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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.
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.
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 ...
For example, passenger ferry of a given size would require substantially more work to build than a bulk carrier of the same size due to the differing design requirements, internal structure, and required level of detail, but simply comparing the gross tonnage or deadweight of each ship would incorrectly show that they took the same amount of ...
The gross tonnage calculation is defined in Regulation 3 of Annex 1 of The International Convention on Tonnage Measurement of Ships, 1969. [3] It is based on two variables, and is ultimately an increasing one-to-one function of ship volume:
Ships built before that date were given 12 years to migrate from their existing tonnage to use of NT and GT. [3] The phase-in period was provided to allow ships time to adjust economically, since tonnage is the basis for satisfying manning regulations and safety rules. [3] Tonnage is also the basis for calculating registration fees and port ...
The first cargo ship passed through a newly opened deep-water channel in Baltimore on Thursday after being stuck in the harbor since the Francis Scott Key Bridge collapsed four weeks ago, halting ...
Dockers loading bagged cargo. FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce.