Shipowner (Armatör): The owner of the ship, the carrier.

Agent (Acente): An organization that acts on behalf of the shipowner and represents them at any port.

NVOCC (Non-Vessel Operating Common Carrier): A carrier that operates without owning a vessel.

Co-Loader: A company that consolidates the freight of forwarders with its own cargo for transportation.

Forwarder (Forwarder): An organizer company that operates road, air, sea, and rail transportation, customs clearance, and insurance services, with an active agency network.

Bill of Lading (B/L): The sea waybill.

Master B/L: The main bill of lading.

House B/L: The sub bill of lading.

Charter Shipping: Shipping done by fully or partially (part cargo) chartering the ship.

Charter Party: The contract between the carrier and the shipowner for charter shipping.

Bulk Loading: Bulk cargo loading in conventional cargo transportation.

Broker: A commission agent who acts as an intermediary between the shipowner and the shipper.

RO-RO Shipping: Shipping with vessels carrying vehicles, trailers, or containers.

Loading and Unloading Terms

Free In (FI): The cost of loading at the port.

Free Out (FO): The cost of unloading at the port.

Liner In (LI): The loading cost borne by the shipowner.

Stuffing: The process of loading cargo into a container.

Unstuffing: The process of unloading a container.

Stevedoring: The service of loading and unloading cargo from a ship.

Port Terms

Storage: Storage in the port / warehouse.

Demurrage: The penalty applied when the ship exceeds the allocated loading and unloading time or when cargo waiting in a container is not cleared from customs and unloaded within the allowed time.

Free Time: The free period during which cargo can be stored without incurring demurrage. Demurrage is applied if the period is exceeded.

THC (Terminal Handling Fee): The handling fee at the port.

Temporary Acceptance: The customs expense incurred when a container is removed from the bonded area or brought back to the port, due to the customs regulations in Turkey that deem containers as subject to customs.

Freight-Related Terms

CAF (Currency Adjustment Factor): The inclusion of fluctuations in the value of the US dollar into the freight charges.

BAF (Bunker Adjustment Factor): The inclusion of fluctuations in fuel oil prices for overseas shipments into the freight charges.

Premium: An additional fee typically added to export freight charges from Turkey to reduce the shipowner’s risk.

War Risk Surcharge (WRS): An additional charge applied to freight for voyages to ports in war-risk areas.

High Cube Surcharge: An additional charge for High Cube containers.

IMCO Charge: An additional charge requested by the shipowner for transporting hazardous materials.