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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.
George Moorsom ordered the entire fleet of British merchant ships to be measured according to the new System and then divided the total gross tonnage by the total registered tonnage. The result was 98.22 cubic feet (2.781 m 3 ) per gross ton, which was rounded to 100 cu ft (2.8 m 3 ) per ton.
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.
In some cases, a charterer may own cargo and employ a shipbroker to find a ship to deliver the cargo for a certain price, the freight rate. Freight rates may be on a per-ton basis over a certain route (e.g. for iron ore between Brazil and China), in Worldscale points (in case of oil tankers). Alternatively may be expressed in terms of a total ...
The cost basis of an asset is important to you for two primary reasons – tax planning and investment planning. These two reasons are related because only with the proper investment planning can ...
The supply of cargo ships is generally both tight and inelastic; it takes two years to build a new ship, and the cost of laying up a ship is too high to take out of trade for short intervals, [4] the way you might park a car safely over the winter. So, marginal increases in demand can push the index higher quickly, and marginal demand decreases ...
The total cost of this purchase is $1,000 (50 shares x $20). This becomes your cost basis. A few years later, you decide to sell all 50 shares when the price has risen to $30 per share.
According to the 2005 CIA World Factbook, the total number of merchant ships of at least 1,000 gross register tons in the world was 30,936. In 2010, it was 38,988, an increase of 26%, across many countries. [3] As of December 2018, a quarter of all merchant mariners were born in the Philippines. [4]