Glossary

What does LT stand for? What does on-carriage mean? What's a time charter?

Shipping jargon and terminology can be confusing. In this section, we explain the meaning of the most commonly used international shipping terms.

If you still need a specific shipping term explained in detail, simply contact your nearest Safmarine office – we’re happy to help.

A
Accessorial services
Additional services provided by a carrier, such as sorting, packing, precooling, heating or storage.
Activity-based costing (ABC)
An accounting system that measures the cost and efficiency of specific activities performed within an organisation. For example, an ABC approach might measure the cost incurred by the accounts receivable department when handling calls for billing errors (as opposed to a traditional accounting approach, which would ignore specific activities and instead measure the cost of the accounts receivable department as a percentage of revenue).
All Inclusive
All Inclusive
Any Quantity
A rate that applies to an item, regardless of weight.
Artificial Tween Decks
A section on a container vessel for oversized cargo. An artificial tween decks area is 40’ x 8’ in size, has a 1’ thick steel platform with hardwood flooring and is equipped with ten bullrings for securing oversized, heavy or wheeled cargo.
Assignment
The transfer of a person’s or company’s legal interests or rights to another person or company, especially the transfer of property to be held in trust or to be used for the benefit of creditors. Also, the document by which such an interest or right is transferred.
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