The system of transporting goods in standardised intermodal containers that can be efficiently transferred between ships, trucks, and rail cars without handling the cargo itself. Containerization revolutionised global trade from the 1960s onward by dramatically reducing cargo handling costs and transit times.
Category: Cargo & Trade
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Charter PartyA contract between a shipowner and a charterer for the hire of a vessel or part of its cargo space for a specified voyage, period of time, or on a bareboat basis.CIFCost, Insurance and Freight, an Incoterm under which the seller delivers the goods on board the vessel and pays the cost of freight and marine insurance to the named destination port.COAContract of Affreightment, a long-term agreement between a shipper and a shipowner to transport a specified quantity of cargo over a given period, with individual shipments made on vessels nominated by the owner.CustomsThe government authority responsible for controlling the import and export of goods at ports, collecting duties and taxes, and enforcing trade regulations.Dead FreightA charge payable by the charterer for the unused cargo space when the agreed quantity of cargo is not provided for loading.Deadweight TonnageThe total weight a vessel can carry, including cargo, fuel, fresh water, ballast water, provisions, passengers, and crew, measured in metric tonnes.
Back to DictionaryEntry updated May 2026