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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.
A nation's shipping fleet (variously called merchant navy, merchant marine, or merchant fleet) consists of the ships operated by civilian crews to transport passengers or cargo from one place to another. Merchant shipping also includes water transport over the river and canal systems connecting inland destinations, large and small.
Also ship's magazine. The ammunition storage area aboard a warship. magnetic bearing An absolute bearing using magnetic north. magnetic north The direction towards the North Magnetic Pole. Varies slowly over time. maiden voyage The first voyage of a ship in its intended role, i.e. excluding trial trips. Maierform bow A V-shaped bow introduced in the late 1920s which allowed a ship to maintain ...
Large-scale shipping lines became widespread in the nineteenth century, after the development of the steamship in 1783. At first, Great Britain was the centre of development; in 1819, the first steamship crossing of the Atlantic Ocean took place and by 1833, shipping lines had begun to operate steamships between Britain and British Empire possessions such as India and Canada. [6]
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 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 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 ...
The Standard Carrier Alpha Code, a two-to-four letter identification, is used by the transportation industry to identify freight carriers in computer systems and shipping documents such as Bill of Lading, Freight Bill, Packing List, and Purchase Order.