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There are certain terms that have special meaning within Incoterms, and some of the more important ones are defined below: [13] Delivery: The point in the transaction where the risk of loss or damage to the goods is transferred from the seller to the buyer; Arrival: The point named in the Incoterm to which carriage has been paid
The two terms have a specific meaning in commercial law and cannot be altered. But the FOB terms do not need to be used, and often are not. In this case the specific terms of the agreement can vary widely, in particular which party, buyer or seller, pays for the loading costs and shipment costs, and/or where responsibility for the goods is ...
However lift-on/lift-off vessels can load and unload their own cargo unassisted. Lift-on/lift-off vessels can operate out of docks with no dockside cargo handling equipment. "In May 2010 the Office of Naval Research (ONR) conducted a ... at-sea demonstration of their Large Vessel Interface Lift-on/Lift-off (LVI Lo/Lo) crane system in sea state ...
The English Channel connects the Atlantic Ocean with the Southern part of the North Sea and is one of the busiest shipping areas in the world with ships going in numerous direction: some are passing through in transit from the Southwest to Northeast (or vice versa) and others serving the many ports around the English Channel, including ferries crossing the Channel.
"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]
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The ship's articles (shipping articles, more formally the ship's articles of agreement) is the set of documents that constitute the contract between the seafarer and the captain (master) of a vessel.
Image source: Getty Images. The recent trends have been impressive. Costco recently reported its January results (for the period ended Feb. 2), with net sales up 9.2% year over year and total ...