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Monday, January 7, 2013

Shipping Terms - Letter F

Maritime, Shipping and Commercial Terms,
Expressions, Abbreviations, Measuring Units, etc.
Dictionary of Shipping Terms

A B C D E F G H I J K L M N O P Q R S T U V W Y Z 

Features, Advantages, Benefits.
· Feature - facts about the product itself.
· Advantage - what it does.
· Benefits - rewards for the customer, its value.
Selling points which must be personalised (you, yours) for full effectiveness
Forwarding Agents Commission
Fuel Adjustment Factor
A navigable channel for vessels, often the prescribed route a vessel will follow to avoid danger.
Goto : Freight All Kinds.
Goto : Free Alongside Ship

Goto : Free Carrier
Goto : Full Container Load.
Federal Maritime Commission (FMC)
U.S. Government agency responsible for overseeing regulatory aspects of the Shipping Act.
The transportation vehicle utilised to relay cargo from mother vessel to ultimate destination, usually a small container vessel.
An appliance made of rubber, timber and/or rope or other materials normally attached to a dock or quay used to prevent damage to the hull of a vessel during operations.
Forty-foot Equivalent.
Goto : Forty Foot Equivalent Unit.
Freight Forwarder. Federally licensed (by FMC) company that handles documentation details for Shipper of export cargo (U.S.).
Fifth Wheel
Circular bearing mechanism, secured on the rear of the chassis of a truck that engages and locks the semi-trailer to the truck.
Financial Information Reporting
An indication of the country in which a vessel is registered.
Flag Waiver
Permission from government to carry cargo otherwise reserved for a particular flag Carrier.
Flash Point
The lowest temperature at which a commodity produces enough vapour to form a flammable mixture with air.
Goto : Flat Rack.
Flat Bed Trailer
A wheeled trailer or a semi-trailer with a flat cargo carrying surface.
Flat Car
Railroad car on which container or container/chassis is placed.
Flat Rack
A flat bed 20’ op 40’ container with fixed or collapsible ends suitable for the carriage of cargo of excessive width and plated for carriage of heavy loads.
A polythene "bag" which can be fitted inside a 20' container for the transportation of nonhazardous liquids.
Floating Crane
Heavy-duty cranes brought in to handle cargo when unable to use gantry crane. A crane mounted on a barge or pontoon, which can be towed or is self-propelled.
Floating Dock
A floating structure which can be partially submerged to enable vessels to enter and leave the structure for use as a dry dock.
Federal Maritime Commission. U.S. regulatory body affecting ocean-going Carriers. U.S. government body that oversees all maritime rules and regulations.
Number assigned by government identifying tariffs, trade agreements, and authorising a freight forwarder to operate.
Goto : Free On Board.
Force Majeure (Act of God)
Circumstances beyond the control of one of the parties to a contract which may, depending on the terms and conditions of the contract, relieve that party of liability for failing to execute such contract.
Fork Lift Truck
A mechanical truck with forks at the front designed for lifting, carrying and stowing cargo.
Forty Foot Equivalent Unit (FEU)
Unit of measurement equivalent to one forty foot container.
Forwarder (Freight Forwarder)
The party arranging the carriage of goods and connected services and/or associated formalities on a Shipper or Consignee's behalf.
Franc Poincare
Value unit in which the limitation of the Carrier's liability may be expressed. One franc Poincare consists of 65.5 milligram of gold with a fineness of 900/1000.
Amount which in case of damage is borne by the insured.
Free Alongside Ship (FAS)
Means that the seller delivers when the goods are placed alongside the vessel at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that moment.  The FAS term requires the seller to clear the goods for export.
Free Carrier (FCA)
Means that the seller delivers the goods, cleared for export, to the carrier nominated by the buyer at the named place. It should be noted that the chosen place of delivery has an impact on the obligations of loading and unloading the goods at that place. If delivery occurs at the seller's premises, the seller is responsible for loading. If delivery occurs at any other place, the seller is not responsible for unloading.  This term may be used irrespective of the mode of transport, including multimodal transport.
Free In and Out (FIO)
Transport term signifying that the freight rate excludes the costs of loading/discharging, stowage, and lashing.
Free In Liner Out (FILO)
Transport term signifying that the freight rate is inclusive of the ocean carriage and the cost of discharging, the latter usually as per the custom of the port. It excludes the cost of loading, stowage, and lashing.

Free On Board (FOB)
Means that the seller delivers when the goods pass the ship's rail at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point.
The FOB term requires the seller to clear the goods for export. This term can be used only for sea or inland waterway transport. If the parties do not intend to deliver the goods across the ship's rail, the FCA term should be used.
Free Pratique
Permission granted by local medical authorities, meaning that the vessel has a clean Bill of Health allowing people to embark and disembark.
Free Time
Storage allowed at Carrier facility without penalties assessed.
The amount of money due for transporting the goods, payable either in advance or upon delivery.
Freight All Kinds (FAK)
Single freight which is charged irrespective of the commodity.
Freight Cashier
Responsible for collections of freight/charges/release of cargo/release of Bills of Lading.
Freight Claim
Formal letter with supporting documents, i.e., B/L, D/R, temperature chart, etc., making claim against Carrier for lost or damaged cargo.
Freight Collect
Freight and charges be paid at destination (by the Consignee).
Freight Forwarder
Goto : Forwarder.
Freight Invoice
An itemised list of cargo shipped and services rendered listing charges involved.
Freight Manifest
A summary of cargoes stating all freight particulars.
Freight Prepaid
Freight and charges to be paid by the Shipper.
Freight Ton
A unit for freighting cargo according to weight and/or cubic measurement.
Freighted B/L
A Bill of Lading that lists all charges pertaining to cargo movement from origin to destination.
A vessel used for the carriage of cargo.
Full Container Load (FCL)
A container stuffed or stripped under risk and for account of the Shipper and/or the Consignee.
Fully Cellular Containership
A vessel specially designed to carry containers, with cell-guides below deck and necessary fittings and equipment on deck.
Treating of cargoes with gases to exterminate vermin.
Tags: Glossary, Dictionary, Explained, Define, Meaning, Description.
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