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Trade Glossary
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Tanker  (shipping) Carries liquid commodities (oil, etc.).

Tanker Tainer  (shipping) Container used to transport liquid commodities.

Tare Weight  (shipping) Weight of an empty container. Gross weight = net weight + tare weight.

Tariff  (shipping) List of rules, regulations and rates applicable to specific trade lanes. Document with regulations and rates applicable to specific trade lanes. A schedule of charges to move commodities between two areas.

TEU  (shipping) Twenty Foot Unit. Twenty Foot Equivalent container.

THC  (shipping) Terminal Handling Charge. Charge assessed by the terminal for the positioning of cargo within the terminal/yard.

Thing in action  (law) A right to use a legal action to recover personal property, money, damages or debts.

Tied loan  (banking) A loan made by a government agency that requires a foreign borrower to spend the proceeds in the lender’s country.

Tiers  (shipping) A horizontal division of a vessel from bottom to top. The numbers run from bottom to deck and from deck upwards and are used as a part of the indication of a stowage place for containers.

Time Draft  (shipping)Method of payment for goods. This allows for deferred payment. The buyer agrees to pay for the freight within a specified time period.

TIR  (shipping) Transport International des Merchandises par la Route; Trailer Interchange Receipt; Terminal Interchange Receipt; Transport Internationale Route; Interchange receipt between trucker and ocean carrier; certificate of container/equipment condition at time of interchange. Document used for the interchange of containers showing condition of container when picked up at the terminal.

Top Handlers  (shipping) Equipment that unloads/loads containers at container yard.

Trade mission  (trade) Composed of individuals who are taken as a group to meet with prospective customers overseas.

Tramp Vessel  (shipping) Non-liner service where owner sends vessel wherever he can arrange business.

Transshipment  Transfer and reloading of freight from one vessel to another (i.e. trailer to container) or from one mode of transportation to another (i.e. truck to steamship) during the course of shipment from origin to destination.

Transloading  (shipping) Taking cargo loaded on one vessel and delivered on another vessel by another line. One carrier utilizing another carrier’s vessel to transport cargo to final destination.

TRC  (shipping) Terminal Receiving Charge. Charge assessed by the terminal for cargo being delivered for export.

Triangular arbitrage  (banking) A forward foreign exchange arrangement which is not used in a standard maturity period. Standard periods are: 1 week, 2 weeks, and 1, 2, 3, 6 and 12 months. Another name for this is broken cross rates.

Tug Boats  (shipping) Boats used to guide vessels in/out port.

Tying arrangement  (law) A condition that a seller imposes on a buyer when the buyer desires to purchase one product. The buyer must also agree to purchase another product, which the buyer may or may not want. The laws of some countries prohibit certain tying arrangements.


This section is given in good faith and for reference only.

 

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