What is BAF and CAF in sea freight?
What is BAF and CAF in sea freight?
BAF means Bunker Adjustment Factor and CAF means Currency Adjustment Factor. BAF and CAF are generally used by sea shipping carriers. These are charges which levied along with ocean freight to different locations at different season.
What is BAF calculation?
BAF = (Total Fuel Consumption x Transit Time ) / (Vessel’s Total Capacity) x Utilization Factor.
What is BAF price?
Bunker adjustment factor, bunker surcharge or BAF refers to the floating part of sea freight charges which represents additions due to oil prices. BAF charges used to be determined by Carrier Conferences to be applicable for a certain period on a certain trade route.
What is LSS shipping charges?
Low Sulphur Surcharge is a surcharge levied by the lines to cover the costs associated with using low sulphur fuel in line with the IMO 2020 Sulphur Cap regulation..
What is GRI in shipping?
A general rate increase (GRI) is an adjustment of sea freight rates across all or specific trade routes during a set time frame. GRIs are usually spurred by the supply and demand chain within freight shipping and generally initiated by bigger carriers.
What is BAF and LSS?
BAF = Bunker Adjustment Factor. LSS = Low Sulphur Fuel Surcharge.
What is GRI in shipping terms?
Which subjects are there in BAF?
|FIRST YEAR : Semester 1||FIRST YEAR : Semester 2|
|Cost Accounting-Introduction and Element of Cost-Paper I||Auditing-Introduction and Planning-Paper I|
|Economics-Micro Economics-Paper I||Economics-Micro Economics-Paper I Financial Management-Paper I|
|Commerce-Business Environment-Paper I||Taxation-Indirect Taxes-Paper I|
What does CFS stand for shipping?
Container Freight Station
Container Freight Station (CFS) Defined in 100 Words A container freight station is a distribution facility where import and export shipments are consolidated and de-consolidated. CFS’s are a key component in any supply chain moving interior point intermodal (IPI) freight.
What does PSS mean in shipping terms?
PSS. PEAK SEASON SURCHARGE. It is a fee applied in periods of peak demand. It is levied to all shipments that move in certain trades during the high volume periods. FCL: per-container.
What is GRI surcharge?
The General Rate Increase, or GRI, is the annual announcement by carriers like FedEx and UPS about the average increase in their rates for the coming year. Individual rates for services and surcharges can rise far more than the GRI, however, affecting some shippers more than others.
What does the shipping term “BAF” mean?
Bunker Adjustment Factor (BAF) – an adjustment to shipping companies’ freight rates to take into account fluctuations in the cost of fuel oil (bunkers) for their ships. Currency Adjustment Factor (CAF) is an adjustment to shipping companies’ freight rates to take into account the effect over time of fluctuations in currency exchange rates.
What does BAF stand for?
The shipping term “BAF” means “bunker adjustment factor.”. This is an adjustment to shipping companies’ freight rates to take into account fluctuations in the cost of fuel for their ships or freighters.
What are common shipping terms?
Most Common Freight Shipping Terms. The freight shipping industry is the industry that transports every sort of commodity; cargo, merchandise, equipment and material from one place to another, nationally and internationally. The commodity is commonly referred to as freight, and the modes of transport include trucks, trains, airplanes, and ships.
What is the definition of shipping terms?
shipping terms. Provisions in a contract of sale governing the shipping costs, insurance, mode, packaging requirements, and transfer of liability.