Glossary
of
Maritime, Shipping and Commercial Terms,
Expressions, Abbreviations, Measuring Units, etc.
ABS
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See: American Bureau of Shipping.
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Absorption
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The assumption by
the carrier of switching or other special charges without increasing the rate
to the shipper.
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Acceptance of Goods
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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.
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Accessorial
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Charges made for
additional, special, or supplemental services, normally over and above the
line-haul services.
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Account Base
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List of all
accounts in a sales region.
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Account Profile
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Projection of an
account’s upcoming volume along with such account’s shipping requirements.
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Acknowledgement of receipt
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A notification
pertaining to the receipt of goods, messages or funds.
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Act of God
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Accidents beyond
human control such as floods, earthquakes, lightning or hurricanes, usually
referred to as "force majeure".
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Ad Valorem
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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.
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Add-ons
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Additional charges.
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Aft
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The rear of a
vessel.
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Agency
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An organisation
working on behalf of a principal. Company whom represents/acts on behalf of
another entity.
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Agency Fee
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Fee payable by a
shipowner or ship operator to an agent.
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Aggregated Shipments
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Numerous shipments
from different shippers to one consignee that are consolidated and treated as
a single consignment.
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AI
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All Inclusive
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A I D A
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Attention,
Interest, Desire, Action. Four elements of sales call
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Air Freight Forwarder
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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.
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All-in
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All Inclusive
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Allocation
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The process of allocating
space on a particular vessel (or vessels) to a certain organisational unit.
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Allotment
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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.
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All-Water
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Service rendered by
Carriers on a port-to-port basis; cargo moving via ocean Carrier only.
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AMS
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Automated Manifest
System
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American Bureau of Shipping (ABS)
|
American
classification society.
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Amidships
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The middle of a
vessel.
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Anti-Rebating Certification
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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.
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APG
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Arabian Persian
Gulf
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APM
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A. P. Muller
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AQ
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Any Quantities,
usually refers to a rating that applies to an article regardless of weight.
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AQI
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Agriculture
Quarantine Inspection.
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Arbitrary
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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.
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Arrival Notice (A/N)
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Documentation that
notifies Consignee of arrival information and freight charges due. Form
produced by Carrier for advanced notification to Consignee of cargo arrival.
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Artificial Tween Deck (ATD)
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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.
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As Freighted
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All cargoes
freighted on same unit; W/M.
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Asset-Based, Third Party Provider
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A third-party
provider that owns transportation and/or warehouse assets.
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Assignment
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An act which
involves transfer of rights, title, and interest for the purpose of assigning
goods by endorsement of the bill of lading.
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Athwartships
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Across the vessel,
from side to side.
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Audit
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A methodical
examination and review of business processes and/or business units,
concluding with a detailed report of findings.
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Average
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Marine insurance
term for losses or damages to or in respect of goods or equipment.
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Average Adjusters
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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.
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Average Inventory
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The average
inventory level over a period of time.
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Tags: Glossary, Dictionary, Explained, Define, Meaning, Description. |