This glossary of ocean freight terms is a comprehensive list of terminology related to shipping goods by sea. It includes commonly used terms in the industry, such as “demurrage,” “TEU,” “stowage,” and “Waybill,” as well as more specific terms like “BAF” and “PSS.” Each term is defined in a clear and concise manner, making it easy for someone who is not familiar with the industry to understand. This glossary would be a valuable resource for anyone working in the ocean freight industry or for businesses who need to transport goods by sea.
| ABI | Automated Broker Interface |
| AES | Automated Export System: The US Customs and Border Protection (CBP) system for electronic filing of Shipper’s Export Declaration (SED) and ocean manifest information directly to CBP. |
| AMS | Automated Manifest System: A part’s of Customs’ Automated Commercial System (ACS), controls imported merchandise from the time a carrier’s cargo manifest is electronically transmitted to Customs. |
| BAF | Bunker Adjustment Factor: An adjustment in shipping charges to offset price fluctuations in the cost of bunker fuel |
| BL | Bill of Lading |
| Break | The movement by ocean of packaged goods that are not containerized |
| BSC | Bunker Surcharge |
| BULK | Homogenous cargo that is stowed loose in the hold of a ship and is not enclosed in a shipping container or box, bale, bag or cast |
| CAF | Currency Adjustment Factor |
| CFS | Container Freight Station |
| Courier | Expedited, personalized package and document handling |
| CSC | Container Service Charge |
| CY/CY | Container Yard to Container Yard. |
| DTD | Door to Door |
| DTP | Door to Port |
| EDI | Electronic Data Interchange |
| ETA | Estimated time of Arrival |
| ETD | Estimated time of Departure |
| EX DEC | Shipper’s Export Declaration |
| FAF | Fuel Adjustment Factor |
| FAK | Fit All Kinds |
| FCL | Full Container Load |
| FSC | Fuel surcharge |
| GRI | General Rate Increase |
| GRR | General Rate Restoration |
| HBL | House Bill of Lading |
| IFC | Importer Security Filing (10+2 rule) and additional Carrier Requirements Information |
| LCL | Less than Container Load |
| NVOCC | Non-Vessel Operating Common Carrier |
| OTI | Ocean Transportation Intermediary |
| PPS | Pier Pass Surcharge |
| PSS/PSA | Peak Season surcharge / Peak Season Adjustment |
| PTP | Port to Port |
| TEU | Twenty-foot equivalent unit. Used to measure a vessel’s capacity. |
| THC | Terminal Handling Charges |
| TRC | Terminal Receiving Charges |
Other Charges: Clean truck fee, Handling Charges, Security Fee, Courier Fee.
1O + 2 REQUIREMENTS
The rule will mandate that importers of ocean cargo, or their authorized agents, supply U.S. Customs and Border Protection (CBP) with 10 additional data elements and ocean carriers to supply an additional 2 data sets. This information is to be required 24 hours prior to vessel loading in the foreign port and must be filed at this time by the Automated Broker Interface (ABI).
The ten data elements to be required are:
- Manufacturer (or supplier) name and address
- Seller (or owner) name and address
- Buyer (or owner) name and address
- Ship-to name and address
- Container stuffing location
- Consolidator (stuffer) name and address
- Importer of record number (or foreign trade applicant identification number)
- Consignee number(s)
- Country of origin
- Commodity HTSUS number (to the 6th digit)
The carrier is responsible for providing to CBP vessel stow plans and container status messages through the Automated Manifest System (AMS).
If you encounter any confusion regarding OCEAN FREIGHT TERMS in international trade, we highly recommend reaching out to the expert team at Sunday Game. Our professionals can provide you with a comprehensive explanation of the terms, helping you understand the responsibility allocations for each delivery term. This will enable you to mitigate potential risks and ensure smooth transactions throughout your business operations. By partnering with our team, you’ll gain a clearer understanding and effective application of OCEAN FREIGHT TERMS, optimizing your international trade experience.
