Over 3600 Ocean Marine, Shipping, Chat & Insurance Terms and Abbreviations
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- B -

B2BI Business to Business Integration (form of supply chain)
B4N Bye For Now
BAK Back At Keyboard
B/A Banker's Acceptance
BAS Big Smile
BB Ballast Bonus  (Special payment above the Chartering price when the ship has to sail a long way on ballast to reach the loading port.)
BB Bareboat (Method of chartering of the ship leaving the charterer with almost all the responsibilities of the owner.)
B2B Business to Business
BBIAB Be Back In A Bit
BBL Be Back Later
BBN Bye Bye Now
BBS Be Back Soon
B/L Abbreviation for "Bill of Lading."
Back End Systems Legacy enterprise systems that handle order processing, inventory, and receivables management for both buyers and suppliers. To deploy a digital trading platform, companies must often integrate new technologies with these older systems, which can include mainframe or ERP applications.
Back Freight The owners of a ship are entitled to payment as freight for merchandise returned through the fault of either the consignees or the consignors. Such payment, which is over and above the normal freight, is called backfreight.
Back Haul To haul a shipment back over part of a route it has traveled.
Back Letter Seller or Shipper issues a "Letter of Indemnity" in favor of the carrier in exchange for a clean Bill of Lading. Back letters are drawn up in addition to a contract in order to lay down rights and/or obligations between both contracting parties, which, for some reason cannot be included in the original contract. This expression is sometimes used for letters of indemnity which are drawn up if the condition of the goods loaded gives rise to remarks and, nevertheless, the shipper insists upon receiving clean Bills of Lading. Letters of indemnity are only allowed in very exceptional circumstances.
Back Order The process a company uses when a customer orders an item that is not in inventory; the company fills the order when the item becomes available.
Back Scheduling A method of obtaining a production schedule by working backwards from the required due date, in order to predict the latest start date in consistent with meeting that due date.
Backbone A central high speed network that connects smaller, independent networks. the NSFnet is an example.
Backlog The quantity of goods still to be delivered, received, produced, issued, etc., for which the planned or agreed date has expired. The total number of customer orders which have been received but not yet been shipped.
Backup Making a duplicate copy of a computer file or a program on a disk or cassette so that the material will not be lost if the original is destroyed; a spare copy.
BAF Abbreviation for "Bunker Adjustment Factor." Used to compensate steamship lines for fluctuating fuel costs. Sometimes called "Fuel Adjustment Factor" or FAF.
Bagged Cargo Various kinds of commodities usually packed in sacks or in bags, such as sugar, cement, milk powder, onion, grain, flour, etc.
Bailee (Ins) A person or concern having possession of property committed in trust from the owner.
Bailee's Customer Policy (Ins) A policy providing for loss or or damages to property of bailee's customers, payable either to bailees for their account or direct to customers.
Bale A large compressed, bound, and often wrapped bundle of a commodity, such as cotton or hay.
Bale Capacity Cubic capacity of a vessel's hold to carry packaged dry cargo such as baled or pallets.
Bale Space See "Bale Capacity"
Ballast Heavy weight, usually sea water, necessary for the stability and safety of a ship not carrying cargo.
Ballast Bonus Compensation for a ballast voyage.
Ballast Movement A voyage or voyage leg made without any paying cargo in a vessel's tanks. To maintain proper stability, trim, or draft, sea water is usually carried during such movements.
Ballast Tank Compartments at the bottom of a ship or on the sides which are filled with liquids for stability and to make the ship seaworthy. Any shipboard tank or compartment on a tanker normally used for carrying salt-water ballast. When these compartments or tanks are not connected with the cargo system they are called segregated ballast tanks or systems.
Balloon Freight Light, bulky articles.
Bandwidth A measurement of the amount of data that can be transferred by a line at a time. The wider the bandwidth, the more data that can move at once.
Bank Guarantee Guarantee issued by a bank to a carrier to be used in lieu of lost or misplaced original negotiable bill of lading.
Banker's Acceptance Time draft that has been drawn on and accepted by a bank. In a large and active market, investors buy and sell bankers’ acceptances at rates similar to, and often below, LIBOR. Rates are low due to the low risk of default on the part of a bank and the fact that there is generally an underlying trade transaction, the proceeds of which are pledged to cover the acceptance when it matures.
Banking System For marine purposes the practice of always keeping more than one piece of cargo on the quay or in the vessel ready for loading or discharging in order to avoid delays and to obtain optimal use of the loading gear.
Bar Code A series of lines of various widths and spacings that can be scanned electronically to identify a carton or individual item.
Bar Code Scanner A device to read bar codes and communicate data to computer systems.
Bar Coding A method of encoding data for fast and accurate readability. Bar codes are a series of alternating bars and spaces printed or stamped on products, labels, or other media, representing encoded information which can be read by electronic readers called bar.
Bareboat Charter Owners lease a specific ship and control its technical management and commercial operations only. Charterers take over all responsibility for the operation of the vessel and expenses for the duration.
Barge Flat-bottomed boat designed to carry cargo on inland waterways, usually without engines or crew accommodations. Barges can be lashed together and either pushed or pulled by tugs, carrying cargo of 60,000 tons or more. Small barges for carrying cargo between ship and shore are known as lighters.
Barge Aboard Catamaran A way of loading cargo into large barges and then in turn loading the barges into a ship.
Barge Carriers Ships designed to carry either barges or containers exclusively, or some variable number of barges and containers simultaneously. Currently this class includes two types of vessels, the LASH and the SEABEE.
Barratry An act committed by the master or mariners of a vessel, for some unlawful or fraudulent purpose, contrary to their duty to the owners, whereby the latter sustain injury. It may include negligence, if so gross as to evidence fraud.
Barrel (BBL) A term of measure referring to 42 gallons of liquid at 60-degrees F
Bars Special devices mounted on container doors to provide a watertight locking. Synonym: Door lock bars.
Barter The exchange of commodities or services for other commodities or services rather than the purchase of commodities or services with money.
Base Home depot of container or trailer.
Base Point Pricing A pricing system that includes a transportation cost from a particular city or town in a zone or region even though the shipment does not originate at the basing point.
Base Rate - The currency whose value is "one" whenever a quote is made between two currencies.
A tariff term referring to ocean rate less accessorial charges, or simply the base tariff rate.
Basic Rate (Ins) The manual rate, from which are taken discounts or to which are added charges to compensate for the individual circumstances of the risk.
Basic Stock Items of an inventory intended for issue against demand during the resupply lead-time.
Batch A collection of products or data which is treated as one entity with respect to certain operations, e.g. processing and production.
Batch Lot A definite quantity of some product manufactured or produced under conditions that are presumed uniform and for production control purposes passing as a unit through the same series of operations.
Batch Picking The picking of items from storage for more than one order at a time.
Batch Production The production process whereby products/components are produced in batches and where each separate batch consists of a number of the same products/components.
Batten Members protruding from the inside walls of a vessel's hold or a (thermal) container to keep away the cargo from the walls to provide an air passage. They may be integral with the walls, fastened to the walls or added during cargo handling.
Bay A vertical division of a vessel from stem to stern, used as a part of the indication of a stowage place for containers. The numbers run from stem to stern; odd numbers indicate a 20 foot position, even numbers indicate a 40 foot position.
Bay Plan A stowage plan that shows the locations of all the containers on the vessel.
BB Break Bulk
BBB Before Breaking Bulk - Refers to freight payments that must be received before discharge of a vessel commences.
BBL Abbreviation for "Barrel"
BC Code Safe working practice code for solid bulk cargo.
BCO Abbreviation for "Beneficial Cargo Owner." Refers to the importer of record, who physically takes possession of cargo at destination and does not act as a third party in the movement of such goods.
BD or B/D Barrels per Day
BDI Both Dates Inclusive
Beam The width of a ship
BEG Big Evil Grin
Behaltertragwagen (BT Wagon) A container wagon for the German Railways
Belly A term applied to the underfloor area of an aircraft... the cargo carrying area.
Below Beneath the deck.
Belt Line A switching railroad operating within a commercial area.
Benchmarking A management tool for comparing performance against an organization that is widely regarded as outstanding in one or more areas, in order to improve performance.
Bending Moment It is the result of vertical forces acting on a ship as a result of local differences between weight and buoyancy. The total of these forces should be zero, otherwise change of draft will occur. At sea the bending moment will change as a result of wave impact which than periodically changes the buoyancy distribution..
Bends Both Ends (Loading & Discharge Ports)
Beneficial Ownership Designates the owner who receives the benefits or profits from the operation.
Beneficiary - Entity to whom money is payable.
- The entity for whom a letter of credit is issued.
- The seller and the drawer of a draft
Beneficiary (Ins)  Designation by the owner of a life insurance policy indicating to whom the proceeds are to be paid upon the insured's death or when an endowment matures.
Benefit-Cost Ratio Also known as "Cost-Benefit Ratio" - An analytical tool used in public planning; a ratio of total measurable benefits divided by the initial capital cost.
Benefit Of Insurance Clause (Ins) A clause by which the bailee of goods claims the benefit of any insurance policy effected by the cargo owner on the goods in care of the bailee. Such a clause in a contract of carriage, issued in accordance with the Carriage of Goods by Sea Act, is void at law.
Berne Gauge The most restrictive loading gauge (standard measure) or the lowest common denominator of loading gauges on the railways of continental Europe.
Berth A location in a port where a vessel can be moored, often indicated by a code or name.
Berth Terms Shipped under rate that includes cost from end of ship's tackle at load port to end of ship's tackle at discharge port.
Beyond Used with reference to charges assessed for cargo movement past a line-haul terminating point.
BFN Bye For Now
BG Big Grin
BI Both Inclusive
Bid Bond Bond, guarantee, or standby letter of credit that accompanies a bid, issued for an amount that will be forfeited if the bidder wins the bid but then reneges
Bilateral A contract term meaning both parties agree to provide something for the other.
Bilateral Transport Agreement Agreement between two nations concerning their transport relation.
Bill of Exchange In the United States, commonly known as a "Draft."   However, bill of exchange is the correct term.
Bill of Health The Bill of Health is the certificate issued by local medical authorities indicating the general health conditions in the port of departure or in the ports of call. The Bill of Health must have visa before departure by the Consul of the country of destination. When a vessel has free pratique, this means that the vessel has a clean Bill of Health certifying that there are no questions of contagious disease and that all quarantine regulations have been complied with, so that people may embark and disembark.
Bill of Lading (B/L)

A document that establishes the terms of a contract between a shipper and a transportation company. It serves as a document of title, a contract of carriage and a receipt for goods.

     At the moment 3 different models are commonly used:

B/L R 302: A modern document for either Combined Transport or Port to Port shipments depending whether the relevant spaces for place of receipt and/or place of delivery are indicated on the face of the document. Synonyms: Combined Transport Bill of Lading or Multimodal Transport document.

B/L R 300: A classic marine Bill of Lading in which the carrier is also responsible for the part of the transport actually performed by himself.

Sea Waybill: A non-negotiable document, which can only be made out to a named consignee. No surrender of the document by the consignee is required.


- Amended B/L: B/L requiring updates that do not change financial status; this is slightly different from corrected B/L.

- B/L Terms & Conditions: the fine print on B/L; defines what the carrier can and cannot do, including the carrier's liabilities and contractual agreements.

- B/L's Status: represents whether the bill of lading has been input, rated, reconciled, printed, or released to the customer.

- B/L's Type: refers to the type of B/L being issued. Some examples are: a Memo (ME), Original (OBL), Non-negotiable, Corrected (CBL) or Amended (AM) B/L.

- Canceled B/L: B/L status; used to cancel a processed B/L; usually per shipper's request; different from voided B/L.

- Clean B/L: A B/L which bears no superimposed clause or notation which declares a defective condition of the goods and/or the packaging.

- Combined B/L: B/L that covers cargo moving over various transports.

- Consolidated B/L: B/L combined or consolidated from two or more B/L's.

- Corrected B/L: B/L requiring any update which results in money- or other financially related changes.

- Domestic B/L: Non-negotiable B/L primarily containing routing details; usually used by truckers and freight forwarders.

- Duplicate B/L: Another original Bill of Lading set if first set is lost. also known as reissued B/L.

- Express B/L: Non-negotiable B/L where there are no hard copies of originals printed.

- Freight B/L: A contract of carriage between a shipper and forwarder (who is usually a NVOCC); a non-negotiable document.

- Government B/L (GBL): A bill of lading issued by the U.S. government.

- Hitchment B/L: B/L covering parts of a shipment which are loaded at more than one location. Hitchment B/L usually consists of two parts, hitchment and hitchment memo. The hitchment portion usually covers the majority of a divided shipment and carries the entire revenue.

- House B/L: B/L issued by a freight forwarder or consolidator covering a single shipment containing the names, addresses and specific description of the goods shipped.

- Intermodal B/L: B/L covering cargo moving via multimodal means. Also known as Combined Transport B/L, or Multimodal B/L.

- Long Form B/L: B/L form with all Terms & Conditions written on it.  Most B/L's are short form which incorporate the long form clauses by reference.

- Memo B/L: Unfreighted B/L with no charges listed.

- Military B/L: B/L issued by the U.S. military; also known as GBL, or Form DD1252.

- B/L Numbers: U.S. Customs' standardized B/L numbering format to facilitate electronic communications and to make each B/L number unique.

- Negotiable B/L: The B/L is a title document to the goods, issued "to the order of" a party, usually the shipper, whose endorsement is required to effect is negotiation.  Thus, a shipper's order (negotiable) B/L can be bought, sold, or traded while goods are in transit and is commonly used for letter-of-credit transactions.   The buyer must submit the original B/L to the carrier in order to take possession of the goods.

- Non-Negotiable B/L: See Straight B/L. Sometimes means a file copy of a B/L.

- "Onboard" B/L: B/L validated at the time of loading to transport. Onboard Air, Boxcar, Container, Rail, Truck and Vessel are the most common types.

- Optional Discharge B/L: B/L covering cargo with more than one discharge point option possibility.

- "Order" B/L: See Negotiable B/L.

- Original B/L: The part of the B/L set that has value, especially when negotiable; rest of set are only informational file copies. Abbreviated as OBL.

- Received for Shipment B/L: Validated at time cargo is received by ocean carrier to commence movement but before being validated as "Onboard".

- Reconciled B/L: B/L set which has completed a prescribed number of edits between the shippers instructions and the actual shipment received. This produces a very accurate B/L.

- Short Term B/L: Opposite of Long Form B/L, a B/L without the Terms & Conditions written on it. Also known as a Short Form B/L. The terms are incorporated by reference to the long form B/L.

- Split B/L: One of two or more B/L's which have been split from a single B/L.

- Stale B/L: A late B/L; in banking, a B/L which has passed the time deadline of the L/C and is void.

- Straight (Consignment) B/L: Indicates the shipper will deliver the goods to the consignee.  It does not convey title (non-negotiable).  Most often used when the goods have been pre-paid.

- "To Order" B/L: See Negotiable B/L.

- Unique B/L Identifier: U.S. Customs' standardization: four-alpha code unique to each carrier placed in front of nine digit B/L number; APL's unique B/L Identifier is "APLU". Sea-land uses "SEAU". These prefixes are also used as the container identification.

- Voided B/L: Related to Consolidated B/L; those B/L's absorbed in the combining process. Different from Canceled B/L.

Bill of Lading Clause A particular article, stipulation or single proviso in a Bill of Lading. A clause can be standard and can be preprinted on the B/L.
Bill of Lading Legal Liability (Ins) Policy covering the statutory minimums owed to a claimant for freight loss or damage when values for goods have not been declared, subject to terms & conditions.
Bill of Lading Number The number assigned by the carrier to identify the bill of lading.
Bill of Lading Port of Discharge Port where cargo is discharged from means of transport.
Bill of Materials A list of all parts, sub-assemblies and raw materials that constitute a particular assembly, showing the quantity of each required item.
Bill of Sale Confirms the transfer of ownership of certain goods to another person in return for money paid or loaned
Bill to Party Customer designated as party paying for services.
Billed Weight The weight shown in a waybill and freight bill, i.e, the invoiced weight.
Billing A carrier terminal activity that determines the proper rate and total charges for a shipment and issues a freight bill.
BIMCO Baltic and International Maritime Council
Bimodal Trailer A road semi-trailer with retractable running gear to allow mounting on a pair of rail boogies. Synonym: Road-Rail trailer A trailer which is able to carry different types of standardized unit loads, (e.g. a chassis which is appropriate for the carriage of one FEU or two TEU's).
Binder - A strip of cardboard, thin wood, burlap, or similar material placed between layers of containers to hold a stack together.
- In Insurance:
In lines other than life and health, a binder is an acknowledgement (usually from the agent) that insurance applied for is in force whether or not premium settlement has yet been made or the policy issued. In life and health insurance, binders are not issued, but if premium settlement is made with the application, what is often erroneously referred to as a "binder" is issued. Actually this is a conditional binding receipt.
Binder (Ins) In lines other than life and health, a binder is an acknowledgement (usually from the agent) that insurance applied for is in force whether or not premium settlement has yet been made or the policy issued. In life and health insurance, binders are not issued, but if premium settlement is made with the application, what is often erroneously referred to as a "binder" is issued. Actually this is a conditional binding receipt.
Binding Receipt (Ins) See "Binder"
BIOYIOP Blow It Out You I/O Port
BL See "Bales" or "Bill of Lading"
BL Belly Laughing
Black Cargo Cargo banned by general cargo workers for some reason. This ban could be because the cargo is dangerous or hazardous to health.
Black Gang A slang expression referring to the personnel in the engine department aboard ship.
Blank Endorsed Banking Term on Letters of Credit meaning "not endorsed"
Blanket Bond A bond covering a group of persons, articles or properties.
Blanket Insurance (Ins) (1) Property-liability insurance that covers more than one type of property in one location in one policy or form instead of under separate items, or one or more types of property at more than one location; (2) A contract of health insurance that covers all of a class of persons not individually identified.
Blanket Rate - A rate applicable to or from a group of points.
- A special rate applicable to several different articles in a single shipment.
Blanket Waybill A waybill covering two or more consignments of freight.
Blind Shipment A B/L wherein the paying customer has contracted with the carrier that shipper or consignee information is not given.
Block Stowage Stowing cargo destined for a specific location close together to avoid unnecessary cargo movement.
Blocked Trains Railcars grouped in a train by destination so that segments (blocks) can be uncoupled and routed to different destinations as the train moves through various junctions. Eliminates the need to break up a train and sort individual railcars at each junction.
Blocking or Bracing Wood or metal supports (Dunnage) to keep shipments in place to prevent cargo shifting
Bls. Abbreviation for "Bales."
BLS US Bureau of Labor Statistics
BM Beam
BMGWL Busting My Gut With Laughter
BN Booking Note
Board To gain access to a vessel.
Board Feet he basic unit of measurement for lumber. One board foot is equal to a one-inch board, 12 inches wide and one foot long. Thus, a board ten feet long, 12 inches wide, and one inch thick contains ten board feet.
Boatswain (Bosun) The highest unlicensed rating in the deck department who has immediate charge of all deck hands and who in turn comes under the direct orders of the master or chief mate or mate.
BOB Bunker On Board
Bobtail Movement of a tractor, without trailer, over the highway
Bodily Injury Liability (Ins) The liability which may arise from injury or death of another person.
BOFFER Best Offer
Bogie A set of wheels built specifically as rear wheels under the container.
Boilers Steam generating units used aboard ship to provide steam for propulsion (and) for heating and other auxiliary purposes.
Boiler & Machinery Policy (Ins) Insurance against loss due to accidents to boilers, pressure vessels or other machinery including the equipment itself, as well as liability arising out of the accident.
Bollard Post, fixed to a quay or a vessel, for securing mooring ropes.
Bolster A device fitted on a chassis or railcar to hold and secure the container.
Bona Fide In good faith; without dishonesty, fraud or deceit.
Bond Contract between principal and surety to insure performance of an obligation imposed by law or regulation covering potential loss of duties, taxes and penalties for specific types of transactions.
Bond (Ins) An obligation of the insurance company to protect one against financial loss caused by acts of another.
Bonded The storage of certain goods under charge of customs viz. customs seal until the import duties are paid or until the goods are taken out of the country. Bonded warehouse (place where goods can be placed under bond). Bonded store (place on a vessel where goods are placed behind seal until the time that the vessel leaves the port/country again). Bonded goods (dutiable goods upon which duties have not been paid, i.e. goods in transit or warehoused pending customs clearance).
Bonded Warehouse A building authorized by Customs authorities for storage of goods on which payment of duties is deferred until the goods are removed.
Bond-In Goods are held or transported In-Bond under customs control either until import duties or other charges are paid, or in order to avoid paying the duties or charges until a later date.
Bond Port Port of initial Customs entry of a vessel to any country. Also known as First Port of Call.
Bond System Bond System is part of US Customs' Automated Commercial System providing information on bond coverage.
Bonded See "Bond-In"
Bonded Freight Freight moving under a bond to U.S. Customs or to the Internal Revenue Service, and to be delivered only under stated conditions.
Bonded Warehouse A warehouse authorized by Customs authorities for storage of goods on which payment of duties is deferred until the goods are removed.
Booking Arrangements with a carrier for the acceptance and carriage of freight; i.e., a space reservation
Booking Number - Reservation number used to secure equipment and act as a control number prior to completion of a B/L
- Offer by shipper for transport and acceptance by carrier or agent
- Booking Reference Number
- Number assigned to booking by agent or carrier
Booking Reference Number See "Booking Number"
BOP Balance Of Payments
Bordereau Document used in road transport, listing the cargo carried on a road vehicle, often referring to appended copies of the road consignment note.
Bosun (Boatswain) The highest unlicensed rating in the deck department who has immediate charge of all deck hands and who in turn comes under the direct orders of the master or chief mate or mate.
BOTEC Back Of The Envelope Calculation
Bottleneck A stage in a process that limits performance
Bottom-Air Delivery A type of air circulation in a temperature control container. Air is pulled by a fan from the top of the container, passed through the evaporator coil for cooling, and then forced through the space under the load and up through the cargo. This type of airflow provides even temperatures.
Bottom Fittings Special conical shaped devices inserted between a container and the permanent floor on the deck of a vessel in order to avoid shifting of the container during the voyage of this vessel.
Bottom Lift Handling of containers with equipment attached to the four bottom corner fittings (castings).
Bottom Side Rails Structural members on the longitudinal sides of the base of the container.
Bow The front of a vessel
Bow Thrusters A propeller at the lower sea-covered part of the bow of the ship which turns at right angles to the fore-and-aft line and thus provides transverse thrust as a maneuvering aid.
Box Slang Term for Container
Boxcar A closed rail freight car.
Box Pallet Pallet with at least three fixed, removable or collapsible vertical sides.
BP B/P Balance of Payments
BPR See "Business Process Re-Engineering"
Bracing To secure a shipment inside a carrier's vehicle to prevent damage
BRB Be Right Back
Break Bulk - To commence discharge.
- To strip unitized cargo (aircargo).
- Loose cargo, such as cartons, stowed directly in the ship's hold as opposed to containerized or bulk cargo. See "Containeization."
Break Bulk Cargo General cargo conventionally stowed as opposed to unitized, containerized and Roll On / Roll Off cargo. (See also Conventional Cargo)
Break Bulk Vessel A general, multipurpose, cargo ship that carries cargoes of nonuniform sizes, often on pallets, resulting in labor-intensive loading and unloading; calls at various ports to pick up different kinds of cargoes.
Break-Even Rate The weight at which it is cheaper to charge the lower rate for the next higher weight-break multiplied by the minimum weight indicated, than to charge the higher rate for the actual weight of the shipment (aircargo).
BROB Bunker Remaining On Board
Broken Stowage - The loss of space caused by irregularity in the shape of packages.
- Any void or empty space in a vessel or container not occupied by cargo.
Broker - an enterprise that owns & leases equipment
- an enterprise that arranges the buying & selling of transportation, goods, or services
- a ship agent who acts for the ship owner or charterer in arranging charters.
Brokerage Freight forwarder/broker compensation as specified by ocean tariff or contract.
Brussels Tariff Nomenclature (BTN) The old Customs Cooperation Council Nomenclature for the classification of goods. Now replaced by the Harmonized System.
BSI Specification British Standards Institution Specification for freight containers
BSS Basis
BSS 1/1 Basis 1 Port to 1 Port
BT Berth Terms
BTN See "Brussels Tariff Nomenclature"
BT Wagen See "Behaltertragwagen"
B-to-B Business to Business
Bridge Used loosely to refer to the navigating section of the vessel where the wheel house and chart room are located; erected structure amidships or aft or very rarely fore over the main deck of a ship to accommodate the wheelhouse.
Bridge Point An inland location where cargo is received by the ocean carrier and then moved to a coastal port for loading.
Bridge Port A port where cargo is received by the ocean carrier and stuffed into containers but then moved to another coastal port to be waded on a vessel.
BTA But Then Again
BTDT Been There Done That
BTW By The Way
Buffer Stock A quantity of goods or articles kept in storage to safeguard against unforeseen shortages or demands.
Buildings & Personal Property Coverage Form (Ins) A commercial property coverage form designed to insure most types of commercial property (buildings or contents or both). It is the most frequently used commercial property form, and has replaced the General Property Form, Special Building Form, Special Personal Property Form, and others.
Bulk Cargo shipped in loose condition and of a homogeneous nature. Cargoes that are shipped unpackaged either dry, such as grain and ore, or liquid, such as petroleum products. Bulk service generally is not provided on a regularly scheduled basis, but rather as needed, on specialized ships, transporting a specific commodity.
Bulk Area A storage area for large items which at a minimum are most efficiently handled by the palletload.
Bulk Bags A large polythene liner that can be fitted to a 20'GP as an alternative to bulk containers.
Bulk Cargo Not in packages or containers; shipped loose in the hold of a ship without mark and count." Grain, coal and sulfur are usually bulk freight.
Bulk Carrier - Single deck vessel designed to carry homogeneous unpacked dry cargoes such as grain, iron ore and coal.
Ship specifically designed to transport vast amounts of cargoes such as sugar, grain, wine, ore, chemicals, liquefied natural gas; coal and oil. See also LNG Carrier, Tanker, OBO Ship.
Bulk Freight Not in packages or containers, shipped loose in the hold of the ship. Grain, coal and sulfur are usually bulk freight.
Bulk-Freight Container A container with a discharge hatch in the front wall; allows bulk commodities to be carried.
Bulk Shipments Shipments which are not packaged, but are loaded directly into the vesselŐs holds. Examples of commodities that can be shipped in bulk are ores, coal, scrap, iron, grain, rice, vegetable oil, tallow, fuel oil, fertilizers, and similar commodities.
Bulk Utilization Charge Charge which applies to consignments carried from airport of departure to airport of arrival, entirely in Unit Load Devices (aircargo).
Bulkhead - Upright partition dividing compartments on board a vessel. The functions of bulkheads are:
       - To increase the safety of a vessel by dividing it into watertight compartments.
       - To separate the engine room from the cargo holds.
       - To increase the transverse strength of a vessel.
       - To reduce the risk of spreading fire to other compartments.
- A vertically mounted board to provide front wall protection against shifting cargo and commonly seen on platform trailers (road cargo).
- A partition in a container, providing a plenum chamber and/or air passage for either return or supply air. It may be an integral part of the appliance or a separate construction.
- A vertically mounted wall separating the fore respectively aft compartment from the rest of the aircraft (aircargo).
Bull Rings Cargo-securing devices mounted in the floor of containers; allow lashing and securing of cargo. Upright partition dividing compartments on board a vessel. The functions of bulkheads are
-To increase the safety of a vessel by dividing it into watertight compartments
-To separate the engine room from the cargo holds.
-To increase the transverse strength of a vessel.
-To reduce the risk of spreading fire to other compartments.
-A vertically mounted board to provide front wall protection against shifting cargo and commonly seen on platform trailers (road cargo).
Bundling Assembling of pieces of cargo, secured into one manageable unit.
Bunker Charge An extra charge sometimes added to steamship freight rates; justified by higher fuel costs. (Also known as Fuel Adjustment Factor or FAF.)
Bunker A Maritime term referring to Fuel used aboard the ship. Coal stowage areas aboard a vessel in the past were in bins or bunkers.
Bunker Adjustment Factor (BAF) Adjustment applied by shipping lines or liner conferences to offset the effect of fluctuations in the cost of bunkers.
Bunkers Fuel consumed by the engines of a ship; compartments or tanks in a ship for fuel storage.
Buoy A floating object employed as an aid to mariners to mark the navigable limits of channels, their fairways, sunken dangers, isolated rocks, telegraph cables, and the like; floating devices fixed in place at sea, lake or river as reference points for navigation or for other purposes.
Bureau Veritas French classification society
Business Auto Coverage Form (Ins) The latest commercial Automobile Insurance coverage form, which may be written as a monoline policy or as part of a commercial package. This form has largely replaced the Business Auto Policy.
Business Income Coverage Form (Ins) A commercial property form providing coverage for "indirect losses" resulting from property damage, such as loss of business income and extra expenses incurred. It has replaced earlier Business Interruption and Extra Expense forms.
Business Interruption Insurance (Ins) A type of policy that pays for loss of earnings when operations are curtailed or suspended because of property loss.
Business Liability (Ins) The term used to describe the liability coverages provided by the Businessowners Liability Coverage Form. It includes liability for bodily injury, property damage, personal injury, advertising injury, and fire damage.
Business Personal Property (Ins) Traditionally known as "contents," this term actually refers to furniture, fixtures, equipment, machinery, merchandise, materials, and all other personal property owned by the insured and used in the insured's business.

Business Process Re-Engineering (BPR)

The fundamental analysis and radical redesign of everything: business processes and management systems, job definitions, organizational structures and beliefs and behaviors to achieve dramatic performance improvements to meet contemporary requirements. Information technology (IT) is a key enabler in this process.
Business to Business Integration (B2BI) Form of Supply Chain Management - manufacturers implement integration at the business process, application, data, and network layers to accomplish tight synchronization with their supply chain partners. B2BI projects promise to "extend the enterprise" to encompass business partners in much the same way the enterprise currently encompasses internal departments.
Buyer An enterprise that arranges for the acquisition of goods or services and agrees to payment terms for such goods or services.
Buyer's Market A 'buyer's market' is considered to exist when goods can easily be secured and when the economic forces of business tend to cause goods to be priced at the purchaser's estimate of value. In other words, a state of trade favorable to the buyer, with relatively large supply and low prices.
BWAD Brackish Water Arrival Draft
BWTHDIK But What The Heck Do I Know
DISCLAIMER:   These terms and definitions have been gathered from many sources public and private. This list is designed to serve as a reference. No warranty for the accuracy is stated nor implied.


Over 3600 Ocean Marine, Shipping, Chat & Insurance Terms and Abbreviations
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Last Updated:
Monday, 08 June 2009 14:22:27 -0400



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Debbie Miller
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Ocean Marine Division; Allen Insurance Group
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Email: debbie.miller@allcovered.net





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