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. |