Page 18 - Turners Shipping Glossary of Terms
P. 18


TERM                       DESCRIPTION
Transit Cargo              To transfer goods from one transportation line to another, or from one ship to another.

Transit Port               Goods on board which upon their arrival at a certain port are not to be discharged at that
Transhipment Port          port.
TVR                        A port where goods received is merely en route and from which they have to be transferred
Twist Locks                and dispatched to their ultimate destination by coasters, barge and so on. Also called
UCP                        transhipment port.
Unit Load                  See Transit port.
Value for Duty
Vanning                    Terminal receiving Charge. Charge assessed by the terminal for cargo being delivered
Ventilated Container       for export.
Vessel's Manifest
VGM                        Time Volume Rate. A type of freight contract where the shipper commits to a specified
Voyage Number              volume of TEU over a specific period of time.

Waybill (WB)               A set of four twistable bayonet-type shear keys used as part of a spreader to pick up a
                           container or as part of a chassis to secure the containers.
Wharfage (Whfge.)
World Trade Organization   Uniform Customs and Practice of Documentary Credit. The "bankers Bible" on
(WTO)                      Documentary Credit Interpretation issued by the I.C.C.

                           Revised and updated version operating from January 1, 1994.

                           Packages loaded on a pallet in a crate or any other way that enables them to be handled
                           at one time as a unit.

                           The value which is declared to the customs at the port of discharge for the purpose of
                           assessing customs duty

                           A term sometimes used for stowing cargo in a container.

                           A container designed with openings in the side and/or end walls to permit the ingress of
                           outside air when the doors are closed.

                           Statement of a vessel's cargo (revenue, consignee, marks, etc.).

                           Verified Gross Mass Is a condition of loading in compliance with The Safety of Life at Sea
                           Convention (SOLAS). The shipper is responsible for the verification of the packed cargo

                           The numeric identification of a round trip sailing of a vessel on a fixed trade lane.

                           A document prepared by a transportation line at the point of a shipment; shows the point of
                           the origin, destination, route, consignor, consignee, description of shipment and amount
                           charged for the transportation service. A waybill is forwarded with the shipment or sent by
                           mail to the agent at the transfer point or waybill destination. Abbreviation is WB. Unlike a
                           bill of lading, a waybill is not a document of title.

                           Charge assessed by a pier or dock owner against freight handled over the pier or dock or
                           against a steamship company using the pier or dock.

                           The international organisation dealing with the global rules of trade between nations.
                           It was created, and replaced GATT. Its main function is to ensure that trade flows as
                           smoothly, predictably and freely as possible  Page 18  “Trusted for over 120 Years”
   13   14   15   16   17   18   19   20   21   22   23