Basic Shipping Information

These are basic shipping terms which would be useful to know:

Bill of Lading (B/L) – Document serving three functions: (1) receipt for cargo prepared by the shipper and signed by the carrier; (2) ‘document of title’ to the cargo i.e. proof of ownership; and (3) provides evidence of terms and conditions of the contract of carriage of cargo by sea.

C & F / CFR – Cost and Freight – method of selling cargo where seller pays for loading costs and ocean freight.

CIF – Cost, Insurance and Freight – method of selling cargo where seller pays for loading costs, ocean freight and insurance.

Demurrage – financial compensation paid by charterer to the vessel for delays after the laytime has expired at the load/discharge port.

ETA – Estimated Time of Arrival (of vessel).

ETD – Estimated Time of Departure (of vessel).

FOB – Free On Board – method of selling cargo excluding ocean freight and insurance, but including loading costs.

 

The 20’ standard dry container has interior dimensions of 5.440 m x 2.294 m x 2.237 m (17’10 3/16″ x 7’6 1/4″ x 7’4 1/16″; L x W x H). This 20 ft container size has a door 7’6″ / 2.286 m wide and 7’4 1/16″ / 2.238 m high. The tare weight is 6,062 lbs or 2,750 kg. The maximum payload is 53,460 lbs (equal to 24,250 kg). The capacity is 986 cu. ft. (27.9 cbm).