Common term for an ocean going freight container. |
| Boxcar | A closed freight car. |
| Break-bulk cargo | Goods shipped loose in the vessel’s hold and not in a container. |
| Breakbulk (BB) | A term used to describe cargo which cannot be containerised due to its size and/or nature. |
| British Thermal Unit (BTU) | The amount of heat required to produce a temperature change of one degree Fahrenheit in one pound of water. |
| Broken stowage | The loss of space caused by irregularity in the shape of packages; any void or empty space in a container not occupied by cargo. |
| Broker | (a) A person who arranges for transportation of loads, usually large operations, for a percentage of the revenue from the load; (b) In Canada, an owner-operator. |
| Brokerage | Fee paid to freight forwarder by the carrier for services performed. |
| Brokerage license | Authority granted by the Federal Maritime Commission to engage in the business of arranging for transportation of persons or property in interstate commerce. |
| Bulk carriers | A vessel carrying dry, liquid, grain, not packaged, bundled or bottled cargo, and is loaded without marks & number or count. |
| Bulk freight | Not in packages or containers; shipped loose in the hold of a ship. Grain, coal and sulfur are usually bulk freight. |
| Bulk-freight container | Refers to a container with a discharge batch in the front wall; allows bulk commodities to be grasped by loading hatches. |
| Bull rings | Cargo-securing devices mounted in the floor of containers; allow lashing and securing of cargo. |
| Bunker surcharge (BAF, BSC) | Bunker Adjustment factor (BAF), or Bunker Surcharge (BSC) are surcharges assessed by carrier to freight rates to reflect current cost of bunker. |
| Bunkers | Heavy oil used as fuel for ocean vessel. |
| Bx. | Please see Box. |