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Tanker brokers similarly negotiate maritime contracts, known as charter parties. The main terms of negotiation are freight / hire and demurrage . Oil being a fast moving trade, freight rates for crude oil tanker charters are most commonly based on the Worldscale Index ; the Worldscale Association publishes flat rates annually.
Kirby Corporation, headquartered in Houston, Texas is the largest tank barge operator in the United States, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, along all three U.S. Coasts, and in Alaska and Hawaii.
The freight market consists of shipowners, charterers and brokers. They use four types of contractual arrangements: the voyage charter, the contract of affreightment, the time charter and the bareboat charter. Shipowners contract to carry cargo for an agreed price per tonne while the charter market hires out ships for a certain period.
Location; Country: United States: Location: Houston (Texas, USA): Coordinates: 1]: UN/LOCODE: USHOU [2]: Details; Operated by: Port of Houston Authority: Owned by: City of Houston: Type of harbour: Artificial / natural: Number of cargo container terminals: 2: Number of major general cargo terminals: 5: Statistics; Annual cargo tonnage: 212 million (2006) [3]: Annual container volume: 1.6 ...
Their purpose is to use their experience and networks to locate a client's ideal bareboat in terms of price and location. Much like online travel agencies that sell unsold inventory of airline tickets and hotel rooms at a fraction of the price, there are now also last-minute bareboat charter brokers, where travellers can find excellent rates.
In the 1890s the company invested in oil tankers and became a tanker broker. [6] In the 1930s and 1940s, it diversified into aircraft maintenance and manufacturing as well as air transport, establishing Hunting Aircraft in 1944 by the purchase of Percival Aircraft: this business was absorbed into the British Aircraft Corporation in 1960. [7]
The maiden voyage of the new tanker system was made on board the Freddy. This was the prototype for the "parcel tanker", a further development on the idea by Stolt-Nielsen. [2] Stolt-Nielsen leveraged his invention into his work as a ship broker, [3] and in 1959 Stolt-Nielsen officially became a ship owner with his purchase of the Stolt Avance. [4]
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.