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Tuesday, June 11, 2013

Dictionary of Shipping Terms

Glossary
of
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 X Y Z 

ABS
See: American Bureau of Shipping.

Absorption
The assumption by the carrier of switching or other special charges without increasing the rate to the shipper.

Acceptance of Goods
The process of receiving a consignment from a Shipper, usually against the issue of a receipt (B/L), when the Carrier's responsibility for the consignment begins.

Accessorial
Charges made for additional, special, or supplemental services, normally over and above the line-haul services.

Account Base
List of all accounts in a sales region.

Account Profile
Projection of an account’s upcoming volume along with such account’s shipping requirements.

Acknowledgement of receipt
A notification pertaining to the receipt of goods, messages or funds.

Act of God
Accidents beyond human control such as floods, earthquakes, lightning or hurricanes, usually referred to as "force majeure".

Ad Valorem
In proportion to the value: When applied to certain freight or customs duties levied on goods, property, etc. set as a percentage of their value. When a Shipper desires to be covered for a valuation in excess of that allowed by the Carrier’s regular Bill of Lading, freight is assessed based on cargo value.

Add-ons
Additional charges.

Aft
The rear of a vessel.

Agency
An organisation working on behalf of a principal. Company whom represents/acts on behalf of another entity.

Agency Fee
Fee payable by a shipowner or ship operator to an agent.

Aggregated Shipments
Numerous shipments from different shippers to one consignee that are consolidated and treated as a single consignment.

AI
All Inclusive

A I D A
Attention, Interest, Desire, Action. Four elements of sales call

Air Freight Forwarder
A non-asset based firm that negotiates low shipping rates with airlines and then takes orders at a higher rate in order to make a profit, using the other company's assets to move the product.

All-in
All Inclusive

Allocation
The process of allocating space on a particular vessel (or vessels) to a certain organisational unit.

Allotment
A share of the capacity of a vessel assigned to a certain party, e.g. a Carrier or an agent, for the purpose of the booking of cargo for one or several specific voyages.

All-Water
Service rendered by Carriers on a port-to-port basis; cargo moving via ocean Carrier only.

AMS
Automated Manifest System

American Bureau of Shipping (ABS)
American classification society.

Amidships
The middle of a vessel.

Anti-Rebating Certification
Document signed by shipping companies and filed with the Federal Maritime Commission and in ocean tariffs attesting that rebates are not allowed and will not be paid by such company.

APG
Arabian Persian Gulf

APM
A. P. Muller

AQ
Any Quantities, usually refers to a rating that applies to an article regardless of weight.

AQI
Agriculture Quarantine Inspection.

Arbitrary
A fixed amount which a transportation line agrees to accept in a dividing joint rate; A fixed amount added to or deducted from one station to make a rate from another station; A fixed amount added to or deducted from a rate to one station to make a rate to another station An allowance added to an employeeґs rate of pay in additional to regular wages, based on provisions included in the union contract.

Arrival Notice (A/N)
Documentation that notifies Consignee of arrival information and freight charges due. Form produced by Carrier for advanced notification to Consignee of cargo arrival.

Artificial Tween Deck (ATD)
Forty-foot long, eight foot wide, one foot thick steel platform with hardwood flooring. Equipped with ten bullrings for securing oversized, heavy lift or wheeled cargo.

As Freighted
All cargoes freighted on same unit; W/M.
Asset-Based, Third Party Provider
A third-party provider that owns transportation and/or warehouse assets.
Assignment
An act which involves transfer of rights, title, and interest for the purpose of assigning goods by endorsement of the bill of lading.
Athwartships
Across the vessel, from side to side.

Audit
A methodical examination and review of business processes and/or business units, concluding with a detailed report of findings.

Average
Marine insurance term for losses or damages to or in respect of goods or equipment.
Average Adjusters
In general average matters average adjusters are entrusted with the task of apportioning the loss and expenditure carried by interested parties in a maritime venture and to determine which expenses are to be regarded as average or general average.

Average Inventory
The average inventory level over a period of time.

Tags: Glossary, Dictionary, Explained, Define, Meaning, Description.

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