BACKHAUL - A return trip or a movement in a direction of or for a purpose of secondary importance.
BELLY FREIGHT - Cargo that is transported in the lower freight compartments of passenger aircraft.
BENEFICIARY - The person in whose favor a draft is issued or a letter of credit opened.
BILL OF LADING - The document issued on behalf of the carrier describing the kind and quantity of goods being shipped, the shipper, the consignee, the ports of loading and discharge and the carrying vessel. It serves as a document of title, a contract of carriage, and a receipt for goods.
BONDED WAREHOUSE - A building authorized by Customs authorities for storage of goods on which payment of duties is deferred until the goods are removed.
BREAK BULK - Loose cargo, such as cartons, stowed directly in the ship’s hold as opposed to containerized or bulk cargo. See “Containerization.”
BROKERS - Companies that help both shipper and carrier achieve low freight rates and efficient utilization of carrier equipment.
BULK SHIPMENTS - Shipments which are not packaged, but are loaded directly into the vessel’s holds. Examples of commodities that can be shipped in bulk are ores, coal, scrap, iron, grain, rice, vegetable oil, tallow, fuel oil, fertilizers, and similar commodities.