| FCL |
Full Container Load |
| LCL |
Less-than Container Load |
| TEU |
Twenty-foot Equivalent Units. A measure for ship containers |
| BAF |
Bunker Adjustment Factor. This rate, which covers increasing fuel prices, is set by shipping companies once a month based on oil prices |
| CAF |
Currency Adjustment Factor. This rate, which covers devaluation of the currency in which the main cargo is calculated, is set by shipping companies and calculated as a percentage of the main cargo/freight. |
| PSS |
Peak Season Surcharges. This charge is calculated for each container in the peak season (from August to November) for containers from Asia to Europe. |
| Heavy Surcharge |
This surcharge is imposed on particularly heavy 20-foot containers from the Far East and depends on which shipping company is used and varies from port to port. |
| Low Sulphur Surcharge |
Surcharges are imposed on ships sailing in the Baltic Sea, Kattegat, Skagerrak, North Sea and the English Channel. |
| ISPS |
International Ship and Port Facility Security – refers to a surcharge resulting from the stricter requirements for transporters and port security. The surcharge is typically calculated per consignment. |
| Demurrage |
Demurrage is a charge payable to the owner of a chartered ship in respect of failure to load or discharge the ship within the time agreed. You have about three days to collect a container from the time notification arrives that it is ready. |
| Customs inspection fee |
linked to the freight forwarder and the shipping company’s management of the customs papers. |
| Wharfage |
A charge paid to the port for handling the container. This charge can vary from port to port. |
| EXW (Ex Works) |
(more detailed explanation provided under Incoterms) |
| FCA (Free Carrier) |
(more detailed explanation provided under Incoterms) |
| FAS (Free Alongside Ship) |
(more detailed explanation provided under Incoterms) |
| FOB (Free On Board) |
(more detailed explanation provided under Incoterms) |
| CFR (Cost and Freight) |
(more detailed explanation provided under Incoterms) |
| CIF (Cost, Insurance and Freight) |
(more detailed explanation provided under Incoterms) |
| CPT (Carraige Paid To) |
(more detailed explanation provided under Incoterms) |
| CIP (Carriage and Insurance Paid to) |
(more detailed explanation provided under Incoterms) |
| DAT (Delivered At Terminal) |
(more detailed explanation provided under Incoterms) |
| DAP (Delivered At Place) |
(more detailed explanation provided under Incoterms) |
| DDP (Delivered Duty Paid) |
(more detailed explanation provided under Incoterms) |
