The shipping industry is a vital part of the global economy, facilitating the transportation of goods and products across the world. The industry has its own unique set of terminologies and jargons that one needs to be familiar with. In this article, we will explore some of the English words and phrases that are commonly used in the shipping industry.
Shipping Terminologies
Carrier
A carrier refers to a company that provides transportation services for goods and products. In the shipping industry, a carrier can be a shipping line or a freight forwarder.
Bill of Lading (B/L)
A bill of lading is a legal document that serves as proof of shipment and receipt of goods. It includes details of the cargo, the parties involved in the transaction, and the terms of the shipment.
Container
A container is a standard-sized box used for the transportation of goods. Containers come in different sizes, with the most common being the 20-foot and 40-foot containers.
Demurrage
Demurrage is a fee charged by carriers for the use of their containers beyond the agreed-upon time. It is usually charged on a per-day basis.
Freight
Freight refers to the goods being transported by the carrier. The term can also refer to the cost of transporting the goods.
Incoterms
Incoterms are a set of rules that define the responsibilities of buyers and sellers in international trade. They specify the obligations of each party, including the delivery of goods, payment terms, and insurance.
LCL/FCL
LCL (Less than Container Load) and FCL (Full Container Load) are terms used to describe the amount of cargo being transported. LCL refers to cargo that does not fill an entire container, while FCL refers to cargo that fills an entire container.
Port of Loading/Port of Discharge
The port of loading is the port where the cargo is loaded onto the vessel, while the port of discharge is the port where the cargo is unloaded from the vessel.
TEU/FEU
TEU (Twenty-foot Equivalent Unit) and FEU (Forty-foot Equivalent Unit) are units of measurement used to describe the capacity of a container vessel. A TEU is equal to one 20-foot container, while an FEU is equal to one 40-foot container.
Shipping Processes
Booking
Booking refers to the process of reserving space on a vessel for the transportation of goods. It is usually done by the shipper or the freight forwarder.
Customs Clearance
Customs clearance is the process of getting approval from the customs authorities to import or export goods. It involves submitting the necessary documents and paying any applicable taxes or fees.
Delivery Order
A delivery order is a document issued by the carrier that authorizes the release of the cargo to the consignee. It is usually issued after the cargo has been cleared by the customs authorities.
Load Port Survey
A load port survey is a survey conducted by a third-party surveyor to check the condition of the cargo before it is loaded onto the vessel. It is usually done at the request of the shipper or the consignee.
Onboard Survey
An onboard survey is a survey conducted by a third-party surveyor to check the condition of the cargo while it is on board the vessel. It is usually done at the request of the shipper or the consignee.
Conclusion
In conclusion, the shipping industry has its own unique set of terminologies and processes that are important to understand for anyone involved in international trade. This article has provided an overview of some of the commonly used English words and phrases in the industry. It is important to note that these terms and processes may vary depending on the carrier, the country, and the mode of transportation used.