Freight, shipping and chartering glossary

Term Meaning
Back Haul Return of the unladen vehicle, which delivered to one point.
Back order The case when the company accepts an order for goods which currently not available. The order will be completed when the goods become available.
Backfreight A person who own ships can receive disbursement as reimbursement for cargo for goods which was returned back through the fault of consignees or consignors. This payment calls backfreight.
Balance of Trade The ratio of the prices of goods exported by a country to the prices of goods imported into it for a certain period of time.
Bale Bulk compressed bound and most often packaged bundle of goods: such as hay or cotton.
Barge A cargo vehicle in which its autonomous driving mechanism for moving goods may or may not be present. In most cases, inland water vessels use main barges with open tops, but there are not only open but also indoor barges for dry or liquid content. Barges can be joined together and pushed or pulled by tugboats carrying content weighing sixty thousand tons or more. Not very large barges for transporting goods between ship and land are called "lighters".
Barratry Actions committed by the master or other personnel of the vessel for any illegal or criminal purpose, contrary to their obligations to the owners of the vessel, resulting in injury to the owners of the vessel. This includes inattention and negligence if it is as serious as a crime with proofs.
Barter Receiving something by an agreement that the payment will not be money, but the provision of any services or exchange for other goods.
Base Currency A type of currency whose value is considered as "one" in cases where the quote is between two types of currencies.
Basing-point pricing A system by which pricing is carried out, which incurs the cost of transporting goods from one point to another, even in cases where delivery does not occur at the point of basing.
Batch picking Collecting items from a warehouse for several (more than one) orders.
Beneficial Cargo Owner (BCO) This is an importer who gains control of the cargo using its own logistics assets instead of using a third-party source such as a forwarder or NVOCC.
Benefit-cost ratio The analytical technique used in state planning; a ratio of total measurable benefits divided by initial costs.
Bill of Lading, Through Consignment that covers goods from the point of departure to the final destination, when an exchange or transfer from one carrier to another is necessary to complete the trip.
Billable Weight Weight is taken as a basis when the price is generating.
Billing The operator terminal, which indicates the desired rate, calculates how much the delivery will cost and generates a freight bill.
Binder A piece of cardboard, thin wood, or similar material that is inserted between the layers of containers to wait and hold a single stack.
Blanket rate A tariff that does not increase due to the distance over which delivery is carried out.
Blind shipping When one or more parties don't know who the shipper is, whose receiver is, or both are.
Bond, In The goods in storage are transported in customs regime under customs control or until payment of import duties or some other fees, or to avoid payment of duties or fees until a later date.
Bonded Goods Imported goods are stored in the so-called customs warehouse, which is a gateway where the goods can be stored for some time without payment for storage and duties.
Bonded trucking Trucking charge for shipments to a Free Trade Zone.
Bonded warehousing One of the types of warehousing in which organizations store goods without makes payment of taxes and do not consider tariffs. The warehouse manager contacts himself with a tax or tariff collection agency to ensure that taxes are paid before the warehouse releases the goods.
Booking Request for a place and equipment on board the vessel for the cargo that needs to be transported.
Booking Confirmation Booking confirmation is a receipt.
Booking Fee Additional costs that the agent adds to the tariff.
Booking Number A kind of number that is assigned to a particular place of booking by the carrier or carrier agent.
Boxcar A boxcar, typically forty to fifty feet long, used to pack bulk goods.
Bracing To ensure delivery within the carrier’s vehicle to prevent damage.
Break Bulk Cargo Goods that are shipped as a single unit or package (for example: cargo on pallets, piece goods, bulky equipment, trucks), but not in the container.
Break Bulk Vessel Bulk cargo ship.
Break-bulk Separation of consolidated cargo into separate small batches for delivery to the final recipient. The cargo can be moved entirely inside the trailer, or it can be replaced and transferred to the connecting carriers.
Broker There are several definitions of this term 1) An organization that owns or rents equipment 2) An enterprise that helps to buy or rent services or goods 3) An agent who works for the shipowner or charterer in chartering.
Buffer Stock A quantity of goods or articles kept in storage to safeguard against unforeseen shortages or demands.
Bunker Adjustment Factor Ocean fuel surcharge.
Business logistics A special process in which planning, implementation and verification of the flow of goods, services and other similar information is provided.
Buyer Organization that is engaged in the acquisition of any goods or services.