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international road haulage freight rates
what are international road haulage freight rates based on?
volume
weight
commodity
origin/destination of cargo
international road haulage freight rates
what are rates charged for the carriage of vehicles or trailers on vehicular ferries based on?
trailer/vehicle length
loaded or empty
accompanied or unaccompanied
international road haulage freight rates
what type of cargo will have additional charges?
valuable cargo
O/H, O/L, O/W
maritime container rates
what are rates for Full container load (FCL) determined by?
container type - GP/FR/OT/RF
origin/destination
maritime container rates
what does the rate include and exclude?
includes inland transportation cost & terminal handling expenses
excludes custom clearance charges and demurrage
maritime container rates
what does demurrage mean?
charge for cargo overstaying at port
voyage and time charters
what are the requirements ship charters have before deciding to charter any ship?
desired capacity
speed
general layout of the vessel
trade and ports of call
date and place of commencement and duration
type of cargo
classification and registration of vessel
range of viable fixture rates
type of charter
voyage and time charters
how does desired capacity affect a ship charterer’s decision of charting a vessel?
load displacement - ship’s total weight when full
deadweight - weight of cargo + fuel + supplies + people
light displacement - ship’s weight when empty
grain capacity - max space for loose cargo
bale capacity - space for boxed/bagged cargo
voyage and time charters
how does speed affect a ship charterer’s decision of charting a vessel?
type of propulsion
voyage and time charters
what about the general layout of vessel affect a ship charterer’s decision of charting a vessel?
no. of hatches
lifting gear
voyage and time charters
how does the trade and ports of call affect a ship charterer’s decision of charting a vessel?
determines type of vessel required, draft, length, beam
voyage and time charters
how does the type of charter affect a ship charterer’s decision of charting a vessel?
demise (bareboat) - charterer takes full control of ship, including crew and operations
voyage
time
voyage and time charters
what are the charter conditions of a voyage charter?
charter for 1 or more voyages
payment in $/tonnes
ship owner pays for all costs (capital, operating, voyage)
voyage and time charters
what are the charter conditions of a time charter?
charter for period of time
payment in $/day
ship owner pays for capital and operating cost
charterer pays for voyage cost
voyage and time charters
what are the charter conditions of a bareboat charter?
charter for period of time
payment in $/day
ship owner pays for capital cost
charterer pays for operating and voyage cost
Baltic exchange and BIMCO
what is the relationship between Baltic exchange and BIMCO?
Baltic exchange provides the numbers such as market rates
BIMCO provide the contracts such as legal terms and conditions
both are used together in global chartering agreements and freight negatiations
Baltic exchange and BIMCO
what is the Baltic exchange?
maritime market information provider and membership organization that plays a central role in the global shipping industry
world’s leading source of independent maritime market data for the trading and settlement of physical and derivative shipping contracts
Baltic exchange and BIMCO
what is BIMCO?
world’s largest international shipping association, representing shipowners, operators, brokers & agents
Baltic exchange and BIMCO
what are the functions of the Baltic exchange
market information and indices
price benchmarking
dispute resolution and ethics
chartering contracts and documentation
membership and networking
training and research
Baltic exchange and BIMCO
what are the functions of BIMCO?
standard contracts and clauses
legal advice and support
shipping policy and advocacy
education and training
information and resources
sustainability and digitalisation
Baltic exchange and BIMCO
what is the Baltic exchange’s function in market information and indices?
publishes key freight market indices such as Baltic Dry Index (BDI), Baltic Capesize Index (BCI) & Baltic Panamax Index (BPI)
reflects daily freight rate movements and are widely used in the shipping and investment sector
Baltic exchange and BIMCO
what is the Baltic exchange’s function in price benchmarking
provides reliable benchmarks for time charter and voyage charter rates
essential for fixing contracts and settling freight derivatives
Baltic exchange and BIMCO
what is the Baltic exchange’s function in dispute resolution and ethics?
promotes fair dealing and provides a platform for arbitration & mediation of shipping disputes
encourages high ethical standards in chartering
Baltic exchange and BIMCO
what is the Baltic exchange’s function in chartering contracts and documentation?
works with BIMCO and others to develop and promote standardized charter party forms and shipping contracts
Baltic exchange and BIMCO
what is the Baltic exchange’s function in membership and networking?
maintains a global membership of shipbrokers, charterers, shipowners & traders
facilitates trusted networking and relationships
Baltic exchange and BIMCO
what is the Baltic exchange’s function in training research?
offers education and training programs related to shipping markets and freight derivatives
Baltic exchange and BIMCO
what is BIMCO’s function in standard contracts and clauses?
BIMCO creates and updates standard charter party agreements, bills of lading, and other contracts used in global shipping
these documents help reduce disputes and ensure legal consistency
Baltic exchange and BIMCO
what is BIMCO’s function in legal advice and support?
offers expert legal guidance to members on charter party disputes, cargo claims, and maritime law
BIMCO also publishes guidelines and best practices
Baltic exchange and BIMCO
what is BIMCO’s function in shipping advocacy?
represents the shipping industry in international forums to advocate for fair regulations on emissions, safety, and sustainability
Baltic exchange and BIMCO
what is BIMCO’s function in education and training?
provides professional courses, webinars, and certifications on maritime law, chartering & operational best practices
Baltic exchange and BIMCO
what is BIMCO’s function in information and resources?
maintains databases and newsletters that provide members with market insights, contractual updates & operational alerts
Baltic exchange and BIMCO
what is BIMCO’s function in sustainability and digitalisation?
works on developing green shipping strategies, digital tools, and environmental standards for the maritime industry
what are shipping derivatives?
price guesses for shipping