Glossary of terms used |
|
| Dry | Box-shaped metal container for shipping cargo |
| Tank | Cylindrical container for carrying liquids |
| Reefer | Refrigerated container for carrying perishable cargo |
| Teu | Twenty-foot equivalent unit |
| 20' container = 1 teu | |
| 40' container = 2 teu | |
| Shipping | Moving cargo by air, land or sea |
| Shipper | Cargo owner or agent |
| Ocean carrier | Company that carries freight on ships |
| Mega-carrier | Large ocean carrier operating high capacity ships |
Glossary of leasing |
|
| Master lease: | a contract allowing for flexibility in leased volume through on-hiring and off-hiring in depots around the world. Renegotiated annually - usually drys |
| Long term lease: | a long-term fixed contract (1-5 years). |
| On-hire: | leasing a container out of depot. Lease rate begins. |
| Off hire: | returning a container to a depot. Lease rate stops. |
| Depot: | third party owned public container storage and repair facility |
| Lessor: | a company supplying containers for lease, such as Cronos |
| Customer (lessee): | a company that leases containers, such as an ocean carrier or bulk liquid cargo shipper. |