Acronyms




b

B/B

(See Break-Bulk Cargo)

B/D

Banker's Draft

B/E

Bill of Exchange

B/S

Bill of Sale

BAA

British Airports Authority

BACA

Baltic Air Charter Association

BACS

Banker's Automated Clearingwee System

BAF

Bunker adjustment factor: A fuel surcharge expressed as a percentage added or subtracted from the freight rate reflecting the movement in the market price for bunkers.

Balance of Trade

The difference bet n a country's total imports and exports; if exports exceed imports, favorable balance of trade exists, if not, a trade deficit is said to exist. Ballast: Heavy weight, often sea water, necessary for the stability and safety of a ship at sea.

Barter

Trade in which merchandise is exchanged directly for other merchandise without use of money. Barter is an important means of trade with countries using currency that is not readily convertible.

BCN

Banker's Cover Note

BEA

British Exporters Association

Beam

The maximum breadth of a ship

Belly Cargo

Freight accommodation below the main deck.

Beneficiary

A firm or person on whom a letter of credit has been drawn. The beneficiary is usually the seller or exporter.

Bermuda Agreement

An agreement concluded in 1946 between the U.K. and the U.S., designed to regulate future international air traffic. Most governments accept its principles and follow it inter alia by limiting traffic rights on international routes to one or two carriers.

Berth

Place alongside a quay where a ship loads or discharges cargo.

Berth

Is the place beside a pier, quay or wharf where a vessel can be loaded or discharged.

Berth Liner Service

Is a regular scheduled steamship line with regular published schedules port of call ) from and to defined trade areas.

Berth or Liner Terms

Is an expression covering assessment of ocean freight rates generally implying that loading and discharging expenses will be for ship owner's account, and usually apply from the end of ship's tackle in port of loading to the end of ship's tackle in port of discharge.

BIFA

British International Freight Association

Bill of Entry

A shipper's detailed statement for Customs purposes of the nature and value of goods in a consignment.

Bill of Exchange (B/E)

Legally defined as "an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person, or to bearer". It is the most general method of obtaining payment for goods shipped abroad.

Bill of Lading

A document that establishes the terms of a contract between a shipper and a transportation company under which freight is to be moved between specified points for a specified charge. Usually prepared by the shipper on forms issued by the carrier, it serves as a document of title, contract of carriage, and a receipt for goods. Also see Air Waybill and Ocean Bill of Lading.

Bolster

This is a piece of equipment equivalent to the bottom of a container without sides. Often used for stacking parcels of sawn timber and bags of cocoa. Otherwise known as a flat or pontoon

Bonded Warehouse

A warehouse storage area or manufacturing facility in which imported goods may be stored or processed without payment of customs duties.

BOTB

British Overseas Trade Board

Bottle screws, container shoes, twist locks, chains and chain tensioners

All pieces of lashing equipment for securing cargo (twist locks and container shoes are used only on containers, pontoons and stackmasters).

Boules

A boule is a log that has been sliced through into at least 12 pieces. The bark is left intact.

Breakbulk

Another term for general cargo, i.e. non unitised cargoes.

Brussels Tariff Nomenclature Number (BTN)

The customs tariff number used by most European nations. The United States does not use the BTN, but a similar system known as the Harmonize Tariff Schedule.

BSC

British Shippers Council

BSI

British Standards Institution

BSS

British Standard Specification

Bunkers

Name given for vessel’s fuel and diesel oil supplies (originates from coal bunkers).

BV

Bureau Veritas

NEWS
air cargo china cancelled the global covid-19 pandemic is growing in scale and is exceeding all ex-pectations. in consultation with partners and associations of the air freight industry messe münchen feels compelled to cancel air cargo china, which was scheduled for june 16–18 in shanghai. lufthansa hopes to keep cargo flying lufthansa cargo is making every effort to maintain the flight operations of its cargo aircraft in the current corona crisis. turkish cargo puts cargo in the passenger cabin turkish cargo will utilise their network and fly their turkish airlines passenger aircraft for airfreight as repercussions from the coronavirus outbreak and travel bans send global supply chains into disarray. latam cargo mitigates supply chain difficulties through freighters latam cargo has sought to mitigate the current difficulties through its 11 b767-300 freighter aircraft, which make latam cargo group the cargo airline with the most freighters operating in latin america. swiss worldcargo to commence freight-only flights swiss worldcargo has announced that this week will see the commencement of cargo-only flights on some aircraft. heathrow calls on supply chain to maximise capacity heathrow will be stepping up its cargo capabilities as it calls on more airlines and freight companies to maximise the use of the hub airport’s quieter schedule so that the aviation industry can play its part in the economic and social fight against covid-19. turkish cargo connects linz with direct freighter service turkish cargo is continuing to increase its network announcing new direct freighter flights to linz (austria). caribbean airlines cargo suspends two freighter services caribbean airlines has temporarily suspended its tuesday and thursday freighter flights etihad announces new freighter schedule etihad cargo has announced its freighter schedule for the iata summer season, boosting capacity to its top freighter gateways. atlas air’s flynn on track for a new career former atlas air president and ceo william j flynn has been appointed as us passenger train operator amtrak’s next chief executive officer and president. swiss worldcargo extends china suspensions in light of the current coronavirus situation, swiss and swiss worldcargo have made further adjustments on flights between zurich and beijing, shanghai and hong kong. fraport announces cost-reduction measures in response to coronavirus frankfurt airport operator fraport has announced new cost-reduction measures in response to the impact of the coronavirus. silkway keeps flying the current corona epidemic is having a significant impact on the air cargo industry. the aviation industry has taken the hit of coronavirus “airlines, aviation financing and plane makers – inherently vulnerable to the economic side-effects of a potential pandemic – faced challenges as the year began, ensuring they are now at growing risk of severe coronavirus-related disruption,” says scope, specialist financial analysts. covid-19: the disruption continues for supply chains richard wilding obe, professor of supply chain strategy at the uk’s cranfield university, comments on the latest challenges covid-19 presents the supply chain. he points out that consumer demand for face masks is impacting on wider industry needs. cargolux and atlas air predict a subdued airfreight market in 2020 the cargo freight market is likely to remain weak this year, industry leaders believe, as it remains hampered by overcapacity and weak growth in several regions around the world. finnair cancels mainland china flights until the end of winter finnair will cancel its flights to beijing capital airport and to shanghai during march 1-28, 2020 (until the end of the winter season), as the coronavirus situation has led to a temporary decline in air travel between china and europe. airbridgecargo offers charter flights to meet coronavirus-related demand the volga-dnepr group has been operating as many as five “sterilised” charter flights into china each day to cater for coronavirus related demand. valentines boost for latam cargo more than 210 latam cargo boeing 767-300 freighters took off from colombia and ecuador, carrying 12,600 tons of flowers for the 2020 valentine’s day season maersk line partnering with portrix maersk line is partnering with portrix logistic software gmbh (pls) to integrate spot pricing into pls’ market leading global price management (gpm) software solution.