Freight, shipping and chartering glossary

Term Meaning
Safety stock Reserve stock, below which the level of stocks for this product should not fall.
Salvage material Unused material that has a market value and can be sold.
Scrap material Defective material that has no market value and cannot be sold.
Screening charge Surcharge related to airport terminal screening.
Sea Waybill 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.
Security Filing The importer or their agent is required to electronically submit information relating to the shipment. This term is used in the USA.
Separable cost A cost that a company can directly assign to a particular segment of the business.
Service The defined, regular pattern of calls made by a carrier in the pick-up and discharge of cargo.
Service Contract 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.
Ship agent An authorized person (individual or firm) performing certain actions on behalf of another person (principal) on his behalf and in his interests.
Shipbroker An intermediary that facilitates the execution of retail transactions between interested parties (customers) on their behalf and at their expense.
Shipment A load of goods sent by sea, road, train, or air.
Shipment Point A specific location from where goods will depart for movement.
Shipper's agent A firm that primarily matches up small shipments, especially single-traffic piggyback loads, to permit shippers to use twin-trailer piggyback rates.
Shipper’s Letter Of Instruction (SLI) A note from the exporter to the freight forwarder with instructions on how a shipment is being sent and where it is going.
Shipping Quote A document that breaks down the individual legs of a shipment and the surcharges each will incur, as per your freight quote.
Shipping Types Different levels of service that you will use to fulfill your orders.
Special Customs Invoice 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.
Spot Voyage A charter for a specific vessel to move a single cargo between indicated loading port(s) and discharge port(s) in the near future.
Stevedore Specialized organizations and firms engaged in loading and unloading ships.
Storage Cost of storing cargo in an off-site warehouse.
Stowage 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.
Stripping Surcharge associated for breaking down a container.
Surcharge 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.