System of Bill of Lading
System of Bill of Lading The system of the bill of lading in relation to the delivery of goods is as below:B/Ls can be made deliverable to: A named person,…
Contents of Bill of Lading
Contents of Bill of Lading Name of the shipper of the goods. Name of the consignee, if known (or quite often if a bank has financed the deal it will…
Types of Bill of Lading
The Shipped B/L: This is the name given to the B/L that is issued when goods are placed on board the vessel. This is issued especially for bulk cargoes and…
Bill of Lading and Mate’s Receipt
Bill of Lading and Mate's Receipt The bill of lading (B/L) is issued upon the goods being received for shipment or, traditionally, upon their shipment. It is signed by the representative…
Shipping practice
Shipping practice As a future Master of a Ship, to understand Shipping Business, a clear understanding of International Trade is essential.Master may not be directly involved in fixing the cargo…
Time Charter Equivalent (TCE)
Time Charter Equivalent (TCE) A good voyage estimation form will provide the estimator with cues to calculate the time charter equivalent, and cues to increase freight rates in case the…
Time Charter Equivalent (TCE)
Time Charter Equivalent (TCE) A good voyage estimation form will provide the estimator with cues to calculate the time charter equivalent, and cues to increase freight rates in case the…
Voyage Estimation Form
Voyage Estimation Form Most companies develop their own forms to do a voyage estimation calculation. These forms help the estimator do the estimation in an orderly manner. An estimation form…
Backhauling
Backhauling Voyage estimates cover earnings of a vessel from discharge port to discharge port. Most estimates therefore assume that the earnings of a vessel are ‘zero’ for the ballast leg…
Operations /Daily Running Cost
Operations /Daily Running Cost CREWING COSTS: These include: Officers and crew wages, leave pay etc. Overtime Pension, union, insurance contribution for crew Establishment costs (recruitment, training etc.) Crew travel expenses Sundry,…
Establishing economic viability
Establishing economic viability Expenses In general, it can be stated that there are three different cost involved in budgeting/estimating, as given below Capital costs Voyage costs and Operating or Running…
Cargo Calculations
Cargo Calculations In the voyage estimation process, cargo calculations help one determine revenue that a vessel can earn for a voyage. To determine the amount of cargo that a vessel…