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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.
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 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.
The Lloyd's Open Form, formally "Lloyd's Standard Form of Salvage Agreement", and commonly referred to as the LOF, is a standard form contract for a proposed marine salvage operation.
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 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]
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"Packet" can mean a small parcel but, originally meant a parcel of important correspondence or valuable items, for urgent delivery. [3] The French-language term "paquebot” derives from the English term "packet boat," but means a large ocean liner. Poster advertising a packet service, Greenock, Scotland to New York, 1823