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An ocean transportation intermediary (OTI) is a company that is licensed by the Federal Maritime Commission (FMC) to operate in the United States as an ocean freight forwarder, non-vessel operating common carrier , or both. [1]
Freight transport, also referred to as freight forwarding, is the physical process of transporting commodities and merchandise goods and cargo. [1] The term shipping originally referred to transport by sea but in American English , it has been extended to refer to transport by land or air (International English: "carriage") as well.
Maritime transport (or ocean transport) or more generally waterborne transport, is the transport of people or goods via waterways. Freight transport by sea has been widely used throughout recorded history .
The words cargo and freight have become interchangeable in casual usage. Technically, "cargo" refers to the goods carried aboard the ship for hire, while "freight" refers to the act of carrying of such cargo, but the terms have been used interchangeably for centuries. Generally, the modern ocean shipping business is divided into two classes:
Sea transport systems in today's shipping market have evolved into three separate but closely connected segments: bulk shipping, liner shipping and specialized shipping. . Although these segments belong to the same industry, each carries out different tasks and has a very different chara
These include business registration, taxation, permits, legal structure, trade laws, etc. Use the template below to define the legal obligations in your ecommerce business plan.
FCL is intended to designate a container loaded to its allowable maximum weight or volume, but FCL in practice on ocean freight does not always mean a full payload or capacity – many companies will prefer to keep a 'mostly' full container as a single container load to simplify logistics and increase security compared to sharing a container ...
The Ocean Freight Differential (under United States P.L. 480) refers to the difference between the cost of P.L. 480 shipments that are required to be carried on U.S. flag vessels compared to the cost that would have been incurred had they been carried on lower cost foreign bottoms or vessels. The U.S. government pays this difference either by ...