Terms used in shipping such as Feasibility Studies,Full Container Load,Fumigation,Functional Currency, Greenwich Mean Time

 

Terms used in shipping such as Feasibility Studies,Full Container Load,Fumigation,Functional Currency, Greenwich Mean Time etc.

 

 

This post explains about terms used in shipping such as Fresh Air Exchange, Freight,Feasibility Studies,Full Container Load,Fumigation,Functional Currency, Greenwich Mean Time,Gross original premium,Good safety etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.

 

Terms used in shipping

 

freight: Merchandise hauled by transportation lines.

 

Freight:(a) The price paid to the carrier for the transportation of goods or merchandise by sea or air from one place to another. (b) Freight is also used to denote goods which are in the process of being transported from one place to another.

 

FREIGHT:Money payable on delivery of cargo in a mercantile condition.

 

Terms used in shipping such as Feasibility Studies,Full Container Load,Fumigation,Functional Currency, Greenwich Mean Time etcFreight:Refers to either the cargo carried or the charges assessed for carriage of the cargo.

 

Freight:The price paid to the carrier for the transportation of goods or merchandise by sea from one place to another.Freight is also used to denote goods which are in the process of being transported from one place to another.

 

Freighters:See Ships.

 

Fresh Air Exchange (FAE):The fresh air exchange system in a reefer container which removes harmful gases from reefers carrying sensitive perishable commodities. The fresh air vent is located on the reefer machinery at the end of the container. The fresh air vent is adjustable to accommodate a variety of cargo and chilled load operating conditions. The fresh air vent should be tightly closed when carrying frozen cargo.

 

FRT - Freight - Amount of money paid by a shipowner or shipping line for the carriage of cargo. Depending on the type of contract, the particular terms and, in some cases, the custom of the ports involved, the freight may include the cost of loading and/or discharging the cargo or may simply cover the ocean carriage.

 

Frt. – Freight

 

FRUSTRATION:Charterers when canceling agreement sometimes quote ‘doctrine of frustration’ i.e. vessel is lost, extensive delays .

 

FS - Foreign Service Officer

 

FSA - Freedom Support Act

 

FSC - Foreign Sales Corporation

 

FSI - Foreign Service Institute

 

FSN - Foreign Service National

 

FSs - Feasibility Studies

 

FSU - Former Soviet Union

 

ft – Feet

 

FT - Foreign Trade Organization

 

FTA - Free Trade Agreement/Area

 

FTC - Federal Trade Commission

 

FTD - Foreign Trade Division

 

Fth. – Fathom

 

FTI - Foreign Traders Index

 

FTSR - Foreign Trade Statistical Reporting

 

FTZ - Foreign Trade Zone

 

FTZ-SZ - Foreign Trade Zone-Subzone

 

Fuel surcharge:an additional charge by carriers to compensate the rising and lowering price of fuel, usually a percentage of an established rate.

 

Full Cellular Ship:A ship fitted for container carriage in all available space. The ship is fitted with vertical cells for container placement both below and above deck. No provisions are available for cargo other than containers.

 

Full Container Load (FCL):A container that is loaded and unloaded entirely under the risk and account of a single shipper or consignee.

 

Full Container Load (FCL):Opposite to the less than container load. The consigner is responsible for the loading, counting, pre-stowage and lead seal of the transportation. The uncovering of the full container load is usually done by consignee, but can also be consigned to the carrier. The carrier is not responsible for the damage or short of the goods in the container, unless the consigner quotes the duty of the carrier. The full container load is interchanged by one container. The carrier will complete his job as long as the container has approximate appearance and complete lead seal. The freight bill of full container load should be added an item of “the consigner loads, counts and lead seals”.

 

Fumigation:The process of Fumigation is where a container is filled with Gases / Pesticides to kill vermin or Insects or other infestations.

 

Fumigation:Treatment of cargoes with a pesticide-active ingredient that is a gas under treatment conditions. It is a process required by many importing countries for the importation of wood and related products.

 

Functional Currency:The currency of the primary economic environment of and entity. For ODFL, this is US Dollars.

 

fwd. – Forward

 

FX - Foreign Exchange

 

G.A. - General Average

 

G.A.D.V. - Gross arrived damaged value

 

G.A.F.T.A. - Grain & Feed Trade Assoc

 

G.A.S.V. - Gross arrived sound value

 

G.A.T.T. - General Agreement on Tariffs and Trade

 

G.F. - Government Form (chartering)

 

g.f.a. - Good fair average

 

G.L. - Germanischer Lloyd

 

g.m.b. - Good merchantable brand

 

g.m.q. - Good merchantable quality

 

G.M.T. - Greenwich Mean Time

 

G.N.E.P.I. - Gross net earned premium income

 

g.o.b. - Good ordinary brand

 

G.O.P. - Gross original premium

 

G.R. Wt./G.W. - Gross Weight. It is the total weight of merchandise (both goods and packaging) and the shipping container.

 

G.R.I.:General Rate Increase.

 

g.r.t. - Gross register tons

 

G.S. - Good safety

 

g.s.m. - Good sound merchantable

 

G/A - General average

 

G/A con. - General average contribution

 

G/A dep. - General average deposit

 

G-10 - Group of Ten

 

G-24 - Group of Twenty-Four

 

The above details describes about terms called in shipping such as Fresh Air Exchange, Freight,Feasibility Studies,Full Container Load,Fumigation,Functional Currency, Greenwich Mean Time,Gross original premium,Good safety etc.. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in shipping business below this post.Terms used in shipping such as Freight Management,Freight Conference,Freight Class,Freight Broker,Freight Carriage

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