General terms and abbreviations
AI - All In - The total price to move cargo from origin to destination, inclusive of all charges.
B/L - Bill of Lading (B/L) - A document that establishes the terms of a contract between a shipper and a transportation company. It serves as a document of title, a contract of carriage and a receipt for goods.
BAF – Bunker Adjustment Factor. Used to compensate steamship lines for fluctuating fuel costs. Sometimes called "Fuel Adjustment Factor" or FAF.
BONDED WAREHOUSE – A warehouse authorized by Customs authorities for storage of goods on which payment of duties is deferred until the goods are removed.
BOOKING NOTE - Arrangements with a carrier for the acceptance and carriage of freight; i.e., a space reservation.
BREAK BULK – -To unload and distribute a portion or all of the contents of a rail car, container, or trailer. Loose, non-containerized cargo.
CAF - Currency Adjustment Factor. A charge, expressed as a percentage of a base rate, that is applied to compensate ocean carriers of currency fluctuations.
CBM - Cubic Meter (m3).
CFS - Container Freight Station. A shipping dock where cargo is loaded ("stuffed") into or unloaded ("stripped") from containers. Generally, this involves less than containerload shipments, although small shipments destined to same consignee are often consolidated. Container reloading from/to rail or motor carrier equipment is a typical activity.
COC – Carrier owned container
CONSIGNEE - A person or company to whom commodities are shipped.
CUT OFF TIME - The latest time cargo may be delivered to a terminal for loading to a scheduled train or ship.
CY - Container Yard. The designation for full container receipt/delivery.
DC – Dry container
DEMURRAGE - A penalty charge against shippers or consignees for delaying the carrier's equipment beyond the allowed free time. The free time and demurrage charges are set forth in the charter party or freight tariff. (See also Detention and Per Diem)
ETA - - Estimated Time of Availability. That time when a tractor/partner carrier is available for dispatch. Estimated Time of Arrival.
ETD - Estimated Time of Departure
FCL - Full Container Load."
FEEDER - A short-sea vessel which transfers cargo between a central "hub" port and smaller "spoke" ports.
FEU - Forty-Foot Equivalent Units. Refers to container size standard of forty feet. Two twenty-foot containers or TEU's equal one FEU.
FI - Cost of loading a vessel is borne by the shipper.
FO - Cost of unloading a vessel is borne by the charterer.
FOR - Free on Rail.
FR - Flat rack container
GRI – Abbreviation for "General Rate Increase." Used to describe an across-the-board tariff rate increase implemented by conference members and applied to base rates.
IN-BOND - Cargo moving under Customs control where duty has not yet been paid.
LCL - Less than Container Load. The quantity of freight which is less than that required for the application of a container load rate. Loose Freight.
MT - Metric Ton.
NVOCC - Non-Vessel Operating Common Carrier (NVOCC) . A cargo consolidator in ocean trades who will buy space from a carrier and subsell it to smaller shippers. The NVOCC issues bills of lading, publishes tariffs and otherwise conducts itself as an ocean common carrier, except that it will not provide the actual ocean or intermodal service.
OT – Open top container
POD - Port of Discharge, Port of Destination, Port of Delivery.
POL - Port of Loading.
RF – Refrigerate container.
SHIPPER - The person or company who is usually the supplier or owner of commodities shipped.
SOC – Shipper owner container
TEU - Twenty foot equivalent unit (containers)
THC – Terminal Handling Charge
TRANSHIPMENT - Place where cargo is transferred to another carrier.
WAY BILL – A document prepared by a transportation line at the point of a shipment; shows the point of the origin, destination, route, consignor, consignee, description of shipment and amount charged for the transportation service. It is forwarded with the shipment or sent by mail to the agent at the transfer point or waybill destination.
WM - Weight or Measurement - the basis for assessing freight charges. Also known as "worm." The rate charged under W/M will be whichever produces the highest revenue between the weight of the shipment and the measure of the shipment.
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