Glossary
Ocean Transport – basic definitions
BAF (Bunker Adjustment Factor) – variable fuel surcharge, i.e. a surcharge to the basic sea freight rate, set for a period of time (e.g. for one month) during shippers’ conference, to compensate for possible losses due to changes in fuel market
Bill of Lading (B/L) – consignment note in sea transport
CAF (Currency Adjustment Factor) – variable currency surcharge, i.e. a surcharge to the basic sea freight rate, set for a period of time (e.g. for one month) during shippers’ conference, to compensate for possible losses due to changes in foreign exchange market
Cut-Off Date - The final day for receipt of cargo at the CFS or Port.  Also final day for receipt of shipper's letter of instructions and supporting documents, by the carrier.
E.T.A./ETA (Estimated Time of Arrival) - estimated time when the ship reaches the port; acronym used in sailing schedules
E.T.S./ETS (Estimated Time of Sail) or E.T.D./ETD (Estimated Time of Departure) – estimated time when the ship leaves the port; acronym used in sailing schedules
FCL (Full Container Load) – a shipment of full container, when one customer buys all the capacity of a container for his goods, even if he does not use all of it, e.g. 20 cbm/5 tonnes in a container 20’DV, while the maximum capacity of the container is 33 cbm and 20 tonnes gross
HBL - House Bill of Lading issued by NVOCC segregating individually consigned shipments for distribution
ISPS (International Ship & Port Facility Security fee) – a fee charged by all shippers and ports due to mandatory increase in general security
Sea Container – a durable transport device, which can be used multiple times; designed specially to facilitate translocation of goods by one or more means of transport, without reloading of the cargo; equipped in devices enabling easy handling, especially during reloading from one means of transport to another; designed so it can be filled and emptied easily
LCL (Less than Container Load) – a general cargo shipment, loaded in one, so called, collective container along with cargo of the other customers; in sea transport, as opposed to road transport, 1 cbm is compared to 1 tonne, and the freight rate is based on that calculation;
LCL/FCL –general cargo shipments consolidated in the county of shipment from several suppliers all having the same consignee and put in one container
MBL -  MASTER Bill of Lading: issued by VOCC
NVOCC - Non Vessel Operating Common Carrier
P.O.L./POL (Port Of Loading)
P.O.D./POD (Port Of Discharge)
PSS (Peak Season Surcharge) – a periodical surcharge applied in seasons or moments when the demand is increasing on a given freight market, and the shipping companies do not have the possibility to raise basic freight rates because they were set e.g. for the whole quarter
Seaway Waybill (Express Release) – an express-service bill of lading; issued in one copy; there is no need to present the original document to the shipping/forwarding company to release the goods
THC (Terminal Handling Charges) – port/terminal costs – fees connected with handling of containers in port, emptying, warehousing, reloading to a truck; in port of shipment and port of destination; this fee is the sum of particular costs of various operations made in ports/terminals
Transit Time – estimated time of transit, stated in schedules.
*PLEASE NOTE: in some schedules, the stated transit time is calculated by summing up only the times between every stage of the cruise, e.g. transport to the port, sea freight, transport form the port, without taking into consideration the time of waiting for reloading in ports/terminals
V.O.C.C. - Vessel Operating Common Carrier
W/M – weight/measurement – 1 cbm /1 tonne – in order to calculate freight charge you choose the larger value (number of tonnes or cubic meters) and multiply it by the given rate; if calculated freight charge is lower than minimal rate, you should use the minimal rate
 
Some of the acronyms and abbreviations used in communication between forwarders
B/L - BILL OF LADING
CAF - CURRENCY ADJUSTMENT FACTOR
CHC - CHASIS CHARGE
CHGS - CHARGES
CK - CHECK
CNTR - CONTAINER
COC - CONTAINER ON-HIRE CHARGE
COL - FREIGHT COLLECT
CST - COST
CSF - CARRIER SECURITY FEE
CUC - CHASIS USING CHARGE
D/THC - DESTINATION THC
DIC - DESTINATION INLAND CHARGE
DLD - DELIVERED
DLR - DELIVER
DLY - DELIVERY
DSTN - DESTINATION
DUP - DUPLICATE
EFS - EMERGENCY FUEL SURCHARGE
EIS - EQUIPMENT IMBALANCE SURCHARGE
EMS - EMERGENCY SURCHARGE
FM - FROM
FMC - FEDERAL MARITIME COMMISSION
FUM - SUMIGATION CHARGE
FIOS - FREE IN / OUT LOADING/ DISCHARGING IS AT CONSIGNER'S COST)
FIFO - FREE IN / FREE OUT (VIDE FIOS)
FILO - FREE IN / LINER OUT (LOADING IS AT CONSIGNER'S COST, DISCHARGING IS AT LINER COST)
GRI - ANY OUTSTANDING GENERAL RATE INCREASE
HLC - HEAVY LIFT CHARGE
INTL - INTERNATIONAL
LIFO - LINER IN / FREE OUT (LOADING IS AT LINER COST, DISCHARGING IS AT CONSIGNER'S COST)
LILO - LINER IN / OUT (LOADING AND DISCHARGING IS AT LINER COST)
LSF - LOW SULPHUR FUEL
O/THC - ORIGINAL TERMINAL HANDLING CHARGE / CONTAINER SERVICE CHARGE
OFC - OCEAN FREIGHT CHARGE
OGS - OUT OF GAUGE CHARGE
OIC - ORIGIN INLAND CHARGE
PCS - PANAMA CANAL LOW WATER SURCHARGE
PPD - FREIGHT PRE PAID AT ORIGIN
PSS - PEAK SEASON SURCHARGE
SCS - SUEZ CANAL SURCHARGE
S/C - SERVICE CONTRACT
SLI - SHIPPER'S LETTER OF INSTRUCTION (MASTER)
SVC - SERVICE
WRS - WAR RISK SURCHARGE
SCC / SCS – SUEZ CANAL CHARGE / SUEZ CANAL SURCHARGE
V.A.T. – VALUE ASSESSMENT TAX