SEA SHIPPING TERMS

1- NVOCC:

A Non-Vessel Operating Common Carrier is a freight forwarder who doesn’t own a vessel

2- CO-LOADER :

A co-loader is a third party whit consolidates the cargo of two or more LCL shipments in a container before handing it over to an ocean carrier.

3- FORWARDER :

A freight forwarder is a company that serves as an intermediary between transportation companies that import and export goods and the businesses that need them.

4- BILL OF LANDING :

This is a document that a carrier issues to whoever is shipping the goods. It simultaneously serves as a receipt, a contract, and a title of ownership

Master B/L
House B/L

5- CHARTERING :

Chartering is an activity within the shipping industry whereby a shipowner hires out the use of their vessel to a charterer

6- BULK CARRIER :

A merchant ship specially designed to transport unpackaged bulk cargo — such as grains, coal, ore, steel coils, and cement — in its cargo holds

7- BROKER :

Shipbrokers are the middlemen who make shipping happen. They negotiate deals between shipowners and the charterers who arrange the movement of goods and products and between the buyers and sellers of ships.

8- Roll On, Roll Off (RO/RO) :

This term refers to a class of ships designated to carry wheeled cargo, such as automobiles, trucks, farm/construction equipment, and railroad cars. These ships have built-in ramps that allow wheeled cargo to be moved on and off of the vessel with ease.

LOADING TERMS

Free In (FI) :

In international ocean freight terminology the word “Free” means “Not included”. I.e. if FI, then the shipper is responsible for the cost of loading goods onto a vessel for international shipping overseas.

Free Out (FO) :

is the international shipping term in ocean freight that indicates that the consignee (recipient) is responsible for the cost of unloading cargo from the vessel at the destination.

LINER IN (LI) :

Means that the shipping costs belong to the ship owner.

LINER OUT (LO) :

Means that the unloading cost belongs to the ship owner.

STUFFING :

Stacking, placing load to container

UNSTUFFING :

Emptying the container

STEVEDORING :

Ship loading and unloading service

PORT TERMS

1-STORAGE :

Storage in port / Warehouse

2- DEMURRAGE :

Exceeding the loading and unloading process or withdrawing cargo in container from the custom and not unload before deadline

3- FREE TIME :

The time the load can wait without demurrage, demurrage is applied when the times up.

4- Terminal Handling Charge (THC) :

Cost of handling in port

FREIGHT TERMS

1-CAF (Currency Adjustment Factor) :

is a surcharge levied in addition to freight and customs charges on imports from certain Asian countries. The CAF is intended to compensate for currency fluctuations between those nations’ currencies and the U.S. dollar that may affect shipping rates.

2- BAF (Bunker Adjustment Factor) :

BAF is an additional surcharge levied on the ship operators to compensate for the fluctuations in the fuel prices

3- WAR RISK SURCHARGE (WRS) :

Extra Charge in case of risks of war in a zone where the ship crosses or calls

4- HIGH CUBE SURCHARGE :

Additional fee for Hıgh Cube Container.