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Shipbroking Companies
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] |
Financial Service
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns financial management and consumer finance. The finance industry in its most common sense concerns commercial banks that provide market liquidity, derivative (finance), risk instruments, and broker, brokerage for large public company, public companies and multinational corporations at a macroeconomics, macroeconomic scale that impacts domestic politics and foreign relations. The extragovernmental power and scale of the finance industry remains an ongoing controversy in many industrialized Western economies, as seen in the American Occupy Wall Street civil protest movement of 2011. Styles of financial institution include credit union, bank, savings and loan association, trust company, building society, brokerage firm, payment processor, many ty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marine Vessel
A watercraft or waterborne vessel is any vehicle designed for travel across or through water bodies, such as a boat, ship, hovercraft, submersible or submarine. Types Historically, watercraft have been divided into two main categories. *Rafts, which gain their buoyancy from the fastening together of components that are each buoyant in their own right. Generally, a raft is a "flow through" structure, whose users would have difficulty keeping dry as it passes through waves. Consequently, apart from short journeys (such as a river crossing), their use is confined to warmer regions (roughly 40° N to 40° S). Outside this area, use of rafts at sea is impracticable due to the risks of exposure to the crew. *Boats and ships, which float by having the submergeable part of their structure exclude water with a waterproof surface, so creating a space that contains air, as well as cargo, passengers, crew, etc. In total, this structure weighs less than the water that would occupy the sa ... [...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, the largest of which, from 2023 onward, can carry over 24,000 TEU. 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 cargoes, in contrast, are transported in packages, and are generally manufactured goods. Before the advent of containerization in the ... [...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 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 temperature and pressure. LNG is odorless, Transparency and translucency, colorless, toxicity, non-toxic and Corrosive substance, non-corrosive. Hazards include flammability after vaporization into a gaseous state, freezing and asphyxia. The Liquefaction of gases, 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 condensation, 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 0.25 times atmospheric pressure at sea level. The gas extracted ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Index (economics)
In economics, statistics, and finance, an index is a number that measures how a group of related data points—like prices, company performance, productivity, or employment—changes over time to track different aspects of economic health from various sources. Consumer-focused indices include the Consumer Price Index (CPI), which shows how retail prices for goods and services shift in a fixed area, aiding adjustments to salaries, Bond (finance), bond interest rates, and tax thresholds for inflation. The cost-of-living index (COLI) compares living expenses over time or across places.Turvey, Ralph. (2004) Consumer Price Index Manual: Theory And Practice.' Page 11. Publisher: International Labour Organization. . ''The Economist''’s Big Mac Index uses a Big Mac’s cost to explore currency values and purchasing power. Market performance indices track trends like company value or employment. Stock market index, Stock market indices include the Dow Jones Industrial Average and S&P 500, ... [...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 pay, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demurrage
"Demurrage" in vessel chartering is the amount of liquidated damages owed by a charterer to a shipowner when the charterer remained in possession of the vessel for the purpose of loading and unloading ( laytime) beyond the time allowed by contract. That is, demurrage describes the charges that the charterer pays to the ship owner for its delayed operations of loading or 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 charterparty). The demurrage sometimes causes a loss to the seller as it increases cost of the total freight. The inverse of demurrage is despatch. If the charterer requires the ... [...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 use of a good, service or property owned by another over a fixed period of time. To maintain such an agreement, a rental agreement (or lease) is signed to establish the roles and expectations of both the tenant and landlord. There are many different types of leases. The type and terms of a lease are decided by the landlord and agreed upon by the renting tenant. 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freight
In transportation, cargo refers to goods transported by land, water or air, while freight refers to its conveyance. In economics, freight refers to goods transported at a freight rate for commercial gain. 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 facilities, including warehouses. 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. When empty containers are shipped each unit is documented as a cargo and when goods are stored within, the contents are termed containerized cargo. Similarly, aircraft ULD boxes are also documented as cargo, with an associated packing list of the items contained within. Description Marine Seaport terminals handle a wide ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charter-party
A charterparty (sometimes charter-party) is a maritime contract between a shipowner and a hirer ("charterer") for the hire of either a ship for the carriage of passengers or cargo, or a yacht for leisure. Charterparty is a contract of carriage of cargo in the case of employment of a charter boat. It means that the charterparty 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 charterparty. 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 maintenan ... [...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 liquids, bulk. Major types of tanker ship include the oil tanker (or petroleum tanker), the chemical tanker, Cargo ship, cargo ships, and a 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 (ship), 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 tonnage, tons, which includes vessels for servicing small harbours and coastal settlements, to several hundred thousand tons, f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Handysize
Handysize is a naval architecture term for smaller bulk carriers or oil tanker with deadweight of up to 50,000 tonnes, although there is no official definition in terms of exact tonnages. Handysize is also sometimes used to refer to the span of up to 60,000 tons, with the vessels above 35,000 tonnes referred to as Handymax or Supramax. Their small size allows Handysize vessels to enter smaller ports to pick up cargoes, and because in most cases they are 'geared' - i.e. fitted with cranes - they can often load and discharge cargoes at ports which lack cranes or other cargo handling systems. Compared to larger bulk carriers, handysizes carry a wider variety of cargo types. These include steel products, grain, metal ores, phosphate, cement, logs, woodchips and other types of so-called 'break bulk cargo'. They are numerically the most common size of bulk carrier, with nearly 2000 units in service totalling about 43 million tons. Handysize bulkers are built mainly by shipyards i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
