Terms used in shipping such as Free In,Forty Foot Equivalent Unit,Fertivoy,Feeder vessel,feeder service,Feasibility Studies etc.
This post explains about terms used in shipping such as Free In,Forty Foot Equivalent Unit,Fertivoy,Feeder vessel,feeder service,Feasibility Studies,Full Container Load,FCL Allowance 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
FCL (Full Container-Load):An ocean-shipping and intermodal industry term; a full container-load shipment is when a shipper contracts for the transportation of an entire container. The vast majority of intermodal and ocean freight is contracted in this manner. Historically, FCL also stands for full carload which is the primary business of all modern railroads, and is the railroad equivalent of TL trucking.
FCL Allowance - Deduction from the FCL freight provided by a shipping line or liner conference to a shipper who loads a minimum number of tons or cubic meters of cargo into a shipping container. There may be various allowances depending on the degree of utilization of the container. Also known as utilization allowance.
FCL or CY:Full Container Load, also known as CY . CY is the abbreviation of Container Yard. When the term CY to CY , it means full container load all the way from origin to destination.
FCL/ LCL - Term used to describe a freight rate whereby the shipper is responsible for packing of the container and the shipper or receiver, as the case may be, is responsible for the unpacking.
FCL/FCL:See “CY/CY”.
FCL:Full Container Load, generally but not always indicating that goods in the container are from one seller who packed the container, going to one buyer who will unpack the container.
FCL:Full Container Load. It is an arrangement whereby the shipper packs cargoes into a container provided by the carrier or the forwarder before delivering to the container terminal.
FCPA - Foreign Corrupt Practices Act
FCS - Foreign Commercial Service
FCSC - Foreign Claims Settlement Commission
FD - Free Despatch - Provision in a voyage Charter-Party that despatch money is not payable when loading and/or discharging has been completed in less than the time allowed.
FD:Abbreviation for "Free Discharge."
FDIUS - Foreign Direct Investment in the United States
Feasibility Studies - See: Trade and Development Agency.
Federacion Mundial de Instituciones Financieras de Desarollo - See: World Federation of Development Financing Institutions.
Federal Grain Inspection Service - FGIS certifies that grain produced in the United States meets the official United States Standards for Grain. As part of its responsibilities, FGIS works with international traders. Before any grain can be exported from the United States, it must first be certified by FGIS as having met a specific standard. FGIS staff explain the national inspection system, U.S. grain standards, and commodity inspection programs; conduct briefings and tours; assess foreign inspection and weighing techniques; and respond to inquiries about quality and quantity of U.S. grain exports. FGIS agencies in eight states are delegated authority to perform official export services at ports.
Federal Maritime Commission (FMC):A federal agency in the United States that regulates ocean-going transportation and commerce between US organizations and foreign countries. Established in 1961, the Federal Maritime Commission is responsible for monitoring and licensing all ocean-based shipping and other business activities involving US companies or concerns.
FEDERAL MARITIME COMMISSION (FMC):The U.S. Federal agency responsible for overseeing rates and practices of ocean carriers that handle cargo at U.S. ports.
Federal Maritime Commission:The FMC is an independent agencys which regulates oceanborne transportation in the foreign commerce and in the domestic offshore trade of the United States.
feeder service: Ocean transport system involving use of centralized ports to assemble and disseminate cargo to and from ports within a geographic area. Commodities are transported between major ports, then transferred to feeder vessels for further transport to a number of additional ports.
Feeder Service:Cargo to/from regional ports are transferred to/from a central hub port for a long-haul ocean voyage.
Feeder Vessel:A short-sea vessel which transfers cargo between a central "hub" port and smaller "spoke" ports.
FEEDER VESSEL:A vessel that connects with a line vessel to service a port not directly served by that line vessel.
Feeder Vessel:A vessel which is part of a cargo network in which the larger, faster vessels only call at the major ports at both ends of the areas being covered, and the smaller ports are served by the smaller feeder vessels. These vessels then transfer the cargo to and from the major port terminals and thus keep the larger vessels filled closer to capacity and spare them the expense and loss of time in loading and unloading in the subsidiary ports.
FEEDER:A grain container or reservoir constructed around the hatchway between two decks of a ship which when filled with grain automatically feeds or fills in the vacant areas in the lower holds.
FEMA - Federal Emergency Management Agency
FEMIDE - Federacion Mundial de Instituciones Financieras de, Desarollo
fender piles: The wooden or plastic pilings on the outer edge of the wharf function like the fenders on a car. They are there to absorb the shock of a ship as it docks at the wharf and to protect the structural pilings that actually support the wharf. Fender piles are also called sacrifice piles since they are designed to be discarded after they are broken.
Ferticon - Voyage Charter-Party used for shipments of fertilizer, published by the Chamber of Shipping.
Fertivoy - Voyage Charter-Party used for shipments of fertilizer from the United States of America and Canada. The full name of this Charter-Party is the North American fertilizer Charter-Party.
FET - Foreign Economic Trends
FEU - Forty Foot Equivalent Unit - Unit of measurement equivalent to one 40-foot container. Thus two 20-foot containers comprise an FEU. This measurement is used to quantify, for example, the container capacity of a ship, the number of containers carried on a particular voyage or over a period of time, or it may be the unit on which freight is based.
FF&E (Furniture, fixtures and equipment):used generically, it refers to all the soft and hard goods used in outfitting a hotel.
FFP - Food For Progress
FGIS - Federal Grain Inspection Service
FHEX - Fridays and Holidays Excepted - Charter-Party term, which provides that Fridays and holidays do not count in the calculation of laytime. This term applies to those countries where Friday is the Sabbath, notably in the <st1:place>Middle East</st1:place>.
FI - Free In
FI - Free In and Out
FI (Free In):In the international ocean freight terminology the word “Free” means “Not included”. I.e. if FI, then the shipper is responsible for the coast of loading goods onto a vessel for the international shipping overseas.
FIAS - Foreign Investment Advisory Service
FIATA - Federation Internationale des Associations de Transitaires, et Assimilies.
The above details describes about terms called in shipping such as Free In,Forty Foot Equivalent Unit,Fertivoy,FEEDER VESSEL,feeder service,Feasibility Studies,Full Container Load,FCL Allowance 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 Foreign Exchange,Factor,Fair Value ,freight all kinds,Free Alongside, Free Alongside Ship
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