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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.
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; The first step in calculating NT is to find the value known as K 2, a multiplier based on V c. It is obtained by using the following ...
Gross register tonnage (GRT, grt, g.r.t., gt), or gross registered tonnage, is a ship's total internal volume expressed in "register tons", each of which is equal to 100 cubic feet (2.83 m 3). Replaced by Gross Tonnage (GT), gross register tonnage uses the total permanently enclosed capacity of the vessel as its basis for volume.
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.
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.
Several factors affect the cost to move a bulk cargo by ship. The bulk freight market is very volatile, with the type of cargo, size of the vessel, and the route traveled all affecting the final price. Moving a capesize load of coal from South America to Europe cost anywhere from $15 to $25 per ton in 2005. [53]
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]
Gross tonnage is calculated based on "the moulded volume of all enclosed spaces of the ship" and is used to determine things such as a ship's manning regulations, safety rules, registration fees, and port dues, whereas the older gross register tonnage is a measure of the volume of only certain enclosed spaces.