We receive a lot of questions regarding some of the terms that are frequently used in our quotes, and through the August Spotlight we hope to clarify these by simple definition. If you ever have any questions about one of our quotes, please give us a call so that we may walk you through them. 713-668-3388.
AES
AES enables freight forwarders and U.S. Principal Parties in Interest (USPPIs) to file commodity information electronically that was previously submitted on paper export declarations. Shipments for all modes of transportation (including airborne, waterborne, truck, and rail) can be submitted electronically through AES. Filings are mandatory for all export cargo valued over $2,500USD.
Hook/Hook
This is
the period of time from when the ship’s tackle hooks onto the cargo in the load port to when the ship’s tackle is removed in the discharge port.
CY/CY
Term used for container moves between container yards. A container yard is a port facility at which containers are accepted for loading onboard ships, and off-loaded containers are delivered to the consignees.
CY/Door
Container Yard/DOOR Shipping from origin CY point to consignee’s door point.
Door/Door
Supplier’s Door to Consignee’s Door.
FCL
Full Container Load
Transshipment
A port of call for an ocean vessel before final destination of cargo where cargo is trans-loaded onto another vessel.
Consignee
To whom goods have been consigned on the bill of lading.
BAF
Acronym for Bunker Adjustment Factor, which is the fluctuation of fuel cost. Transbordo
GRI
General Rate Increase. Term used when rates increase for containers when demand is high for a particular trade lane.
Bill of Lading
Serves as receipt, evidence and contract of transportation between the shipper and the carrier. Carrier will not release freight without payment of freight.
Bonded Warehouse
Customs approved warehouse for storage and/or manufacture of goods. Duties assessed and due when goods enter the U.S. for consumption. No duties due if re-exported.
