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The National Motor Freight Classification ( NMFC) is a North American voluntary standard that provides a comparison of commodities moving in interstate, intrastate and international commerce via freight shipment. The standard is developed and maintained by the Freight Classification Development Council (FCDC) and published by the National Motor ...
Forward freight agreement. A forward freight agreement ( FFA) is a financial forward contract that allows ship owners, charterers and speculators to hedge against the volatility of freight rates. It gives the contract owner the right to buy and sell the price of freight for future dates. FFAs are built on an index composed of a shipping route ...
Cardiff Metropolitan University ( Welsh: Prifysgol Metropolitan Caerdydd ), formerly the University of Wales Institute, Cardiff (UWIC; Welsh: Athrofa Prifysgol Cymru, Caerdydd; APCC) and commonly referred to as Cardiff Met, is a university located in the city of Cardiff. The university offers degree courses in a variety of disciplines.
The Baltic and International Maritime Council ( BIMCO) is one of the largest of the international shipping associations representing shipowners. [1] [2] BIMCO states that its membership represents approximately 60 percent of the world's merchant shipping tonnage and that it has members in more than 130 countries, including managers, brokers and ...
Ship's articles. 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. [1] [2] They specify the name of the ship, the conditions of employment (including the size and ratings of the intended ...
v. t. e. 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. [1]
In principle, all EU shipowners are free to provide maritime services either between Member States or within Member States (i.e., provide cabotage services). The right to provide international maritime services (provided one EU port was involved) is enshrined in Regulation 4055/86. [1] The freedom to provide services between ports within one ...
Stowage plan for container ships. The holds of a container ship. Stowage plan for container ships or bay plan is the plan and method by which different types of container vessels are loaded with containers of specific standard sizes. The plans are used to maximize the economy of shipping and safety on board.