Freight, shipping and chartering glossary

Type Meaning
Binder

A piece of cardboard, thin wood, or similar material that is inserted between the layers of containers to wait and hold a single stack.

Back order

The case when the company accepts an order for goods which currently not available. The order will be completed when the goods become available.

Bale

Bulk compressed bound and most often packaged bundle of goods: such as hay or cotton.

Billable Weight

Weight is taken as a basis when the price is generating.

Bond, In

The goods in storage are transported in customs regime under customs control or until payment of import duties or some other fees, or to avoid payment of duties or fees until a later date.

Buffer Stock

A quantity of goods or articles kept in storage to safeguard against unforeseen shortages or demands.

Benefit-cost ratio

The analytical technique used in state planning; a ratio of total measurable benefits divided by initial costs.

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Buyer

Organization that is engaged in the acquisition of any goods or services.

Back order

The case when the company accepts an order for goods which currently not available. The order will be completed when the goods become available.

Bunker Adjustment Factor

Ocean fuel surcharge.

Backfreight

A person who own ships can receive disbursement as reimbursement for cargo for goods which was returned back through the fault of consignees or consignors. This payment calls backfreight.

Buffer Stock

A quantity of goods or articles kept in storage to safeguard against unforeseen shortages or demands.

Break-bulk

Separation of consolidated cargo into separate small batches for delivery to the final recipient. The cargo can be moved entirely inside the trailer, or it can be replaced and transferred to the connecting carriers.

Balance of Trade

The ratio of the prices of goods exported by a country to the prices of goods imported into it for a certain period of time.

Break Bulk Vessel

Bulk cargo ship.

Bracing

To ensure delivery within the carrier’s vehicle to prevent damage.

Bale

Bulk compressed bound and most often packaged bundle of goods: such as hay or cotton.

Booking Number

A kind of number that is assigned to a particular place of booking by the carrier or carrier agent.

Barge

A cargo vehicle in which its autonomous driving mechanism for moving goods may or may not be present. In most cases, inland water vessels use main barges with open tops, but there are not only open but also indoor barges for dry or liquid content. Barges can be joined together and pushed or pulled by tugboats carrying content weighing sixty thousand tons or more. Not very large barges for transporting goods between ship and land are called "lighters".

Booking Confirmation

Booking confirmation is a receipt.

Barratry

Actions committed by the master or other personnel of the vessel for any illegal or criminal purpose, contrary to their obligations to the owners of the vessel, resulting in injury to the owners of the vessel. This includes inattention and negligence if it is as serious as a crime with proofs.

Bonded trucking

Trucking charge for shipments to a Free Trade Zone.

Base Currency

A type of currency whose value is considered as "one" in cases where the quote is between two types of currencies.

Bond, In

The goods in storage are transported in customs regime under customs control or until payment of import duties or some other fees, or to avoid payment of duties or fees until a later date.

Basing-point pricing

A system by which pricing is carried out, which incurs the cost of transporting goods from one point to another, even in cases where delivery does not occur at the point of basing.

Binder

A piece of cardboard, thin wood, or similar material that is inserted between the layers of containers to wait and hold a single stack.

Beneficial Cargo Owner (BCO)

This is an importer who gains control of the cargo using its own logistics assets instead of using a third-party source such as a forwarder or NVOCC.

Billable Weight

Weight is taken as a basis when the price is generating.

Benefit-cost ratio

The analytical technique used in state planning; a ratio of total measurable benefits divided by initial costs.

Batch picking

Collecting items from a warehouse for several (more than one) orders.

Barter

Receiving something by an agreement that the payment will not be money, but the provision of any services or exchange for other goods.

Billing

The operator terminal, which indicates the desired rate, calculates how much the delivery will cost and generates a freight bill.

Bill of Lading, Through

Consignment that covers goods from the point of departure to the final destination, when an exchange or transfer from one carrier to another is necessary to complete the trip.

Business logistics

A special process in which planning, implementation and verification of the flow of goods, services and other similar information is provided.

Broker

There are several definitions of this term 1) An organization that owns or rents equipment 2) An enterprise that helps to buy or rent services or goods 3) An agent who works for the shipowner or charterer in chartering.

Break Bulk Cargo

Goods that are shipped as a single unit or package (for example: cargo on pallets, piece goods, bulky equipment, trucks), but not in the container.

Boxcar

A boxcar, typically forty to fifty feet long, used to pack bulk goods.

Booking

Request for a place and equipment on board the vessel for the cargo that needs to be transported.

Bonded warehousing

One of the types of warehousing in which organizations store goods without makes payment of taxes and do not consider tariffs. The warehouse manager contacts himself with a tax or tariff collection agency to ensure that taxes are paid before the warehouse releases the goods.

Bonded Goods

Imported goods are stored in the so-called customs warehouse, which is a gateway where the goods can be stored for some time without payment for storage and duties.

Blanket rate

A tariff that does not increase due to the distance over which delivery is carried out.

Booking Fee

Additional costs that the agent adds to the tariff.

Basing-point pricing

A system by which pricing is carried out, which incurs the cost of transporting goods from one point to another, even in cases where delivery does not occur at the point of basing.

Batch picking

Collecting items from a warehouse for several (more than one) orders.

Beneficial Cargo Owner (BCO)

This is an importer who gains control of the cargo using its own logistics assets instead of using a third-party source such as a forwarder or NVOCC.

Benefit-cost ratio

The analytical technique used in state planning; a ratio of total measurable benefits divided by initial costs.

Billing

The operator terminal, which indicates the desired rate, calculates how much the delivery will cost and generates a freight bill.

Blanket rate

A tariff that does not increase due to the distance over which delivery is carried out.

Binder

A piece of cardboard, thin wood, or similar material that is inserted between the layers of containers to wait and hold a single stack.