|ValveDepot Glossary of Shipping Terms|
|A B C D E F G H I J K L M N O P Q R S T U V W XYZ|
Abbreviation for "Dangerous and Hazardous" cargo.
DAF (Delivered At Frontier) (...Named Place): A Term of Sale which means the sellers fulfill their obligation to deliver when the goods have been made available, cleared for export, at the named point and placed at the frontier, but before the customs Terms of Sale border of the adjoining country. (continued)
Abbreviation for "Doing Business As." A legal term for conducting business under a registered name.
Abbreviation for "Destination Delivery Charge." A charge, based on container size, that is applied in many tariffs to cargo. This charge is considered accessorial and is added to the base ocean freight. This charge covers crane lifts off the vessel, drayage of the container within the terminal and gate fees at the terminal operation.
DDP (Delivered Duty paid) (...Named Port of Destination): "Delivered Duty Paid" means that the seller fulfills his obligation to deliver when the goods have been made available at the named place in the country of importation. The seller has to bear the risks and costs, including duties, taxes and other charges of delivering the goods thereto, clear for importation. While the EXW term represents the minimum obligation for the seller, DDP represents the maximum.
DDU (Delivered Duty Unpaid) (...Named Port of Destination): A Term of Sale where the seller fulfills his obligation to deliver when the goods have been made available at the named place in the country of importation. The seller has to bear the costs and risks involved in bringing the goods thereto (excluding duties, taxes and other official charges payable upon importation) as well as the costs and risks of carrying out customs formalities. The buyer has to pay any additional costs and to bear any risks caused by failure to clear the goods for in time.
One leg of a move without a paying cargo load. Usually refers to repositioning an empty piece of equipment.
A long ton of cargo that can be stowed in less than 40 cubic feet.
The number of tons of 2,240 pounds that a vessel can transport of cargo, stores and bunker fuel. It is the difference between the number of tons of water a vessel displaces "light" and the number of tons it displaces when submerged to the "load line."
Place where loose or other non-containerized cargo is ungrouped for delivery.
The weight by which a shipment is less than the minimum weight.
Order to pick up goods at a named place and deliver them to a pier. Usually issued by exporter to trucker but may apply to a railroad, which completes delivery by land. Use is limited to a few major U.S. ports. Also known as shipping delivery order.
Demurrage/Despatch money. (Under vessel chartering terms, the amount to be paid if the ship is loading/discharging slower/faster than foreseen.)
A penalty charge against shippers or consignees for
delaying the carrier's equipment beyond the allowed free time. The
free time and demurrage charges are set forth in the charter party or
The weight of cargo per cubic foot or other unit.
Container freight station or a designated area where empty containers can be picked up or dropped off.
DEQ (Delivered Ex Quay, [Duty Paid]) (...Named Port of Destination): A Term of Sale which means the DDU term has been fulfilled when the goods have been available to the buyer on the quay (wharf) at the named port of destination, cleared for importation. The seller has to bear all risks and costs including duties, taxes and other charges of delivering the goods thereto.
DES (Delivered Ex Ship) (...Named Port of Destination): A Term of Sale where the seller fulfills his/her obligation to deliver when the goods have been made available to the buyer on board the ship, uncleared for import at the named port of destination. The seller has to bear all the costs and risks involved in bringing the goods to the named port destination.
An incentive payment paid to a carrier to loading and unloading the cargo faster than agreed. Usually negotiated only in charter parties.
- The place to which a shipment is consigned.
Destination Control Statements
Various statements that the U.S. government requires to be displayed on export shipments. The statements specify the authorized destinations.
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.
DamageFree 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.
Discrepancy Letter of Credit
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 the situation back to the buyer and/or seller and await further instructions.
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 through rates where joint hauls are involved. This is usually according to agreed formulae.
- For ships, a cargo handling area parallel to the
shoreline where a vessel normally ties up.
A form used to acknowledge receipt of cargo and often serves as basis for preparation of the ocean bill of lading.
Present a rate proposal to a conference meeting for adoption as a conference group rate.
Documents Against Acceptance (D/A)
Instructions given by a shipper to a bank indicating that documents transferring title to goods should be delivered to the buyer only upon the buyer's acceptance of the attached draft.
Documents Against Payment (D/P)
An indication on a draft that the documents attached are to be released to the drawee only on payment.
A set of wheels that support the front of a container; used when the automotive unit is disconnected.
Through transportation of a container and its contents from consignor to consignee. Also known as House to House. Not necessarily a through rate.
Department of Transportation.
- The number of feet that the hull of a ship is
beneath the surface of the water.
An order issued by a seller against a purchaser; directs payment, usually through an intermediary bank. Typical bank drafts are negotiable instruments and are similar in many ways to checks on checking accounts in a bank.
A draft to which no documents are attached.
A draft that matures on a fixed date, regardless of the time of acceptance.
A time draft under a letter of credit that has been accepted and purchased by a bank at a discount.
A draft payable on demand upon presentation.
A draft that matures at a fixed or determinable time after presentation or acceptance.
A partial refund of an import fee. Refund usually results because goods are re-exported from the country that collected the fee.
The individual or firm that issues a draft and thus stands to receive payment.
Charge made for local hauling by dray or truck. Same as Cartage.
Abbreviation for "Destination Rail Freight Station." Same as CFS at destination, except a DRFS is operated by the rail carrier participating in the shipment.
Delay in Startup Insurance is a policy to protect the seller of a construction project from penalties if the project is not completed on time. See "Liquidated Damages."
Cargo that is not liquid and normally does not require temperature control.
A container constructed to carry grain, powder and other free-flowing solids in bulk. Used in conjunction with a tilt chassis or platform.
Attempting to import merchandise into a country at a price less than the fair market value, usually through subsidy by exporting country.
The terms in this glossary have been carefully selected by ValveDepot. We hope you will find it useful. This information is for reference only. ValveDepot will not have any liability for mis-use this information.