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 section of a vessel where containers are placed. Bays are usually numbered to simplify loading and discharging operations.
- Bill of Lading
A legal document signed by or for the captain/master, agents or owners of a vessel or by the (common) carrier. It is written evidence of the contract of carriage by sea and/or by land. The bill of lading is:
(1) A receipt of the goods (in the owner's/carrier's or their agent's custody)
(2) An undertaking to carry and deliver the goods safely to the place directed/agreed (and surrender the bill of lading if it stipulates delivery to order of a named person, to order (blank) or to bearer)
(3) Evidence of the terms of the contract of carriage.
A legal document issued by a carrier or carrier’s agent that acknowledges the receipt of cargo for shipment and details the type, quantity and destination of goods being carried. A bill of lading is:
(1) A conclusive receipt and acknowledgement that the goods have been loaded or received for shipment.
(2) Evidence of the terms of the contract of carriage.
(3) An undertaking to carry and deliver the goods safely to the place directed/agreed.
- The act of recording arrangements or making a reservation for the transportation of goods by vessel or other conveyance. Also known as a booking request.