Page 6 - Glossary of Shipping Terms

SHIPPING TERMS

TERM DESCRIPTION
Container Status
Container Type The status of a container in term of location, custody and cargo status for cargo tracking use.
Container Load
Containership The purpose of a container of which the code is to be adhered to ISO standard.
Contract of Affreightment
Copy B/L A load sufficient in size to fill a container either by cubic measurement or by weight.

CPT (Incoterm®) An ocean vessel specifically designed to carry ocean cargo containers. It is fitted with vertical cells for
maximum capacity.
Credit Agreement An agreement by a steamship line to provide cargo space on a vessel at a specified time and for a
specified price to accommodate an exporter or importer.
Customhouse Broker
Duplicate of original bill of lading and is non-negotiable.
Customs Invoice
Cut-Off Time One of 11 Incoterms®, can be used for any mode of transport. “Carriage Paid To”, means that the seller
CY delivers the goods to the carrier or another person nominated by the seller at an agreed place (if any
such place is agreed between the parties) and that the seller must contract for and pay the costs of
CY/CFS carriage necessary to bring the goods to the named place of destination.
CY/CY
Dangerous Goods Agreement between carrier and shipper for release of cargo with promise to pay ocean freight within
specific time.
DAP (Incoterm®) Also known as Custom Broker. A person or firm, licensed to engage in entering and clearing goods
through customs and/or the government office (Custom house) where duties and/or tolls are placed
DDC on imports or exports. The duties of a broker include preparing the entry blank and filing it; advising
the importer on duties to be paid; advancing duties and other costs; and, arranging for delivery to his
DDP (Incoterm®) client, his trucking firm, or other carrier.

Dead Space A form requiring all data in a commercial invoice along with a certificate of value and/or a certificate
Deferred Payment Credit of origin. Required in a few countries (usually former British territories) and usually serves as a seller's
(DPC) commercial invoice.
Delivery Order
Demurrage (Dem.) Latest possible time cargo may be delivered to vessel or designated point.
Depot, Container
Container Yard. Point at which carrier hands over to or receive laden containers from merchant haulier.
Commonly where mode of transport changes e.g. a sea port, feeder terminal, barge terminal or rail
ramp.

Cargo loaded in a full container by a shipper at origin, delivered to pier facility at destination, and then
devanned by carrier for loose pick up.
Cargo loaded by shipper in a full container at origin and delivered to carrier's terminal at destination for
pick up intact by consignee.
The term used by I.M.C.O. for hazardous materials which are capable of posing a significant risk to
health, safety or property while being transported.

One of 11 Incoterms®, can be used for any mode of transport. “Delivered at Place”, means that the seller
delivers when the goods are placed at the disposal of the buyer on the arriving means of transport ready
for unloading at the named place of destination. The seller has to bear all risks involved in bringing the
goods to the named place.

Destination Delivery Charges. A charge assessed by the carrier for handling positioning of a full container.

One of 11 Incoterms®, can be used for any mode of transport. “Delivered Duty Paid’, means that the
seller delivers the goods when the goods are placed at the disposal of the buyer, cleared for import on
the arriving means of transport ready for unloading at the named place of destination. The seller has
to bear all the costs and risks involved in bringing the goods to that place and has an obligation to clear
the goods not only for export but also for import, to pay any duty for both export and import and to
carry out all customs formalities.

Space in a car, truck, vessel, etc., that is not utilized.

A DC which allows the nomination of a bank, or the issuing bank to effect payment against stipulated
documents at a maturity date as specified or determinable from the wording of the credit.
A document authorizing delivery to a nominated party of goods in the care of a third party. Can be issued
by a carrier on surrender of a bill of lading and then used by merchant to transfer title by endorsement.
Charge raised for detaining FCL container/trailer at a terminal/CY for longer period than provided in a
tariff. Also known as Wharf Storage in Australia.

Container freight station or a designated area where empty containers can be picked up or dropped off.

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