TERMS USED IN SHIPPING

TERMS USED IN SHIPPING

The slang used in shipping can often be confusing, with shipping terms abound with abbreviations and acronyms. Here are some of the more common ones to help you negotiate your way through the goods transportation process.

B/L or BOL
This stands for Bill of Lading, and is the official document containing all the details of the shipment.

C&F or CFR
Cost and Freight  which is the cost of the goods plus the cost of transporting them.
Cost Insurance and Freight is part of the same category of shipping terms, but also includes the cost of marine insurance.

ETA and ETD
Commonly used shipping terms, these stand for Estimated Time of Arrival and Estimated Time of Departure

Cnee
This is an abbreviation for Consignee and designates the person or company in receipt of the shipment. The shipper is the person or company who sends the shipment.

C of O
Certificate of Originis a document which includes the country of origin of the goods in question, issued by the Chamber of Commerce, Embassy of the exporting country, or relevant government department.

EORI
An EORI is an Economic Operator Registration and Identification number which is used by customs to keep track of imported and exported goods.
They’re necessary if you want to import goods into the UK.

FOB
This stands for Free on Board and is where the seller is responsible for all of the charges for transporting the goods, as well as the liability. It stands up to the time when the goods arrive on board the ship.

FCL or LCL
Full container load or Less Container Load
.

POD and POL
The terms POD stands for Point of Discharge and is the port where the goods are unloaded from the ship; while POL is port at which the goods are loaded on to the ship “Point of  Loading”.

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