Page 116 - 2017 Hotel Cost Estimating Guide

Lloyds’ Registry | An organization maintained for Master Lease | Master Lease is one form of a short-
the surveying and classing of ships so that insurance term lease, which refers to the leasing of the containers

underwriters and others may know the quality and condition by carriers from those leasing companies.

of the vessels offered for insurance or employment.
Master Lease Leasing Cost | Master lease leasing

Load Factor | Percent of loaded containers against cost includes container rental, depot lift-on/life-off

total capacity of vessel or allocation.
charge, on/off hire drayage, drop-off charge, off-hire
repair cost, etc. Due to off-hire quota limitation, the

Locking Bar | Device that secures container doors at average on-hire period is around 73 days for 20’GP

top and bottom.
and 40’GP, and 102 days for 40’HQ.

Long Ton | 2,240 pounds.
Mate’s Receipt | A receipt signed by a mate of the

vessel, acknowledging receipt of cargo by the vessel.
Longshoreman | Workers employed in the terminals The individual in possession of the mate’s receipt is

or quays to load and unload ships. They are also entitled to the bill of lading, which in due course is

known as “stevedores.”
issued in exchange for that receipt.

Loose | Without packing.
Maximum Payload | Maximum cargo that can be

loaded into a container either by weight or volume.
Low-Bed | A trailer or semi-trailer with no sides and

with the loor of the unit close to the ground.
Maximum Rate | The highest freight rate permitted

by a regulatory body to apply between points.
Luxury Hotel | A hotel that offers the highest level

of service, facilities, guest amenities, and design and Measurement Ton | One cubic meter. One of the

often includes special features for guests such as a alternative bases of Freight Tariff.
spa, tennis courts, or golf course.

Microbridge | A land bridge movement in which
M
cargo originating from/destined to an inland point is
railed or trucked to/from the water port for a shipment

to/from a foreign country. The carrier is responsible

Manifest | A document that lists in detail all the bills of for cargo and costs from origin to destination. Also
lading issued by a vessel or its agent or master, i.e. a known as I.P.I. or Through Service.

detailed summary of the total cargo or containers loaded

in a vessel. Used principally for customs purposes, it is Mini-Bridge | Cargo moving from/to an inland
also called a Bill of Lading.
destination on one bill of lading from/to a foreign port

through two U.S. ports.

Maquiladoras | Duty-free (for U.S. import)
manufacturing plants located in Mexico.
Mini Landbridge (MLB) | An intermodal system for

transporting containers from/to a foreign country by

Marine Insurance | Broadly, insurance covering loss water to/from a U.S. ocean port other than the arrival
or damage of goods at sea. Marine insurance typically port, by rail, at through rates and documents.

compensates the owner of merchandise for losses

sustained from ire, shipwreck, piracy, and various Minimum Charge | The lowest charge that can be
other causes but excludes losses that can be legally assessed to transport a shipment.

recovered.

MT (M/T) | (a) Metric Ton or Cubic Meter; (b) Empty
Marks and Numbers | Markings placed on packages container; (c) Multimodal Transport

for export for identiication purposes, generally a
N
triangle, square, circle, diamond, or cross with letters
and/or numbers and port discharge. They are of

important use before containerization.

Negotiable Bill of Lading | Original bill of lading
Master Bill of Lading (MB/L) | See “Ocean Bill of endorsed by shipper that is used for negotiating with

Lading.”
banks.

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JN+A and HVS DESIGN | HOTEL COST ESTIMATING GUIDE 2017