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.

N
Negotiable Bill of Lading
A negotiable bill of lading can be negotiated, transferred or assigned from one person to another in return for the equivalent value by being delivered
Negotiating Bank
The bank where a shipper negotiates documents or where documents are first presented, usually at country of origin; also referred to as the advising bank.
Nested
A space-saving storage technique, in which three or more different sized items are placed one within the other or on top of each other.
Neutral Body
Investigating body designated by conference carriers to ensure that all regulations and rules are adhered to.
Non-Asset-Based Third Party Providers
Third-party providers who generally do not own assets, such as transportation or warehouse equipment.
Non-Negotiable Bill of Lading
A non-negotiable bill of lading is not a document of title and cannot be transferred.
Non-Vessel Operating Common Carrier (NVOCC
A carrier offering an international cargo transport service through the use of underlying carriers and under their own rate structure in accordance with tariffs filed with the Federal Maritime Commission in Washington D.C., USA.
Not otherwise enumerated
Not otherwise enumerated
Not otherwise stated
Not otherwise stated
Notify Party
The company or person, identified in the bill of lading or waybill, that must be notified when the cargo arrives at destination. This could be different from the consignee, but is usually the receiver of the goods. A notify party has no particular rights (beyond the notification) under the bill of lading or waybill.