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Abbreviations used in marine shipping
Source: www.BigChina.eu 2007-12-19 10:43:53
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A very common problem for the fresh importers is the knowledge of the basic abbreviations used in marine shipping. Most of them stand for additional spedition charges which are added to the container's shipping cost net price. Below is a list of the most frequently used abbreviations.

It's good to know what the containter symbols mean. Here's a brief explanation regarding the three most commonly use containters:

1) 20' containter – measurments (lenght x width x height) 6.1m x 2.4m x 2.6m, inner cubic capacity 33 cubic metres
2) 40' container – measurments (lenght x width x height) 12.2m x 2.4m x 2.6m, inner cubic capacity 67 cubic metres
3) Higher 40' container (40HQ): – measurments (lenght x width x height) 12.2m x 2.4m x 2.9m, inner cubic capacity 76 cubic metres

Usualy the maximum container capacity is 28 tons.

Below is a handy list of the most important additional marine fees with a brief explanation. If you know them, than you'll be able to correctly calculate shipping costs.

BAF – Bunker Adjustment Factor. A fuel addition levied by the shipowner, usualy to avoid the consequences of prices' fluctuation on the fuel markets. A TEU (Twenty-feet Equivalent Unit – a unit of measurement representing the volume of 20' container) is the basis the calculating the BAF ammount.

CAF – Currency Adjustment Factor. A fee similar to the BAF only it regards the fluctuation of currency rates which affect other fees and prices.

Doc fee
– documents' fee.

CSF – Carrier Security Fee. The fee for the ship's security.

TSC – Terminal Security Charge. The fee for the terminal's security.

PSS – Peak Season Surcharge. A temporary, seasonal fee usualy levied when on a given freight market the demand for transport services increases and at the same time the shipowners are unable to raise the basic freight fees.
 
ISPS – International Ship & Port Facility Security Fee. A fee which is charged by all shipowners and marine ports because of the general international guidelines of raising security levels.