Glossary

A Norwegian classification society which certifies seagoing vessels for compliance to standardized rules regarding construction and maintenance.

A penalty charge against shippers or consignees for delaying carrier’s equipment beyond allowed time. Demurrage applies to cargo; detention applies to equipment. See Per Diem.

The unloading of a container or cargo van.

Damage–Free Car. Boxcars equipped with special bracing material.

An amount added or deducted from base rate to make a rate to or from some other point or via another route.

When documents presented do not conform to the requirements of the letter of credit (L/C), it is referred to as a “discrepancy.” Banks will not process L/C’s which have discrepancies. They will refer…

See Despatch.

The weight, in tons of 2,240 pounds, of the vessel and its contents. Calculated by dividing the volume of water displaced in cubic feet by 35, the average density of sea water.

A change made either in the route of a shipment in transit (see Reconsignment) or of the entire ship.

Carriers’ practice of dividing revenue received from rates where joint hauls are involved. This is usually according to agreed formulae.