Serhii Zhuran
19.08.2023
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Chartering abbreviations

Chartering abbreviations, also known as shipping abbreviations or maritime abbreviations, are a set of standardized codes and abbreviations used in the shipping and maritime industry to communicate information quickly and efficiently. These abbreviations are used in various documents, messages, and communications related to the chartering and operation of vessels.

Chartering abbreviations have been established over many years as the maritime industry developed and evolved. The use of standardized codes and abbreviations in shipping can be traced back to the early 20th century and has become more prevalent as the industry has become increasingly global and complex.

The language used within the shipping business may not be easily understood by everybody –please find a short list of explanations for some of the most common expressions, standard terms and abbreviations.


	Container shipping language
FCL	Full Container Load
LCL	Less Container Load
Out-of-Gauge / OOG	Oversized cargo, on Flat or Open Top container
CY/CY	Rate is valid from Container yard to Container yard - used for container shipments only
CFS/CFS	Rate is valid from Container Freight Station to Container Freight Station
DC container	Dry Cargo container - standart closed box container
DV container	Dry Van container - standart closed box container
GP container	General Purpose container - standart closed box container
HC container	High Cube container - container which is 1’ (abt 30 cm) higher than normal containers
OT container	Open Top container
FR container	Flatrack container
COC	Carriers own container
SOC	Shipper’s own container
	Breakbulk shipping terms
Liner Terms, hook/hook	Rate includes seafreight, loading to vessel, lashing and securing, unlashing and discharge. Any cost to hooking/unhooking not included, nor any landside/terminal cost whatsoever.
FIOS	Free in and out, stowed. It means that loading and discharge of goods, stowage, lashing and securing, is additional and not included in price.
Free out	Consignee shall arrange and cover cost of discharge of cargo from vessel.
FOT	Free on Truck. Loading and unloading of cargo to/from truck is NOT included
FILO	Free in / Liner Out – It means that loading incl. lashing & securing of goods are excluded in the price, but discharge cost are included in the price.
LIFO	Liner in / Free Out – Vice Versa of above
	Abbreviations
Agw, wp, wog	All Going Well, Weather Permitting, Without Guarantee
BAF	Bunker Adjustment Factor (surcharge for bunker costs)
Basis 1/1	Basis 1 port to 1 Port
BBB	Before Breakbulk Bulk. Refers to freight payment that must be received before discharge of a vessel commences. Often used when transit time is short
B/B	Breakbulk cargo
Bends	Both ends (Load & Discharge ports)
BOD	Board of Directors approval
Broken stowage	The cargo space which is unavoidable lost when stowing cargo. The percentage of wasted space depends upon e.g the kind of cargo, the packing and the used space.
CAF	Currency Adjustment Factor
Chargeable weight in Airfreight	In Airfreight, 1 cbm = 167 kgs. Example: shipment of 200 kgs 7.00 cbm, will be charged as 7.00 x 167 kgs = 1169 kgs.
Chopt	Charterers Option
COB	Closing of Business hours
COG	Center Of Gravity
Congestion	Accumulation of vessels at a port to the extent that vessels aariving to load or discharge are obliged to wait for a vacant berth.
CP (or C/P)	Charter Party
DWT	Dead Weight ton – definition of vessel size
Full-cargo / Sole-cargo	Vessel is booked only with one shipment cargo and will sail directly from port of loading to port of discharge
FHINC	Fridays, Holidays included (Muslim countries)
GRI	General Rate Increase – Expression used by container carriers, as example rate subject to GRI as from 1st July.
Grace period	Agreed free time in POL/POD before detention cost will count.
Gsbaaaa	One Good Safe Berth, Always Afloat, Always Accessible
Hot permit	Permit to perform welding work
LOA	Length Overall of the vessel
L/S/D/W	Lashing, securing, Dunnaged, Welding
Minimum inducement	Minimum freight rate applicable to start the the voyage to cover cost for loading operation, discharge operation and the voyage
Molchopt	More or Less Charterers Option
NOR	Notice of Readiness
Non-reversible	Detention. If loading completed sooner than expected, then saved days will not be added to discharge time allowed
Part-cargo	Expression used when booking with breakbulk carriers in tramp service. Part-cargo means that only part of the vessel is booked.
PDPR	Per Day Pro Rata
POL	Port of loading
POD	Port of discharge
PSS	Peak Season Surcharge – Extra surcharge applicable duing peak season
Recap	Recapitulation of the terms and conditions agreed
Reversible	Detention. If loading completed sooner than expected at load port, then days saved can be added to discharge operation
RO/RO	Roll on / Roll off – Vessel type with a ramp, ie car carriers
SHEX	Sundays, Holidays excluded
SHINC	Sundays, Holidays included
SSHEX	Saturday, Sunday, Holidays excluded
SOF	Statement of Facts
Static cargo	Cargo which is not on own wheels and can be rolled on board. Cargo will be stowed on roll trailers / mafi trailers
TBN	To be Named / To be Nominated
THC	Terminal handling charge
W/M, RT or FR	Weight / Measure, Revenue Ton, Freight ton: 1 ton equals 1 cbm. Each package is rated individually, depending on weight/volume

The frequency of using these abbreviations would depend on the level of familiarity among industry professionals, the nature of communication (formal contracts, emails, casual conversations, etc.), and the specific sector within the maritime industry (shipping companies, brokers, legal departments, etc.). It's important to note that while these abbreviations are commonly used, the context of the conversation or document would dictate whether they are necessary or appropriate.

The International Maritime Organization (IMO), a specialized agency of the United Nations responsible for regulating shipping, has played a significant role in standardizing many aspects of the maritime industry, including communication. While the IMO primarily focuses on safety, security, and environmental concerns, its work has also contributed to the establishment of standardized practices and codes that include shipping-related abbreviations.

It's important to note that while certain abbreviations have been established for a long time, the specific list of abbreviations and their meanings can vary between different regions and organizations. However, efforts have been made to create internationally recognized standards to improve communication and efficiency in the maritime industry. These standards continue to evolve as the industry adapts to new technologies and changing practices.

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Competence

Chartering abbreviations

Container shipping language

FCL

Full Container Load

LCL

Less Container Load

Out-of-Gauge / OOG

Oversized cargo, on Flat or Open Top container

CY/CY

Rate is valid from Container yard to Container yard - used for container shipments only

CFS/CFS

Rate is valid from Container Freight Station to Container Freight Station

DC container

Dry Cargo container - standart closed box container

DV container

Dry Van container - standart closed box container

GP container

General Purpose container - standart closed box container

HC container

High Cube container - container which is 1’ (abt 30 cm) higher than normal containers

OT container

Open Top container

FR container

Flatrack container

COC

Carriers own container

SOC

Shipper’s own container

Breakbulk shipping terms

Liner Terms, hook/hook

Rate includes seafreight, loading to vessel, lashing and securing, unlashing and discharge. Any cost to hooking/unhooking not included, nor any landside/terminal cost whatsoever.

FIOS

Free in and out, stowed. It means that loading and discharge of goods, stowage, lashing and securing, is additional and not included in price.

Free out

Consignee shall arrange and cover cost of discharge of cargo from vessel.

FOT

Free on Truck. Loading and unloading of cargo to/from truck is NOT included

FILO

Free in / Liner Out – It means that loading incl. lashing & securing of goods are excluded in the price, but discharge cost are included in the price.

LIFO

Liner in / Free Out – Vice Versa of above

Abbreviations

Agw, wp, wog

All Going Well, Weather Permitting, Without Guarantee

BAF

Bunker Adjustment Factor (surcharge for bunker costs)

Basis 1/1

Basis 1 port to 1 Port

BBB

Before Breakbulk Bulk. Refers to freight payment that must be received before discharge of a vessel commences. Often used when transit time is short

B/B

Breakbulk cargo

Bends

Both ends (Load & Discharge ports)

BOD

Board of Directors approval

Broken stowage

The cargo space which is unavoidable lost when stowing cargo. The percentage of wasted space depends upon e.g the kind of cargo, the packing and the used space.

CAF

Currency Adjustment Factor

Chargeable weight in Airfreight

In Airfreight, 1 cbm = 167 kgs. Example: shipment of 200 kgs 7.00 cbm, will be charged as 7.00 x 167 kgs = 1169 kgs.

Chopt

Charterers Option

COB

Closing of Business hours

COG

Center Of Gravity

Congestion

Accumulation of vessels at a port to the extent that vessels aariving to load or discharge are obliged to wait for a vacant berth.

CP (or C/P)

Charter Party

DWT

Dead Weight ton – definition of vessel size

Full-cargo / Sole-cargo

Vessel is booked only with one shipment cargo and will sail directly from port of loading to port of discharge

FHINC

Fridays, Holidays included (Muslim countries)

GRI

General Rate Increase – Expression used by container carriers, as example rate subject to GRI as from 1st July.