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"Demurrage" / d ɪ ˈ m ʌ r ɪ dʒ / [1] in vessel chartering is the amount of liquidated damages owed by a charterer to a shipowner when the charterer remained in possession of the vessel for the purpose of loading and unloading beyond the time allowed by contract. [2]
Roll trailers are a common equipment used in ports and on board of roll-on/roll-off ships, [1] to facilitate the shipping of unmovable commodities and oversize load from one port to another. Standard lengths of roll trailers are 20, 40 and 62 feet (6.1, 12.2 and 18.9 m), in line with twenty-foot equivalent unit shipping containers , but can ...
For example, "FOB Vancouver" indicates that the seller will pay for transportation of the goods to the port of Vancouver, and the cost of loading the goods on to the cargo ship (this includes inland haulage, customs clearance, origin documentation charges, demurrage if any, origin port handling charges, in this case Vancouver). The buyer pays ...
Detention of the ship is the last course of action that a PSCO would take upon finding deficiencies aboard the vessel. Courses of action a PSCO may impose on a ship with deficiencies (in order of ascending gravity) are: [14] Deficiencies can be rectified within 14 days for minor infractions.
Bunker adjustment factor, bunker surcharge or BAF refers to the floating part of sea freight charges which represents additions due to oil prices. [1] BAF charges used to be determined by Carrier Conferences to be applicable for a certain period on a certain trade route. The European Commission banned Carrier Conferences as of October 17, 2008 ...
The Merchant Marine Act of 1920 is a United States federal statute that provides for the promotion and maintenance of the American merchant marine. [1] Among other purposes, the law regulates maritime commerce in U.S. waters and between U.S. ports.
Instead, the people who rent the vessel from the owner are responsible for taking care of such things and (for commercial shipping) obtaining insurance, usually for a minimum term of one year. [1] The act is commonly known as bareboating or bareboat charter.
The terminal can be a port, airport, or inland freight interchange, but must be a facility with the capability to receive the shipment. If the seller is not able to organize unloading, they should consider shipping under DAP terms instead. All charges after unloading (for example, import duty, taxes, customs and on-carriage) are to be borne by ...