Reference
Glossary
A working vocabulary for freight, chartering and customs — written for the people actually moving cargo.
- BAF
- Bunker Adjustment Factor — surcharge reflecting fuel cost movements.
- BCO
- Beneficial Cargo Owner — the actual importer/exporter of the goods.
- Bill of Lading (B/L)
- Contract of carriage and title document issued by the carrier.
- Bunker
- Marine fuel used by vessels.
- CBM
- Cubic meter — standard volumetric unit for LCL/air cargo pricing.
- Charter Party
- Contract between shipowner and charterer for use of a vessel.
- Container Yard (CY)
- Terminal area where containers are received, stored and dispatched.
- Demurrage
- Charge for keeping a container inside the terminal beyond free time.
- Detention
- Charge for keeping the container outside the terminal beyond free time.
- DGR
- Dangerous Goods Regulations — IATA rules for hazardous air cargo.
- ETA / ETD
- Estimated Time of Arrival / Departure.
- FCL / LCL
- Full Container Load / Less than Container Load.
- FEU / TEU
- Forty-foot / Twenty-foot Equivalent Unit — container capacity metric.
- Freight Forwarder
- Agent arranging transport on behalf of the cargo owner.
- HBL / MBL
- House Bill of Lading (forwarder) / Master Bill of Lading (carrier).
- IMO
- International Maritime Organization; also refers to dangerous goods classification.
- Incoterms®
- ICC rules defining seller/buyer responsibilities in international sales.
- ISPS
- International Ship and Port Facility Security Code.
- Laytime
- Time allowed for loading/discharging a chartered vessel.
- NVOCC
- Non-Vessel-Operating Common Carrier — issues its own B/L without owning ships.
- POD / POL
- Port of Discharge / Port of Loading.
- Ro-Ro
- Roll-on/Roll-off vessels for wheeled cargo.
- THC
- Terminal Handling Charges.
- Voyage Charter
- Charter for a specific voyage between named ports.
- Time Charter
- Charter for a period of time; charterer pays hire and fuel.
- WPS / WWD
- Weather Permitting Saturdays / Weather Working Days — laytime terms.