Glossary
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B
| B/L | Abbreviation for "Bill of Lading." |
|---|---|
| BAF | Abbreviation for "Bunker Adjustment Factor." Used to compensate steamship lines for fluctuating fuel costs. Sometimes called "Fuel Adjustment Factor" or FAF. |
| Bank Gaurantee | Guarantee issued by a bank to a carrier to be used in lieu of lost or misplaced original negotiable bill of lading. |
| Barge | Conveyance used to carry loose cargo or containers in small volumes. |
| Berth | Vessel docking area. |
| Beam | The width of a ship. |
| Bill of Lading (B/L) | The document that establishes the terms of a contract between a shipper and a tranportation company. It serves as a document of title, a contract of carriage and a receipt for goods. |
| BIMCO | The Baltic and International Maritime Council, the world's largest private shipping organization. |
| Bonded Freight | Freight moving under a bond to Customs to be delivered only under stated conditions. |
| Bonded Warehouse | A warehouse authorized by Customs authorities for storage of goods on which payment of duties is deferred until the goods are removed. |
| Bow | The front of a vessel. |
| Break Bulk |
- Loose, non-containerized mark and count cargo.
- Packaged cargo that is not containerized. |
| Bunker Surcharge | An extra charge sometimes added to steamship freight rates; justified by higher fuel costs. Also known as Fuel Adjustment Factor or FAF. |
| Bunkers | A maritime term referring to fuel used aboard the ship. In the past, fuel coal stowage areas aboard a vessel were in bins or bunkers. |
| Bureau Veritas | A French classification society which certifies seagoing vessels for compliance to standardized rules regarding construction and maintenance. |