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Shipping Glossary

Shipping Glossary

Conference

An association of shipping owners/companies operating in the same trade route and under collective conditions, in agreement with all tariff rates

Conference Rate

Sea freight rate which is fixed by a Conference and is binding for all member shipping companies

Confirmed Letter of Credit

A letter of credit issued by a foreign bank whose validity has been confirmed by a domestic bank. An exporter with a confirmed letter of credit is assured of payment even if the foreign buyer or foreign bank defaults

Congestion Surcharge

Surcharge on the freight rate added by shipowners if a seaport is jammed due to overload from which longer waiting periods for seagoing vessels result

Connecting Carrier

A carrier which has a direct physical connection with, or forms a link between two or more carriers

Consecutive Voyage

Special form of tramp shipping. A contract regarding a large volume of cargo is concluded stipulating that the cargo must be shipped on consecutive voyages

Consignee

A person or company to whom commodities are shipped

Consignee mark

A symbol placed on packages for identification purposes, generally a triangle, square, circle etc., with letters and/or numbers and port discharge

Consignor

A person or company shown on the bill of lading as the shipper

CONSIS

Container strategic information system

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