Container shipping terms: main abbreviations
The next main abbreviations are adopted in the commercial practice for line transportations between ports:
- FIOS — Free in/out (loading/discharging is at consigner's cost);
- FIFO — Free in/Free out (vide FIOS);
- FILO — Free in/Liner out (loading is at consigner's cost, discharging is at liner cost);
- LIFO — Liner in/Free out (loading is at liner cost, discharging is at consigner's cost);
- LILO — Liner in/out (loading and discharging is at liner cost).
Depending on the shipping line or a particular port practice the different surcharges can be added to rate:
- CAF — (Currency Adjustment Factor) is a fee applied to the shipping costs to compensate for exchange rate fluctuations;
- BAF — (Bunker Adjustment Factor) refers to floating part of sea freight charges which represents additions due to oil prices;
- Wharfage is a port duty;
- CUC — (Chassis Using Charge) is a duty for using chassis;
- Documentation Fee is a duty for executing documents, etc.
Depending on shipping line extension of activity in the given territory, container can be delivered to the container yard located nearby port or to the hinterland. Also it can be delivered to the client’s “door”. Taking it into account the next additional terms can be added to the main line ones:
- FICY — Free in/Container yard (loading is at consigner's cost, delivering is provided to container yard);
- LI-Door — Liner in / Door (loading is at liner cost, delivering is provided to client's door).
As a rule if line provides door-to-door container delivering it hardly ever stuff or unstuff container. This question is resolved by consigner’s efforts or with help of forwarder.