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May 14, 2019 · From required documents and shipment types to international regulations and customs procedures, different players and aspects of maritime transport have its own acronyms and abbreviations.
A comprehensive classification of abbreviation for shipping and receiving. Click to download shipping terms abbreviations pdf
- 3PL – Third-Party Logistics. Third party logistics companies offer outsourced logistics services, managing various supply chain elements, such as transportation, warehousing, and fulfillment.
- 4PL – Fourth Party Logistics. A higher-level logistics provider that typically oversees the entire supply chain network. A 4PL often acts as a consultant or integrator, coordinating multiple 3PLs and other parties involved in the supply chain.
- FTL – Full Truckload. Refers to shipments that occupy the entire capacity of a truck. FTL shipments are typically more cost-effective for larger volumes or goods that require dedicated transportation without sharing space with other cargo.
- LTL – Less Than Truckload. Describes shipments that don’t require the total capacity of a truck. LTL shipments share space with other goods heading in the same direction, allowing multiple shippers to split the transportation costs.
Oct 2, 2023 · Don't be overwhelmed by the hundreds of international shipping terms. We've published a glossary of more than 250 trade terms used by importers and exporters. Bookmark this page and refer to it when you stumble across a word or acronym that has you stumped.
See our glossary of shipping terms for a glossary of port and shipping terms with an overall international shipping terms glossary.
Apr 22, 2024 · 2. CIF - Cost, Insurance, and Freight. CIF is when the seller covers the cost of goods, insurance, and all transportation and miscellaneous charges up to the port of destination. Risk transfers to the buyer once the goods are loaded on board the ship.
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Nov 9, 2019 · Keeping track of shipping terminology is crucial as these terms play a fundamental role for everyone involved in the shipping process. By understanding important terms, you can avoid misunderstandings and minimise errors in the supply chain.
