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Alameda Corridor

Recovers charge assessed by railroads for inland destination moves via Southern California ports, to pay for Alameda Corridor express rail facility.

Bareboat Charter

A form of charter where the vessel owner only provides the charter with an unmanned ship, which the charterer shall possess, employ and operate within an agreed period and for which the charterer shall pay the vessel owner the hire.

Bill of Lading

A document which serves as evidence of the contract of carriage of goods by sea and the taking over or loading of the goods by the carrier, and based on which the carrier undertakes to deliver the goods against surrendering the same.

Booking

Prior arrangements with a carrier for the carriage of a specific volume freight (i.e. a space reservation).

Bunkers

Heavy oil used as fuel for ocean vessels.

Bunker Fuel

Compensates for wide fluctuations in marine bunker fuel and diesel oil at key (BAF/FAF) transpacific load ports.

Carrier

The person by whom or in whose name a contract of carriage of goods by sea has been concluded with a shipper.

CCFI

China Container Freight Index.

Charter

The chartering or hiring of a vessel for a certain purpose at a fixed rate for a fixed period of time or for a designated voyage.

Chassis Usage

Addresses cost of carrier-providing chassis along with container equipment.

Congestion

Addresses costs related to schedule delays, rerouting of cargo and other impacts from sudden or sustained port congestion.

Consignee

The person who is entitled to take delivery of the goods pursuant to the original bill of lading.

Consignment

Goods or property sent, by the aid of a common carrier, from one person in one place to another person in another place.

Container

A weatherproof box designed for shipment of freight. “container cargo” Cargo carried in containers.

Currency (CAF)

Covers increased local currency operating costs in Asian countries relative to U.S. dollar-denominated freight charges and revenues.

Customs Clearance

The process of clearing imports and exports through customs.

Demurrage

Period of time loaded container remains at destination terminal awaiting pickup by shipper or consignee.

Depot

Container yards located outside terminals for stacking of containers.

Detention

Period of time container and/or chassis is held by receiving party at its premises after delivery

Drayage

Trucking of container and/or cargo on behalf of the customer within a port area, to and from an off-dock CY or CFS or locally for pickup or delivery.

Drewry

Drewry Shipping Consultants Ltd., an independent consulting and publishing company specialising in compiling shipping industry statistics. ( http://www.drewry.co.uk ).

EDI

Electronic data interchange, a means for enabling the user to exchange data (including details of purchase orders) relating to particular transactions with its suppliers, customers and services providers.

Feeder

Covers sudden increases in spot market rates for connecting vessel and inland barge feeder service in Asia .

FEFC

Far Eastern Freight Conference.

FEU

Forty-foot equivalent unit, a standard unit of measurement of the volume of a container with a length of 40 feet, height of 8 feet and 6 inches and width of 8 feet.

Finance Lease

In relation to container leasing, a lease typically for a term of five to eight years, upon the expiry of which the lessee has the right to purchase the container for a nominal amount.

Free Time

Initial period of time allowed for detention and demurrage, without charges accruing.

Freight Collect

A mode of freight payment where, generally, the consignee makes payment at the time of taking delivery of the cargo.

Freight Prepaid

A mode of freight payment where, generally, the shipper makes payment at the time of taking delivery of the original bill of lading.

Hazardous Cargo

Liability and charges related to packaging, labeling, container loading and documentation of hazardous cargo, particularly within consolidated “freight all kinds” shipments.

Hazardous Rail Security

Covers security-related charges paid to U.S. railroads for intermodal shipments of hazardous cargo.

Inventory Management

The process of ensuring the availability of products through inventory administration.

IRIS-2

Integrated Regional Information System-2, an integrated information system for a specific region.

ISM Code

International Safety Management Code, an international code for the safe management and operation of ships and for pollution prevention issued by the IMO applicable to international route vessels and shipping companies (ship management companies, bareboat charters and ship-owners).

ISPS Code

International Code for the Security of Ships and of Port Facilities, an international code for vessel and port facility security issued by the IMO applicable to international route vessels.

Joint Service

Arrangement pursuant to which a group of shipping companies each contributes a certain number of vessels in a jointly operated trade lane.

Liner

A vessel sailing between specified ports on a regular basis.

Logistics

A comprehensive, system-wide view of the entire supply chain as a single process, from raw materials supply through finished goods distribution. All functions that make up the supply chain are managed as a single entity, rather than managing inPidual functions separately.

Long-Term Lease

In relation to container leasing, a lease typically for a term of five to ten years, during which an agreed leasing rate is payable.

Panama Canal

Recovers transit charges paid by shipping lines to Canal Authority.

Master Lease

In relation to container leasing, a lease setting out the legal and initial commercial terms on which a company leases containers to a particular customer on an ongoing basis, with the commercial terms, such as the leasing rates, handling charges, drop-off locations and charges, and replacement value, being renegotiated and renewed on an annual basis.

Multimodal Transportation

Transportation of goods by two or more different modes of transport, one of which being sea carriage.

NVOCC

Non-Vessel Operating Common Carrier, a carrier which does not own or operate vessels and is engaged in the provision of shipping services, normally issuing a house bill of lading.

Pilotage

The act of navigating a vessel into and out of a port or through dangerous waters and charges relating thereto.

Post-Panamax

A vessel with dimensions, particularly in width or beam, too large to transit the Panama Canal .

Reefer

The generic name for a temperature controlled container. The containers, which are insulated, are specially designed to allow temperature controlled air circulation within the container. A refrigeration plant is built into the rear of the container.

Shipper

The person by whom or in whose name or on whose behalf a contract of carriage of goods by sea has been concluded with a carrier.

Slot Exchange and Purchase

An arrangement under which one container shipping company will make available container space on one of its vessels to another container shipping company. Shipping companies may exchange slots, or one shipping company may purchase or rent slots from its partners under the same or different arrangement

Space Utilization

In relation to container shipping, this is a percentage calculated by Piding the total number of loaded containers in terms of TEU shipped or delivered by the usable capacity (which is generally smaller than the design capacity because not all of the design capacity can actually be used to carry containers) of the Group's container vessel fleet operating on that particular route. Since containers can be off-loaded and reloaded or replaced by new containers at each port of call of the trade lane or feeder route and, as noted above, each container is counted once whenever it is loaded on a vessel at each port, space utilization can exceed 100%.

Stevedore

Also referred to as a “longshoreman”, a terminal operator who is designated to facilitate the operation of loading and discharging vessels and various other related operating activities.

Suez Canal

Recovers transit charges paid by shipping lines to Canal Authority.

Terminal Handling Charges

Reflects shore side handling costs at origin port, from receipt of the container at the CY or CFS terminal through its loading onto the vessel. Charges vary by port, carrier and services performed; special charges may apply to refrigerated, hazardous or other cargo requiring additional handling.

TEU

Twenty-foot equivalent unit, a standard unit of measurement of the volume of a container with a length of 20 feet, height of 8 feet and 6 inches and width of 8 feet.

Time Charter

A form of charter where the vessel owner provides a manned vessel to the charterer, and the charterer employs the vessel during the contractual period for the agreed service against payment of hire.

TSA

The Transpacific Stabilization Agreement is a research and discussion forum of 12 major ocean container shipping lines that carry cargo from Asia to ports and inland points in the U.S. ( http://www.tsacarriers.org/ ).

Utilization Rate

In relation to the Group's container leasing business, which is carried on by Florens, this is a percentage calculated by Piding the volume of containers on-hired to customers in terms of TEU by the total capacity of Florens' container fleet in terms of TEU.

War Risk

Addresses higher insurance premiums, shipment rerouting or rescheduling, and other increased costs serving countries at risk of war or armed conflict.

 

 
 
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