Glossary

A contract for transportation between a shipper and a carrier. It also evidences receipt of the cargo by the carrier. A bill of lading shows ownership of the cargo and, if made negotiable,…

See Overland Common Points.

Abbreviation for “Operating Differential Subsidy.” An amount of money the U.S. government paid U.S. shipping companies that qualify for this subsidy. The intent was to help offset the higher subsidy. The intent was…

A notation on a bill of lading that cargo has been loaded on board a vessel. Used to satisfy the requirements of a letter of credit, in the absence of an express requirement…

A notation on a bill of lading that the cargo has been stowed on the open deck of the ship.

A trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment.

A marine insurance policy that applies to all shipments made by an exporter over a period of time rather than to one shipment only.

The water area of the open coast seaward of the ordinary low-water mark, or seaward of inland waters.

A container fitted with a solid removable roof, or with a tarpaulin roof so the container can be loaded or unloaded from the top.

A comparison of a carrier’s operating expense with its net sales. The most general measure of operating efficiency.