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Shipping Glossary
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Shipping Glossary
UNCTAD CodeCode of Conduct for Liner Conferences established by the UN (UNCTAD) which can be seen as the basis for the recognition of the Liner Conferences and their stabilising role in world trade. The UNCTAD Code only refers to the transport of general cargo and mainly lays down the so-called 40:40:20 rule according to which 40 percent of the maritime trade between two states shall be handled by the national fleets and the remaining 20 percent by cross traders |
UndercarrierPool member which transports a lower volume of cargo during a certain period of time than permitted according to its share in the pool. He receives a compensation payment from the overcarrier |
UnderproviderPool member which during a certain period of time transported less cargo than required accoring to the cargo share |
Underwriter Unit LoadInsurer Loading unit consisting of one or several freight units |
Uniform Customs and Practices for Documentary Credits (UPC)Rules for letters of Credit drawn up by the Commission on Banking Technique and Practices of the International Chamber of Commerce in consultation with the banking associations of many countries |
Unique B/LUS Customs!/ standardization consisting of a four-alpha-code unique to each carrier( e.g. ACL!/s B/L identifier is ACLU) placed in front of nine-digit B/L number. These prefixes are also used as the container identification |
Unit LoadPackages loaded on a pallet, in a crate or any pother way that enables them to be handled at one time as a unit |
Unit TrainA train of a specified number of railcars, perhaps 100, which remain as a unit for a designated destination or until a change in routing is made |
UNITISATIONCombination of different or identical units to form one shipping unit for the purpose of easier handling, e.g. palletisation or containerisation |
UnitizationThe consolidation of a quantity of individual items into one large shipping unit for easier handling. Loading one or more large items of cargo onto a single piece of equipment, such as a pallet |
