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6 Terms Everyone in the Shipping Industry Must Know - Storage Container

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All major industries have a jargon, and the shipping industry is no exception. Whether you are new to the industry or have been in it for a long time, it is paramount to know this vocabulary. Otherwise, it will be difficult to get around and thrive in the industry. At Great Lakes Kwik Space, the leading shipping storage containers company in Chicagoland, we have prepared a glossary with some of the most important and most used terms in the shipping industry.

Bill of Lading (BOL, BL): It is an official legal document that details the quantity, the type and the destination of the goods being shipped. It also functions as the contract for cargo between the carrier and the shipper, as well as the receipt of the goods’ delivery at a particular destination.

Carrier: It is the individual or company who transports the goods. It applies for all kinds of shipments: railroad, trucking, steamship lines and airlines.

Container: Also called shipping container, storage container or portable storage container, among others. A container is an ISO standard sized steel box in which the merchandise being shipped is stored. It is also intermodal, meaning that it can travel via sea, land and/or air during the same shipment without having to change to a different container o even without being opened. The most common sizes are 20, 40 and 45ft.

Container number: It is the number used to identify each container. It is composed of 4 letters and 7 digits. The seventh digit is known as the check digit.

Master Bill of Lading (MBL): It is a contract made by the carrier who will transport the goods.

Vessel: It is a craft for traveling on water. It is basically the same as a ship or a boat. Normally, ships that carry containers or container ships are known as vessels.

Although this glossary is only a fragment of the shipping industry’s jargon, it contains some of the most popular terms used in the industry on a regular basis.

We hope this article has been of help to you. And remember, Great Lakes Kwik Space has you covered in any of your shipping storage containers needs. For more information, call us know at 1-800-966-1016.

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