Terms & phrases

International regulations regarding the transport of dangerous goods by road

Piracy risk surcharge

Actual time of departure

Document for freight by sea

Trade between companies

Trade between companies and consumers of the goods

Identification of the goods

Currency adjustment factor

A volume that is made by a cube that is 1 meter on each side.

Certificate of Origin of the goods

Delivered when goods is loaded onto vessel, port for delivery should be named. Consigner is responsible for insurance

Delivered when goods is loaded onto vessel, port for delivery should be named

Delivered when seller delivers goods to a carrier and a named place. Seller organise insurance.

Essentially a container is considered a COC container when the carrier (container liner or steamship line) owns the container and controls the majority of the entire transport chain.

Receiver of the goods

Conversion factor from cbm/LM to weight.

Carriage paid to (destination)

Delivered when goods is unloaded at named destination

Delivered when goods is unloaded at terminal at a given destination

Delivered when goods is ready to be unloaded at unloading destination

Loads shipped between continents

Rental fee at port in regards to containers

Container rental fee

Regulations on how to transport dangerous goods.

Goods shipped in large, unpackaged amounts, i.e. sand, cereals

Numerical system giving products a unique optical number

The computer-to-computer exchange of business documents in a standard electronic format between business partners.

Estimted time of arrival at a destination

Estimated time of departure of the goods in question

EUR-1 - needed to custom clear goods from within the EU

Seller fulfills his obligation to deliver when he has made the goods available at his premises

Delivered when goods is placed along side vessel

Delivered when goods is loaded onto transport of the consignee

Full container load

Feeders collect shipping containers from different ports and transport them to central container terminals where they are loaded to bigger vessels or further transport by truck or rail 

Unit equivalent of a forty foot container

Delivered when goods is loaded onto vessel

Weight converted out of volume

Additional cost for transport according to cost of fuel in the period the goods are transported

A preferential tariff system by developed countries to developing countries. It involves reduced MFN Tariffs or duty-free entry of eligible products exported to the markets of the developed countries.

House bill of Lading - issued by a forwarder/shipping agent

Less than container load. 1 TEU equals a 20 feet container

The shipping Lines own equipment, property etc

Loading meters - one meter of the truck's length, width and hight.

Lift on/lift off vessel using a crane

Master bill of Lading - freight document for shipping, issued by the shipowner

Notify party regarding the arrival of goods.      

Non Vessel Operating Common Carrier - do not own a vessel, but can issue B/L

Port the goods are delivered

Port the goods are loaded

A temperature controlled container

Roll on / Roll off the vessel with a truck

Emission control areas for shipping. There are specific emission limitations for shipping within these geographical areas. Shipping companies in these areas are required to use fuel that produces lower sulfur emissions than traditional fuel. The cost of this fuel is charged to the freight purchaser as a SECA supplement on the invoice

Sender of the goods

Equipment is property of the client, i.e. container

Loads shipped within a continent

A container is considered a “SOC” when the BCO, freight forwarder, or NVOCC organizes their own container. In other words, a SOC is a shipper owned container.

Additional cost according to safety risks involved

Company that loads and unloads vessels and containers in a port

Unloading of containers

Loading of containers

Measurement of containers. 1 TEU equals a 20 for container

Terminal Handling Cost

Harbour where containers are reloaded onto another vessel.

Valuable Cargo with demends for extra care when handling and packing

Verified weighing of containers - international regulation (SOLAS)

Calculation of W/M for Ocean Freight

Wet cargo shipped without packaging. For example oil