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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.
Freight rate. A freight rate (historically and in ship chartering simply freight [1]) is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport ( truck, ship, train, aircraft ), the weight of the cargo, and the distance to the delivery destination.
ISO 6346 is an international standard covering the coding, identification and marking of intermodal (shipping) containers used within containerized intermodal freight transport by the International Organization for Standardization (ISO). [1]
Amazon is raising its free shipping threshold for some customers. To qualify for free shipping, non-Prime members typically have to purchase an order totaling at least $25.
Free shipping is a marketing tactic used primarily by online vendors and mail-order catalogs as a sales strategy to attract customers.
Free Shipping Day is a one-day event held annually in mid-December. On the promotional holiday, consumers can shop from both large and small online merchants that offer free shipping with guaranteed delivery by Christmas Eve.
The law of general average is a principle of maritime law whereby all stakeholders in a sea venture proportionately share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole in an emergency. For instance, should the crew jettison some cargo overboard to lighten the ship in a storm, the loss would be ...
Incoterms inform sales contracts defining respective obligations, costs, and risks involved in the delivery of goods from the seller to the buyer, but they do not themselves conclude a contract, determine the price payable, currency or credit terms, govern contract law or define where title to goods transfers.
A forward freight agreement (FFA) is a financial forward contract that allows ship owners, charterers and speculators to hedge against the volatility of freight rates. It gives the contract owner the right to buy and sell the price of freight for future dates.
Accurate and timely estimations of times of arrival are important in several application areas: In air traffic control arrival sequencing and scheduling, where scheduling aircraft arrival according to the first-come-first-served order of ETA at the runway minimizes delays. [4] [5] In airport gate assignment methods, to optimize gate utilization.