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Glossary

Common carrier

Term of the day

A public or private entity licensed to transport goods or people nationwide for a fee. Common carriers offer their services to the general public, unlike private carriers, which only transport a specific company's goods.

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Available freight tonne kilometer

Available freight tonne kilometer (AFTK) is a metric used to represent the total carrying capacity offered by a freight carrier over a specific distance. It's calculated by multiplying the available...

AVI

Automated Vehicle Identification (AVI) systems use technologies like RFID, GPS, or license plate recognition to identify vehicles. These systems can be set up at various points in a supply chain,...

AWB

An air waybill (AWB) is a vital document in logistics. It serves as a receipt of goods for air freight, issued by airlines or air freight forwarders. It contains essential...

Backhaul (maritime)

Backhaul in maritime shipping refers to the process of transporting cargo or goods on the return voyage of a vessel, typically from a destination back to its original point of...

Backhaul (rail)

Backhaul in rail logistics refers to the return trip made by a freight train after its initial cargo has been delivered to its destination. During this return journey, the train...

Backhaul (trucking)

Backhauling in trucking is a multi-step logistics strategy aimed at maximizing the efficiency of cargo transportation. After a truck delivers its primary load from an originating point to a destination,...

Backwardation

Backwardation is a term used in finance and commodity markets. It describes a situation where the futures price of an asset is lower than its current spot price. This often...

Bad Order

In the supply chain and logistics sector, a ‘bad order’ refers to a shipment that is unable to move forward due to issues like improper loading, mechanical malfunctions, or safety...

Ballast

Ballast refers to material or weight added to a vessel, aircraft, or vehicle to enhance stability, balance, and control. In maritime contexts, ballast is usually water stored in specialized tanks...

Ballast water

A term for seawater that has been taken into the ballast tanks of a ship that isn't carrying enough cargo weight to maintain stability. ...