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Glossary: Industry Acronyms and Terms

3PL
Third-party logistics provider


BCO
Beneficial Cargo Owner. A company that owns the freight in a container being imported or exported, e.g., Home Depot, Amazon


Carrier Haulage (CH)
FFU street rate billed to ocean carriers

Container Yard (CY)
An off terminal storage facility for containers often located near the ports


FFU
Free-for-use (daily use model). Chassis are rented day-to-day at a published rate

FMCSA
Federal Motor Carrier Safety Administration – the organization responsible for requiring annual chassis inspections

Full-Service Lease
A Full-Service Lease is a fixed volume/term lease in which the IEP is responsible for most costs related to the chassis


IEP
Intermodal Equipment Provider. A company that makes intermodal equipment available for interchange and develops and implements procedures to repair the equipment from damages, defects, or deficiencies. E.g. DCLI, TRAC Intermodal, Flexi-Van

ILWU
International Longshore and Warehouse Union


MC
Motor Carrier (trucker). A company that employs truck drivers or contracts with owner-operators to move freight. E.g. Central States, B-H Transfer

Merchant Haulage (MH)
FFU street rate billed to motor carriers


Net Lease
A Net Lease is a fixed volume/term lease in which the lessee is responsible for all costs related to the chassis

NVOCC
Non Vessel Operating Common Carrier. Third-party logistics company that organizes shipments for individuals or companies to get goods from the manufacturer or producer to the market, customer, or final point of destination. E.g. Kuehne+Nagle, Expeditors


OC
Ocean Carrier. A company that owns and operates vessels and offers ocean transportation to beneficial cargo owners and NVOCCs e.g. Maersk, COSCO


Pool
Multiple providers contribute their chassis to a pool to share capacity and costs


Radial Tire
A tire in which the fabric cords that make up the foundation of the tire run at right angles to the circumference of the tire

Reefer
Refrigerated container requiring controlled temperature environment for items such as fruits, meats, fish, seafood, dairy, etc.

Repositioning (Repo)
The costs associated with moving a chassis from where it was dropped off to where it is needed


SSL
Steamship Line – see Ocean Carrier (OC)

Stop/Start
A location where a gate transaction creates a record that is used to start or end a billable chassis movement


TOW
Trucker-owned wheels. Chassis equipment owned and/or leased by a Motor Carrier


UPC
Unitary Pool Concept Equipment Provider. A chassis provider is designated as a UPC by an ocean carrier in a pool and receives all revenue associated with that carrier’s moves