Glossary of shipping terms

Shipping Terms Glossary
 Bill of Lading (B/L) - Document serving three
functions:
 (1) receipt for cargo prepared by the shipper
and signed by the carrier;
 (2) 'document of title' to the cargo i.e. proof of
ownership; and
 (3) provides evidence of terms and conditions
of the contract of carriage of cargo by sea.

 Air Waybill -A no-negotiable instrument of
domestic and international air transport that
functions as a bill of lading, all information
described about domestic and international
trade.

 Charter Party - document containing details of the
fixture of the chartered vessel. Standard form
charter parties for various trades are normally used,
but some charterers use private forms.
 Deadfreight - freight payable on cargo space
booked but not actually used.

 ETA - Estimated Time of Arrival (of vessel).
 ETD - Estimated Time of Departure (of
vessel).
 ETR - Estimated Time of Readiness.
 FIO - Free In and Out - confers the
responsibility to the charterers (shippers /
receivers) to arrange the stevedores and to
load / discharge the cargo on their own
account ie free of expense to vessel owners,
who are still accountable for port charges

 Blank Endorsement The method whereby a bill
of lading is made into a freely negotiable
document of title.
 Blanket Bond -A bond that coves a group of
people, articles or properties.
 Blanket Contracts -A long-term contract in
which the supplier promises to re-supply the
buyers as needed at agreed-upon prices over
the contracting time

 SATSHEX - Saturdays, Sundays & Holidays
Excluded.
 SB - Safe Berth - a berth, which the vessel can
reach and depart from without being exposed to
danger that is unavoidable by good seamanship.
It is the responsibility of the charterrer to provide
this.
 SF - Stowage Factor - used to determine whether
a vessel's holds will be filled before the vessel
reaches its maximum draught. The SF for coal,
depending on type, is between 37 and 48 cubic
feet per long ton.

 SHEX - Sundays & Holidays Excluded.
 SP - Safe Port - as Safe Berth except relates
to port.
 WWD - Weather Working Days - working days
in which it is possible to load/discharge cargo
without the interference of weather.

 A.M.I. - Absolute maximum loss
 A.M.V.E.R. - Automated Mutual-Assistance Vessel Rescue
 A.O. Voy. - Any one voyage
 A.O.B. - Any one bottom
 A.O.E. - Any one event
 A.O.L. - Any one loss
 a.o.loc. - Any one location -
 A.O.O. - Any one occurrence
 A.O.R. - Any one risk
 A.O.V. - Any one vessel
 A.P. - Additional premium
 A.P.L. - As per list
 A.R. - All risks

 A.T.L. - Actual total loss
 A/C - Account current
 A/o - Account of
 A/P - Additional premium
 A/R - All risks. Against all risks
 A/S - "After sight, Account sales, Alonside
(chartering)"
 A/T - American terms (grain trade)
 A/v - "Average, ad valorem (according to
value)"

 Bunkers - term for fuel used by a vessel.
 Bunker Clause - Time Charters stipulate that
charterer accepts & pays for all fuel on the
vessel at port of delivery; on redelivery owner
shall pay for any fuel remaining on board.
 Bunker Escalation / De-escalation Clause -
in a COA it is sometimes usual to link freight
rate to market price of bunkers at time of
fixing, in order to adjust freight rate in line with
bunker price movements at time of each
shipment.

 Force Majeure - circumstances beyond
reasonable control of the party/parties.
 Free Pratique - clean bill of health for ship
and crew.
 Freight - the money paid on a Voyage
Charterby the charterer to the owner.
 Gearless - a ship without means on board for
the loading/unloading of cargo.

 Trip Time Charter - fixture whereby charterer
hires vessel for single voyage or round trip;
terms and conditions similar to Time Charter.
 Turn Time (TT) - time allowed in the charter
party, after NORtendered and before laytime
commences. Usually quoted in hours.
 Voyage Charter - fixture whereby the
charterer pays a rate per ton loaded or on a
lump sum basis.

 Aboard -Referring to cargo being put, or laden,
onto a means of conveyance.
 Ad ValoremA term from Latin meaning,
“according to value.” Import duty applied as a
percentage of the cargo’s dutiable value.

 Anti–Dumping DutyA tariff imposed to
discourage sale of foreign goods,
subsidized to sell at low prices detrimental
to local manufacturers.
 Any Quantity (A.Q.)Usually refers to a
rating that applies to an article regardless
of size or quantity.
 Apparent Good OrderWhen freight appears
to be free of damage so far as a general
survey can determine.

 Stale B/L: • A late B/L; in banking, a B/L
which has passed the time deadline of the
Letter of Credit (L/C) and is void.
 Straight (Consignment) B/L: • Indicates the
shipper will deliver the goods to the
consignee.It does not convey title (non–
negotiable).Most often used when the goods
have been pre–paid.

 Bonded WarehouseA warehouse authorized by
Customs authorities for storage of goods on
which payment of duties is deferred until the
goods are removed

 CargoFreight loaded into a ship.
 Cargo ManifestA manifest that lists all
cargo carried on a specific vessel voyage.
 CFSAbbreviation for “Container Freight
Station.” A shipping dock where cargo is
loaded (“stuffed”) into or unloaded
(“stripped”) from containers

Glossary of shipping terms

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Glossary of shipping terms