Logistics Glossary

Logistics Glossary - FreightArea.com

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Modal split The relative use that companies make of transportation modes; the statistics include ton-miles, passenger-miles, and revenue. Detay
Net Weight The weight of the merchandise, unpacked, exclusive of any containers. Detay
Notify Party The abbreviation of the name of an organization that should be notified when a shipment reaches its destination. Detay
Ocean Waybill A document, issued by a shipping line to a shipper which serves as a receipt for the goods and evidence of the contract carriage. Detay
Off-hire Clause In a time charter, the owner is entitled to a limited time for his vessel to be off hire until such time as the vessel may be repaired or dry-docked. Detay
Off-load Discharge of cargo from a ship. Detay
Open Rates Pricing systems that are flexible and not subject to conference approval. Usually applied to products in which tramps are substituted for liners. Detay
Open Registry A term used in place of "flag of convenience" or "flag of necessity" to denote registry in a country which offers favorable tax, regulatory, and other incentives to ship owners from other nations. Detay
Open Top Container A container fitted with a solid removable roof, or with a tarpaulin roof so the container can be loaded or unloaded from the top. Detay
Overtonnaging A situation where there are too many ships generally or in a particular trade for the level of available cargoes. Detay
Packing List A document containing information about the location of each Product ID in each package. It allows the recipient to quickly find the item he or she is looking for without a broad search of all packages. It also confirms the actual shipment of goods on a l Detay
Pallet A flat tray, generally made of wood but occasionally of steel, on which goods particularly those in boxes, cartons or bags, can be stacked. Its purpose is to facilitate the movement of such goods, mainly by the use of forklift trucks. Detay
Pallet wrapping machine A machine that wraps a pallet's contents in stretch-wrap to ensure safe shipment. Detay
Partial Containerships Multipurpose containerships where one or more but not all compartments are fitted with permanent container cells. Remaining compartments are used for other types of cargo. Detay
Port State Control The inspection of foreign ships in national ports for the purpose of verifying that the condition of a ship and its equipment comply with the requirements of international conventions and that the vessel is manned and operated in compliance with applicabl Detay
Prepaid Freight Freight paid by the shipper to the carrier when merchandise is tendered for shipment that is not refundable if the merchandise does not arrive at the intended destination. Detay
Pro Forma Invoice An invoice, forwarded by the seller of goods prior to shipment, that advises the buyer of the particulars and value of the goods. Usually required by the buyer in order to obtain an import permit or letter of credit. Detay
Pro-forma A type of quotation or offer that may be used when first negotiating the sales of goods or services. If the pro-forma is accepted, then the terms and conditions of the pro-forma may become the request. Detay
Purchase Order A document created by a buyer to officially request a product or service from a seller. It contains, among other things, the name and address of the buyer, the ship-to address, the quantity, product code (and expected price), requested ship or receipt dat Detay
Rail Waybill The bill of lading issued by rail carriers to their customers. Detay
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