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Maritime transport (or ocean transport) or more generally waterborne transport, is the transport of people or goods via waterways. Freight transport by sea has been widely used throughout recorded history.
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.
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.
A carrier is an entity that actually transports goods and may use a variety of shipping modes, including ships, airplanes, trucks, and railroads, including multiple modes for a single shipment. [4] For example, the freight forwarder may arrange to have cargo moved from a plant to an airport by truck, flown to the destination city and then moved ...
A Liner Conference System (also called a "shipping conference") is an agreement within the shipping industry in relation to ocean liners.Typically, the agreement is between two or more shipping companies to provide scheduled cargo and/or passenger service on a particular trade route under uniform rates and common terms.
The International Longshoremen's Association union and the U.S. Maritime Alliance of ports and shipping companies said they had reached a tentative agreement for a six-year contract, a week ahead ...
Parties adopting Incoterms should be wary about their intention and variations. The desire of the parties should be expressed clearly and casual adoption should be refrained. Also, making additions or variations to the meaning of a certain term should be carefully done as parties' failure to use any trade term at all can produce unexpected results.
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