Shipping & Maritime Glossary
Decipher complex freight acronyms, container jargon, customs rules, and port operational terms. Built with practical real-world examples and calculation formulas for shippers and forwarders.
Overland Common Point
A special freight rate designation used for cargo shipped to US West Coast ports destined for inland Midwest and Eastern points.
Bundle (Bill of Lading)
BDL represents 'Bundle' in shipping packaging codes and is also widely used as an operational abbreviation for a grouped Bill of Lading packet.
Last Free Day
The final calendar date before which a container must be picked up from the marine terminal (demurrage) or returned empty to the carrier (detention) without penalty.
Berth (Berthing & Berth Window)
The designated physical quay location alongside a marine terminal where a container vessel moors to load and discharge cargo.
Measurement Ton (M/T, Freight Ton)
A volumetric freight rating unit where 1 Measurement Ton equals 1 cubic meter (or 40 cubic feet), used to calculate shipping charges on high-cube or breakbulk cargo.
Twenty-Foot Equivalent Unit
The standard unit of measurement used in container shipping based on the dimensions of a standard 20-foot intermodal container.
Forty-Foot Equivalent Unit
A standard measurement unit based on a 40-foot container, equivalent to 2 TEUs.
Demurrage
A fee charged by ocean carriers when a loaded import container remains inside the marine terminal beyond the allotted free time.
Detention (Per Diem)
A daily fee charged when a container is held outside the port terminal beyond the allowed equipment free time before being returned empty.
Container Drayage
The specialized trucking transport of shipping containers over short distances between marine terminals, rail ramps, and local distribution centers.
Container Yard
A designated storage and interchange facility inside a port or inland terminal where full container loads (FCL) are staged for vessel loading or consignee pickup.
Container Freight Station
A secure warehouse facility where less-than-container-load (LCL) shipments are consolidated before export or deconsolidated for import delivery.
Full Container Load
An ocean freight shipment where an entire shipping container is booked exclusively by a single shipper for their cargo.
Less than Container Load
An ocean shipment mode where multiple shippers' smaller cargo consignments are consolidated into a shared container.
Terminal Handling Charge
The fee charged by marine port terminals for handling containers between the quay crane, terminal yard, and truck gate.
Vessel Cut-Off Time (Cargo Closing)
The deadline by which a container must be gated into the port terminal and customs cleared for loading onto the scheduled vessel.
Port of Loading
The designated seaport or terminal where cargo is loaded onto the ocean vessel to begin its maritime voyage.
Port of Discharge
The designated destination seaport where a container is unloaded from the ocean vessel.
Transhipment (Transshipment)
The unloading of a shipping container from one vessel and loading it onto another at an intermediate hub port to complete its journey.
Customs Hold
A mandatory regulatory restriction placed on an import or export container by customs authorities preventing gate movement until inspection or paperwork is satisfied.
Non-Vessel Operating Common Carrier
A licensed ocean cargo consolidator that issues its own House Bills of Lading and sells shipping space without owning or operating physical ships.
Bunker Adjustment Factor
A floating ocean freight surcharge that fluctuates based on global marine fuel oil (bunker) price variations.
General Rate Increase
An across-the-board increase in base ocean container freight rates announced by shipping lines across a specific trade lane.
Tare Weight
The empty, unladen weight of a shipping container or vehicle chassis without any cargo inside.
Container Payload
The maximum permissible weight of cargo, pallets, and packaging that can be safely loaded into a shipping container.
Chassis Split
An accessorial trucking fee charged when a drayage driver must travel to an off-dock chassis depot to pick up or return a trailer chassis.
Container Free Time
The grace period granted by ocean carriers and terminals during which a container can be held without incurring demurrage or detention charges.
Standard Carrier Alpha Code
A unique two to four letter code assigned by the NMFTA to identify transportation companies in freight documentation and customs manifests.
Bill of Lading
The definitive legal document issued by an ocean carrier acknowledging receipt of cargo for shipment, acting as a title document and carriage contract.
Shipping glossary FAQ
What is the purpose of this shipping glossary?
This glossary provides practical, operational definitions, calculation formulas, and regulatory context for international freight acronyms, maritime liner terms, port logistics jargon, and container shipping rules.
What do OCP, BDL, and LFD mean in shipping?
OCP stands for Overland Common Point (a special US rail-ocean intermodal rate); BDL stands for Bundle (or Bill of Lading packet); and LFD stands for Last Free Day (the final date before demurrage or detention charges begin).
How are freight calculations like Measurement Ton (M/T) determined?
A Measurement Ton represents 1 cubic meter (or 40 cubic feet). Carriers calculate freight on a Weight or Measurement (W/M) basis, charging whichever metric produces higher revenue for the voyage.
How does Panvaya use these terms in its tracking platform?
Panvaya translates raw carrier milestone codes and EDI status events into clear, standardized DCSA terms, automatically tracking critical deadlines like Last Free Day (LFD) and vessel berth arrival times.