Freight, shipping and chartering glossary

Reserve stock, below which the level of stocks for this product should not fall.

Unused material that has a market value and can be sold.

Defective material that has no market value and cannot be sold.

Surcharge related to airport terminal screening.

Transport document used in shipping. The cargo is issued to a specific consignee specified in the sea waybill if he can document his identity, and at the same time, he doesn’t need to present his original copy of this waybill.

The importer or their agent is required to electronically submit information relating to the shipment. This term is used in the USA.

A cost that a company can directly assign to a particular segment of the business.

The defined, regular pattern of calls made by a carrier in the pick-up and discharge of cargo.

A contract to optimize the flow of services provided by enterprises to consumers, rendered to each other by partners in the supply chain, as well as intra-company flows.

An authorized person (individual or firm) performing certain actions on behalf of another person (principal) on his behalf and in his interests.

An intermediary that facilitates the execution of retail transactions between interested parties (customers) on their behalf and at their expense.

A load of goods sent by sea, road, train, or air.

A specific location from where goods will depart for movement.

A firm that primarily matches up small shipments, especially single-traffic piggyback loads, to permit shippers to use twin-trailer piggyback rates.

A note from the exporter to the freight forwarder with instructions on how a shipment is being sent and where it is going.

A document that breaks down the individual legs of a shipment and the surcharges each will incur, as per your freight quote.

Different levels of service that you will use to fulfill your orders.

In addition to a customs invoice, some countries require a special customs invoice designed to facilitate the clearance of goods and the assessment of customs duties in that country.

A charter for a specific vessel to move a single cargo between indicated loading port(s) and discharge port(s) in the near future.

Specialized organizations and firms engaged in loading and unloading ships.

Cost of storing cargo in an off-site warehouse.

The placing of goods in the cargo areas of ships with the aim of leveling it or stuffing under-deck voids. It is usually used when loading bulk and break bulk cargo.

Surcharge associated for breaking down a container.

An add-on charge to the applicable charges; motor carriers have a fuel surcharge, and railroads can apply a surcharge to any joint rate that does not yield 110 percent of variable cost.