In the world of ocean freight, there are several abbreviations used to simplify communication and documentation related to various charges and services. Below is a list of common abbreviations and their full forms:
O/F – Ocean Freight
The cost charged for transporting goods across the sea.BF – Booking Fee
A charge for reserving space on a vessel for cargo shipment.BAF – Bunker Adjustment Factor
A surcharge applied to cover fluctuations in fuel prices.THC – Terminal Handling Charges
Fees for the handling of containers at the terminal, including loading and unloading.DOC – Document Fee
A fee charged for preparing and handling shipping documents.VGM – Verified Gross Mass
The weight of the cargo, including the packaging, verified according to international shipping regulations.PCS – Port Congestion Surcharge
A surcharge applied when ports experience heavy congestion and delays.LSS – Low Sulphur Fuel Surcharge
A surcharge applied when shipping lines are required to use low-sulphur fuel, complying with environmental regulations.EIR – Equipment Interchange Receipt
A document that records the exchange of containers between shipping lines, terminals, and other parties.CAF – Currency Adjustment Factor
A surcharge applied to cover fluctuations in the exchange rate between the shipping company’s local currency and the cargo’s destination currency.EBS – Emergency Bunker Surcharges
A temporary surcharge to address sudden increases in bunker (fuel) prices.COD – Charge Of Diversion
A charge for diverting a shipment to a different destination port after it has been loaded.TEU – 20-foot Equivalent Unit
A unit of measure used to describe the capacity of containerized cargo, based on a standard 20-foot container.TRU – Trucking Fee
A fee charged for the transportation of goods by truck, either to or from the port.TELEX – Telex Release
A system used for releasing goods without the original bill of lading, often used for speedier cargo release.
These abbreviations represent the various charges and procedures involved in the shipping process, especially in ocean freight logistics. They are crucial for both shippers and carriers to understand and manage the complexities of international shipping.
