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Welcome to the Braemar Shipping Services Glossary. This contains terminology used in the shipping industry.

TEU

Twenty Foot Equivalent Units, being the measurement of the container capacity of a vessel in terms of standard ISO Container size of 20' x 8' x 8'6".

Time charter (t/c)

An arrangement whereby a shipowner places a crewed ship at a charterer’s disposal for a certain period. Freight is customarily paid periodically in advance. The charterer also pays for bunker, port and canal charges.

Time Charter Equivalent (TCE)

Gross freight income less voyage costs (bunker, port and canal charges), usually expressed in US$ per day.

Ton/Tonne

Imperial/Metric ton of 2,240 lbs/1,000 kilos (2,204 lbs).

To search the glossary please click A-Z to browse by initial, or click 'ALL'. Initials that have no glossary entries are greyed out.

AMEG: Middle East Gulf
USAC: US Atlantic Coast
USG: US Gulf
WAF: West Africa
TCE: Time Charter Equivalent
WS: Worldscale
TEU: Twenty Foot Equivalent Units