Shipping Glossary
| 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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| FCA |
Free Carrier.
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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-hual ocean voyage.
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| Feeder Vessel |
A short-sea vessel which transfers cargo between a central "hub" port
and smaller ports.
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| FEU |
Abbreviation for "Forty-Foot Equivalent Units." Refers to container
size standard of 40 feet. Two 20-foot containers or TEU's equal one
FEU.
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| FEFC |
Far Eastern Freight Conference
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| FIFO |
Free In Free Out. See also FIO.
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| FIO |
Free In Free Out.
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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 |
Federal Maritime Commision. 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 |
Abbreviation for "Free On Board."
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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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| Free Alongside (FAS) |
The seller must deliver the goods to a pier and place them within reach
of the ship's loading equipment.
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| Free Time |
Time allowed for shippers or consignees/receivers to load or unload cargo
before demurrage, detention and other charges accrue.
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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 Forwarder |
A person whose business is to act as an agent on behalf of the shipper.
A freight forwarder frequently makes the booking reservation. In the
United States, freight forwarders are now licensed by the FMC as
"Ocean Intermediaries."
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