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A liner service is one of the two main classifications of merchant shipping, the other being tramp shipping. [1] The service is expected to be regular, scheduled, repeated and published. [1] From once established the frequency is generally expected to be no more than monthly, the actual frequency depending on the business available. [1]
The international shipping industry can be divided into four closely related shipping markets, each trading in a different commodity: the freight market, the sale and purchase market, the newbuilding market and the demolition market. These four markets are linked by cash flow and push the market traders in the direction they want.
Large-scale shipping lines became widespread in the nineteenth century, after the development of the steamship in 1783. At first, Great Britain was the centre of development; in 1819, the first steamship crossing of the Atlantic Ocean took place and by 1833, shipping lines had begun to operate steamships between Britain and British Empire possessions such as India and Canada. [6]
This is a list of the 30 largest container shipping companies as of February 2024, according to Alphaliner, ranked in order of the twenty-foot equivalent unit (TEU) capacity of their fleet. [1] In January 2022, MSC overtook Maersk for the container line with the largest shipping capacity for the first time since 1996. [ 2 ]
Order to cash (OTC or O2C) normally refers to one of the top-level (context level) business processes for receiving and processing customer orders and revenue recognition. Order to cash is an essential function in finance ; the entire cycle of events happens after a customer places an order until the customer pays for the order; that is, the ...
The standard carrier alpha code "NYKU" on an NYK Line container The Standard Carrier Alpha Code ( SCAC ) is a privately controlled US code used to identify vessel operating common carriers (VOCC). It is typically two to four letters long.
It is common practice to have a protecting agency fee as much as 50% of the full agency fee. [4] The principal may also choose to pay his port disbursement invoices through the protecting agent by placing him in funds and the latter shall release such funds to the shipping agent only after checking for the relevant items correctness.
Ship-to-ship transfer operations take place at open sea or at OPL (outer port limit). The involved parties are the 2 participating vessels and the Service Provider who provides the STS equipment and the qualified Mooring Master (Person in Overall Advisory Control, POAC).