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Brush up on your international shipping vocabulary or find the definition for a specific shipping or customs term.

There are 807 entries in this glossary.
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Term Definition
Absorption

One carrier assumes the charges of another without any increasein charges to the shipper.

Amended B/L

B/L requiring updates that do not change financial status, thisis slightly different from corrected B/L.

AWWL

Always within Institute Warranties Limits (Insurance purpose).

B/L Terms &amp,Conditions

The fine print on B/L, defines what the carrier can and cannot do including thecarriers liabilities and contractual agreements.

B/Ls Status

represents whether the bill of lading has been input rated reconciledprinted or released to the customer.

BAF

 Bunker Adjustment Factor.Used to compensate steamship lines for fluctuating fuel costs. Sometimes calledFuel Adjustment Factor or FAF.

Balloon Freight

Light bulky articles.

Bank Guarantee

Guarantee issued by a bank to a carrier to be used in lieu oflost or misplaced original negotiable bill of lading.

Barratry

An act committed by the master or mariners of a vessel for someunlawful or fraudulent purpose contrary to their duty to the owners whereby thelatter sustain injury. It may include negligence if so gross as to evidencefraud.

Barrel (BBL)

A term of measure referring to 42 gallons of liquid at 600degrees.

Base Rate

A tariff term referring to ocean rate less accessorial chargesor simply the base tariff rate.

BB

Ballast Bonus Special payment above the Chartering price when the ship has tosail a long way on ballast to reach the loading port. Bareboat Method ofchartering of the ship leaving the charterer with almost all theresponsibilities of the owner.

BCO

Beneficial Cargo Owner. Refers to the importer of record whophysically takes possession of cargo at destination and does not act as a thirdparty in the movement of such goods.

Beam

The width of a ship.

Belt Line

A switching railroad operating within a commercial area.

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