Ocean Freight
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Ocean Freight
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1. A general term for any listing of rates or charges. The tariffs most frequently encountered in foreign trade are: tariffs of international transportation companies operating on sea - land - and in the air; tariffs of international cable - radio -

2. A receipt of commodities deposited in a warehouse identifying the commodities deposited. It is non-negotiable if permitting delivery only to a specified person or firm - but it is negotiable if made out to the order of a person or firm or to a beare

3. An insurance term meaning that partial loss or damage of goods is insured. The damage generally must be caused by sea water - and many terms specify a minimum percentage of damage before payment. It may be extended to cover loss by theft - pilferag

4. Insurance issued by marine underwriters against war-like operations specifically described in the policy. In former times - war risk insurance was taken out only in times of war - but currently many exporters cover most of their shipments with war

5. The title of a standard clause found in marine contracts exempting the parties for non-fulfillment of their obligations by reasons of occurrences beyond their control - such as earthquakes - floods - or war.

6. A group of vessel operators joined together for the purpose of establishing freight rates.

7. The transfer of a shipment from one carrier to another in international trade - most frequently from one ship to another. Because the unloading and reloading of delicate merchandise may cause damage - transshipments are avoided whenever possible.

8. A list of the goods being transported by a carrier.

9. A method of shipping whereby an agent (freight forwarder or consolidator) combines individual consignments from various shippers into one shipment made to a destination agent - for the benefit of preferential rates. (Also called "groupage") The cons

10. The term CFS at loading port means the location designated by carriers for the receiving of cargo to be loaded into containers by the carrier. At discharge or destination ports - the term CFS means the bonded location designated by carriers for deva

11. A vessel that connects with a line vessel to service a port not directly served by that line vessel.

12. A transportation line which hauls export or import cargo between ports and inland points

13. A vessel designed to handle large or oversized cargo; generally cargo unsuitable for container stowage.

14. The broadest form of coverage available - providing protection against all risk of physical loss or damage from any external cause. Does not cover loss or damage due to delay - inherent vice - inadequate packaging - or loss of market.

15. Term normally used in ocean freight rate negotiations referring to the equivalent of two twenty foot ocean containers.

16. Term normally used in ocean freight rate negotiations referring to the equivalent of two twenty foot ocean containers.

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