What does shipped on board mean on a bill of lading?

Bill of lading is a traditional transport document, which has been issued by the carriers for sea shipments that has been taken place between one sea port to another.

Historically, there are two main types of bills of lading available on the market in terms of scope of issuance.
  • Received for shipment bills of lading 
  • Shipped on board bills of lading
Today I would like to explain the meaning and function of an on board bill of lading and received for shipment bill of lading.