What does LSS mean in shipping?

What does LSS mean in shipping?

Low Sulfur Surcharge
LSS is the abbreviation of the first letters of the English term Low Sulfur Surcharge, which means an additive for low-sulfur fuel. Behind the same concept are LSF (Low Sulfur Fuel Surcharge) and other shortcuts given by different shipping lines.

What is LSS shipping charges?

CMA CGM has introduced a Low Sulphur Surcharge (LSS20) effective December 1st, 2019 to cover the increase in fuel-related costs associated with the implementation of the IMO 2020 regulation.

Who should pay LSS charges?

Therefore, when LSS is a surcharge collected by the shipping companies along with the freight, it falls upon the buyer to bear the cost under FOB terms.

What is emergency cost recovery surcharge?

EBS generally refers to a surcharge temporarily imposed by a shipping company in order to make up for the rapidly rising cost when the international crude oil price rises rapidly and the shipping company feels that it is beyond its bearing capacity.

What are CFS charges?

CFS charges refer to the fees that apply for each activity performed at a CFS, namely the import and export of goods through customs. These are the charges that are involved when your containerized goods are packed onto the ship.

Why is it better to use low sulfur fuels?

Reducing the sulphur content in vehicle fuels has many positive impacts on ambient air quality. Low sulphur fuels reduce tailpipe CO, HC, and NOx emissions from catalyst-equipped gasoline vehicles and PM emissions from diesel vehicles even without oxidation catalysts.

What is BAF in shipping?

BAF is the abbreviation for Bunker Adjustment Factor. The term “Bunker” refers to the Fuel that is used to operate ships. As fuel prices are pretty volatile, the shipping lines charge a fee called “Bunker Adjustment Factor (BAF)” to cover the fluctuations in global bunker costs.

What is BAF in freight?

Bunker Adjustment Factor (BAF) is a floating freight charge or an additional charge which is levied to account for the fluctuation (increase) in the price of the ship’s fuel. It is also known as ‘Fuel Adjustment Factor.

What does CFS stand for shipping?

Container Freight Station
Container Freight Station (CFS) Defined in 100 Words A container freight station is a distribution facility where import and export shipments are consolidated and de-consolidated.

What is GRI in shipping terms?

A general rate increase (GRI) is an adjustment of sea freight rates across all or specific trade routes during a set time frame. GRIs are usually spurred by the supply and demand chain within freight shipping and generally initiated by bigger carriers.

How does CFS work in shipping?

A container freight station is a distribution facility where import and export shipments are consolidated and de-consolidated. CFS’s are a key component in any supply chain moving interior point intermodal (IPI) freight.

What CFS is for in shipping?

CFS (Container Freight Station) refers to a warehouse where goods belonging to various exporters or importers are consolidated (grouped) or deconsolidated (degrouped) before being exported or after being imported.