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In commercial shipping, laytime is the amount of time allowed, measured in days (or portions thereof), hours, or even tides, within a voyage charter for the loading and unloading of cargo. [ 1 ] [ 2 ]
A voyage charter specifies a period, known as laytime, for loading and unloading the cargo. If laytime is exceeded, the charterer must pay demurrage. If laytime is saved, the charter party may require the shipowner to pay despatch to the charterer. [1] A time charter is the hiring of a vessel for a specific period of time.
Haulers will usually charge an hourly rate for each hour after the allowed time. [6] Demurrage can also refer to the cost levied by shipping lines to cover redecoration of the container after use by the merchant, but it could also be the charges by the shipping line to customers for not returning the container in a reasonable time. [7]
Here's a look at the ins and outs of shipping insurance at all the major mailing services and a few popular private options, plus how much each will cost you. USPS Coverage amount: Up to $5,000
Many shipping services, especially air carriers, use dimensional weight for calculating the price, which takes into account both weight and volume of the cargo. For example, bulk coal long-distance rates in America are approximately 1 cent/ton-mile. [2] So a 100 car train, each carrying 100 tons, over a distance of 1000 miles, would cost $100,000.
Gov. Gavin Newsom is proposing a bill that would require the state Department of Insurance to review rate-hike requests from home insurers within 60 days as companies pull back from the market due ...
Shipping insurance is a service which may reimburse senders whose parcels are lost, stolen, and/or damaged in transit. In Canada and the US , shipping insurance is offered by postal services, courier companies, and shipping-insurance companies.
According to Wednesday's CPI reading, the cost of car insurance is up 22.6% during the past year, the biggest jump by far across the 28 major spending categories Yahoo Finance has been tracking ...
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