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American President Lines, LLC (APL, formerly American President Lines Ltd.), is an American container shipping company that is a subsidiary of French shipping company CMA CGM. It operates an all-container ship fleet, including nine U.S. flagged container vessels.
CMA CGM is a French shipping and logistics company founded in 1978 by Jacques Saadé. [7]The name is an acronym of two predecessor companies, Compagnie Maritime d'Affrètement (CMA) and Compagnie Générale Maritime (CGM), translating as "Maritime Freighting Company" and "General Maritime Company", respectively.
1926 - Introduction of Cost and Management, the predecessor of CMA Magazine; 1930 - Name changed to The Canadian Society of Cost Accountants and Industrial Engineers; 1941 - Formation of provincial societies in Ontario and Quebec, with the power to grant the newly established professional designation of Registered Industrial Accountant ("RIA")
The time sheet enables laytime and therefore demurrage or despatch to be calculated. [5] The demurrage fee is often a daily amount agreed between charterers and ship owners. Ideally, the demurrage fee (per day in US dollars) covers the daily time charter rate, daily voyage costs, and the ship owner’s risk premium. [6]
Year-average daily charter rates for a 1-TEU (14-tonne) slot have varied from $2.70 to $35.40 between 2000 and 2010. UNCTAD also tracks container freight rates. Freight rates are expressed as the total price in U.S. dollars for a shipper to transport one TEU worth of cargo along a given route. [60]
Worldscale is a unified system of establishing payment of freight rate for a given oil tanker's cargo. Worldscale was established in November 1952 by London Tanker Brokers' Panel on the request of British Petroleum and Shell as an average total cost of shipping oil from one port to another by ship. A large table was created as result.
The main engine installed on board of CMA CGM Medea is a MAN B&W 12K98MC. This produces a cruising speed of 23.2 knots (43.0 km/h; 26.7 mph), with a maximum speed of 25.4 knots (47.0 km/h; 29.2 mph). In addition the ship has two bow thrusters with power of 2,500 kW (3,400 hp) each, for added manoeuvrability in ports.
If the charterer's delay means that laytime is exceeded, a predetermined penalty (i.e. liquidated damages) called "demurrage" is incurred. [5] [6] If the whole period of laytime is not needed, a refund called "despatch" may be payable by the shipowner to the charterer.