OCEAN & TRANSPORT TERMS

 

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Over 3600 Ocean Marine, Shipping, Chat & Insurance Terms and Abbreviations
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TERM DEFINITION
s Smile
S Big Smile
S4L Spam For Life
Sacrifice An act accomplished for the welfare of all interests, such as throwing part of a cargo overboard to keep a ship from sinking.
SAD See "Single Administrative Document"
Safety Stock The inventory a company holds beyond normal needs as a buffer against delays in receipt of orders or changes in customer buying patterns.
Safe Working Load (SWL) The maximum load any lifting appliance may handle.
Said To Contain (STC) Term in a Bill of Lading signifying that the master and the carrier are unaware of the nature or quantity of the contents of e.g. a carton, crate, container or bundle and are relying on the description furnished by the shipper.
Salvage Property saved from loss. The saving or rescue of a vessel and/or the cargo from loss and/or damage at sea.
Salvage (Ins) - Property taken over by an insurance company to reduce its loss;
- Award recoverable by salvors under maritime law.
Salvage Charges (Ins) The award due to a salvor for services rendered in saving the insured property.
Salvage Loss (Ins) Occurs when the Underwriter agrees to settle a cargo claim by paying the difference between the insured value and the proceeds realised by selling the damaged goods.
Salvage Stock Unused material that has a market value and can be sold.
Sanction An embargo imposed by a Government against another country.
SB Safe Berth
SBCD Scratching, Bruising, Chipping and/or Denting
Schedule (Ins) - A list of specified amounts payable for, usually, surgical procedures, dismemberments, ancillary expenses or the like in Health Insurance policies;
- The list of individual items covered under one policy as the various buildings or animals and other property in property insurance;
- In Marine policies, a list attached to a slip, open cover, policy or other document, usually detailing the rates of premium for various voyages, interests and risks.
Schedule of Loss (Ins)  Notice completed by the insured documenting loss or damage to contents, personal property and/or stock.
Scrap Material Unusable material that has no market value.
SD Single Decker
S/D Abbreviation for:
- Sight draft.
- Sea damage.
SCAC Code See Owner Code.
Scale Ton Freighting measurement used in certain trades for various commodities.
Schedule - A timetable including arrival/departure times of ocean- and feeder vessels and also inland transportation.
- It refers to named ports in a specific voyage (journey) within a certain trade indicating the voyage number(s).
- In general: The plan of times for starting and/or finishing activities.
Schedule B The Statistical Classification of Domestic and Foreign Commodities Exported from the United States.
SCM See Supply Chain Management
SCOON Shooting Coffee Out Of Nose (laughing hard or shocked)
SCP See "Simplified Clearance Procedure"
SCR See "Specific Commodity Rate"
SDR See "Special Drawing Rights"
Sea-Bee Vessels Ocean vessels constructed with heavy-duty submersible hydraulic lift or elevator system at the stern of the vessel. The Sea-Bee system facilitates forward transfer and positioning of barges. Sea-Bee barges are larger than LASH barges. The Sea-Bee system is no longer used.
Seafreight Costs charged for transporting goods over the sea. This does not cover haulage or loading/discharging costs but the sea transport only
Sea Waybill Document indicating the goods were loaded onboard when a document of title (b/L) is not needed.  Typically used when a company is shipping goods to itself.
Seal A device used for containers, lockers, trucks or lorries to proof relevant parties that they have remained closed during transport.
Seal Log A document used to record seal numbers.
Seal Number The identifier assigned to the tag used to secure or mark the locking mechanism on closed containers.
Seals On Containers Attached to locking device on container to prevent pilferage and to certify no tampering; made of steel by customs or carrier.
Seasonal Inventory Inventory built up in anticipation of a seasonal peak of demand in order to smooth production.
Seaworthiness The fitness of a vessel for its intended use.
Seaworthiness Warranty (Ins) There is an implied warranty in every voyage policy that the ship must be seaworthy at the commencement of the insured voyage or, if the voyage is carried out in stages, at the commencement of each stage of the voyage. To be seaworthy, the ship must be reasonably fit in all respects to encounter the ordinary perils of the contemplated voyage, property crewed, fuelled and provisioned, and with all her equipment in proper working order. Cargo policies waive breach of the warranty, except where the Assured or their servants are privy to the unseaworthiness. Breach of the warranty is not excused in a hull voyage policy, literal compliance therewith being required. Although there is no warranty of seaworthiness in a hull time policy, claims arising from unseaworthiness may be prejudiced if the ship sails in an unseaworthy condition with the knowledge of the Assured.
Sectional Rate The rate established by scheduled air carrier(s) for a section of a through route (aircargo).
Security (Ins) The Underwriters subscribing a risk. The Insurers.
SED U.S. Commerce Department document, "Shipper's Export Declaration."
Segregation Distance required by the rules of IMDG or BC codes between the various commodities of dangerous and or bulk cargoes.
SELFD Self-Discharging
Self Sustaining Ship A containership which has her own crane for loading and discharging shipping containers enabling the ship to serve ports which do not have suitable lifting equipment.. See also "Geared"
Sellers Interest Clause (INS) (Exports)

A Contingency Clause

   Insurers hereon agree to grant this policy cover retrospective to the commencement of the transit in the event of ownership and/or responsibility for the goods remaining with or reverting to the Seller consequent upon any of the following contingencies:
i)     the Buyer failing to or refusing to accept or being prevented from accepting the documents of title;
ii)    the Buyer failing to or refusing to accept or being prevented from accepting the whole consignment;
iii)   the Seller exercising a right to lien of the goods, or interrupting their transit, or suspending the sale               contract whilst the goods are in transit, when this is reasonable to safeguard the Sellers interest.
   The Insured must use all reasonable and usual care, skill and forethought and take all practical measures which may be required by Insurers to prevent or minimise loss and to enforce the contract sale.
   All rights and benefits against the Buyer and/or the Buyers Insurers and/or Carrier(s) and/or other persons are to be subrogated to Insurers.
   The Insured must advise Insurers immediately of the occurrence of any of the contingencies referred to above.
   Delay and/or deviation as defined in the Transit Clause of the Institute Cargo Clause and/or storage and/or change of voyage are held covered at an additional premium to be agreed. This overrides any termination of adventure provisions in such Clauses.
   The insurance and any money payable hereunder are not assignable without the consent in writing of the Insurers.
   The existence of this insurance is not to be disclosed to the buyer.
SEE ALSO: "CIF Shippers Difference In Conditions Clause" (Imports)
Sellers' Market A 'seller's market' is considered to exist when goods cannot easily be secured and when the economic forces of business tend to be priced at the vendor's estimate of value. In other words, a state of trade favorable to the seller, with relatively great demand and high prices of something for sale.
Semi Trailers Containers or flatbed freight trailers pulled behind "tractors" or "lorries"
Sender See "Shipper"
Service Bill    A service Bill (of Lading) is a contract of carriage issued by one carrier to another for documentary and internal control purposes.
-For internal documentary and control purposes a so-called participating agent in a consortium uses some kind of document which, depending on the trade, is referred to as 'Memo bill' which will among others state:
-Name of Carrier on whose behalf the original document (Way Bill, Bill of Lading, etc.) was issued.
-The original document number.
-The agent who issued the original document and his opponent at the discharging side.
-The number of packages, weight and measurement, marks and numbers and goods description.
- Further mandatory details in case of special cargo.
- No freight details will be mentioned and the Memo Bill is not a contract of carriage.
See Bill of Lading.
Service Contract A contract between a shipper and an ocean carrier or conference, in which the shipper makes a commitment to provide a minimum quantity of cargo over a fixed time period. The ocean carrier or conference also commits to a rate or rate schedule as well as a defined service level, such as space, transit item, port rotation, or other features.
Service Level A measure for the extent to which the customer orders can be executed at delivery conditions normally accepted in the market.
Settling Agent An underwriter’s overseas representative authorized to investigate and pay claims.
Service A string of vessels which makes a particular voyage and serves a particular market.
Service Contract As provided in the Shipping Act of 1984, a contract between a shipper (or a shippers association) and an ocean common carrier (or conference) in which the shipper makes a commitment to provide a certain minimum quantity of cargo or freight revenue over a fixed time period, and the ocean common carrier or conference commits to a certain rate or rate schedule as well as a defined service level (such as assured space, transit time, port rotation or similar service features). The contract may also specify provisions in the event of nonperformance on the part of either party.
SETE Smiling Ear To Ear
Setting/Air Delivery Temperature - An indication in the documents (B/L) stating the air supply temperature to the container.
- Note: No other details than this temperature shall be included in the Bill of Lading.
SF Stowage Factor. Cubic space (measurement tonne) occupied by one tonne (2,240 lbs/1,000 kgs) of cargo
SF Surfer Friendly (low graphics web site that loads quickly)
SHEX Saturday and Holidays Excluded.
SHID Slaps Head In Disgust
Shifting This refers to movements or changing positions of cargo from one place to another. This can easily endanger the seaworthiness or cargoworthiness of the ship.
SHINC Saturday and Holidays Included.
Ship See "Vessel"
Ship Agent A liner company or tramp ship operator representative who facilitates ship arrival, clearance, loading and unloading, and fee payment while at a specific port.
Ship Broker A firm that serves as a go-between for the tramp ship owner and the chartering consignor or consignee.
Ship Chandler An individual or company selling equipment and supplies for ships.
Ship Demurrage A charge for delaying a steamer beyond a stipulated period.
Ship's Bells Measure time onboard ship. One bell sounds for each half hour. One bell means 12:30, two bells mean 1:00, three bells mean 1:30, and so on until 4:00 (eight bells). At 4:30 the cycle begins again with one bell.
Ship's Manifest A statement listing the particulars of all shipments loaded for a specified voyage.
Ship's Protest Statement of the master of a vessel before (in the presence of) competent authorities, concerning exceptional events which occurred during a voyage.
Ship's Tackle All rigging, cranes, etc., utilized on a ship to load or unload cargo.
Shipment The tender of one lot of cargo at one time from one shipper to one consignee on one bill of lading.
- See "Consignment"
Ship Operator A ship operator is either the shipowner or the (legal) person responsible for the actual management of the vessel and its crew.
Ship Owner The (legal) person officially registered as such in the certificate of registry where the following particulars are contained.
- Name of vessel and port of registry.
- Details contained in surveyors certificate.
- The particulars respecting the origin stated in the declaration of ownership.
- The name and description of the registered owner, if more than one owner the proportionate share of each.
Shipped On Board (SOB) An endorsement on a B/L confirming loading of goods on the vessel. See also Cell Position.
Shipper The person or company who is usually the supplier or owner of commodities shipped. Also called "Consignor" or "Sender"
Shippers Agent A firm that primarily matches up small shipments, especially single-traffic piggyback loads, to permit shippers to use twin-trailer piggyback rates.
Shippers Association A non-profit entity that represents the interests of a number of shippers. The main focus of shippers associations is to pool the cargo volumes of members to leverage the most favorable service contract rate levels.
Shipper's Export Declaration (SED,"Ex Dec") - A joint Bureau of the Census' International Trade Administration form used for compiling U.S. exports. It is completed by a shipper and shows the value, weight, destination, etc., of export shipments as well as Schedule B commodity code.
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The SED includes complete particulars on individual shipments and is used to control exports and act as a source document for the official U.S. export statistics. SEDs must be prepared for shipments through the U.S. Postal Service when the shipment is valued over $500. SEDs are required for shipments, other than by the U.S. Postal Service, where the value of commodities classified under each individual Schedule B number is over $2,500. SEDs must be prepared, regardless of value, for all shipments requiring a validated export license or destined for countries prohibited by the Export Administration Regulations. SEDs are prepared by the exporter and the exporter's agent and delivered to the exporting carrier (such as: post office, airline, or vessel line). The exporting carrier presents the required number of copies to the U.S. Customs Service at the port of export.
Shippers Indemnity Indemnity given by the beneficiary of a letter of credit to the negotiating bank to induce payment despite any discrepancies that may exist in the documents.
Shipper's Instructions Shipper's communication(s) to its agent and/or directly to the international water-carrier. Instructions may be varied, e.g., specific details/clauses to be printed on the B/L, directions for cargo pickup and delivery.
Shipper's Letter of Instructions for issuing an Air Waybill (SLI) The document required by the carrier or freight forwarders to obtain (besides the data needed) authorization to issue and sign the air waybill in the name of the shipper.
Shipper's Load & Count (SL&C) Shipments loaded and sealed by shippers and not checked or verified by the carriers.
Shipping Act of 1916 The act of the U.S. Congress (1916) that created the U.S. Shipping Board to develop water transportation, operate the merchant ships owned by the government, and regulate the water carriers engaged in commerce under the flag of the United States. As of June 18, 1984, applies only to domestic offshore ocean transport.
Shipping Act of 1984 Effective June 18, 1984, describes the law covering water transportation in the U.S. foreign trade.
Shipping Act of 1998 Amends the Act of 1984 to provide for confidential service contracts and other items.
Shipping Container Standard-sized rectangular box used to transport freight by ship, rail and highway. International shipping containers are 20 or 40 feet long, conform to International Standards Organization (ISO) standards and are designed to fit in ships' holds. Containers are transported on public roads atop a container chassis towed by a tractor.
Shipping Documents Documents required for the carriage of goods.
Shipping Instructions A document detailing the cargo and the requirements of its physical movement.
Shipping Label A label attached to a shipping unit, containing certain data.
Shipping Mark The letters, numbers or other symbols placed on the outside of cargo to facilitate identification.
Shipping Note Document provided by the shipper or his agent to the carrier, multimodal transport operator, terminal or other receiving authority, giving information about export consignments offered for transport, and providing for the necessary receipts and declarations of liability.
Shipping Order Shipper's instructions to carrier for forwarding goods; usually the triplicate copy of the bill of lading.
Shipping Terms That part of a contract of sale that specifies who, between the buyer and the seller, is responsible for each aspect of shipping the goods, e.g., for packing, arranging and paying for transportation and insurance, clearing customs, etc.
Shipping Weight Shipping weight represents the gross weight in kilograms of shipments, including the weight of moisture content, wrappings, crates, boxes, and containers (other than cargo vans and similar substantial outer containers).
Ships

- Bulk Carriers: All vessels designed to carry bulk cargo such as grain, fertilizers, ore, and oil.

- Combination Passenger and Cargo Ships: Ships with a capacity for 13 or more passengers.

- Freighters: Breakbulk vessels both refrigerated and unrefrigerated, containerships, partial containerships, roll-on/roll-off vessels, and barge carriers.

- Barge Carriers: Ships designed to carry barges; some are fitted to act as full containerships and can carry a varying number of barges and containers at the same time. At present this class includes two types of vessels LASH and Sea-Bee.

- General Cargo Carriers: Breakbulk freighters, car carriers, cattle carriers, pallet carriers and timber carriers.

- Full Containerships: Ships equipped with permanent container cells, with little or no space for other types of cargo.

- Partial Containerships: Multipurpose containerships where one or more but not all compartments are fitted with permanent container cells. Remaining compartments are used for other types of cargo.

- Roll-on/Roll-off vessels: Ships specially designed to carry wheeled containers or trailers using interior ramps.

- Tankers: Ships fitted with tanks to carry liquid cargo such as: crude petroleum and petroleum products; chemicals, Liquefied gasses(LNG and LPG), wine, molasses, and similar product tankers.

Ship's Agent A person or firm who transacts all business in a port on behalf of shipowners or charterers. Also called shipping agent
Ship's Articles A written agreement between the master of a ship and the crew concerning their employment. It includes rates of pay and capacity of each crewman, the date of commencement of the voyage and its duration.
Shore A prop or support placed against or beneath anything to prevent sinking or sagging.
Shore Clause A marine cargo policy clause covering an ocean shipment against named perils while on land – necessary because the policy provides protection from warehouse to warehouse.
Short Haul Discrimination Charging more for a shorter haul than for a longer haul over the same route, in the same direction, and for the same commodity.
Short Rate (Ins) Cancellation of an insurance contract at the request of the policyholder with a refund of premiums to the policyholder less than would be given under pro-rata consideration.
Short Ton (ST) 2,000 pounds.
Shrink Wrap Polyethylene or similar substance heat-treated and shrunk into an envelope around several units, thereby securing them as a single pack for presentation or to secure units on a pallet.
Shut Out Containers not carried on intended vessel.
Shuttle Service The carriage back and forth over an often short route between two points.
SIC See "Standard Industrial Classification"
SID Single Decker
Side Loader A lift truck fitted with lifting attachments operating to one side for handling containers.
Side-Door Container A container fitted with a rear door and a minimum of one side door.
Siding A short railroad track connected with a main track by a switch to serve a warehouse or an industrial area.
Sight Time of presentation, as in a draft payable "at sight" or "90 days after sight."
Sight Draft A draft payable upon presentation to the drawee. Draft that demands payment "at sight," or immediately, as opposed to a time draft, which may be payable "90 days after sight" or "30 days after bill of lading date."
Silent Confirmation Term used for a bank’s commitment to negotiate (i.e., purchase) documents under a letter of credit without recourse at a future date. A silent confirmation is not a confirmation in the true sense, and will not use the word "confirm," but is rather an equivalent form of protection for the beneficiary. The bank will require that the letter of credit be negotiable or payable by itself in order to be able to establish holder-in-due-course rights equivalent to those of a confirming bank.
Simplified Clearance Procedure (SCP) A procedure covering non-restricted goods which enables approved exporters or agents to export goods on presentation of minimum information. The full statistical information is supplied within 14 days of shipment.
Single Administrative Document (SAD) A set of documents, replacing the various (national) forms for customs declaration within European Community, implemented on January 1st, 1988. The introduction of the SAD constitutes an intermediate stage in the abolition of all administrative documentation in intra European Community trade in goods between member states.
Sister Ships Ships built on the same design
Skeleton Trailer Road trailer consisting of a frame and wheels, specially designed to carry containers. See "Chassis"
Skids Battens, or a series of parallel runners, fitted beneath boxes or packages to raise them clear of the floor to permit easy access of forklift blades or other handling equipment.
SKU See "Stock Keeping Unit"
SL&C Shipments loaded and sealed by shippers and not checked or verified by the carriers.
SL/W Shippers load and count.  All three clauses are used as needed on the bill of lading to exclude the carrier from liability when the cargo is loaded by the shipper.
Sleeper Sleeping compartment mounted behind a truck cab, sometimes attached to the cab or even designed to be an integral part of it.
Sleeper Team Two drivers who operate a truck equipped with a sleeper berth; while one driver sleeps in the berth to accumulate mandatory off-duty time, the other driver operates the vehicle.
Sleepers Loaded containers moving within the railroad system that are not clearly identified on any internally generated reports.
SLI See "Shipper's Letter of Instruction"
Sliding Tandem An undercarriage with a subframe having provision for convenient fore and aft adjustment of its position on the chassis/semi-trailer. The purpose being to be able to shift part of the load to either the king pin or the suspension to maximize legally permitted axle loads (road cargo).
Sling A wire or rope contrivance placed around cargo and used to load or discharge it to/from a vessel.
Slip A vessel's berth between two piers. Alternatively: In Insurance, the details of a risk for which insurance is sought.
Slip Sheet Similar to a pallet, the slip sheet, which is made of cardboard or plastic, is used to facilitate movement of unitized loads.
Slot The space on board a vessel, required by one TEU, mainly used for administrative purposes.
Slot Charter A voyage charter whereby the shipowner agrees to place a certain number of container slots (TEU and/or FEU) at the charterer's disposal.
Slurry Dry commodities that are made into a liquid form by the addition of water or other fluids to permit movement by pipeline.
SN Satellite Navigation
SNAFU Situation Normal, All Fouled Up
SOB See "Shipped On Board"
SOC Shipper Owned Container
SOF Statement Of Facts
SOL Smiling Out Loud or Out of Luck
SOLAS Safety of Life a Sea Convention
Solvency (Ins) Sufficient assets and income.  It is the primary responsibility of a state's insurance department is to monitor insurance companies licensed to transact business within their state and make certain that they remain solvent and have the ability to pay the claims of their policyholders.
SOT Short Of Time (in a hurry)
SOTMG Short Of Time, Must Go
SP Safe Port
SPA Abbreviation for "Subject to Particular Average." See also Particular Average.
Space & Equipment Reservation A business transaction between two enterprises to arrange for services to facilitate the movement of goods via a carrier.
Space & Equipment Request A business transaction between two enterprises. An enterprise that has goods to be moved will contact an entity that provides transport services to request space and equipment for an upcoming shipment. The request serves as the first action to launch a set of negotiations between the two enterprises.
Space Charter A voyage charter whereby the shipowner agrees to place part of the vessels capacity at the charterers disposal.
Special Commodities Carrier A common carrier trucking company that has authority to haul a special commodity; the sixteen special commodities include household goods, petroleum products, and hazardous materials.
Special Commodity Warehouse A warehouse that is used to store products requiring unique facilities, such as grain (elevator), liquid (tank), and tobacco (barn).
Special Customs Invoice An official form usually required by U.S. Customs if the rate of duty is based upon the value and the value of the shipment exceeds $500. This document is usually prepared by the foreign exporter or his forwarder and is used by Customs in determining the value of the shipment. The exporter or his agent must attest to the authenticity of the data furnished.
Special Drawing Rights (SDR) Unit of account from the International Monetary Fund (IMF), i.a. used to express the amount of the limitations of a carrier's liability.
Special Marine Policy Issued under an open policy when the buyer wants evidence of insurance for the specific merchandise and voyage involved.
Special Rate A rate other than a normal rate (aircargo).
Specific Commodity Rate (SCR) A rate applicable to carriage of specifically designated commodities (aircargo).
Specified Rate A rate specified in an IATA Cargo Tariff Coordination Conference resolution (aircargo).
Speedability Top speed a vehicle can attain as determined by engine power, engine governed speed, gross weight, driveline efficiency, air resistance, grade and load.
Spidering Strengthening of circular tanks for transport, this prevents the tanks from becoming warped. The tanks are strengthened with steel or wood crossbeams giving a "spider" appearance
Spine Car An articulated five-platform railcar. Used where height and weight restrictions limit the use of stack cars. It holds five 40-foot containers or combinations of 40- and 20-foot containers.
Spoke The stretch between a hub and one of the group of consignees and/or consignors being served by the hub.
Spontaneous Ignition Temperature The lowest temperature at which a substance will start burning spontaneously without an external source of ignition.
Spot Market A market for unplanned purchases not made under contract terms. Transactions usually made on a one-time basis. Related terms: spot buy, spot demand.
Spot (Voyage) A charter for a particular vessel to move a single cargo between specified loading port(s) and discharge port(s) in the immediate future. Contract rate ("spot" rate) covers total operating expenses, i.e., bunkers, port charges, canal tolls, crew's wages and food, insurance and repairs. Cargo owner absorbs, in addition, any expenses specifically levied against the cargo.
Spotting Placing a container where required to be loaded or unloaded.
Spreader - A piece of equipment designed to lift containers by their corner castings.
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Device used for lifting containers and unitized cargo.
- Beam or frame that holds the slings vertical when hoisting a load, to prevent damage to cargo
Spur Line A railroad track that connects a company's plant or warehouse with the railroad's track; the user bears the cost of the spur track and its maintenance.
SRBL Shipping & Releasing Bill of Lading
S.R. & C.C.
(SRCC)
Strikes, Riots and Civil Commotion perils excluded in the basic marine cargo policy, but coverable by endorsement or ICC Strikes Clauses.
SSHEX Saturdays, Sundays, Holidays Excluded
SSHINC Saturdays, Sundays, Holidays Included
Stability The force that holds a vessel upright or returns it to upright if keeled over. Weight in the lower hold increases stability. A vessel is stiff if it has high stability, tender if it has low stability.
Stack An identifiable amount of containers stowed in a orderly way in one specified place on an (ocean) terminal, container freight station, container yard or depot (see container stack).
Stack Car An articulated five-platform rail car that allows containers to be double stacked. A typical stack car holds ten 40-foot equivalent units (FEU's).
Stacking To pile boxes, bags, containers etc. on top of each other.
Stacktrain A rail service whereby rail cars carry containers stacked two high on specially operated unit trains. Each train includes up to 35 articulated multi-platform cars. Each car is comprised of 5 well-type platforms upon which containers can be stacked. No chassis accompany containers.
Stack Weight The total weight of the containers and cargo in a certain row.
Stage The act of locating goods at a specific location to prepare for movement.
Standard Efforts to create wide use of specific protocols so software from different vendors can interoperate more easily, particularly within a vertical industry. Standards bodies or efforts often work more slowly than entrepreneurial companies in setting up interoperable terms of trade. Many e-commerce standards today are based on XML (eXtensible Markup Language), which provides a flexible way to describe product specifications or business terms.
Standard Industrial Classification (SIC) A standard numerical code used by the U.S. Government to classify products and services.
Standard International Trade Classification (SITC) A standard numeric code developed by the United Nations to classify commodities used in international trade, based on a hierarchy.
Standard Product Module (SPM) The building blocks used by business management to define services (shipment products) which can be offered to customers. They describe a more or less isolated set of activities with a standard cost attached to it. For operations management each module defines a combination of standard operations that needs to be carried out for a customer.
- Note: SPM's can be regarded as the interface between business and operations management.
Standby Letter of Credit As opposed to a commercial letter of credit, a letter of credit that does not cover the direct purchase of merchandise, so called because it is often intended to be drawn on only when the applicant for whom it is issued fails to perform an obligation. There is, nonetheless, a type of standby letter of credit that is intended to be drawn on, referred to as a "direct pay letter of credit." Standby letters of credit are based on the underlying principle of letters of credit that payment is made against presentation of documents¾ whatever documents the applicant, beneficiary, and issuing bank may agree to, not necessarily documents showing shipment of goods.
Starboard The right side of a ship when facing the bow.
State of Origin The state in the territory in which the cargo was first loaded on board of an aircraft (aircargo).
Statute Of Limitation A law limiting the time in which claims or suits may be instituted.
Status Information concerning the state or location of a defined item.
STB Surface Transportation Board, an independent adjudicatory body administratively housed in the Department of Transportation responsible for the economic regulation of interstate surface transportation, primarily railroads
STC Said to contain
STCC Abbreviation for "Standard Transportation Commodity Code."
Steamship Conference A group of vessel operators joined together for the purpose of establishing freight rates.
Steamship Guarantee An indemnity issued to the carrier by a bank; protects the carrier against any possible losses or damages arising from release of the merchandise to the receiving party. This instrument is usually issued when the bill of lading is lost or is not available.
Steering of Containers The function, with the aid of specific software for tracking and forecasting (IRMA, MINKA), to direct empty containers to demanding areas at minimum costs.
Stem - Subject To Enough Merchandise
- Bow of ship
Stern The end of a vessel. Opposite of bow.
Stevedore Individual or firm that employs longshoremen and who contracts to load or unload the ship.
Sticky The ability to retain participants.
Stock The materials in a supply chain or in a segment of a supply chain, expressed in quantities, locations and or values.
Stock Keeping Unit A method of identifying a product without using a full description.
Stockless Purchasing A practice whereby the buyer negotiates a purchase price for annual requirements of MRO items and the seller holds inventory until the buyer orders individual items.
Stock Locater System A system in which all places within a warehouse are named or numbered.
Stockout A situation in which the items a customer orders are currently unavailable.
Stockout Cost The opportunity cost that companies associate with not having supply sufficient to meet demand.
Stock Record A record of the quantity of stock of a single item, often containing a history of recent transactions and information for controlling the replenishment of stock.
Stop Loss (Ins) - Any provision in a policy designed to cut off the insurance company's loss at a given point. Aggregate benefits and maximum benefits are an example;
- A type of reinsurance designed to transfer the loss from the ceding company to the reinsurer at a given point.
Storage The activity of placing goods into a store or the state of being in store (e.g. a warehouse).
Storage Charge Fee for keeping goods in warehouse/terminal after "free time" runs out.
Store-Door Pick-up Delivery A complete package of pick up or delivery services performed by a carrier from origin to final consumption point.
Stores Provisions and supplies on board required for running a vessel.
Stowage A marine term referring to loading freight into ships' holds.
Stowage Factor Ratio of a cargo's cubic measurement to its weight, expressed in cubic feet to the ton or cubic meters to the tonne, used in order to determine the total quantity of cargo which can be loaded in a certain space
Stowage Instructions Imperative details about the way certain cargo is to be stowed, given by the shipper or his agent.
Stowaway An unwanted person who hides on board of a vessel or an aircraft to get free passage, to evade port officials etc.
Straddle Carrier Mobile truck equipment with the capacity for lifting a container within its own framework.
Straddle Crane A crane usually running on rails and spanning an open area such as rail-tracks or roadways.
Straight Bill of Lading A non-negotiable bill of lading which states a specific identity to whom the goods should be delivered. See Bill of Lading.
Straight Truck Vehicle which carries cargo in a body mounted to its chassis, rather than on a trailer towed by the vehicle.
Strand / Stranding A vessel strands when it runs aground.
Strap A band of metal, plastic or other flexible material used to hold cargo or cases together.
Strategic Planning Looking one to five years into the future and designing a logistical system (or systems) to meet the needs of the various businesses in which a company is involved.
Strategic Variables

The variables that effect change in the environment and logistics strategy. The major strategic variables include the economy, population, energy, and government.

Stretch The leg between two points.
Stretch Wrap An elastic, thin plastic material that effectively adheres to itself, thereby containing product on a pallet when wrapped around the items.
Strikes, Riots and Civil Commotion (S.R. & C.C.) Strikes, Riots and Civil Commotion perils excluded in the basic marine cargo policy, but coverable by endorsement such as ICC Strikes Clauses.
Stripping Removing cargo from a container (devanning).
Stuffing Putting cargo into a container.
STW Said to weigh.
STW Search(ing) The Web
SU Shut Up
SUB Subject To
Subrogation (Ins) The legal process by which an insurance company seeks from a third party who may have caused the loss, recovery of the amount paid to the insured.
Subrogation Waiver (Ins) A waiver by the named insured giving up any right of recovery against another party. Normally an insurance policy requires that subrogation (recovery) rights be preserved.
Subrogate To put in place of another; i.e., when an insurance company pays a claim it is placed in the same position as the payee with regard to any rights against others.
Subsidy The economic benefit granted by a government to producers of goods or services often to strengthen their competitive position.
Substretch Part of a stretch. This term is used if it is necessary to distinguish between a stretch and a part thereof.
Sue & Labor Clause (Ins) - A clause within marine and inland marine policies whereby the policyholder, in the event of a loss, is required to take all necessary means to save the property from further loss, and the insurer agrees to pay the costs even if the property becomes a total loss despite the policyholder’s efforts. The insurer may pay a total loss plus the cost of the attempted salvage.
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Expenses incurred by the Assured or their representatives with the intention of preventing or minimizing a loss for which the Underwriter would have been liable. They do not include expenses incurred in general average or salvage acts; these being recoverable under the policy only as part of the Underwriters' liability for contribution to general average or salvage, if any. Sue and labor charges are recoverable under a policy that incorporates a sue and labor clause (SG policy), or in accordance with the wording of the policy (e.g. under the "duty of the Assured" clause attached to a MAR policy).
SUP What's Up?
Supercargo Person employed by a ship owner, shipping company, charterer of a ship or shipper of goods to supervise cargo handling operations. Often called a port captain.
Supplemental Carrier A for-hire air carrier having no time schedule or designated route; the carrier provides service under a charter or contract per plane per trip.
Supply Chain A group of physical entities such as manufacturing plants, distribution centers, conveyances, retail outlets, people and information which are linked together through processes (such as procurement or logistics) in an integrated fashion, to supply goods or services from source through consumption.
Supply Chain Management The integration of the supplier, distributor, and customer logistics requirements into one cohesive process to include demand planning, forecasting, materials requisition, order processing, inventory allocation, order fulfillment, transportation services, receiving, invoicing, and payment.
Surface Transportation Board (STB) The U.S. federal body charged with enforcing acts of the U.S. Congress that affect common carriers in interstate commerce. STB replaced the Interstate Commerce Commission (ICC) in 1997.
Sufferance Wharf A wharf licensed and attended by Customs authorities.
Supplier Financing Arrangement where the seller/supplier of goods allows the buyer an extended period of time after shipment to pay for the goods.
Supply Chain - A logistical management system which integrates the sequence of activities from delivery of raw materials to the manufacturer through to delivery of the finished product to the customer into measurable components. "Just in Time" is a typical value-added example of supply chain management.
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A sequence of events in a goods flow which adds to the value of a specific good. These events may include:
-conversion
-assembling and/or disassembling
-movements and placements
Supply Chain Management An attempt to coordinate processes involved in producing, shipping and distributing products, generally with large suppliers. Net markets can extend supply chain management to all trading partners regardless of size because they provide a central hub to integrate information from buyers and sellers.
Supply Vessel Vessel which carries stock and stores to offshore drilling rigs, platforms.
Surcharge An extra or additional charge.
Surety (Ins) - A term loosely used to describe the business or suretyship or bonds. Suretyship is an arrangement whereby one party becomes answerable to a third party for the acts of neglect of a second party;
- The party in a surety arrangement who holds himself responsible to one person for the acts of another.
Surety Bond (Ins) A bond in which the surety agrees to answer to the obligee for the non-performance of the principal (known as the obligor).
Surtax An additional extra tax.
Survey In cargo insurance, an examination of damaged property to determine the cause, extent and value. In hull insurance, an inspection of the ship to help determine its insurability or, after a loss, the cause and extent of damage.
Surveyor A specialist who conducts surveys of cargo or hulls or cargo losses.
SWAD Salt Water Arrival Draft
Swap Body See "Swop Body"
SWDD Salt Water Departure Draft
Switch Engine A railroad engine that is used to move railcars short distances within a terminal and plant.
Switching Costs Costs incurred in changing suppliers or marketplaces. Net markets often seek to re-architect procurement, search, and other processes so buyers stay put, a key reason switching costs are higher in business-to-business than consumer e-commerce. (See lifetime value of the customer, churn).
SWL See "Safe Working Load"
Swop Body - Separate unit without wheels to carry cargo via road sometimes equipped with legs to be used to carry cargo intermodal within Europe.
- The advantage being that this unit can be left behind to load or discharge whilst the driver with the truck/chassis can change to another unit.
- These units are not used for sea transport
Syndicate(s) In Lloyd's Insurance - a group of individuals or companies who assume risk on behalf of their clients.
Syndicate Policy A policy issued on behalf of a group of companies sharing a risk or class of risks. A syndicate policy carries the names of all the participating companies and usually designates the share of the liability assumed by each company.
Synergy The simultaneous joint action of separate parties which, together, have greater total effect than the sum of their individual effects.
SYS See You Soon
System A set of interacting elements, variable, parts, or objects that are functionally related to each other and form a coherent group.
   
 
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.

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Over 3600 Ocean Marine, Shipping, Chat & Insurance Terms and Abbreviations
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Last Updated:
Monday, 08 June 2009 14:33:49 -0400

 

 

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Ocean Marine Division; Allen Insurance Group
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