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Shipbroking
Shipbroking is a financial service, which forms part of the global shipping industry. Shipbrokers are specialist intermediaries/negotiators (i.e. brokers) between shipowners and charterers who use ships to transport cargo, or between buyers and sellers of vessels. History In the 19th century, it was the work of ship-brokers to procure goods on freight or a charter for ships outward bound. They also went through the formalities of entering and clearing vessels at the customs-house. They collected the freight on vessels brought into port and took an active hand in the management of all business matters between ship-owners and merchants, whether shippers or consignees, for which they were paid a fee. In major British ports, ship-brokers were also usually insurance-brokers. Modern shipbroking Some brokerage firms have developed into large companies, incorporating departments specialising in shipping's various sectors, ''e.g.'' Dry Cargo Chartering, Tanker Chartering, Container Cha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ernest Simpson
Ernest Aldrich Simpson (6 May 1897 – 30 November 1958) was an American-born British shipbroker, best known as the second husband of Wallis Simpson, later wife of the former King Edward VIII. Simpson served as an officer in the Coldstream Guards before becoming a shipbroker in the family firm of SSY. Background Born in New York City, Simpson was educated at The Hill School before attending Harvard University. Simpson was commissioned in the British Army, serving as a captain in the Coldstream Guards during World War I. His father, Ernest Louis Simpson, a British citizen of Jewish background whose original surname was Solomon, co-founded the global shipbroking firm Simpson, Spence & Young, trading since 1880. His mother, Charlotte Woodward Gaines, was American, daughter of a New York City attorney. His elder sister and only sibling, Maud Simpson (1879–1962), married, in 1905, Major Peter Kerr-Smiley MP. Simpson became a British subject during World War I, shortly a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Service
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual asset managers, and some government-sponsored enterprises. History The term "financial services" became more prevalent in the United States partly as a result of the GrammLeachBliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge. Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S. (e.g. Japan), non-financia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marine Vessel
Any vehicle used in or on water as well as underwater, including boats, ships, hovercraft and submarines, is a watercraft, also known as a water vessel or waterborne vessel. A watercraft usually has a propulsive capability (whether by sail, oar, paddle, or engine) and hence is distinct from a stationary device, such as a pontoon, that merely floats. Types Most watercraft may be described as either a ship or a boat. However, numerous items, including surfboards, underwater robots, seaplanes and torpedoes, may be considered neither ships nor boats. Although ships are typically larger than boats, the distinction between those two categories is not one of size per se. *Ships are typically large ocean-going vessels; whereas boats are smaller, and typically travel most often on inland or coastal waters. *A rule of thumb says "a boat can fit on a ship, but a ship can't fit on a boat", and a ship ''usually'' has sufficient size to carry its own boats, such as lifeboats, dingh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Container Ship
A container ship (also called boxship or spelled containership) is a cargo ship that carries all of its load in truck-size intermodal containers, in a technique called containerization. Container ships are a common means of commercial intermodal freight transport and now carry most seagoing non-bulk cargo. Container ship capacity is measured in twenty-foot equivalent units (TEU). Typical loads are a mix of 20-foot (1-TEU) and 40-foot (2-TEU) ISO-standard containers, with the latter predominant. Today, about 90% of non-bulk cargo worldwide is transported by container ships, and the largest modern container ships can carry up to 24,000 TEU (e.g., '' Ever Ace''). Container ships now rival crude oil tankers and bulk carriers as the largest commercial seaborne vessels. History There are two main types of dry cargo: bulk cargo and break bulk cargo. Bulk cargoes, like grain or coal, are transported unpackaged in the hull of the ship, generally in large volume. Break-bulk ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquefied Natural Gas
Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volume of natural gas in the gaseous state (at standard conditions for temperature and pressure). LNG is odorless, colorless, non-toxic and non-corrosive. Hazards include flammability after vaporization into a gaseous state, freezing and asphyxia. The liquefaction process involves removal of certain components, such as dust, acid gases, helium, water, and heavy hydrocarbons, which could cause difficulty downstream. The natural gas is then condensed into a liquid at close to atmospheric pressure by cooling it to approximately ; maximum transport pressure is set at around ( gauge pressure), which is about one-fourth times atmospheric pressure at sea level. The gas extracted from underground hydrocarbon deposits contains a varying mix of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Index (economics)
In Statistics, Economics and Finance, an index is a statistical measure of change in a representative group of individual data points. These data may be derived from any number of sources, including company performance, prices, productivity, and employment. Economic indices track economic health from different perspectives. Influential global financial indices such as the Global Dow, and the NASDAQ Composite track the performance of selected large and powerful companies in order to evaluate and predict economic trends. The Dow Jones Industrial Average and the S&P 500 primarily track U.S. markets, though some legacy international companies are included. The consumer price index tracks the variation in prices for different consumer goods and services over time in a constant geographical location and is integral to calculations used to adjust salaries, bond interest rates, and tax thresholds for inflation. The GDP Deflator Index, or real GDP, measures the level of prices of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Worldscale
Worldscale is a unified system of establishing payment of freight rate for a given oil tanker's cargo. Worldscale was established in November 1952 by London Tanker Brokers’ Panel on the request of British Petroleum and Shell as an average total cost of shipping oil from one port to another by ship. A large table was created as result. The same scale is used today, although it was merged with the American Tanker Rate Schedule (ATRS) in 1969. By 2002, the table included the average cost of 320,000 voyages of different combinations of one load and one discharge port to five loads and ten discharge ports. Worldscale is produced by Worldscale Association (NYC) Inc. for the Americas and by Worldscale Association (London) Ltd. for the rest of the world. The freight for a given ship and voyage is normally expressed in a percentage of the published rate and is supposed to reflect the freight market demand at the time of fixing. Following are some samples. In negotiating a price to pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demurrage
The term "demurrage" from Old French ''demeurage'', from ''demeurer'' – to linger, tarry – originated in vessel chartering and referred to the period when the charterer remained in possession of the vessel after the period normally allowed to load and unload cargo ( laytime). By extension, demurrage refers to the charges that the charterer pays to the ship owner for its delayed operations of loading/unloading.Maritime Knowhow website: GENCON Clause 7 Officially, demurrage is a form of liquidated damages for breaching the laytime as it is stated in the governing contract (the charter party). The demurrage sometimes causes a loss to the seller as it increases cost of the total freight. The inverse of demurrage is despatc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rental
Renting, also known as hiring or letting, is an agreement where a payment is made for the temporary use of a good, service or property owned by another. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership. An example of renting is equipment rental. Renting can be an example of the sharing economy. History Various types of rent are referenced in Roman law: rent (''canon'') under the long leasehold tenure of Emphyteusis; rent (''reditus'') of a farm; ground-rent (''solarium''); rent of state lands (''vectigal''); and the annual rent (''prensio'') payable for the ''jus superficiarum'' or right to the perpetual enjoyment of anything built on the surface of land. Reasons for renting There are many possible reasons for renting instead of buying, for example: *In many jurisdictions (including India, Spain, Australia, United Kingdom and the United States) rent paid in a trade or business is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freight
Cargo consists of bulk goods conveyed by water, air, or land. In economics, freight is cargo that is transported at a freight rate for commercial gain. ''Cargo'' was originally a shipload but now covers all types of freight, including transport by rail, van, truck, or intermodal container. The term cargo is also used in case of goods in the cold-chain, because the perishable inventory is always in transit towards a final end-use, even when it is held in cold storage or other similar climate-controlled facility. The term freight is commonly used to describe the movements of flows of goods being transported by any mode of transportation. Multi-modal container units, designed as reusable carriers to facilitate unit load handling of the goods contained, are also referred to as cargo, especially by shipping lines and logistics operators. Similarly, aircraft ULD boxes are also documented as cargo, with an associated packing list of the items contained within. When empty co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charter-party
A charterparty (sometimes charter-party) is a maritime contract between a shipowner and a "charterer" for the hire of either a ship for the carriage of passengers or cargo, or a yacht for pleasure purposes. Charter party is a contract of carriage of goods in the case of employment of a (charter boat). It means that the charter party will clearly and unambiguously set out the rights and responsibilities of the ship owner and the charterers and any subsequent dispute between them will be settled in the court of law or any agreed forum with reference to the agreed terms and conditions as embodied in the charter party. The name "charterparty" is an anglicisation of the French ''charte partie'', or "split paper", i.e. a document written in duplicate so that each party retains half. Types of charterparty There are three main types of charterparty: time, voyage and demise and another. * In a demise (or bareboat) charter, the charterer takes responsibility for the crewing and maintena ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tanker (ship)
A tanker (or tank ship or tankship) is a ship designed to transport or store liquids or gases in bulk. Major types of tankship include the oil tanker, the chemical tanker, and gas carrier. Tankers also carry commodities such as vegetable oils, molasses and wine. In the United States Navy and Military Sealift Command, a tanker used to refuel other ships is called an oiler (or replenishment oiler if it can also supply dry stores) but many other navies use the terms tanker and replenishment tanker. Tankers were first developed in the late 19th century as iron and steel hulls and pumping systems were developed. As of 2005, there were just over 4,000 tankers and supertankers or greater operating worldwide. Description Tankers can range in size of capacity from several hundred tons, which includes vessels for servicing small harbours and coastal settlements, to several hundred thousand tons, for long-range haulage. Besides ocean- or seagoing tankers there are also specialized ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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