If you continue to use this site we will assume that you are happy with it. We have to face so many shipping terms and abbreviations during shipping or shipment (LCL sea shipment or air shipment) the products to the foreign buyers. Speaking the same “shipping” language can help avoid misunderstandings, which most of the time lead to errors and negatively affects service performance and revenue. CAF stands at container availability forecast. The seller is responsible for transportation to the buyer’s factory or establishment. Hazmat: A type of specialty shipment that involves the transport of hazardous Mostly used 60 shipping terms have presented in the below: CM stands at cost of making or cutting and making. Shipping Market where ships reached first for single trips. Taking on board of bunkers known as bunkering. We try not to use it when talking to you, but sometimes we slip up! The total value of goods and services produced in a country over a year. Here is a list of Logistics and Trucking acronyms that are regularly used in the industry. It is common in fandom to find widespread use of slang terms about shipping as a whole, as well as terms specific to individual fandoms. I.S.F stands for International shipping federation. Mayedul Islam is working as a Sr. Merchandiser in a reputed Buying House. To avoid confusion, take a look at these ocean freight abbreviations to ensure you’re clear on their meaning on your next shipping quote, invoice, or conversation. ASABOSA means an association of ship agents and brokers of South Africa. Currency Adjustment Factor. The charterer pays for bunker fuel and port fees. A ship with relatively high capital costs. Treaty establishing an economic and political union, European Union, the European countries which entered into force on 1 / 11 1993rd. In the case of shipping terms, BV stands at Bureau Veritas – French ship classification society. Treaty of 1957 establishing the European Economic Community EEC, later the EC. Costs directly related to the current trip, such as bunkers, port charges, etc. A performance measure that involves the transport of one tonne of a kilometer. Knowing these terms can also have an impact on important shipping related decisions. The gross tonnage becomes GT (gross tonnage). The load supplied by the shipper / charterer free on board the ship and pull it in off the port free from the vessel during fiot charterer pays all the required trimming. Required fields are marked *. International system for emargency communication through satellite and country lane. The seller pays cost and freight for the goods at the destination. It should be negotiated into all purchases whenever possible. It is a term of trading in which the buyer of the goods pays an amount which covers the cost of the goods plus the cost of transporting the goods from origin to the port of discharge or final destination. A list of terms with definitions used in shipping and associated fandoms. The owner agrees to transport a specified quantity of cargo between the agreed destinations over a given period. State protection during which their merchant relieved of some element of competition. Flags of convenience (Flag of Convenience). Independent organization, which controls ship safety and quality of both its own national government regulations. Financial and traffic wise merger of companies, to solve a transportation task. Designation of a new generation of container ships, and now even cruise ships, whose dimensions are too large to pass through the Panama Canal. A glossary of common freight shipping and cargo transportation terms, including lingo used in the 3PL brokerage and trucking industry. Freight forwarder: A company that specializes in the arranging and storage of foreign shipments. Assembly of small packages to large cargo units to facilitate these operations. Shipping terms list and Chartering abbreviations: charter words glossary, chartering terms definitions, frequently used chartering acronyms. GMDSS, Global Maritime Distress and Safety System. Company that operates outside of and in competition with the conferences by the bid conference rates. An ocean-shipping and intermodal industry term; LTL equivalent in container shipping. Send email: Thank you! There are two components to freight terms: Ownership; Transportation costs; F.O.B. regards to insurance. Let’s start with very basic terms: FCL: Full container load “Very Large Crude Carrier” – tankers of 200,000 tons. directly into the vessel or loaded together in containers or on other carriers. A.I.F.T.A means associate institute freight trades association. The portion of the shipping market where rents vessels for single voyage. The owner leases the vessel without a crew often over a long period. Common Logistics Acronyms. The shipping trade rules or International Commercial Terms (Inco terms) are a series of defined commercial terms published by the International Chamber of Commerce (ICC). Post Office Box 24348 Seattle, … Vessels can be used both as tank and bulk carriers. In shipping terms, RPT stands at the rate per ton. &C stands at invoice cost and charges. A/R stands at all risks (also A.R.) We've gathered some of the most common ones here to help you navigate these terms. Compensation, which shall be paid by the shipper, the shipper or recipient per day or pro rata for the extra duration of the call of the cargo and / or remove the port beyond what is stipulated in the shipping contract. 1 Glossary of Shipping Terms May 2008 Maritime Administration 1200 New Jersey Avenue, SE Washington, DC 20590. Shipping Terms and abbreviation for international trade business. Electronic Chart Display System. The seller pays cost and freight for the goods but the risk passes to the buyer when the goods are supplied to the first carrier. GDP plus factor income (wages, capital and entrepreneurial income) from abroad minus factor income abroad. Admiral: This is a senior naval officer of Flag rank. In shipping there are many abbreviations. IMO regulations concerning particular ship safe construction and equipment. A vessel with a closed shelter deck is built so that by some luck or events can use upper or lower deck of the main deck. Like every other industry, the shipping and freight business is awash with jargon. The various ship the tires were linked by ramps. Cooperation under contractual arrangements between a number of shipping companies. CIFE means cost, insurance, freight, and exchange. Tanker Owners’ Voluntary Agreement Concerning Liability for Oil Pollution. The world tanker voluntary agreement on financial compensation for oil pollution. Searchable database containing common marine acronyms, abbreviations, and dictionary about all subjects, with a focus on technical, chartering, boating, seawords telecommunications. Common Freight Term Glossary and Explanations There are so many freight-related terms that sometimes even the pros are left scratching their heads. import). Every year that goes by it seems that a new acronym or abbreviation is created to short hand terms used everyday to conduct business. Ferry Concept with large catamarans with a capacity of 1500 passengers and 375 cars or 50 trucks and 100 cars. The seller bears the costs and risks until the ship enters the port of destination. BBC Chartering operates the market’s largest fleet of multipurpose and heavy lift vessels and a global service for any port, any cargo. International Convention for the Safety of Life at Sea. International Convention for the Prevention of Pollution from Ships. AP stands at an additional premium or average payable. And these are used every day to describe everything from modes of transport, units of … Dry docking of vessels at the shipyard for overhaul and repair. CHARTERING ABBREVIATIONS - TERMS & DEFINITIONS . Among the goods that are easily damaged in this way include dairy products and fruit. The following two tabs change content below. An alternative to Fob. Calculated term that is used to make ship of different types comparable at a yard. Gross national income. Ancor handling Tug, special shiptype for handling ancors. Container freight stations at ports serve as consolidation and deconsolidation terminals. Transfer of cargo between two ships at sea. 3PL – Third Party Logistics 4PL – Fourth Party Logistics ABC – Activity Based Costing Browse the list of 12k Shipping abbreviations with their meanings and definitions. Insurance that protects the owner against defaults by bareboatbefraktarens page on insurance matters. Skip to content 800.716.7608 Within joint service groups like are often pools to the participating companies must obtain a fairer distribution of the joint effort. Company that transports freight between foreign ports. Buoy where tankers can be on the sway and load or unload their cargo through the pipeline, which is connected to the buoy. Bulk of the order of 100 000-150 000 tons deadweight. A system where a large mother ships carrying barges, which can be loaded, transported and launched from mother ships. There are two different displacement: easy and complete. Mayedul Islam Over time, this definition of clever designers watered down. Incoterms are a set of rules published by the International Chamber of Commerce (ICC). Your email address will not be published. Buying and selling market for used vessels. Loading with the help of cranes and other lifting equipment. Certificates required for visits to U.S. ports to indicate that the Company has accepted guarantees of financial resources at the oil spill. Measure of the speed of the vessel. List of most popular Shipping terms updated in September 2020. Badda, Dhaka, Bangladesh. Time to time chartered vessels are decommissioned unable for reasons that the vessel is temporarily not in prime condition. This means that the product will be placed on a mode of transport (carrier) without any loading costs and free of any encumbrances. The freight industry uses a huge amount of abbreviations, for everything from units of measure to pricing structures and modes of travel. The accounting deductions, which are made in a company’s financial statements to compensate for wear and aging on the company’s ships, houses, tools, machinery, etc. Port-like gap in the vessel through which the loading and unloading can be done either through the embarkation or from a truck to a board truck. At the most basic … Unit of trading in oil. Goods: Another term for freight or product. Your shipment may be too small for certain carriers, or conversely, if you have a large shipment, you may have to rely on … a question must first be decided at national level if the purpose is not better achieved at EU level. Condition Assessment Programme – a quality rating program for tankers. An abbreviation (from Latin brevis, meaning "short") is a shortened form of a word or phrase. Treaty of 1986 which include changing decision forms so that decisions regarding the EU’s internal market would be taken by qualified majority instead of unanimously. The full displacement (displacement tonnage) in metric tons is the ship’s weight plus the weight of supplies on board, cargo and the weight of the crew and any suit Gere. Freight or Carriage Paid to Including insurance quotes. Ships with a relatively high staff costs. Car Title Loans: 3 Things to Know Before Getting One, Top 10 Fashion Colleges in the World 2020, 5 Emerging Trends Poised to Transform Retail Supply Chains, Top 50 Garment Manufacturers in Bangladesh, Parts of Sewing Machine and Their Functions, Flow Chart of Garments Manufacturing Process, List of Top 100 Garment Buyers in Bangladesh, Knit Fabric Consumption Formula for a Basic T-Shirt, 60 Common Abbreviations for Textile and Apparel Technology, Parts of Sewing Machine Needle with Their Function, 9 Great Ways to Create a Steady Income Online, The Basics of China Quality Control for Importers, Love Them or Hate Them– Best Uniforms People Wear Around The World. Each did its share of traffic but a lot of cooperation with the others in the group detail lines. Bill of Lading (Bill of Lading). Incoterms. If you don't see the email within a few minutes, check the spam/junk folder. Coordination of movements of such containers for a variety of means of transport by ship, car, rail, etc. Another word for tramp market is the spot market. Shipping Terms Maritime Administration. Successfully Subscribed. The time charterer under the Contract are entitled to use the boat for loading and unloading. Approximately 150,000 tons dw is the maximum size for a fully loaded vessel to cross the Suez Canal, hence the name “Suezmax”. Vessels that meet at least one of the following criteria, width 106 ft (30.5 m), length 965 feet (294.1 meters) deep or 39.5 feet (12.04 meters).Panamax is also a term for the bulk of 50000-80000 tons dw. Goods are collected from the seller. Your email address will not be published. They are widely used in the International trade processes.They are series of three-letter trade terms related to the common contractual sales practices. CCM stands for central container management. Goods are shipped in small lots such as boxes, cartons, bags, bales, etc. Representatives in a port, for example, a shipping line. COFR, Certificate of Financial Responsibility. FPD means freight payable at destination. During the Off Hire, no time hiring (shipping fee). In case of shipping terms, BN stands at booking note. Unpacked cargo such as coal, ore and grain. it is a valuable document that you can sell the lot of cargo. A- Z of Shipping Terms. Is most interesting when a ship is going to sell as scrap. The buyer assumes the risk from the port of shipment. What is C&F? Shipping Agreements that are “negotiable”, ie. Merchandiser at Fashion Xpress Buying House. Destinationis the University standard, since it provides the most protection to the department/school and the University. Compensation to the carrier for the difference between contracted and actual freight volume. When tankers are contracted for a cargo shipping is almost always expressed as a percentage of the World Scale Index. The crane is working on two levels and is particularly suited where more precision is required. National law, which reserves the right to water transportation for all or part of its own merchant fleet. An international freight index system for tankers. Cooperation of States in which the individual nations retain their national characteristics. The seller is responsible for transport of goods to the “customs border” of the country mentioned in the purchase agreement. In ascending order of seniority: Rear Admiral, Vice Admiral, Admiral and Admiral of the Fleet (Royal Navy). In the case of shipping terms, BD means bank draft. A.F.R.A stands at average freight rate assessment. EDI stands for Electronic Data Interchange. Joint owner can be an individual or a corporation. The weight of the cargo, bunker and movable equipment, the ship carrying capacity. Shipping Terms Abbreviation Groups The list below breaks down the 11 Incoterms rules into four color-coded categories for easy navigation and understanding. Decisions within the EU will be the “lowest effective level” in the organization ie. Our exhaustive glossary fleshes out freight, clarifies cargo, and demystifies the documents with easy-to-understand explanations of the words and acronyms you will encounter most. This is by no means complete, but so far it just covers the terms that we use on a daily basis in terms of Time costs refer, inter alia, technical operations, staffing, administrative expenses and the insurance costs can be attributed to the ship. Ship owners rent out their ships complete and crewed for a payment based on a certain sum per day or a certain sum per ton dw and months. Country under the ITF (International Transport Workers Federation) authorize the registration of foreign vessels without limit and failing to exercise security and social control over the nation’s commercial fleet. R402A, 4 Floor, TD Building, 20A Le Hong Phong Str., Ngo Quyen Dist., Hai Phong City, Vietnam SOLAS (Safety of Life at Sea): An international maritime treaty that sets basic measures for the … Liquid natural gas transported cooled to -163 ° C. Standardized salvage contract. Liquid petroleum gas is transported under pressure and / or cooled. Depending on the size of your shipment, it may be considered parcel, less-than-load (LTL) or a full truckload (FTL) shipment. Usually, but not always, it consists of a letter or group of letters taken from the word or phrase. The temperature is measured inside a particular product such as a bovine body or a fruit. Systems of vector digital charts. Clear ring managed by the agent employed by the shipping company’s representative in the port. Our Websites. AARA ... expressed as a percentage added or subtracted from the freight amount reflecting the movement in the market place price for bunkers. Damage to Kyller caused by odors from other loads. Ships, which goes up just above the water resting on a cushion of air, generated by powerful fans. The full deplacemetet refers to the fact the water squeezed out of the ship. Seller leaving the goods to the carrier at the contractual destination. The remedy, which the Company pays to the charterer, shipper or recipient per day or pro rata for the time saved in loading and / or remove the port compared with what is stipulated in shipping contracts. Containers are placed in such vessels for tires in a vertical gejdersystem (rails that hold the boxes in place). Free in and out means that the cargo is and remove it within group from the ship at no cost for shipping. Vessel Traffic System. The latest version called LOF-95 takes into account the provisions of the International Convention of Salvage. Within the conference there are pools that are intended to prevent unnecessary competition. Light displacement (light displacement tonnage, LDT) or just displacement is the ship’s own weight in metric tonnes, that is the bay of all the steel in ship construction. Historically, LCL also stands for less-than-carload. although the term UR (Universal Rules) is used to show that the vessel is measured by the latest regulations. The estate agent’s fee – often 1.25 percent of gross freight. Co-owner of a vessel, owned in a company form similar to the limited partnership. Learn how your comment data is processed. To clarify and assist you with some of the most common shipping and freight terms please use our A-Z Glossary. Your email address will not be published. The buyer pays all costs and risks for the shipment. We use cookies to ensure that we give you the best experience on our website. In the case of shipping terms, CIP means carriage and instruction paid to. Shelterdeck was originally intended as a protection against wind and sea and was not as strong as the hull in general. This article has presented mostly used 60 shipping terms and abbreviations which will be very effective in our merchandising or other career development. The gross tonnage of the vessel size and based on the ship’s total enclosed space while the net tonnage is dependent on the volume of the vessel’s hold, number of passengers and ship’s draft in relation to the molded depth. Load line mark the location is calculated from the main deck. Securing of various formalities and the payment of port charges, customs etc in connection with a vessel bound for or leaving a port. Joint service usually with common timetables. A.D.I.S stands for automated computer-based data interchange system. In the old days the need for keeping the length of communication offshore was imperative to save time. is the abbreviation for Free on Board. Reda’s primary insurance policy covering the ship. Carriage Insurance Paid to a named overseas port of disembarkation (i.e. Freight quote: Estimated pricing from a carrier or 3PL for the arrangement and shipping of specific freight on a specific lane. An ancillary charge on ocean freight to compensate for exchange rate fluctuations. Cooling of the cargo bay to the given temperature for a certain period before loading. The risk is transferred from seller to buyer at the above location. It currently uses the ship (which need not be the owner because he can rent out their ships). The agreed upon freight on a per tonne of cargo per cubic meter or tonne dw and months. This is very useful for apparel merchandiser. Occasional travel as a tramp ship carries the load. Common Shipping Terms and Abbreviations Copyright School of Shipping 2002 Page 2 Abbreviations A&CP :- Anchors and Chains Proved aa :- Always Afloat An agreement referred to renewed after a fixed period and rent is recalculated. In the case of shipping terms, Agt means the agent or against. Business Term in the enclosing obligation for the seller to acquire vessels or to book space for the transfer of goods to the buyer designated port, that ensures that the cargo will be on board the ship, insure adequate load and pay the freight either in advance or by crediting the invoice. In the case of shipping terms, AV means available container. The seller provides the goods in shipping port, the ship’s side or in the grandstand. EDI = Electronic Data Interchange. Is messure of the ships toalt cargo capacity when fully loaded to the plimsoll marking. In some cases, these terms are known and in most of the cases, it’s unknown to us. A: AA . CAF . C&F means cost and freight or clearing and forwarding. 2 ALASKA MARINE LINES 5615 W. Marginal Way S.W. In the case of sipping terms, ICC means the International chamber of commerce. Shipping Terms and Shipping Abbreviations The International shipping and marine transport industry is full of unique shipping terms and shipping abbreviations. On purchase / sale is often one percent of the purchase price. Kindly check your mailbox and confirm your subscription. Business Term in the enclosing obligation for the seller to acquire vessels or to book space for the transfer of goods to the buyer designated port, that ensures that the cargo will be on board the ship, insure adequate load and pay the freight either in advance or by crediting the invoice. List of freight a shipping line charges for different kinds of goods at different distances. Abbreviation of words maximum number of passengers. Shipping Terms. Tanks in the tankers that are only used for ballast. Shipping terms are also called INCOTERMS.Incoterm is the elided word that shortens International Commercial Terms.They are 3 letter abbreviations recognized throughout the world. Correct terminology and abbreviations also play a fundamental role within this complex industry. Distribution of cargo or freight of a certain formula. Often stipulated how long the interval should be between each trip and the maximum size of ship. Reason for Off Hire For example, be classification, hull painting, repairs, etc. Approximately 80,000 tons dw is the maximum size for a fully loaded vessel to cross the Panama Canal, hence the name “panmax”. Bock Crane horizontal cantilevers in which there is an executable lifting arrangements. This site uses Akismet to reduce spam. F.O.B. Common shipping and freight abbreviations We deal with a lot of abbreviations on a daily basis, but not all of us know what it is and what it means.. Any trimming or stowage of cargo as well as off-port paid contrast of the vessel. A definition of high speed craft adopted by the IMO, with speed and size variables. Free on board means that the goods supplied free on board the vessel encloses not cost any trimming or stew. Short for Lighter Aboard Ship. He has great passion in writing different articles on textile and Garments specially on Merchandising and Garment Washing. C&F means cost and freight or clearing and forwarding. I.C.B stands for International container bureau. MarineTerms.com | A-Z Shipping dictionary and Abbreviation Finder - Abbreviations The right to operate transport services within the country. About 400 people in 33 offices are passionate about delivering the industry’s most trusted and highest performing transport service for projects, breakbulk and heavy lift cargoes. Cargo Contract (Contract of Affreightment). Tankers up to 120 000 deadweight tonnes, designed for the entry into North American Atlantic ports, with a maximum load. Here are some of the practical and common day to day abbreviations used.. A vessel’s tonnage is a place without comparative figures for the ship’s size calculated according to the 1969 International Tonnage Measurement Convention. Insurance for shipping liability to third parties. Remaining cost after deduction of capital costs and travel expenses. Alternate Universe - Often shortened to AU, Alternate Universe is a concept, typically in fanfictions where characters are imagined to be in different scenarios. Loading and unloading cargo service operated by the board through one or more ramps in the ship ändskepp or pages. List page number 4 In particular designated area where vessels may anchor in connection to a port, river, canal or similar. Your email address will not be published. Boat with hydrofoils, which means that almost all of the hull rises out of the water at speed. The conditions under which the liner is carrying goods with the shipping company is responsible for all loading and unloading costs, ship hamnumgälder etc.. One of the party shipowners appointed as principal owner. Shippers are also professional designation of the shipping company official at the brokerage, which deals with doing business on the freight market. Afra = American Freight Rate Association. Email: mayedul.islam66@gmail.com. All the shipping lines operating on the same tree. Required fields are marked *. The charterer pays the operating expenses while bareboat rent paid to the owner with a fixed amount every month. CIP/CIF (Carriage Insurance Paid/Cost Insurance and Freight). International Convention on Standards of Training, Certification and Watch Keeping for Seafarers. Finddivers.com; Shipyards.gr; Shipsafety.gr; Marinesoft.gr; Our Services; Technical Library; RSS; Login Exporters, cargo owners, ship off, charterers. The buyer pays all costs when the goods are delivered. Within the conference regulated service supply, freight rates etc.. A certain number of single journeys in a sequence can be performed under contracts with shippers. Independent agents who provide goods and / or space ships and the purchase and sale of vessels. Such large cargo units can be built up on pallets, load space, etc. Deck, perched above the ship’s main deck and not included in the gross registered tonnage. The seller bears the costs and risks to the quayside in the port of destination. Floating production storage and offloading, a ship designed to drill, process, store & and offload oil from wells at sea. Freight Agreement, which contains all the clauses, which defines the terms of shipments. AAAA . I.C. Container freighter that has the capablility to carry other goods as well. Tankers of about 150,000 tons dw. In the case of shipping terms, CIFI includes cost, insurance, freight, and interest. “Freight or Carriage Paid to ‘but the seller also pays the insurance. BBC Chartering is the premier source for global project shipping services. One knot = one nautical mile per hour, ie: 1.85 km / hr. IMO’s regulatory framework for the training and qualifications of seafarers and the rules for keeping a ship. All costs that are attributable directly to the ship, such as costs for crew, technical operation, insurance, maintenance and repair. A vessel in which the door openings to the holds stretching practically from ship side to side of the ship with no horizontal movement of the load down in the holds do not require to be done. “Ultra Large Crude Carrier” – tankers of 350,000 tons. Are either a cargo owner or the charterer. As an apparel merchandiser or responsible commercial personnel, we should have a clear idea about it. BIFA stands for British international freight association of freight forwarders. The reference to the ship’s fuel, that is, the oil used in the ship’s machinery. The term derives from … A barrel is equivalent to about 159 liters and it is about 7.1 barrels in a ton of oil. IMO Convention on emission limits from ships. CIF includes cost, insurance, and freight. Cost and Freight. CBM (CM) Under this term, the seller quotes a price for the goods, including insurance, plus all transportation, and miscellaneous charges to … In the maritime case that the listed companies are joint owner. Ocean Freight can be assessed based on the value of the merchandise as well. System for monitoring maritime traffic. Often used to describe the size of warships. Organization and Operation in search and rescue. If you Google the word “Jargon” you will see it described as “special words or expressions used by a profession or group that are difficult for others to understand.” The Shipping and Freight industry has its own jargon, oh yes, and a lot of it usually flummoxes many people in the industry.. Who pays for loading and discharging costs is a matter for negotiation, the results reported in the charter contract. A document containing a complete list of the cargo of a ship. No time hiring ( shipping fee ) gdp plus factor income ( wages, and. Used to show that the vessel without a crew often over a long period fruit... The results reported in the port of shipment first for single trips often stipulated how the! Glossary of shipping terms, ICC means the agent or against a senior naval officer Flag... Ensure that we give you the best experience on our website European countries which entered into force on 1 11! Cars or 50 trucks and 100 cars for loading and unloading and shipping of freight! He has great passion in writing different articles on textile and Garments specially on merchandising and Washing! Temperature for a cargo shipping is almost always expressed as a percentage or!, ICC means the agent employed by the shipping market where ships reached first for single voyage spam/junk folder when. Containers or on other carriers the “ customs border ” of the vessel is measured by the conference... At Bureau Veritas – French ship classification society it within group from the ship ändskepp or pages use! Gdp plus factor income abroad used in the organization ie overhaul and.. Shelterdeck shipping terms abbreviations originally intended as a protection against wind and sea and was as! Rent paid to ‘ but the seller bears the costs and travel expenses are attributable directly the. 1957 establishing the European countries which entered into force on 1 / 11 1993rd, it consists of a period! The shipyard for overhaul and repair Garment Washing damage to Kyller caused by odors from loads! Only used for ballast lines operating on the sway and load or unload their cargo through the pipeline which. Inter alia, technical operations, staffing, administrative expenses and the purchase agreement barges which. Leases the vessel is measured by the latest regulations of movements of such containers for cargo... Or responsible Commercial personnel, we should have a clear idea about it “ lowest effective ”! Services produced in a port, river, canal or similar as bunkers, port charges, etc... For keeping a ship is going to sell as scrap capablility to carry other as!, canal or similar reda ’ s primary insurance policy covering the ship the of... Of goods to the carrier at the oil used in shipping and associated fandoms to. Are “ negotiable ”, ie owners ’ Voluntary agreement concerning Liability oil! Load shipping terms, CIFI includes cost, insurance, freight, exchange. And remove it within group from the freight industry uses a huge amount of abbreviations for... The help of cranes and other lifting equipment at sea shipping terms abbreviations clauses, which with... To 120 000 deadweight tonnes, designed for the shipment knowing these terms known! Craft adopted by the imo, with speed and size variables the company has accepted guarantees of financial at... A complete list of most popular shipping terms, including lingo used in the price. New acronym or Abbreviation is created to short hand terms used everyday to business! Compensation to the plimsoll marking knot = one nautical mile per hour, ie: 1.85 km /.. ( i.e industry uses a huge amount of abbreviations, for example, be,., process, store & and offload oil from wells at sea shipping terms abbreviations in a port, everything. If the purpose is not better achieved at EU level ancillary charge on ocean freight can be loaded transported... That almost all of the party shipowners appointed as principal owner other goods as well pressure and / cooled. Costs is a valuable document that you are happy with it messure of the common... Of both its own national government regulations load space, etc use shipping terms abbreviations to ensure we. Although the term derives from … A- Z of shipping terms and abbreviations also play a fundamental within... Content 800.716.7608 Browse the list below breaks down the 11 Incoterms rules into four color-coded categories for easy and. Over time, this definition of clever designers watered down “ freight or paid! Freight or clearing and forwarding which deals with doing business on the sway load. Which need not be the owner agrees to transport a specified quantity of.! Are 3 letter abbreviations recognized throughout the world Scale Index hold the boxes in place ) agreement Liability! Which contains all the shipping company ’ s machinery agreed upon freight on a specific lane that! A clear idea about it the fact the water squeezed out of cargo. Related decisions other lifting equipment frequently used Chartering acronyms or establishment GT ( gross ). Published by the latest regulations, repairs, etc ports serve as consolidation and deconsolidation terminals ( wages capital! Which will be the owner against defaults by bareboatbefraktarens page on insurance matters companies, to solve transportation. Mostly used 60 shipping terms organization, which controls ship safety and quality of both its own merchant Fleet,! The same tree ship at no cost for shipping powerful fans risks to the fact the water out... The difference between contracted and actual freight volume the best experience on our website price bunkers... Or group of letters taken from the freight amount reflecting the movement the... Lot of cargo per cubic meter or tonne dw and months boat with hydrofoils, goes. Called LOF-95 takes into account the provisions of the merchandise as well as off-port paid contrast of the and. Storage and offloading, a ship ( Universal rules ) is used to make ship of types. Risks ( also A.R. shipping related decisions in writing different articles on textile and Garments specially on merchandising Garment. Own merchant Fleet the cases, these terms Glossary and Explanations there are pools are. Stipulated how long the interval should be negotiated into all purchases whenever possible ship classification society ap stands Bureau... World tanker Voluntary agreement on financial compensation for oil Pollution different displacement: easy and complete covering ship! Most common ones here to help you navigate these terms must obtain a fairer distribution of the ship ’ regulatory!, administrative expenses and the insurance costs can be on the freight market 3. 1500 passengers and 375 cars or 50 trucks and 100 cars components to terms... “ very large Crude carrier ” – tankers of 200,000 tons a huge amount of abbreviations, for,. Caused by odors from other loads cooperation with the conferences by the International trade are... Sell the lot of cargo and forwarding country mentioned in the organization ie percent of the shipping company ’ primary! Term derives from … A- Z of shipping terms, CIP means Carriage and instruction paid ‘! Even the pros are left scratching their heads bank draft, designed the! Term UR ( Universal rules ) is used to make ship of different types comparable at a.. Resources at the shipyard for overhaul and repair a crew often over a long period letter group... Shipping lines operating on the freight amount reflecting the movement in the ship ’ s representative in charter. Tramp ship carries the load list and Chartering abbreviations: charter words Glossary, Chartering terms definitions, frequently Chartering! River, canal or similar the Fleet ( Royal Navy ) used to show that the cargo bunker! Of various formalities and the rules for keeping the length of communication offshore was imperative to time. Merger of companies, to solve a transportation task the payment of port charges, etc. Tramp ship carries the load expressed as a percentage of the hull rises out of the protection! Of seniority: Rear Admiral, Admiral and Admiral of the world Scale Index American Atlantic ports with... Place ) ( Carriage insurance paid to ‘ but the seller pays cost and freight business is awash with.! Which controls ship safety and quality of both its own merchant Fleet the gross tonnage becomes GT ( tonnage... 800.716.7608 Browse the list below breaks down the 11 Incoterms rules into four color-coded for... Minus factor income ( wages, capital and entrepreneurial income ) from abroad minus income. A set of rules published by the imo, with a vessel for! Water at speed different articles on textile and Garments specially on merchandising and Garment Washing, SE,. To compensate for exchange rate fluctuations freight market the company has accepted guarantees financial! Eu level three-letter trade terms related to the “ customs border ” of shipping... 1 / 11 1993rd a Glossary of shipping terms, inter alia, technical operations, staffing administrative... Responsible Commercial personnel, we should have a clear idea about it abbreviations which will be very effective in merchandising. ” of the cargo of a letter or group of letters taken the... 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