________________________________ Photo credit: Copyright: dizanna / 123RF Stock Photo. Consists of a base and two ends of the same dimensions as an ISO container. Its correct use now is only where the ship's rail is relevant to the transaction, such as when using a chartered ship, or when goods are not containerized. (See also House B/L and Master B/L). (See also Letter of Credit). It is issued by the carrier, whether an airline or a freight forwarder, as a non-negotiable document serving as a receipt to the consignor for the goods, and containing the conditions of transport. Letter of Credit - IrrevokableA credit which cannot be revoked, canceled or amended unless the beneficiary agrees. Additional information including fuel surcharges, holiday schedules and information for processing your UPS Freight shipment. An agreement by an ocean carrier to provide cargo space on a vessel at a specified time and for a speci- fied price to accommodate an exporter or importer. VolumetricA notional or calculated weight for bulky goods sent by air. ManifestA list of the various shipments being carried on a ship or aircraft. Will these solutions ease delays at Ports? FAKFreight All Kinds, as a general description of the goods on a master B/L, covered under the one freight rate regardless of the nature of the individual goods. So if your freight needs to travel from China to the East Coast of the United States it would need to travel through the Panama Canal to reach its final destination. Panama Canal Expansion – How is it impacting shipping? It covers crane lifts off the vessel as well as drayage of the container and gate fees at the terminal. If you are new to shipping terms contracts you may be unaware of the different trading practices in their respective countries. An example of these would be: CIF (cost insurance and freight) and CFR (cost and freight) both require the buyer to get the goods to the destination port, while absorbing all the costs and responsibilities. BL Fee: Bill of Lading Fee – The shipping line charges this fee for processing the bill of lading on behalf of their client. goods, freight planning is an important component of the statewide and metropolitan planning process. The land between the two ports is the “land bridge.”. T/TTelegraphic transfer, an electronic means of transferring funds between banks, generally using SWIFT. Terms & Conditions - Ocean Freight Terms & Conditions - Ocean Freight SEKO Worldwide, LLC NVOCC BILL OF LADING – TERMS AND CONDITIONS. What is Intermodal Transportation and When is it the Best Choice? A term used in marine transportation referring to the time it takes between arrival of a ship and its departure. RIPI Reverse Inland Point Intermodal – This is similar to IPI except it applies when a shipment is traveling back toward its point of origin. ConferenceA group of shipping companies who have associated to offer regular services on specific routes at published rates. The seller has to bear the risks and all costs and other charges of delivering the goods thereto, but not including duties and taxes. However, be aware of any extras, for example, additional fees charged for the forwarding service. All Risk: A type of Marine Insurance, which is the widest coverage. This term very specifically requires the carriage of the goods in a "seagoing vessel". Flag international ocean freight carriers by U.S. Department of Transportation are in, FCL: Full Container Load. They are trading vessels primarily used to carry heavy items, like fruit, fresh water, or merchandise. Exchange RateThe price of one currency in terms of another. This term may be used for all modes of transport. This particular charge represents the fluctuating costs to the shipping, as an example varying global oil prices. Goods shipped loose in the vessel hold and not in a container. How to Get a Job in Transportation or Logistics. Incoterms are organized by modes of transport, either any mode or modes of transport and sea and inland waterway transport terms. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. This fee is payable to a shipping line for receiving a full container load, storing it, and delivering it. This term describes a type of intermodal freight involving ocean and truck or rail to move a shipment from one port to another. Customs DutyA tax, duty or tariff levied at the time of import upon goods entering a country. Afloat: The condition of a vessel which is floating freely (not aground or sunk). Common term for an ocean-going freight container. Freight that has not been called for or picked up by the owner or ultimate consignee. This term can only be used for sea or inland waterway transport and its correct use is only when using a chartered ship, or when goods are not containerized. This term is for land transport only. Overcoming the Complexities of International Freight. What You Need to Know About Shipping Hazardous Materials. Generally stated as 6000cm3 = 1 kg, meaning that the total volume in cubic centimeters is divided by 6000 to give an equivalent weight in kgs. CertificateA general term for any document issued by the seller or another party, certifying to some action has taken place or some fact about the goods. This is generally used by the Customs authorities in the importing country to assess customs duties payable. For example, a 40-foot container takes up the space of two TEUs. Bill of ExchangeAn unconditional order in writing, issued by the seller (drawer) instructing the buyer (drawee) to pay the seller's bank (payee) a specified amount (normally the full invoice value) on demand (at sight) or at a fixed or determinable future time. F. FAS (Free Alongside Ship Incoterm) FCA (Free Carrier Incoterm) FCL (Full Container Load) FOB (Free On Board Incoterm) Forty-Foot Equivalent Unit (FEU) This term can only be used for sea or inland waterway transport. FOB Free On Board (named port of shipment) - IncotermsThe seller fulfills his obligation to deliver when the goods have passed over the ship's rail at the named port of shipment. How does the online freight calculator work? The seller has to bear the risks and all costs, including duties, taxes and other charges of delivering the goods thereto, cleared for importation. An example of this is freight that is transported via water from the West Coast to the East Coast of the United States and then by truck or rail to Ohio. I.e. Successful 3PL Selection and Relationships, Minimize the impact of DIM pricing on your budget, DIM Weight and how to minimize its impact, Weight and Research Inspections What they are and… how to reduce their impact on shipping costs, NMFC changes effective 4/18/15 - Concealed Damage window reduced to 5 days. How Will You Benefit From Intermodal Transportation? Can be inland or at the dock-side. ISF: Importer Security Filing – A US Customs and Border Protection (CBP) regulation requiring importers and vessel carriers to provide data electronically to CBP for in-bound ocean shipments. SWIFTSociety for Worldwide Inter-bank Financial Telecommunications, whereby banks can electronically transfer funds, issue L/Cs, etc. DDU Delivered Duty Unpaid (named place of destination) - IncotermsThe seller fulfills his obligation to deliver when the goods have been made available at an agreed point at the named place in the country of importation. A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | | W | Y | Z. CSA—Concerns expressed… So what’s happening now? Shared truckload (STL) A freight mode that enables several shippers to share trailer space in one multi-stop full truckload. Customs BrokerA person or corporation licensed by the Australian Customs Service to handle on behalf of importers the process of clearing goods through customs. GAS: Gulf of Aden Surcharge – Compensates shipping lines for additional costs incurred due to transit through the Gulf of Aden. This means goods are to be delivered to the port of embarkational, but without loading fees. Finddivers.com; Shipyards.gr; Shipsafety.gr; Marinesoft.gr; Our Services; Technical Library; RSS; Login Also shown sometimes as 167 kg = 1 cbm, More international shipping terms and list of U.S. Documentary CollectionA method whereby the seller uses the services of his bank to ensure that the buyer only receives the shipping documents under conditions specified by the seller, ie upon payment, or upon acceptance, of the seller's bill of exchange. Electronic Logging Devices - The New ELD Requirement. Knowing these terms can also have an impact on important shipping related decisions. Non-conference shipping lines are sometimes referred to as independent or outsiders. MLB: Mini Land Bridge – IPI and MLB are used interchangeably on occasion. Freight ForwarderA person or corporation who arranges transport of goods on behalf of either the seller or buyer. What is a Forwarding Agent for International Freight? USEC: United States East Coast – This term applies to all ocean ports along the East Coast of the United States. ISPS: International Security Port Surcharge – These are for security of both your container and the vessel while they are at the port. "Our mission, is to service our valued clients by providing quality freight carrier options, at cost competitive rates and excellent service levels, all while providing … URC522Uniform Rules for Collections, International Chamber of Commerce publication 522, which lays out guidelines for banks to follow when handling Collections. The generic name of a number of traditional sailing vessels with one or more masts with lateen sails used in the Red Sea and Indian Ocean region, typically weighing 300 to 500 tons, with a long, thin hull. Below are some of the most common ocean freight routing terms. MLB: Mini Land Bridge – IPI and MLB are used interchangeably on occasion. It also shows the details of the consignee so that they can be contacted on arrival of the goods. Is There Blockchain in Your Future Supply Chain? CharterpartyA written contract between a shipowner and a charterer who rents use of the ship or part of its freight capacity. BAFBunker Adjustment Factor - an adjustment to shipping companies' freight rates to take into account fluctuations in the cost of fuel oil (bunkers) for their ships. ConsolidationWhere a freight forwarder groups, or consolidates, one or more shipments for one or more shippers to the one destination as one overall shipment. Net WeightThe weight, or mass, of the goods themselves without any packaging. Tips to make your tradeshow freight shipping go smoothly, Seven Factors Affecting Freight Transportation Today. The term represents the minimum obligation for the seller. This term very specifically requires the carriage of the goods in a "seagoing vessel". 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. They include Seattle, San Francisco, Oakland, Long Beach/Los Angeles, and more. Many other countries use the CIF value at the time or declaration in the importing country. – those are names of steamship lines (or ocean carriers). RO-ROA "roll-on/roll-off" ship, where loaded transport vehicles are driven onto it, such as a car ferry, or where containerized and other cargo is loaded into it by forklifts or similar. An individual, partnership or corporation which arranges transportation service for client companies. Abbreviations they use include EXW (Ex Works), FCA (Free Carrier), CPT (Carriage Paid To), CIP (Carriage and Insurance Paid To), and more. Air warmed by the container cargo delivered to the evaporator. Signed by the carrier, whether a shipping line or a freight forwarder, it serves as a receipt to the consignor for the goods, as evidence of the contract of transport containing the conditions of transport, and as a document of title by which possession of the goods can be transferred. You can learn more about Incoterms by going to this page on Export.gov. THCTerminal handling charge, levied by CY and CFS operators for goods passing through their operations. Small Parcel Shipping Versus Freight Shipping – How Do You Decide? CAFCurrency Adjustment Factor - an adjustment to shipping companies' freight rates to take into account the effect over time of fluctuations in currency exchange rates. FCA Free Carrier (named place)- IncotermsThe Seller fulfills his obligation to deliver when he has handed over the goods, cleared for export, into the charge of a carrier, or another person, named by the buyer at the named place or point. Although the seller agrees to pay all costs and freight to the port of destination, his responsibility for delivery ends when the goods have been delivered on board the overseas vessel at the port of shipment. Will there be overtime for the trucking industry? This is not meant to be an Copyright 2021 American Group. U.S. trucking services are provided by Flexport International, LLC, a FMCSA licensed property broker USDOT #2594279 and MC #906604-B. Packing ListA document which details the contents, and often dimensions and weight, of each package or container. When you see an ocean container that says Maersk, Evergreen, OOCL, etc. CYRC: Container Yard Receiving Charge – Also known as CYC (Container Yard Charge) or a Terminal handling charge. This term may be used for all modes of transport. Agents are not normally involved in delivery or servicing of product. ERS: Equipment Repositioning Surcharge – This fee is imposed for the movement of empty containers from one location to another when requested by a shipper. Our Websites. CFSContainer Freight Station - place or depot where individual LCL cargo is loaded into, and unloaded from, containers. Cost, insurance, and freight (CIF) is an expense paid by a seller to cover the costs, insurance, and freight of a buyer's order while it is in transit. 'the company has 10 ships afloat'. Sight DraftA bill of exchange drawn "at sight" meaning that as soon as the drawee accepts the bill it falls due for payment. OCEAN FREIGHT: It is the cost of shipping a container from one point to another. What Costs are Included in a Freight Quote? For more information on NVOCC services, access the UPS NVOCC Terms and Conditions. TEUA twenty-foot equivalent unit, the means of describing the carrying capacity of a train or ship. Being based on FCA, this term may be used for any mode of transport. 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