FAK
Abbreviation for "Freight All Kinds." Usually refers to full container loads of mixed shipments.
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FAS
Abbreviation for "Free Alongside Ship."
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FCL
Abbreviation for "Full Container Load."
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Feeder Service
Cargo to/from regional ports are transferred to/from a central hub port for a long-haul ocean voyage.
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Feeder Vessel
A short-sea vessel which transfers cargo between a central "hub" port and smaller "spoke" ports.
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FEU
Abbreviation for "Forty-Foot Equivalent Units." Refers to container size standard of forty feet. Two twenty-foot containers or TEU's equal one FEU.
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Fifth Wheel
The semi-circular steel coupling device mounted on a tractor which engages and locks with a chassis semi-trailer.
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FIO
See Free In and Out.
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Fixed Costs
Costs that do not vary with the level of activity. Some fixed costs continue even if no cargo is carried. Terminal leases, rent and property taxes are fixed costs.
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Flat Rack/Flat Bed Container
A container with no sides and frame members at the front and rear. Container can be loaded from the sides and top.
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FMC (F.M.C.)
Federal Maritime Commission. The U.S. Governmental regulatory body responsible for administering maritime affairs including the tariff system, Freight Forwarder Licensing, enforcing the conditions of the Shipping Act and approving conference or other carrier agreements.
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FOB
See Free On Board. See also Terms of Sale, FOB.
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FOR
Abbreviation for "Free on Rail."
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Force Majeure
The title of a common clause in contracts, exempting the parties for non-fulfillment of their obligations as a result of conditions beyond their control, such as earthquakes, floods or war.
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Fore and Aft
The direction on a vessel parallel to the center line.
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Fork Lift
A machine used to pick up and move goods loaded on pallets or skids.
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Foul Bill of Lading
A receipt for goods issued by a carrier with an indication that the goods were damaged when received. Compare Clean Bill of Lading.
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Four-Way Pallet
A pallet designed so that the forks of a fork lift truck can be inserted from all four sides. See Fork lift.
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Free Alongside (FAS)
The seller must deliver the goods to a port and place them within reach of the ship's loading equipment. See Terms of Sale.
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Free Astray
An astray shipment (a lost shipment that is found) sent to its proper destination without additional charge.
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Free In and Out (FIO)
Cost of loading and unloading a vessel is borne by the charterer/shipper.
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Free on Board (FOB)
Shipped under a rate that includes costs of delivery to and the loading onto a carrier at a specified point.
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Free Out (FO)
Cost of unloading a vessel is borne by the charterer.
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Free Port
A restricted area at a seaport for the handling of duty-exempted import goods. Also called a Foreign Trade Zone.
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Free Time
That amount of time that a carrier's equipment may be used without incurring additional charges. (See Storage, Demurrage or Per Diem.)
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Free Trade Zone
A port designated by the government of a country for duty-free entry of any non-prohibited goods. Merchandise may be stored, displayed, used for manufacturing, etc., within the zone and re-exported without duties.
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Freight
Refers to either the cargo carried or the charges assessed for carriage of the cargo.
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Freight Bill
A document issued by the carrier based on the bill of lading and other information; used to account for a shipment operationally, statistically, and financially. An Invoice.
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Freight Forwarder
A person whose business is to act as an agent on behalf of the shipper. A freight forwarder frequently makes the booking reservation.
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Freighters
See Ships.
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