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The policy should be in the same currency as the contract. The seller must also turn over documents necessary, to obtain the goods from the carrier or to assert claim against an insurer to the buyer. The documents include (as a minimum) the invoice, the insurance policy, and the bill of lading. These three documents represent the cost ...
The sale and purchase of ship is an important aspect of the shipping industry. It may involve large amounts of money and requires brokers to possess knowledge of types of vessels and their function, knowledge of maritime law, as well experience in bargaining. To reduce the number of disputes and smoothen the sale and purchase procedure ...
Ship-to-ship cargo transfer. ship-to-ship (STS) transfer operation is the transfer of cargo between seagoing ships positioned alongside each other, either while stationary or underway. Cargoes typically transferred via STS methods include crude oil, liquefied gas ( LPG or LNG ), bulk cargo, and petroleum products.
The purpose of the ISM Code. To ensure safety at sea and prevent damage to property, personnel and environment. In order to comply with the ISM Code, the Company operating the vessel has to be audited first (after they submit their Safety Management System Manual (SMS) and is approved by Flag Administration or Recognized Organization (RO). Once ...
A freight forwarder or forwarding agent is a person or a company who co-ordinates and organizes the movement of shipments on behalf of a shipper (party that arranges an item for shipment) by liaising with carriers (party that transports goods). The carriers may use a variety of shipping modes, including ships, airplanes, trucks, and railroads ...
The traditional function of customs has been the assessment and collection of customs duties, which is a tariff or tax on the importation or, at times, exportation of goods. Commercial goods not yet cleared through customs are held in a customs area, often called a bonded store, until processed. Authorized ports are usually recognized customs ...
Stowage plan for container ships. The holds of a container ship. Stowage plan for container ships or bay plan is the plan and method by which different types of container vessels are loaded with containers of specific standard sizes. The plans are used to maximize the economy of shipping and safety on board.
Freight transport, also referred as freight forwarding, is the physical process of transporting commodities and merchandise goods and cargo. [1] The term shipping originally referred to transport by sea but in American English, it has been extended to refer to transport by land or air (International English: "carriage") as well.