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The Moorsom System is a method created in the United Kingdom of calculating the tonnage or cargo capacity of sailing ships as a basis for assessing harbour and other vessel fees. It was put into use starting in 1849 and became British law in 1854.
The buyer pays for all costs beyond that point, including unloading. Responsibility for the goods is with the seller until the goods are loaded on board the ship. Once the cargo is on board, the buyer assumes the risk. Ship loading at a wharf. The use of "FOB" originated in the days of sailing ships.
The Net tonnage calculation is defined in Regulation 4 of Annex 1 of The International Convention on Tonnage Measurement of Ships, 1969. It is based on three main variables: V c, the total volume of the ship's cargo spaces in cubic meters (m³), d, the ship's moulded draft amidships in meters, and; D, the ship's moulded depth amidships in metres
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.
For example, a box of clothing shipped internationally which weighs 10 pounds and measures 18 × 18 × 18 inches would be charged as if it weighed 36 pounds: (18 x 18 x 18)/166 = 35.1 pounds which is then rounded up to 36 pounds for shipping cost purposes. The 35.1 pounds is the 'theoretical" weight of the package if it had a density of 166 in ...
Futures contracts and cost basis. Calculating the cost basis for futures contracts involves assessing the difference between a commodity’s local spot price and its associated futures price. For ...
Container ships are cargo ships that carry their entire load in truck-sized containers, in a technique called containerization. They form a common means of commercial intermodal freight transport . Informally known as "box boats," they carry the majority of the world's dry cargo.
The law of carriage of goods by sea is a body of law that governs the rights and duties of shippers, carriers and consignees of marine cargo. [1]Primarily concerned with cargo claims, this body of law combines the international commercial law, the law of the sea and admiralty laws.