CONTAINER GLOSSARY

Ray Nares 12/17/21 Ray Nares 12/17/21

Offhire

Date at which a container is taken off lease. This may, in many cases, be the same as the redelivery date unless the container is returned damaged. If the container is returned damaged, lease contracts may give lessor the option to keep the container on lease until it is repaired. This counts as one day of lease.

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Onhire

Date at which a container leaves the depot and is put on lease. This counts as one day of lease.

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One Trip (One Tripper, One-Trip, 1-T)

Definition: essentially new containers that have only made one ocean crossing

Container Services International 12/16/21 Container Services International 12/16/21

Owner Code

The first three letters associated with the container number that is registered with the BIC.

Container Services International 12/15/21 Container Services International 12/15/21

One Way Lease (OWL)

Short term lease agreement intended to allow for the use of containers for one trip, usually from a single pick-up location to a limited number of redelivery locations.