What does Fiost mean in shipping?

Free in, out, stowed and trimmed
FIOST Free in, out, stowed and trimmed. And elaboration of the FIO chartering terms whereby the vessel owner is not responsible for the costs of loading, unloading, stowage, trimming. This is the opposite of gross terms.

What is break bulk process?

Breakbulk ocean shipping is a common method used to successfully transport cargo or goods that cannot fit in standard-size shipping containers or cargo bins. Instead, cargo is transported in bags, boxes, crates, drums, barrels, other handling equipment, or is simply rolled, lifted, or pushed onto a ship or barge.

What are FIOS terms?

FIOS is an abbreviation for Free In, Out and Stowed, which means the rate of freight. FIOS covers only the transportation fee, without the inclusion of loading, unloading and stowing the cargo onboard a vessel.

What is break bulk in logistics?

The term break bulk comes from the older phrase “breaking bulk” which is the extraction of a portion of the cargo on a ship, or the beginning of the unloading process from the ship’s holds. Break bulk was the most common form of cargo for most of history.

What is LIFO in shipping terms?

LIFO (Liner In / Free Out) is FILO in reverse. In the event of LIFO, loading the goods into the ship is included in the freight rate, whereas unloading is not. In this instance, the recipient of the goods at the place of destination must pay for unloading from the ship separately.

What is Shinc in shipping?

SHEX and SHINC. The first means “Sundays and Holidays excepted”. The second means “Sundays and Holidays included” in the laytime allowed to the charterer. This is less advantageous to him than the first. Sundays and Holidays included (SHINC).

What is breaking bulk example?

Break bulk (sometimes called “breakbulk”) is cargo or goods that are too big to fit inside of a container. Examples of break bulk are wood, rolls of steel, and parts of wind turbines. These goods get put on racks or pallets and loaded by cranes.

What break bulk charges?

Break Bulk Fee- The fee charged by a Breakbulk depot for unpackng, sorting and stacking cargo, either air or sea.

What are the shipping terms?

Shipping terms (sometimes referred to as delivery terms or shipping and delivery terms) are contractual provisions that establish the legal and commercial rules for effecting delivery of goods under an agreement.

What is CQD terms in shipping terms?

CQD . : Customary Quick Despatch means unfixed laytime and there would be no Demurrage and Despatch to be incurred.

What is the break of bulk point?

: a station or point at which all or portions of a truckload, boatload, or carload are unloaded and distributed.

What is LIFO example?

Based on the LIFO method, the last inventory in is the first inventory sold. This means the widgets that cost $200 sold first. In total, the cost of the widgets under the LIFO method is $1,200, or five at $200 and two at $100. In contrast, using FIFO, the $100 widgets are sold first, followed by the $200 widgets.

Where does the term break bulk shipping come from?

What is Break Bulk Shipping? The term break bulk comes from the older phrase “breaking bulk” which is the extraction of a portion of the cargo on a ship, or the beginning of the unloading process from the ship’s holds.

How is the loading of break bulk cargo done?

Loading and unloading break bulk cargo can be very labor-intensive. Generally such cargo is brought to the quay next to the ship, and then each individual item is lifted on board separately – oftentimes using heavy-duty cranes from the boat or by the dockside. Once on board, each individual item must be secured and stowed separately as well.

How does freight booked Fio differ from seafreight?

Freight booked FIO includes the seafreight, but no loading/discharging costs, i.e. the charterer pays for cost of loading/discharging cargo. Free In/Out Stowed. As per FIO, but excludes stowage costs. Free In/Out and Trimmed. Charterer pays for cost of loading/discharging cargo, including stowage and trimming.

What’s the difference between break bulk and intermodal?

In modern context, break bulk is meant to encompass cargo that is transported in bags, boxes, crates, drums, or barrels – or items of extreme length or size. To be considered break bulk, these goods must be loaded individually, not in intermodal containers nor in bulk as with liquids or grains.